Dagcoin and the future of currencies
We believe that cryptocurrencies are here to be a step up from regular money. This means improving the speed of transactions while reducing the cost, giving access to money to more people with lesser restrictions and limitations, giving more freedom to transact. And at the same time preventing fraud and illegal activities. Dagcoin was created to fulfil all of these criterias – to become a digital version of money that people can use all around the world.
Near-zero transaction fees
Fixed transparent transaction fee without any hidden fees or exchange rates. Does not matter whether sending 10 or 10 000 dags, the cost will always be around 0.0005 dagcoins.
Almost instant transactions
Regular transactions can take weeks or days, several cryptocurrencies can take hours or tens of minutes. Dagcoin transactions are fully completed within 30 seconds on average.
Freedom to transact
People around the world have the freedom to make fast and cost-effective transactions with their Dagcoin wallets. No limits, no restrictions. You have control over your money.
Dagcoin has been granted government licenses for cryptocurrency and is strictly following KYC and AML laws to reduce illegal or criminal transactions of the financial world.
Find merchants all around the world
Dagcoin is meant for using. Everything you do with regular currency, you will be able to do with dagcoins. This includes getting paid, going shopping, exchanging, taking loans, paying for services, travelling, and almost everything else that comes to your mind.
500 000+ members
The Dagcoin community is growing rapidly all around the world. Instead of creating a group of speculating traders who are chasing the price movement, we are building an educated community of cryptocurrency supporters who understand the long-term vision and are passionate about the true value of cryptos – the reasons they were created and how people worldwide can benefit.
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Quick specs and the whitepaper
|Transaction fee:||Around 0.0005 DAG|
|Avg transaction time:||30 seconds on average|
|Dagcoin price:||0.74 €|
|Total distribution:||9 000 000 000 dags|
|Coin distribution:||5% – team, founders, advisors 95% – community|
|Distributed coins:||~2,80B dags (0.45B + ~2.35B)|
|Market cap:||1 722 500 000 €|
|Available in (exchange)||SwipeX|
The 3-step strategy for growth
Create an ecosystem
The biggest innovators are flexible and can adapt to changes faster than the industry giants. It takes a while for the biggest companies to start accepting cryptocurrency. The best way to start is by creating an ecosystem and build the main products and services ourselves.
Build the community
Once the ecosystem has been developed, we will grow the community and integrate the products and services into our everyday lives. A currency becomes strong once people and businesses start trusting and using it. We can show the world how cryptocurrency is truly meant to be used.
Scale & co-operate
Scaling the community to millions of people assures that the ecosystem is working and gives insight for perfecting the products. This is required in order to begin cooperating with the biggest brands in the world, eventually leading to mass adoption.
JPMorgan Experimenting With Blockchain Solutions For Taiwanese Banks
With rejected and returned payments being rife within the Taiwanese banking sector, banking giant JPMorgan Chase & Co. has taken the route of testing a blockchain solution known as ‘Confirm’ with a series of large Taiwan-based banks. Confirm, when used in tandem with JPMorgan’s own clearing solution, ‘PayDirect’, will allow these banks to confirm a recipients’ account information ahead of making payments with almost zero delay. This is a welcome change to many due to the reliance on blockchain authentication adding an extra layer of concrete security. This news comes hot off the heels of JPMorgan’s previously announced partnership with India’s largest bank, the State Bank of India (SBI). The SBI is to begin utilising JPMorgan’s blockchain platform to help accelerate cross-border payments and reduce costs. This process has been dubbed ‘Liink’. Much like Confirm, Liink utilises a fork of the Ethereum blockchain in order to greatly reduce the speed of certain transfers — in this case, cross-border transfers specifically. Deputy managing director of SBI, Venkat Nageswar, had this to say about the state-run bank’s new partnership: “We are excited to be the first bank in India to go live on the network and look forward to closer partnership with JP Morgan on implementation and exploring application as part of the network to better serve our clients(...)” These moves by the worldwide banking giant are another key indicator of wider-spread adoption of blockchain-analogue solutions across the financial sector, and would lead many to believe that competitors will seek to launch similar solutions throughout the globe.
Dagcoin – Overcoming The Blockchain Speed Problems
Just over ten years ago. If you wanted to send money to someone on the other side of the world, you would have sent it via a traditional bank transfer. For those of you that made such transactions, you will remember all too well how they took five business days or more to be received. And to top it off, you were hit by a transaction fee of around 5%, which could become very costly if you were sending a lot of money. When Bitcoin hit the scene in the early 2010’s it revolutionised everything. It was now possible to make a transaction to anyone, anywhere in the world, within a maximum of 30-40 minutes and for a fee of around 1%. It changed everything, literally. Over the past decade, our thirst for speed in every aspect of our lives has increased exponentially. Yet Bitcoin and other blockchain-based cryptocurrencies have gone the other way and are actually getting slower and more expensive. How has this happened, and are there any solutions? In this week’s article, we will go through some of the most pressing issues facing blockchain cryptocurrencies such as Bitcoin and Ethereum, and how Dagcoin solves these… Why are Blockchain-based Cryptocurrencies Getting Slower? It is fair to say that in the past year, the interest in cryptocurrencies has gone through the roof. With Bitcoin rising from its lows of around $4000 at the beginning of the pandemic, to just under $60,000 (at the time of writing). But with this increasing popularity comes a big problem for blockchain-based cryptocurrencies. They are painfully slow at processing transactions. To put this into perspective, VISA process over 1700 transactions per second, whereas Bitcoin can handle just 4.5. Ethereum doesn’t fair much better at around 8. All