PacCoin –Cryptocurrency Review
Today we’re going to be reviewing PacCoin, which was requested by a fellow steemian. If you want me to write a review about a cryptocurrency you’re interested in, please write a comment below. This way you can rest assured your cryptocurrency will be added to my list and will be featured in a coming review.
When first examing PacCoin at coinmarketcap it appears to be soaring and has recently risen over 4,000% within the past month! You can see the current stats about the coin listed below.
- Current Price: 0.000040 USD (0.000000002658 BTC)
- Market Cap: $136,371,945
- Total circulating supply: 3,401,644,929,598 PAC
What is PacCoin?
PacCoin was originally founded by William Corliss back in 2013 and was known as PacCoin – Pacifica Nation’s official coin.
Since then it has been rebranded and relaunched as PacCoin, which stands for the Peoples Alternative Choice Coin.
Although at the present time, not much information is currently available about the coin as it appears to currently be undergoing some major restructuring. In fact, PacCoin is scheduled to undergo a “redemption” on February 1, 2018 and set to re-launch on March 1, 2018.
Will you lose your current PacCoin’s come the hardfork on February 1st?
No! Actually the opposite is true. In fact, early “redeemers” will benefit from more access to 40% block creation according to the PacCoin website. In addition, PacCoin will also allow people to redeem their old PAC for the new PAC scheduled to release on March 1st, for up to 1 year. However, if you currently have a stake in PacCoin, you will want to redeem your coins sooner rather than later as the redemption ratio will decrease over time. For instance, the redemption ratio will decrease to 2,000:1 two months after the release on March 1st. Likewise, the redemption ratio will decrease to 3,000:1 at month 3, and 20,000: 1 at the 1 year mark.
How can I buy PacCoin?
If you chose to invest in PacCoin, there are two ways in which users may choose to do so. Option number 1: purchase PacCoin directly from the website using the link provided. Option number 2: purchase PacCoin on Cryptopia. If you are unfamiliar with the process on how to do this you can follow the step by step process here.
Step 1: Purchase Litecoin or Bitcoin from Coinbase. If you do not have a coinbase account, you can make one using the link provided. I would recommend purchasing litecoin as the fee’s associated with the transactions are cheaper, which saves you money.
Step 2: Create an account on cryptopia if you do not already have an account. Once you have an established account, transfer your litecoin or bitcoin to cryptopia.
Step 3: Once your funds are deposited onto cryptopia you will need to exchange your litecoin or bitcoin for dogecoin.
Step 4: Exchange your dogecoin for PacCoin.
All the information provided here within can be found on coinmarketcap and PacCoin.
Please upvote, resteem and share your thoughts about Ethos by leaving a comment below!
Hi. Great post! Thanks for sharing. My question: So for example if I have 1,000 coins in Cryptopia, then do I have to redeem them by March? Please explain: 2,000:1 . Thank you!
Exactly, you would need to redeem your current coins for the new coins being during the upcoming release. You can visit their website to learn more about the specific of the details if you are currently holding the PacCoin.
And for every 2,000 coins I have I would receive one back?
Fantastic post brother greetings
Thank you for the support @phillips93
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Great write up. I have been downloading the wallet for days. I purchased PAC on the site and it indicates my order is complete but its not showing up yet in the wallet. I assume this is because more blocks have to load. Am I correct? Seems that has to be the answer. Is there a new Paccoin site? Every time I go to their Contact Us I get a warning the site is not legit. Any info you have is appreciated.
Thank you @vanillagorilla In regards to the wallet that sounds like a technical error. I've never wallet that has taken that long to download. However, regarding the PAC you purchased showing up, how long as it been since you bought the coins? Since the transaction says its complete on the site, its most likely an error with the wallet & the difficulty downloading it. The website does appear to be under going maintenance but try the link below in order to reach out to the team. I hope you the best!
https://paccoin.net/contact
Thanks, it took almost a week to download but I was patient and hopeful. My wallet finally was completed and now it works great.
so what if you have Paccoin on cryptopia? how do you redeem from there to the coin Mar 1st?
also, it looks like you can go directly from LTC to PAC on cryptopia. at least it shows up as a pair.
rr
@rrb6699 thank you for the update. I saw on their website that this was hopefully going to be the case where you could simply go from LTC to PAC on cryptopia but didn't see that as an option at the time of writing the post. So thank you for the correction. However, in regards to holding PacCoin on cryptoia it's hard to say at this point. The website does not provide much information regarding these details. Hopefully more will come out as time nears. However, if I come across anything I'll let you know.
Recently bought a lot of Pac, because I had heard of a big change in february. Did not know that the coin would get switched for a new coin. Upvoted and following.
Thank you for the support @diiva1981 it's greatly appreciated :)
But what does it do?
hey is it not possible to remove the paccoins from cryptopia anyway now ?