Syscoin

Syscoin

 SYS

Following the explosion of blockchain technology in recent years, a lot of cryptocurrencies have demonstrated remarkable growth over time. Syscoin hasn’t been left behind either, with its value rising significantly over the past years. In 2014 during its debut, the launch price of Syscoin was a mere $0.002 which remained relatively low until early 2017. In January 2018, Syscoin value was worth $0.91 per coin. Since then, it has stabilized within the $0.20 to $0.50 range. Let’s take a deep dive into SYS, Syscoin roadmap

Syscoin Exchange Rate

What is Syscoin?

Syscoin is a platform that offers fast and low-cost tokens, assets, and NFTs secured by Bitcoin’s censorship resistance and hashrate. Syscoin is a proof-of-work blockchain with a hashrate second only to Bitcoin. It is merge-mined with Bitcoin to offer unrivalled security, with multi-quorum chainlocks for greater resistance to 51% attacks

Backed by 2500 independent full nodes which participate in Syscoin’s decentralized network at present, all of which archive and validate. Together they form the high-throughput relay network used by Syscoin’s Z-DAG Protocol.

The platform offers the option of a permissioned L2 smart contract feature, Syscoin Notary, which is useful for regulatory compliance at scale, and much more.

Syscoin roadmap

Its ambitious roadmap aims at defining the next generation of decentralized ledger tech, leveraging Zero-Knowledge Proofs to provide the best characteristics of Bitcoin and Ethereum in a coordinated and scalable Web 3.0 platform.

Syscoin has official partnerships with Binance, Blockchain Foundry, Klever, TrustToken, Komodo, Decentralized Identity Foundation (DIF), Microsoft Azure, International Token Standardization Association (ITSA) and more

The Syscoin is used as gas, to create Syscoin platform tokens, to mint NFTs and to run Masternodes. Additionally, Syscoin can be mined, just like Bitcoin, and has a limited supply of 888 million coins. The system uses a hybrid consensus mechanism with both a PoW model and a PoS model. Both these models work together to verify transactions and prevent double-spending.

Difference between Syscoin and Bitcoin

Let’s compare Syscoin to BTC. The table below represents some of the major differences between these currencies.

Crypto Bitcoin Syscoin
Ticker Symbol BTC SYS
Launch Date 2009 2014
Team Unknown Public
Country of Origin International Netherlands
All-time-high (USD) $64,863 $0.9815 75.43
Hashrate 93,000,000,000 17,000,000,000
Max Supply 21,000,000.00000 888,000,000.00000
Transaction Speed/Block Time 7 60,000
Mining Profitability Extremely low Low
Algorithm SHA-256 SHA-256
Block Reward 6.25 31.27
Block Time 600 60

Why is Swapzone the best place to perform a Syscoin exchange?

Swapzone is the best Syscoin exchange in the market. It offers a number of exchange deals where you can simply choose the one that you want. Most importantly it does this for free providing you with an easy to use interface. However, if you are still finding difficulty understanding how to do it, here’s a step-by-step procedure:

  • Head on over to the Swapzone website.
  • Locate the “Select pair” tab and choose the type of crypto and amount that you wish to exchange. For instance, if you trying to swap Syscoin to BTC, you’ll first have to enter Syscoin as the type of crypto you want along with the amount you wish to exchange.
  • Going by our earlier example, in the “Get Up To” section, you will select BTC. Or if you are trying to purchase Syscoin with Bitcoin, you will enter SYS.
  • You will now be able to see all the different Syscoin exchange offers being displayed on Swapzone. All you have to do is go through them and pick the one that you want.
  • Once you find an offer that you fancy, simply pick the offer and click on “exchange”.
  • Enter your wallet details and click on “proceed to exchange” to start the transaction.
  • The platform will start to process your transaction. Just wait for the Syscoin swap process to finalize.
  • Once the process is through, your deposit will be processed and you will receive your tokens in your wallet. Simply rate and review the exchange partner and that’s it. You are done.

Popular pairs to convert Syscoin

Frequently asked questions

What is the Syscoin exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store Syscoin?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.