of this means that the more transactions that are placed on these blockchains, the slower they will become. This is why the average time for an Ethereum transaction has risen from 15-30 seconds on its release in 2015 to more than 5 minutes today. With the growing popularity of Tether, DApps, smart contracts and online gaming, and other processes on the Ethereum blockchain playing a big role in that slowdown. In Ethereum’s case, this is why there is growing pressure to make fundamental changes to the currency to make it quicker. With it possible that Ethereum may drop the mining form of payment confirmation altogether for something quicker. It is this increasing slowdown that some fear may curb the rising price of Ethereum, although it is believed this will have less of an effect on the price of Bitcoin. However, where Bitcoin is encountering more serious issues is in the soaring fees attached to transactions, with the average transaction fee rising from around 50 US cents in April last year to more than $20 today. The Banks are Catching Up Another big issue for blockchain-based cryptocurrencies such as Bitcoin and Ethereum is the fact that the banks haven’t just sat back and watched over the past decade, they have been working hard to cut transaction times and costs for their customers. Within the European Union, for example, SEPA (the Single Euro Payments Area) was established in 2014, with the aim to lower costs and the time to complete a transaction within the block from three business days to less than one. Fast-forward to today, and not only are almost all SEPA payments received within 24 hours, but many are also being received as quickly as within 30 seconds. Making the traditional banking system in the EU often faster than a blockchain transaction. We spoke earlier about how the average fee of a Bitcoin transaction is on the rise (the same can be said for Ethereum, too) and now rests at more than $20. The opposite is true for the banks. In SEPA, an international transfer now costs the same as a domestic one (which is usually free). However, some banks may charge a small fee to make a transaction. All of this means that the conventional banking system (at least in developed parts of the world) is fast catching up or has superseded blockchain cryptocurrencies in terms of both speed and cost. Another reason why there is growing pressure to reform Ethereum to cut the costs and time associated with mining. Dagcoin - A Faster and Cheaper Solution What slows down blockchain-based cryptocurrencies the most and drives up fees is the payment confirmation process (mining). Not to mention the huge amounts of energy this process takes up. Recent estimates show that Bitcoin mining uses more electricity than the whole of Argentina – a country with nearly 50 million people. This is why DAG-chain based currencies such as Dagcoin payments are processed through a centralised network, which removes the need for confirmation and mining entirely. This means that Dagcoin payments are processed within 10-30 seconds. Making it possible to make a payment in a store with Dagcoin as quickly and easily as using a debit or credit card, something not possible with a blockchain cryptocurrency. Without the need to pay miners for payment confirmations, this also makes Dagcoin a much cheaper alternative as well. In fact, it doesn’t matter if you are sending 20 or 20,000 dags, the transaction fee will still be around 0.0005 dags. To put that into perspective, based on Dagcoin’s current price of 73 euro cents, this is less than one cent per transaction. Whereas blockchain-based currencies like Bitcoin and Ethereum are hardwired to continue getting slower over time. DAG-chain technology means that payments will only get faster and faster, the more people use them. And, with no miners, they use a fraction of the electricity – helping to combat climate change too. Conclusion Blockchain-based cryptocurrencies such as Bitcoin and Ethereum have a big problem, they are getting slower and more expensive over time. To put this into perspective, VISA process 1700 transaction per second. Bitcoin can handle 4.5 and Ethereum around 8 in the same timeframe. All of this means that the more people use these currencies, the slower they will become. This is why Ethereum transactions have gone from 15-30 second when it was released in 2015 to more than 5 minutes on average today. And with it only set to get slower over time, many in the Ethereum community are even pressuring for mining based payment confirmations to be dropped altogether. This has been made worse by the banks, which have got much faster and cheaper in the past decade. In the EU’s SEPA region, for instance, international payments can be received as quickly as 30 seconds and for the same fees as a domestic payment (often free). Dagcoin solves both of these issues because not only do transactions take just 10-30 seconds to be processed. The bigger the community gets, and the more people make transactions, the faster it will get. Add the fact that a Dagcoin transaction costs less than 1 euro cent no matter how much you spend, and you have a cryptocurrency that is a cheaper and quicker alternative to both blockchain-based cryptocurrencies and the traditional banking system. Join a growing community of almost 600,000 people using Dagcoin.
Visa Makes Moves to Allow Fiat Settlements Via Blockchain
Credit card behemoth, Visa, has announced its partnership with Crypto.com in order to allow fiat payment settlements through the use of the Ethereum blockchain. In order to facilitate this, Visa’s treasury will be linked with federally-chartered crypto bank, Anchorage, eventually enabling individuals to exchange USD Coin (USDC) through Crypto.com’s payment network. This method allows Crypto.com to send USDC to Visa’s Ethereum address in order to settle some of the transactions that have been sent through the site’s Visa card program. The payment giant has plans to extend this offering to large Fintech companies and banks that deal in UDSC, BTC (Bitcoin), and ETH (Ethereum). Jack Forestell, Visa’s Chief Product Officer, stated the following during the company’s announcement “(...)crypto-native fintechs want partners who understand their business and the complexities of digital currency form factors. The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency.” Although this move sheds some light on how credit card issuers and banks may continue to welcome cryptocurrency-related services and processes into their offerings, the usage of blockchain technology for such purposes may have some worrisome implications due to the blockchain’s unsustainability in regards to energy usage as well as the length of time taken for transactions.
