WELCOME TO PRECIOUS COIN

Global

Like the internet, it is not restricted to a specific country.

Distributed

Countless copies of the database exist everywhere

Automated

Software and cryptography do most of the heavy lifting.

About Us



What is Precious Coin?

Precious coin is a decentralised cryptocurrency which is based on the two algorithms

1. POS(Proof of Stake)

2. POW(Proof of Work)

Thus Precious coin is a hybrid coin.
By mining the coin, transactions are added and recorded to Precious Coin ledger, comprised of all past transactions. The ledger resembles a chain of blocks, which confirm that a certain number of transactions have been made.

Does Precious Coin is controlled by any central authority?

No, just like Bitcoin and Litecoin. The system of precious coin enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically. Precious Coins aren't printed, like dollars or euros - they're produced by computers all around the world, using free software

Is Precious Coin a Token?

No, precious coin is not a Token! Precious Coin has it’s separate public blockchain that can be find on preciousblockchain.com

Disruptive Technology

Since precious coin is a hybrid coin thus users of precious coin enjoys the benefits and security provided by two algorithms i.e PoS and PoW.

Enormous Market

Any one in the world who is having a smartphone or a computer can store precious coins and do the transactions in the form of precious coins.

What is Cryptocurrency?

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency. Essentially, cryptocurrencies are limited entries in a database that no one can change unless specific conditions are fulfilled.

History


There have been many attempts at creating a digital currency during the 90s tech boom, with systems like Flooz, Beenz and DigiCash emerging on the market but inevitably failing. There were many different reasons for their failures, such as fraud, financial problems and even frictions between companies’ employees and their bosses.

Notably, all of those systems utilized a Trusted Third Party approach, meaning that the companies behind them verified and facilitated the transactions. Due to the failures of these companies, the creation of a digital cash system was seen as a lost cause for a long while.

Then, in early 2009, an anonymous programmer or a group of programmers under an alias Satoshi Nakamoto introduced Bitcoin. Satoshi described it as a ‘peer-to-peer electronic cash system.’ It is completely decentralized, meaning there are no servers involved and no central controlling authority. The concept closely resembles peer-to-peer networks for file sharing.

One of the most important problems that any payment network has to solve is double-spending. It is a fraudulent technique of spending the same amount twice. The traditional solution was a trusted third party - a central server - that kept records of the balances and transactions. However, this method always entailed an authority basically in control of your funds and with all your personal details on hand.


In a decentralized network like Bitcoin, every single participant needs to do this job. This is done via the Blockchain - a public ledger of all transaction that ever happened within the network, available to everyone. Therefore, everyone in the network can see every account’s balance.

Every transaction is a file that consists of the sender’s and recipient’s public keys (wallet addresses) and the amount of coins transferred. The transaction also needs to be signed off by the sender with their private key. All of this is just basic cryptography. Eventually, the transaction is broadcasted in the network, but it needs to be confirmed first.

Within a cryptocurrency network, only miners can confirm transactions by solving a cryptographic puzzle. They take transactions, mark them as legitimate and spread them across the network. Afterwards, every node of the network adds it to its database. Once the transaction is confirmed it becomes unforgeable and irreversible and a miner receives a reward, plus the transaction fees.

Essentially, any cryptocurrency network is based on the absolute consensus of all the participants regarding the legitimacy of balances and transactions. If nodes of the network disagree on a single balance, the system would basically break. However, there are a lot of rules pre-built and programmed into the network that prevents this from happening.

Cryptocurrencies are so called because the consensus-keeping process is ensured with strong cryptography. This, along with aforementioned factors, makes third parties and blind trust as a concept completely redundant.



Cryptocurrencies can be used to pay for even a college degree!

Cryptocurrencies can be used to pay for even a college degree!

In the past, trying to find a merchant that accepts cryptocurrency was extremely difficult, if not impossible. These days, however, the situation is completely different.

There are a lot of merchants - both online and offline - that accept Cryptocurrencies as the form of payment. They range from massive online retailers like Overstock and Newegg to small local shops, bars and restaurants. Cryptocurrencies can be used to pay for hotels, flights, jewellery, apps, computer parts and even a college degree.

Like Trading, Mining is an investment!

Miners are the single most important part of any cryptocurrency network, and much like trading, mining is an investment. Essentially, miners are providing a bookkeeping service for their respective communities. They contribute their computing power to solving complicated cryptographic puzzles, which is necessary to confirm a transaction and record it in a distributed public ledger called the Blockchain.

One of the interesting things about mining is that the difficulty of the puzzles is constantly increasing, correlating with the number of people trying to solve it. So, the more popular a certain cryptocurrency becomes, the more people try to mine it, the more difficult the process becomes.

A lot of people have made fortunes by mining Bitcoins. Back in the days, you could make substantial profits from mining using just your computer, or even a powerful enough laptop. These days, Bitcoin mining can only become profitable if you’re willing to invest in an industrial-grade mining hardware. This, of course, incurs huge electricity bills on top of the price of all the necessary equipment.

