What Is DeepOnion and How to Exchange BTC to ONION at the Best Rates?
Privacy coin focuses on one thing the most and that is anonymity to protect the identity of their users. DeepOnion is a privacy coin with a twist to it, and that is the integration of the TOR network also known as The Onion Router. Through the creation of a payment platform that is untraceable, the DeepOnion protocol wants to provide security and privacy for users on the network. This prevents anybody from sniffing on your identity and transaction history.
As a community-driven project, DeepOnion is focused on building a vibrant DeepOnion community and getting them involved in the development process of the Onion crypto. In this DeepOnion review, we will examine what is DeepOnion blockchain and DeepOnion coin price prediction.
What is DeepOnion?
The DeepOnion protocol portrays its platform as an open-source and community-focused decentralized blockchain with a multi-layered privacy network suitable for daily usage. The protocol utilizes a hybrid protocol known as x13 hybrid PoW/PoS for network security. DeepOnion is said to be among the first cryptocurrencies to incorporate the TOR network.
Apart from integrating the TOR network, the platform also uses Obfs4, which is a public key obfuscation protocol. Using this key allows the DeepOnion protocol to hide message content protocol details making the traffic look random.
The Onion coin is the native token of the DeepOnion protocol and you can find it on several popular exchanges like Kucoin, Cryptotopia, etc., or exchange aggregators like Swapzone. There you will discover the current DeepOnion price in the market. The Onion coin has a DeepOnion coin wallet where you can store your coin.
The team behind DeepOnion
In line with its anonymity principle, those that created the DeepOnion coin have provided the option of remaining anonymous for team members. In fact, all members of the team go by codename instead of actual names.
The Uniqueness of ONION coin
10 million DeepOnion coins were pre-mine and every coin was given away free to the public with no ICO or anything similar. All coins were airdropped to the public into the DeepOnion coin wallet.
The DeepOnion blockchain was conceived on July 12, 2017, and the first DeepOnion coin wallet was created with the integration of the TOR network that provides protection for users by shielding their IP addresses. The Onion crypto wallet was later followed by the release of the DeepVault, which is for authentication and verification of any digital file or the wallet itself.
DeepVault is a part of the features of the DeepOnion Blockchain, which is basically a secured vault for information based on the blockchain. The protocol provides file validation credentials through the blockchain network.
It is another feature of the DeepOnion blockchain that allows the DeepOnion community to participate in the development of the protocol. Through VoteCentral, the DeepOnion community continues to be rewarded for its effort towards growing the platform.
This is an additional feature of the Onion crypto wallet. It allows users to track the flow of the coin across the DeepOnion blockchain network. With DeepSend users can transfer funds securely without fearing the funds being hijacked. Additionally, you can carry out private transactions as DeepSend makes payment untraceable giving you utmost anonymity.
On October 5, 2021, Onion crypto has a verified circulating supply of 22,569,416.06 coins for Pow/PoS mining. The circulating supply was at 22,374,207 coins on December 5, 2020. As mentioned earlier, DeepOnion uses the x13 algorithm for PoW and combines PoW and PoS.
The total supply of ONION coins is going to be about 25 million coins after ten years and out of these 25 million, 20 million ONION cryptos will be mined by PoW. Out of the 20 million, 18 million were already pre-mined at the genesis block and they were airdropped to the DeepOnion community freely. The remaining coins will be mined by the public until it reaches the maximum supply of ONION coins.
For PoW mining, there is a 240 seconds block target and mining difficulty is recalculated for every block. The initial block reward is 8 ONION coins and the rewards are halved every 365 days.
For PoS mining, it has 50 blocks confirmations and a 60-second block target with difficulty recalculation for every block. The reward for PoS mining varies each year and the reward is also halved every year too just like PoW mining. The halving event is as follows:
- Tne the first year -10%
- The second-year -5%
- The third year and every year that follows -1%
Your coins start to mature after staking after a minimum of 24 hrs with 30 days the maximum time for staking.
The DeepOnion community is 14000 members strong and includes crypto enthusiasts and developers. The DeepOnion airdrop played a part in the community’s growth as the 40-week public airdrop drew several users to the platform. Over the course of the airdrop, over 6000 unique wallets got free ONION coins and on the last day, 900 users were vying for the airdrop. Many talented developers were attracted and a blooming community was born to support the growth of the DeepOnion project.
The DeepOnion wallet is anonymous and secure as it shields your IP via the TOR network changing your IP into something like this “b4gr62suibqkotf9ld59uh3azvxm.onion”. You don’t have to pay any fee to shield your address. You also enjoy the DeepSend feature, which we have discussed before when you use the DeepOnion coin wallet. The wallet offers speed and security with transactions confirmed in no more than 48 seconds. Additionally, the wallet is placed under code modernization to keep it prepared for future upgrades or expansion.
DeepOnion coin price prediction
According to Walletinvestor, the DeepOnion coin is an outstanding long-term investment. The ONION coin is expected to increase in value with the DeepOnion price predicted to reach $0.288 in just a year. That gives investors an earning potential of +49.70% in just a year. By 2026, the DeepOnion price could reach $0.591.
How to exchange Bitcoin to DeepOnion?
You can exchange BTC to ONION on Swapzone, which is a BTC to ONION exchange aggregator for the best DeepOnion price in the market. Before you proceed to select the DeepOnion coin exchange you want, ensure you know the exact amount of Onion tokens you want to buy. Here’s the step-by-step guide on buying your ONION on Swapzone:
Step 1. Select Bitcoin to Onion pairing from the list of tokens on Swapzone front page and the site will pull up from all the ONION coin exchanges.
Step 2. After selecting your desired pairing and choosing the deal that you are satisfied with, go ahead and use Swapzone to convert your BTC to ONION by clicking on the “exchange” button.
Step 3. Input the wallet address where you want to receive the ONION crypto.
Step 4. There is also an option for a refund address, which is the address where the BTC coins you are swapping will be refunded to.
Step 5. Once done, you click on the “proceed the exchange” button to carry out the exchange.
Step 6. Wait for the service to carry out the exchange for you.
Step 7. When you received your coins, please, take your time to leave a review and rate the exchange partner.