Verify Once – Preventing Fraud for Individuals and Businesses using Dagcoin
It is almost certain that you have been asked to verify your identity when signing up for or using services online (particularly financial products and services). The reason companies ask you to verify your identity by providing a copy of your passport, ID card or driver’s license is to meet Know Your Customer (KYC) and Anti Money Laundering (AML) laws put in place by countries all over the world. But why are governments introducing these laws, and why are some companies doing this, even when no such laws exist in their country? The answer is simple, fraud! In the US alone, 14.4 million people were victims of identity theft in 2019. That is a staggering one person in every 15. In total, more than 33% of Americans have experienced identity theft at some point in their lives. Identity theft and fraud don’t just affect individuals. It is also costly for businesses too, with around 5% of all business revenue globally believed to be lost to fraud each year. That is over $5 trillion dollars a year. To put that into perspective, this amount is higher than the GDP of every country in the world except the USA and China. It is, therefore, no wonder that countries around the world have, are in the process of, or thinking about introducing KYC and AML laws. And why Dagcoin created Verify Once. In this article, we will explain the costs of online fraud on both individuals and businesses and how using Verify Once can reduce that risk for all those using Dagcoin… For Businesses In 2020, the average number of fraud attempts on e-commerce merchants in the US was 344 per month. Of those, only around 34% were prevented. Meaning that almost two-thirds of all fraud attacks on online merchants were successful last year. And when you add that attacks were up almost 25% in 2019, online fraud is not just incredibly costly for businesses, it is also worryingly on the rise. It isn’t just eCommerce merchants who are at high risk in this way either, banks and other financial service providers, online gaming companies, and social media companies are too. Businesses large and small are also at risk of criminals using them and/or their products or services as a way to launder money. In 2019, Danske Bank (one of the largest banks in Europe) closed all personal accounts for clients in Estonia as a result of a money-laundering investigation, which may have played a role in the suicide of the bank’s CEO in the country. Therefore, whatever kind of company you have, Know Your Customer (KYC) and Anti Money Laundering (AML) laws provide an excellent base for businesses to work from to combat these attacks. And, it isn’t just about employing a specialist or consultant to set up these new processes for your business and to sporadically update them according to changes in the law. This very often means employing specialised AML and fraud staff to constantly monitor and verify customer accounts. For companies who do this well, there are big rewards. For example, if you are able to verify new customer accounts quickly, you are more likely to gain and keep new clients. Likewise, good monitoring will reduce the fraudulent use of your business greatly, saving you potentially a lot of money. The harder your processes are to break, the more likely criminals will target other companies who are less prepared than yourself. Giving extra impetus to put secure KYC and AML procedures in place at your business. Verify Once processes and verifies all of your Dagcoin customers, so you don’t have to. While at the same time, meeting all KYC and AML regulations. Saving you both time and money. It does this by using state-of-the-art technology, which is not only fast but also secure. Its integrated AI means that as the criminals adapt and improve, so will Verify Once. To learn more about Verify Once or sign up, click here or email email@example.com. For Individuals We know that it can be pretty annoying to verify your identity with each new company online that you wish to use. Taking a picture of your ID card, driving license or passport, submitting this and then waiting for a number of hours or even days until you are able to properly use the account, make a deposit or withdrawal. This can be especially frustrating if you desperately need to use the service and do not have time to wait. With Verify Once, you only need to verify your identity once, you can then use any company in the Dagcoin ecosystem that accepts Verify Once without having to go through the verification process again. Pretty great, right? It gets even better, getting verified with Verify Once is much easier and quicker than any verification process you have probably ever used because it takes just a couple of minutes. All you have to do is enter your personal details, upload a copy of a valid identity document, such as an ID card, driving license or passport (we accept documents from 194 countries), and a proof of address - and you will receive an answer in just 60 seconds. Once your documents have been verified, they will be linked to your password-protected account with Verify Once – making identity theft much harder. Within this account, you will not just be able to see your personal details and documents, but also all the companies/websites that you have verified accounts with, as well as the possibility to use others whose products or services you wish to buy. Verify Once, and never have to do it again, click here. Conclusion Fraud isn’t just incredibly costly for individuals and businesses in terms of the money lost. It is also costly in terms of the time it takes to recover from being a victim of fraud and the mental stress that it causes. This is why countries around the world have or are working hard to introduce Anti Money Laundering and Know Your Customer regulations. Despite the fact that businesses are asking their clients to verify their identity for all the right reasons (to protect you and them from being a victim of fraud, and to meet KYC and AML regulations). The verification process is costly in both time and money for businesses, and frustrating for clients having to go through the process again and again for each new company whose services they want to use. Verify Once solves both of these issues. For companies, Verify Once handles the verification of clients and all of the KYC and AML regulations regarding this, saving both time and money. And for individuals, Verify Once provides exactly that, the opportunity to verify their identity just once in the Dagcoin ecosystem, and to do that in just a couple of minutes. Saving untold time in verifying their identity with each new company whose services they want to use. To learn more about Verify Once or to sign up visit: https://verifyonce.com/
German Bank Donner & Reuschel Expands Into Crypto Protection Services
— One of Germany’s largest banks is now offering ‘Crypto Protection Services — This comes in response to ‘high market demand’ within the country — Crypto protection services will be implemented within the body ‘as soon as possible’ With cryptocurrency becoming far more approachable to the layman, as well as the adoption of non-fiat currencies seeing fast-moving acceptance throughout German society, Hamburg-based bank, Donner & Reuschel, is now taking steps to integrate ‘crypto protection services’ into its service offerings. With the bank currently holding €9 billion assets under its management, this is a significant move for the German banking sector. Donner & Reuschel spokesman, Marcus Vitt, has the following to say about the decision: “We have been observing the digital assets market for quite some time and are convinced of the potential of blockchain technology also concerning classic securities transactions.” “Blockchain technology will result in the greatest structural change in the financial industry that I have been able to experience so far in my 20-year banking career.” Vitt went on to say, emphasising the importance of ensuring banks move fluidly with the ever-growing interest in cryptocurrencies amongst the broader population. However, this is just one step the centuries-old bank is taking in the midst of the changing digital currency landscape — Donner & Reuschel are intended to implement further crypto-related offerings to their services, although which form these will take is currently an unknown. On a broader level, last December the German government relaxed laws around issuers and holders of crypto-based securities requiring paper certificates as a means of documents transactions — another signifier of the nation heralding itself as one of western nations most ahead of the curve in this sphere.