Currently, Litecoins, Dogecoins and Feathercoins are said to be the best cryptocurrencies in terms of being cost-effective for beginners. For instance, at the current value of Litecoins, you might earn anything from 50 cents to 10 dollars a day using only consumer-grade hardware.

But how do miners make profits? The more computing power they manage to accumulate, the more chances they have of solving the cryptographic puzzles. Once a miner manages to solve the puzzle, they receive a reward as well as a transaction fee.

Accepting cryptocurrencies as payment is the same as accepting cash!

If you happen to own a business and if you’re looking for potential new customers, accepting cryptocurrencies as a form of payment may be a solution for you. The interest in cryptocurrencies has never been higher and it’s only going to increase. Along with the growing interest, also grows the number of crypto-ATMs located around the world. Coin ATM Radar currently lists almost 1,800 ATMs in 58 countries.

First of all, you need to let your customers know that your business accepts crypto coins. Simply putting a sign by your cash register should do the trick. The payments can then be accepted using hardware terminals, touch screen apps or simple wallet addresses through QR codes.

There are many different services that you can use to be able to accept payments in cryptocurrencies. For example, CoinPayments currently accepts over 75 different digital currencies, charging just 0.5 percent commission per transaction. Other popular services include Cryptonator, CoinGate and BitPay, with the latter only accepting Bitcoins.

In the US, Bitcoin and other cryptocurrencies have been recognized as a convertible virtual currency, which means accepting them as a form of payment is exactly the same as accepting cash, gold or gift cards.

For tax purposes, US-based businesses accepting cryptocurrencies need to record a reference of sales, amount received in a particular currency and the date of transaction. If sales taxes are payable, the amount due is calculated based on the average exchange rate at the time of sale.




Legality of Cryptocurrencies


As cryptocurrencies are becoming more and more mainstream, law enforcement agencies, tax authorities and legal regulators worldwide are trying to understand the very concept of crypto coins and where exactly do they fit in existing regulations and legal frameworks.

With the introduction of Bitcoin, the first ever cryptocurrency, a completely new paradigm was created. Decentralized, self-sustained digital currencies that don’t exist in any physical shape or form and are not controlled by any singular entity were always set to cause an uproar among the regulators.

A lot of concerns have been raised regarding cryptocurrencies’ decentralized nature and their ability to be used almost completely anonymously. The authorities all over the world are worried about the cryptocurrencies’ appeal to the traders of illegal goods and services. Moreover, they are worried about their use in money laundering and tax evasion schemes.





As of November 2017, Bitcoin and other digital currencies are outlawed only in Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Vietnam, with China and Russia being on the verge of banning them as well. Other jurisdictions, however, do not make the usage of cryptocurrencies illegal as of yet, but the laws and regulations can vary drastically depending on the country.

How to store

Unlike most traditional currencies, cryptocurrencies are digital, which entails a completely different approach, particularly when it comes to storing it. Technically, you don’t store your units of cryptocurrency; instead it’s the private key that you use to sign for transactions that need to be securely stored.

There are several different types of cryptocurrency wallets that cater for different needs. If your priority is privacy, you might want to opt for a paper or a hardware wallet. Those are the most secure ways of storing your crypto funds. There are also ‘cold’ (offline) wallets that are stored on your hard drive and online wallets, which can either be affiliated with exchanges or with independent platforms.

Buy from Exchanges

Precious Coin will be traded on public exchange in Early 2018

Our Services

Completing different courses from Precious Coin’s educational partner DAG Corporation will reward you with free Precious Coins.

Our Portfolio

We are launching a feature for finding other users of Precious Coins for Over the Counter trading.

Our Features

Precious Coin is a type of electronic cash that can be discreetly exchanged for Entertainment products and services, and subsequently converted into fiat currency.

Fast transactions

On the contrary to blockchain networks where transactions take more and more time to confirm, in our DAG chain the confirmations for transactions take less and less time as the network of users grows. This really is disruptive and innovative technology.

Low transaction fees

Regular transactions have a very small fixed fee, regardless of the amount that is sent. More complex transactions such as conditional payments have a little bit bigger transactions fees.

Eco-friendly

The process of mining is old and requires tremendous amounts of computing power which means huge electricity consumption, therefore Precious Coins are generated without physical mining.

Easy to use

Starting from a user-friendly payment solution to large number of merchants and options for receiving and spending the coins. Sending Precious Coins is as easy as sending an e-mail.

Coin Specification

Name of the Coin Precious Coin
Coin Abbreviation PRE
Coin Type Hybrid (POW + POS)
Total supply 90 million
Premined 18 million
Block Reward 500 Coins
Block Time 5 mins
Staking age 10 days
Max staking days 90 days
Staking Reward 12% pa

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Precious Coin The Mobile Cryptocurrency. simple to use, powered by an App. Precious Coin is a leap forwards in the accessibility of cryptocurrencies.

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