Why Dagcoin Sponsors Aspiring People and Organisations
If you ask any athlete, NGO or charity, they will tell you that sponsorship is crucial for them to be able to do what they do. For organisations, sponsorship can give them the public exposure, equipment and funds they need to get a project going. And for athletes, the ability to focus full-time on sport instead of having to juggle between work and training. For some, it might even be the difference between being able to get to an event to compete and not. Giving sponsorships is not just a way for companies to gain exposure and customers, but to give back to the people and projects they care passionately about. In this article, we will run through some of the sponsorships that Dagcoin offers to individuals and organisations and the differences these make… Alvar Johannes Alev Alvar Johannes Alev, 27, is a talented cross country skier from a tiny village in south Estonia, who missed out on qualification to the winter Olympics in 2018 by just 0.7 seconds to an athlete who would be suspended from competition due to doping the following year. Despite this devastating setback, Alvar still has big ambitions to go to the Winter Olympics in 2022 and bring back gold. As Alvar says himself, “skiing is a sport that requires everything out of your body”, and with his training taking up around 100 hours per month, financial support is crucial for him to focus on his training and be in his best possible condition for competition. As he puts it, “there are no athletes that can make it to the top without any financial support”. Having been a member of the Estonian cross country skiing team for the past ten years and a 2nd place in the US NCAA championships to his credits, we are fully behind Alvar’s quest to get to Beijing 2022. World Cleanup Day World Cleanup Day began in Estonia in 2008 with one simple aim, to clean up the small Baltic nation of Estonia. On that first day, more than 50,000 people removed more than 10,000 tonnes of waste in only 5 hours. The event quickly gained media attention worldwide, and by 2019, had snowballed into an event that attracted more than 20 million people from more than 180 different countries. The future of our planet is something we care deeply about at Dagcoin, and that is why we help World Cleanup Day to raise awareness and support community efforts. In 2021, due to the pandemic, this years event on March 20th will be a Digital Cleanup Day. To learn more and take part, click here. Max Vorovski It is fair to say that 2020 was a frustrating year for many sportspeople, with many scheduled events, tournaments and competitions, being cancelled, postponed or played behind closed doors. Like many other sportspeople this has also been a big problem for Estonian professional kickboxer Max Vorovski, who saw two events cancelled and was unable to fight in 2020. For fighters, like many other sportspeople, they need to compete to earn money to live. Therefore, having good sponsors that stick by athletes during this difficult time is important. With the help of sponsorship from Dagcoin, Max has been able to keep training throughout the pandemic and looks to get back to his quest for a middleweight world championship in 2021. And with six wins over former world titles holders on a record that included 32 wins in 38 fights, we continue to support Max as he fights for glory. Junior Chamber International Just like World Cleanup Day, when you are doing something good, it is amazing how quickly it spreads and how many people become involved. Today, Junior Chamber International (JCI) has more than 11 million members in over 120 countries around the world. This is a world away from its origins, with an 18-year-old young man named Henry Giessenbier beginning the Herculaneum Dance Club in his hometown of St Louis (USA) in 1915. The organisation’s (whose member are all aged between 18-40) main aim is to make the world a better place for future generation. They do this by working on community projects that aim to combat climate change, eliminate poverty, and fight inequality – a topic that has been at the forefront of peoples minds and action over the past year. Where Junior Chamber International excel and succeed is that they engage with entire communities from the old to the young, and the unemployed to the big business owners to understand issues and work together to find long-term sustainable solutions. Dagcoin support JCI wholeheartedly in its goals to fight inequality and injustice, end extreme poverty, and combat climate change by 2030. To learn more about what JCI is doing in your local area or to join, click here. Jüri Vips Just last May, we wrote how Juri Vips (then 19) was an up-and-coming Formula 3 race driver, who had had ambitions to test an F1 car, and, ultimately, go on to win the F1 Championship. After finishing 4th in the Formula 3 championship in both 2018 and 2019, one of his dreams came true in 2020. He became the reserve driver for the AlphaTauri and Red Bull F1 team at last year’s Turkish GrandPrix. Although these duties and the Covid-19 Pandemic curtailed his first season in Formula 2 (one tier below F1), he is looking forward to a full season in Formula 2 in 2021. And, as we reported in November last year, because he now has his FIA Super License (that allows a driver to compete in F1), he is just a few good results away from reaching his ultimate goal - to compete for the Formula 1 championship. At Dagcoin, we are so happy to see that our sponsorship is helping Juri edge ever closer to his dreams and are proud of his continued achievements. Conclusion We speak a lot in this blog about Dagcoins aim to provide billions of people in the developing world an alternative to cash for the first time and a way out of extreme poverty, and how Dagcoin is a greener alternative than both fiat and mined cryptocurrencies. These aims match those of both JCI and World Cleanup Day, and this is why we sponsor and work with these organisations. Buts it also worth noting here that without sponsorship Alvar Johannes Alev would not be able to focus solely on his training and goals to reach the Winter Olympics next year, Max Vorovski would have struggled to get through 2020 without any income, and Juri Vips would not be in touching distance of competing in Formula 1. At Dagcoin, we will continue to support organisations with similar goals, as well as talented individuals, to reach their goals. This is just the beginning!
Japanese E-Commerce Platform Rakuten Now Accepts Crypto Payments
In a recent press release, Japanese online retail company Rakuten announced their plans to begin accepting various cryptocurrencies as payment for goods and services. These payments are converted from the buyer’s chosen currency to ‘Rakuten Cash’, the firm’s own currency, at the point of sale, thereby allowing Bitcoin, Ethereum, and Bitcoin Cash payments across the thousands of partnered merchants across Japan. “For the first time in Japan, there is no limit on the transaction amount and no fee is charged for charging crypto-assets” said the e-commerce giant on their breakthrough move on allowing limitless and fee-free crypto exchanges within the country. With Rakuten boasting almost 100 million registered users, this is far from a small move and is further evidence of the necessity for large scale companies to adapt to the burgeoning landscape of digital currencies.
DagWallet or WebWallet, which is best for you?
For those of you that are new to Dagcoin or perhaps cryptocurrencies in general. Deciding which Dagcoin wallet to choose might seem a bit confusing. Thankfully, in this week’s post, we will talk about the two different Dagcoin wallets, their advantages and disadvantages, as well as (most importantly) help you to decide which is best for you. But let’s start by learning a little about crypto wallets in general… What is a Crypto Wallet? We all have wallets and purses, where we keep our cash and cards. Crypto wallets serve exactly the same purpose, providing a safe place to store and access our money. Allowing us to buy goods and services, as well as transfer money to family and friends quickly and easily. Where they differ from a regular wallet, however, is that no money is actually stored in a crypto wallet. What they do store are unique keys that are used to communicate with the blockchain (or similar technologies such as Dagchain). It is from these that you can make transactions or check your balance. Broadly speaking, there are three main types of cryptocurrency wallets: Online Wallets – These are wallets that store your unique keys in the cloud. Mobile or Desktop Application – These apps store the keys solely on your PC or mobile device. Hardware Wallet – These store the unique keys completely offline in devices similar to USB sticks. Below we will discuss the two types of crypto wallets provided by Dagcoin. The DagWallet, which is a mobile/desktop application, and the Webwallet, which is an online wallet. DagWallet The main aim of Dagcoin is to provide a digital currency that is as useable as possible and accessible to everyone – especially those on the lower end of the economic ladder. That is why the free DagWallet application can be downloaded on both Android and Apple mobile devices (via the Google Play and App Store, respectively), as well as on Windows, Apple, and Linux PCs. The Android app works on devices from version 5.1 up, meaning that almost all smartphones developed after around 2014 or so, should support the app. As for Apple, any device from the iPhone 5 up will run the app. This means that it is possible to use DagWallet on cheap and old second-hand devices that can be bought for as little as $10. It is great to say that DagWallet is available and accessible to so many people, but what does it actually do? As described above, it is an app that enables you to check your balance, transfer money, and even buy products from a shop or café in person (if they accept Dags), all from your mobile device. This makes DagWallet a digital wallet that you can carry in your pocket. However, unlike a regular wallet, where if your cash is stolen, it is gone forever, if thieves steal your phone, they will not be able to access your DagWallet or use your money. This is because only you hold the passwords to access and use your Dags. This makes DagWallet even safer than credit and debit cards, which can often be used to buy things online or make small purchases in person without a pin code or other protections. You also don’t have to wait many days or weeks to get access to your DagWallet again if your device is stolen, all you have to do is download the app to a new device, log in, and you are good to go. Because your unique keys are stored on your device, this makes it very safe. However, there is one small downside — you can only access your Dags from one device. But what if you want access to your money from multiple devices or you don’t have your own smartphone, tablet or PC, or your device is shared by everyone in the household? We have a better option for you… WebWallet Where the WebWallet differs from the DagWallet is that you can access your Dags from any internet-enabled device, at any time. This is because the WebWallet stores your unique keys in the cloud. This is the perfect choice if you have multiple devices you want to use to access your money. For example, your smartphone, laptop, and work PC. Likewise, if you do not own a compatible device yourself, this can be shared by your entire family, or even by your whole community. Because the WebWallet can be accessed from any internet-enabled device, this gives people in the poorest and most remote regions an alternative to cash for the very first time. And this is more people than you may think. In 2019, more than 2 billion people around the world still didn’t have access to a bank account, equating to a mindblowing 1 in 4 people. The WebWallet doesn’t just provide an alternative to cash, it is also a safe place to save money and earn interest. But best of all, both the DagWallet and WebWallet can be used to help people build a credit history. The only small downside to the WebWallet is that because your unique keys are stored in the cloud, they are slightly less secure than if they were stored on an individual device, which is what the DagWallet provides. Which Dagcoin wallet is best for you? To make this choice easier, let’s break it down into a few categories: Security – if you want your money to have an extra layer of security, choose the DagWallet. Use on Multiple Devices – If you would like to have access to your Dags using multiple internet-enabled devices, choose WebWallet. You do not have your own smartphone, tablet or PC – choose WebWallet You want to make in-store purchases – choose DagWallet Best of all, whichever Dagcoin wallet you choose, it is free to download and use. In turn, with each transaction taking just 10 seconds (wherever it is sent in the world) and costing just 0.0005 Dags, you have access to a much faster and cheaper alternative to the regular banking system. To download your Dagcoin wallet, click here. Alternatively, if you would like to learn more about getting starting with Dagcoin, read our how-to guide. Join a growing community of nearly 600,000 people using Dagcoin.
Uber CEO States the App is Open to Crypto Payments
Uber’s CEO, Dara Khosrowshahi, said in a recent interview that the ride-sharing giant will consider accepting cryptocurrency payments through the platform in the future. "Just like we accept all kinds of local currency, we are going to look at cryptocurrency and/or Bitcoin in terms of currency to transact(...)" Khosrowshahi said in an interview with CNBC. “That's good for business, that's good for our riders and our eaters, so we'll certainly look at that. And if there's a benefit there, if there's a need there, we'll do it, we are just not going to do it as part of a promotion." he went on to say, highlighting the importance of this type of payment needing to be necessary if implemented. Uber’s consideration of cryptocurrency payment methods echoes the sentiment of many other merchants around the world that are very quickly moving towards similar models.
SWIPEX — THE WORLD’S BEST CRYPTO EXCHANGE PLATFORM
If you’ve spent some time exploring the wider dagcoin ecosystem you may have come across the name ‘SwipeX’. But what exactly is SwipeX? In short, it’s a way to convert your fiat currency to Dagcoin quickly, cost-effectively, and most importantly, securely. The way it works is very straightforward: after creating an account, you can start trading various cryptocurrencies. Yes, that’s right: Bitcoins, Bitcoin Gold, Bitcoin Cash, Dagcoins etc. The more, the merrier we say. SwipeX runs on all devices and has a dedicated customer support team ready and able to assist you at any time. In addition, SwipeX has been granted two important licences by the Estonian Government: Licence number FRK000053 – Providing a virtual currency wallet service. Licence number FVR000071 – Providing services of exchanging a virtual currency against a fiat currency. Great! How do I get started? For you to start using the platform and make the most of it, i.e., trading your crypto money and doing it successfully while you’re at it, there are two very simple things you need to do. First ‒ create an account. Second ‒ go through a quick verification process. For that you need to have your ID card and proof of address at hand. NB! This is mandatory for everyone who’d like to use SwipeX. After you’ve finished signing up, we also recommend activating the two-way authentication control, just to be on the safe side ‒ better safe than sorry! Check out other great projects we have, like the Merchant Finder, WebWallet and DAG-chain. If you have questions or you would like to know more about cryptocurrency or SwipeX get in contact ASAP! We’d love to hear from you.
PRIVATE CRYPTOCURRENCIES TO FACE A POTENTIAL BAN IN INDIA
A bill seeking to outlaw the sale and purchase of private cryptocurrencies within India is soon to be considered by the nation’s parliament. The bill, known as the Cryptocurrency and Regulation of Official Digital Currency Bill, doesn’t just seek to regulate private cryptocurrencies, but instead enact an outright ban of them, teeing India up to be the only major nation in the continent of Asia to do so. Although private cryptocurrencies would be banned under this bill, the underlying technology would not. This is in part due to the bill being enacted in order to pave the way for the Reserve Bank of India (RBI)’s planned digital currency rollout. Despite the bill outwardly seeming likely to pass due to the BJP’s majority control in Indian parliament, the specifics of the bill still remain largely unknown to the public. We will provide updates on the situation as it progresses.
Dagcoin 2020 Year in Review
2020 saw many changes for the wider Dagcoin ecosystem. From exciting updates on existing platforms to the launch of brand new ones, it's been a bumper year for the Dag-family. This year alone has seen a staggering number of dagcoins distributed to both new and existing users, resulting in almost three billion coins (~2.7B) in circulation. We're also thrilled to announce that over 130,000 new dagcoin users have jumped aboard since the start of 2020, as well as around 800 new merchants now officially accepting the currency in-store. Beyond this, we've launched a variety of new platforms that all accept dagcoin. Some of the highlights include Dagmarket Jobs, a new job listing platform allowing skilled workers to provide services to anyone that needs it in exchange for dagcoins, as well as TwiceDice, a new online casino and betting platform which utilises Dagchip — a digital chip that exists alongside Dagcoin! That's not all though! For the full lowdown, including all the exciting developments for merchants, check out the video above, and don't forget to keep your eyes peeled for all of the exciting things to come this year — 2021 is going to be even bigger!
Bitcoin Sees Largest Daily Price Loss in Almost 1 Year
It seems there’s no end in sight for Bitcoin valuation turbulence, with the world’s best-known cryptocurrency seeing its most dramatic drop in value over the past 10 months in just one day. On Thursday 21st Bitcoin ended 13% down by EOP. Many experts are claiming this is an anomalous dip, and that the currency will regain its value swiftly. This drop in value has nullified almost all year-to-date gains, bringing the Bitcoin 2021 total increase in value to just +6%. This is a devastating blow considering the cryptocurrency’s tremendous boost in value to around 42,000 USD earlier this month.
EU Parliament to Assess Petition for Crypto Fraud Victim Superfund
Last Wednesday a petition was formally sent to the European Union parliament to have the body consider the option of establishing a ‘Crypto Assets Fund’ for those who have fallen victim to a cryptocurrency-related crimes and/or theft. Jonathan Levy, lawyer and creator of the petition, is representing clients who together have lost a total over €50 million, and is supported by class representatives of the individuals adversely affected by the high-profile Bitsane exit scam. “Every day $100 billion in unregulated cryptocurrency transactions take place. Much of that activity involves organized crime and represents the largest transfer of wealth to criminals since the Second World War. Billions of dollars have been siphoned from victims of criminals schemes. Our goal is nothing less than the establishment of a Cryptocurrency Security Fund to compensate victims.” - Jonathan Levy According to Levy’s petition, he and his clients wish for the EU to implement a .0001 cent per euro fee on all cryptocurrency transactions within the union in order to generate a pool of funds to aid victims of related crimes. To date, the petition has generated 46 supporters. The EU Parliament has yet to discuss the matter, or provide an official response.
How does Dagcoin and V-ATM Benefit Merchants?
2020 was a turbulent year to say the least. However, as 2021 dawns, so does the hope of a slow return to normality. The beginning of the year is always important for businesses, with January sales a big part of that. Did you know that on average consumer spending in January is higher than in December? In this blog, we have talked about the many benefits of accepting Dagcoin as a payment method and how it can help improve sales, including: The free Merchant Finder tool that provides free advertising for your business to a growing community of more than 500,000 Dagcoin users worldwide. The free Point of Sale (POS) app that makes it possible to accept Dagcoin payments in your shop just as quickly as card payments. The free Webshop Plugins that make it possible for you to accept Dagcoin payments quickly and easily at your online store. The free email Invoicing tool that enables you to create and send invoices in seconds, and get paid in the same timeframe too. In this article, we will talk about yet another benefit of accepting Dagcoin, V-ATM! But what is V- ATM and how can it help you improve sales in 2021? Let’s find out… What is V-ATM? Put simply, V-ATM is a Virtual ATM that allows you to sell Dagcoins to your customers so that they can buy products from you at a discounted rate using Dagcoin. Where this gets good is the fact that we will reward you in Dags and Euros for selling the coin. This means you will get paid twice, once from the customer and once from us. Giving you the opportunity to offer your customers discounts that your rivals won’t be able to compete with, even the big boys. This is a real win-win for everyone involved. You will attract more customers by offering bigger discounts and earn twice (from us and them). Your customers will get a fantastic deal too, which will make them want to use you again, and Dagcoin will get more users. Moreover, your customers will be buying Dags from you at the current exchange rate. Making your V-ATM a fair place to buy Dags, adding further to your trustworthiness as a retailer. Interested? Keep reading… How it Works – For Merchants Signing up to V-ATM and offering discounts to your customers is a simple 3-step process: Step 1 – Signing up As with almost anything these days, the first thing you will need to do is sign-up online. To do this you will need to go to the Dagpay page and login to your account (if you don’t have Dagpay yet, don’t worry, you can also sign-up here too). Once you are in your account, all you have to do is click on the V-ATM section and follow the on-screen instructions. Step 2 - Print and present the QR code We will review your application, and if all is good, we will send you approval along with everything you will need to get started. In this acceptance pack, you will receive QR banners that you can print out and display in your shop or business location alongside your discount offer. Step 3 - Sell your products using the V-ATM QR code and double your profits This is the easiest part, and what you do best – selling! Encourage your customers to take advantage of the discount they will get by using the V-ATM QR code to buy Dagcoins and pay for the product they want. Because you will be paid by both the customer and us for each sale, you don’t just have the chance to double your profits, but to offer discounts that your competition won’t be able to match. Attracting more customers, reducing churn, and maybe even getting back some old customers that you lost to rivals in recent months or years. How it Works – For Customers In this section, we will cover the process from the customers perspective so that you can guide them if they need any help. Step 1 - Scanning the QR Code The very first thing your customers will need to do is scan your V-ATM QR code using their smartphone. If they do not have an app on their phone to scan QR codes, there are many such apps available for free on both the Google Play and App Stores. Step 2 - Downloading DagWallet The next thing your customers will need to do is download DagWallet. This is the virtual wallet where they can store their Dagcoins and make/receive payments using the coin. They can download DagWallet (and learn more about it) here. Step 3 – Buying Dagcoins Now that your customers have a DagWallet and have been verified, they can now buy Dags from you using the V-ATM at the current exchange rate. This is the same process as a regular Dagcoin transaction, and they will receive Dags to their wallet within 10 seconds of making the purchase. Step 4 – Paying for their Products They are now at the final (and best) part of the process – the purchase of the discounted products. This discount will make your customers happy and more likely to return in the future. In addition, you will receive double the profit too because we will also pay you. It truly is a Win-Win! Conclusion V-ATM is a Virtual ATM that allows you to sell Dagcoins directly to your customers so that they can buy discounted products from you using Dagcoin. We will then reward you in Dags and Euros for selling the coin. Meaning you will get paid twice, from the customer and from us. Because you are getting paid double, this means that you can offer discounts that will make you cheaper than your rivals, maybe even the big boys like Amazon. With such discounts, not only will you be able to make more sales, you will also attract new customers, reduce churn, and even get back those clients that you lost in previous months and years. Setting up V-ATM is simple and easy. All you have to do is: Go to the Dagpay page and log in to your account (or sign up if you don’t have an account) click on V-ATM and follow the online instructions. Print your individual QR code and display it with your discount promotion in your store or business Sell the discount your clients will get from using Dagcoin V-ATM to buy products from you. Start 2021 the way you want to continue, with more sales and higher profits. Click here to get started. Join a community of more than 1300 merchants and 500,000 clients using Dagcoin.
China Doubles Shenzhen Digital Yuan Giveaway in Newest Trial
We’ve previously covered China’s creation and rollout of the ‘Digital Yuan’ in the tech-focused city of Shenzhen, however, the journey of the latest state-approved digital currency has taken a turn. As of the 1st of January 2021, the government opened a lottery up to the public through the ‘iShenzhen’ platform, allowing citizens to enter a drawing to win one of 100,000 prizes of 200 Digital Yuan (equivalent to around $3 Million). The previous distribution, taking place in late 2020, put 10 million Digital Yuan in the hands of citizens, meaning the latest lottery is set to triple the total amount in circulation at the moment. This is a testament to the Chinese government faith in the Digital Yuan, as well as their resolve to persuade the public to place their faith in the burgeoning digital currency scene. For those of you that may have missed the news, the government-run People’s Bank of China (PBoC) has begun rolling out its very own digital currency known as ‘DCEP’ last year. This move came in part due to the reliance of the dollar in international finance, and the PBoCs desire to break this standard and create a new ‘battlefield of competition’ between major countries.
4 Ways Dagcoin Is Protecting The Environment
As I write this, an iceberg the size of Jamaica is on a collision course with the South Atlantic Island of South Georgia. This is the largest iceberg ever recorded and is another worrying sign that global warming is speeding up. It is becoming clear that when we get in our cars to hop around the corner, turn the heating up one or two extra degrees or jet off on our summer holidays, we are playing our part. Even if we recycle, conserve energy, walk, or ride our bikes, we are still consuming goods and services that are causing global warming and sea-level change. It is only when we all work together and play our part that we can save our planet. Not only for future generations, but also for the diverse flora and fauna that we share this wonderful planet with. One of the biggest driving forces behind creating Dagcoin was to play a part in securing this better future. In this week’s post, we will explain how Dagcoin is helping to save the planet. Dagcoin reduces the need for paper Fiat currencies, such as the dollar, pound, and euro all use paper money. This means that many millions of trees are needed each year just to make money. This is made worse because paper money doesn’t last very long. The average one-dollar bill is in circulation for just 18 months. Compared to 25 years for a 1 cent coin. And it gets worse. If you visit your bank, you will probably be asked to fill in forms or sign documents. In addition, you might also receive bank statements and offers in the post - using yet more paper. On top of this, the chemicals that are used in the money-making process pollute local water sources, poisoning natural habitats and farmland. Dagcoin’s cashless system removes the need for paper money and documents. Meaning fewer trees are cut down, and less poisonous chemicals enter our water sources. Reducing CO2 levels and protecting vulnerable habitats Dagcoin reduces the need for plastic Countries do not just use paper to make money, they also use plastic. In fact, some countries, like Australia, use money that is entirely made out of plastic. Although it lasts longer than paper money because it doesn’t rip or tear. Its consequences for the environment are very clear. Plastic takes around 1000 years to decompose in a normal landfill site. Not only does it take a long time to decompose, it also releases dangerous chemicals when it does. In a landfill, these chemicals can be contained, but when you see the countless news reports about the amount of plastic in our oceans, the future consequences seem very bad indeed. Credit and debit cards have made it quick and easy for us to make payments both in person and online, and reduced the need to carry cash. However, because they are made almost entirely out of plastic, they are having a negative effect on our planet. Because Dagcoin is a virtual currency and all payments are made online, there is no need not just for paper money, but also debit and credit cards. Reducing plastic waste and the hazardous chemicals released when it degrades. Dagcoin promotes nature conservation Earlier this year, Dagcoin teamed up with the Clean World Conference to help plan the cleaning of our planet. In 2018, over 17 million people from 157 countries simultaneously came together on World Cleanup Day to clean waste from beaches, streets, rivers, and forests. People and businesses can take part in the event as volunteers, sponsors or partners. Because this is a cause that Dagcoin is passionate about there was only one choice. To partner with the conference and event, not just helping to organise the event, but to spread the word and get more people involved. The next World Cleanup Day is on the 18th of September 2021. Click here to find out more and get involved. Dagcoin creating awareness Just 50,000 people took part in the first World Cleanup Day ten years ago, and look where it is today. It has grown into a massive worldwide event purely by one person bringing a friend and one business attracting another. Dagcoin was created from the ground up, not just as a groundbreaking digital currency that anyone can use anywhere. But as a currency that champions the protection and preservation of our planet. Partnering with the Clean World Conference didn’t just help people to become aware of the event, but also encourages more businesses to join the cause. The more people and businesses that are working together to save our planet. The cleaner our oceans will be, the less waste we will create, and the more habitats we will preserve. Conclusion We have reached a critical point in the story of our planet. No other species in history has changed the earth so much. Human-induced climate change and the destruction of habitats has killed of countless species, and many more are on the brink of extinction. By creating a virtual currency, Dagcoin has reduced the need for paper money. Preserving forests so that they can absorb CO2 and reduce the effects of climate change. In the process, saving the homes of many threatened species. On top of that, the virtual nature of the currency reduces the need for plastics in the form of debit and credit cards. Our landfills and seas are full of plastic that will not just take thousands of years to degrade, but when it does, it will release hazardous chemicals. Reducing the use of plastics will reduce the effects of these chemicals on our planet. Dagcoin has partnered with the Clean World Conference to help plan and promote World Cleanup Day. This partnership has encouraged more people and businesses to join the cause. And this is just the beginning. Join us in preserving our beautiful planet! Have we missed something? Do you have any questions? Get in touch…
Ford study finds Blockchain-type technology can help improve air quality
A 3-year study conducted by the Ford Motor Company has yielded some very promising results around the viability of blockchain-type technology integrated into smart cars. The study, conducted across Cologne, Valencia, and London, tested Ford’s new plug-in hybrid-electric vehicles (also known as PHEVs) which utilise ‘dynamic geofencing’. This geofencing technology allows the vehicles to automatically switch to an zero emission mode when entering a low-emission zone, without any intervention from a human being. This technology, coupled with blockchain-based data storage, allows this data to be safely stored and assessed by government bodies city councils. “Our research has shown how plug-in hybrid vehicles, and emerging connected technologies such as dynamic geofencing and blockchain, can play a major role in transforming cities,” said Mark Harvey, Ford’s director of enterprise connectivity in a recent press release. With more and more major cities now adopting or expanding low-emission zones, this type of vehicle functionality will become more and more necessary, however, due to each blockchain entry requiring each ‘block’ along the chain to be checked from latest to earliest, over time the server power required to carry this out becomes larger and larger. This has meant that today, the transfer of a single bitcoin is extremely environmentally unfriendly. This means that the widespread implementation of blockchain-based technology for dynamic geofencing may eventually nullify any positive impact it may initially have. Fortunately, there are alternatives. With Dagchain technology, only the previous ‘block’ requires checking before a new entry is successfully added to the digital ledger, meaning the environmental impact is static, and minimal.
WITH CRYPTOCURRENCY YOUR MONEY IS YOURS ALONE
Doing stuff together is great — a necessity even (albeit a slightly difficult one given the current global situation). Cooperation allows us to understand each other better and takes us forward. But there’s one thing that should only be for ourselves. Money. It should always be a party for one. It should always be you who’s the sole owner of your finances. Not banks, and certainly not other institutions. And guess what? Cryptocurrency makes that a reality. Unfortunately, it’s rather common that money has many “owners.” What does it mean? When your funds are stored in a bank (chances are yours is), the bank is a tertiary owner of that money — your money. Some people even go as far as saying that once your money is in the traditional banking or credit card system, you turn over your stewardship of the funds to a third party. As we all know, three’s a crowd. The issue here lies in the fact that the third party, or bank in this case, will have power over your assets. Ouch. But cryptocurrency is different Do you know what makes cryptocurrency better than anything else out there? It’s just so easy. Unless you’ve willingly given access to your crypto wallet over to a third party, it’s you who’s the sole owner of anything within it, including the public encryption keys! If it wasn’t enough that only you, and you alone, can move your cryptocurrency around, it’s also ultra-safe. The future is now It almost sounds silly to say outright, but this finally means that you can own your own money. The era is cryptocurrency is finally upon us, and very soon we’ll be doing away with the financial institutions that have forced us to relinquish control of our own assets to them for far too long. If you feel like taking control of your own capital, then be sure to grab a Dagwallet of your very own. We can’t wait to have you aboard!
Uncertainty grows as Bitcoin sees a turbulent month
Seeing an unprecedented increase in value, followed by a catastrophic drop mere days later, Bitcoin has once again proved itself as one of the most volatile cryptocurrencies on the exchange. The start of the month saw those sitting on BTC jumping for joy due to the currency propelling itself to a high of $19,464 on December 3rd. With the U.S. Dollar’s slump serving as a backdrop during the same period, many began to see crypto as a safer investment than fiat. However, this uptick was short lived, with BTC crashing down to a concerning $17,630 mere days later. Although there’s since been some recovery for the world’s most well-known digital currency, this short-term turbulence has yielded much uncertainty for its future. Andrew Tu, of crypto trading firm Efficient Frontier, attributed this fluctuation to “bullish exhaustion”, stating “After failing to break the all-important $20,000 psychological figure several times, having been held down repeatedly between $19,000 and $20,000 over the last two weeks, we are now seeing a correction for BTC.”, a sentiment echoed by many others in the field. Bitcoin’s immediate future may be thrown into question due to recent events, but fortunately, this degree of uncertainty isn’t standard for all cryptocurrencies. Being entirely centralised, currencies like Dagcoin continue to grow in value with steady momentum. Ideal if you’re wanting to get started with digital currency. To find out more about Dagcoin and the wider ecosystem, head here.
Discover the fastest growing Explore the ecosystem
1. Download wallet
Download the free DagWallet application to your phone or computer, or set up a Dagcoin webwallet account.
2. Get dags
There are many ways to get dagcoins – purchase from SwipeX, receive a Dagcoin Gift Card, or start accepting dags with your business. Find out all the options!
3. Discover the ecosystem
We are building the widest ecosystem for a crypotucrrency ever. This will fuel Dagcoin on the road of becoming the biggest and most usable cryptocurrency in the world.