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|
|Total distribution:||9 000 000 000 dags|
|Coin distribution:||5% – team, founders, advisors 95% – community|
|Distributed coins:||3B dags|
|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.
President Biden Issues Sweeping Crypto Executive Order
In a first-of-its-kind executive order, US President Joe Biden instructed federal agencies to coordinate their efforts in creating cryptocurrency rules. The executive order, which is the first of its kind to focus only on the rapidly rising digital asset sector, orders federal agencies to better explain their work in the industry, but it does not specify any specific stances the administration wants agencies to take. “We remain committed to working with allies in the broader digital asset community to shape the future of digital assets systems in a manner that's inclusive, consistent with our democratic values and safeguard the integrity of the global financial system(...)” stated an official According to a fact sheet provided to reporters, the executive order would set six key priorities for the administration: defending U.S. interests, protecting global financial stability, avoiding illegal uses, fostering "responsible innovation," financial inclusion, and U.S. leadership. The executive order's focus has long been speculated to be on national security. National security is mentioned a few times in the fact sheet describing the order, and an administration source said the government has already started working on resolving these issues.
How Should Currencies Like Dagcoin Be Valued?
What is the true value of something? Items we purchase can also lose value over time as a result of wear and tear or new and better technologies. Computers and phones are great examples of this. Buy a $1000 smartphone today, and in just 5 short years it will be practically worthless. But what exactly creates the value behind the money in our pockets or the cryptocurrencies in our digital wallets? And, should this change? How Were Regular Currencies Valued? Classic metal coins – what we would call money today – began to enter circulation thousands of years ago. This money gained its value from the material it was made of, a gold coin obviously being more valuable than a silver, bronze, or even copper coin. This system was in place until the advent of paper money which worked on the premise that paper or non-precious metal coins provided by a bank or government could be exchanged for a certain amount of a precious metal if the holder of the money wished. For example, one British Pound used to be exchangeable for approximately 450g of silver. How They’re Valued Today However, today, no major currency in the world bases its value on an exchangeable weight of gold, silver or any other metal. The problem with this was that no country could increase how much money was in circulation without also increasing the amount of gold, silver, etc., that it held in its reserves. A fiat currency creates its value based on how much of the currency is in circulation, the number of people who are using it, as well as the health of the national economy it is from. This kind of currency gives governments more options. For example, when we look back at the financial crisis 10 years ago, governments were able to print more money. This meant that there was more money in the system that could be lent out to both individuals and businesses who could use this to buy goods or services, hire more workers or expand operations, the aim being to stimulate growth. What Should The Value of Cryptocurrencies Be Based On? We must understand that with cryptos, there is no bank or government in control of them and that almost all of them have a fixed number of coins in circulation or that can be mined. For this reason, no additional coins can be created to stimulate an economy during a downturn or even be taken away when inflation is too high. Cryptocurrency can only realistically be based on the size of the community using it, the number of businesses who accept and the number of transactions that take place each day using it. This is why Dagcoin has been created with a focus on usability. This has been done by creating a free suite of software to make it easy for businesses to start accepting Dagcoin. This software attracts merchants, which attracts users, which in turn attracts more merchants, and so on. So far Dagcoin has grown to over 300,000 users and 700 merchants worldwide. This focus on usability also means that Dagcoin cannot be traded and is found on no such exchange for that reason. Once the community is huge, Dagcoin will be valued by the laws of supply and demand. This will happen when the usability has reached levels that the price of Dagcoin is not influenced by trading. Conclusion Today, money gains its value from the government of the nation that controls it, the number of people using the currency and the state of the national economy. People have trust in the currency and trading does not influence the everyday price of it. Cryptocurrencies cannot gain their value in the same way in the beginning, therefore the value must be first based on: The number of people using the coin The number of businesses that accept the coin The number of daily transactions using the coin …and that’s exactly how and why Dagcoin is valued in this way.
EU Taking Steps Towards Crypto Regulation
Last month, the Economic and Monetary Affairs Committee of the European Parliament voted 31-4 in support of a revised draft of the Markets in Crypto Assets (MiCA) framework, with 23 abstentions. The framework generally encompasses cryptocurrency issuance and trading, and it promises to make it simpler for crypto businesses to develop throughout the EU's 27 member states by supporting a passport-type license that would be valid across borders. "Finally, the agreed text includes measures against market manipulation and to prevent money laundering, terrorist financing and other criminal activities(...)" Previously, the committee agreed to repeal a measure that intended to restrict the usage of cryptocurrencies that relied on the energy-intensive consensus method known as proof-of-work. The law may have effectively prohibited the use of the popular cryptocurrency Bitcoin (BTC) throughout the EU. Instead, the committee voted in favour of an alternative provision that would require the European Commission, to submit a legislative proposal by 2025 to include any crypto-asset mining activities that contribute significantly to climate change in the EU. Members of the European Parliament also mentioned that other sectors, such as video games, entertainment, as well as data centres, use energy resources that are not environmentally benign. They want the Commission to work on legislation that addresses these challenges in a variety of areas.
How Dagcoin Eliminates Tax Evasion and Fraud
Paying taxes It’s fair to say that no-one really enjoys paying taxes. However, almost all of us pay our taxes dutifully because of the wider societal benefits, as well as for us as individuals. For those of you that pay your taxes, it is a bitter pill to swallow seeing billionaire owners of large corporations like Google and Amazon get away with paying almost no tax. It is made worse by poor government decisions. Like billions squandered on worthless projects or services that are promised, but never actually materialise. In some cases, fraud and embezzlement by politicians and their associates also see much of your hard-earned money lost forever. Is Cryptocurrency a solution to tax fraud? In total, it is believed that companies lose on average around 5% per year as a direct result of fraud. But just how could cryptocurrencies solve this problem? That is very simple: transparent transactions! For example, all tax money paid by large companies and rich individuals to the government will be clearly visible. Likewise, at the same time, government funds that are set aside to pay for certain services, such as education can be seen and tracked. For this reason, any under or overspending can be easily seen, along with who is receiving the payment and for what services. This makes it much harder for politicians to take some of this money for themselves or to provide preferential or overpaid contracts to friends, relatives or business associates. With cryptocurrencies such as Dagcoin, it is much harder or impossible to commit such crimes similar in nature to credit card fraud. Because no physical card or card details are provided. With a regular card, it can be swiped and cloned in a store or restaurant very easily, details can also be stolen from an online store database, or even provided to criminals directly, but unknowingly. With a cryptocurrency, you and you alone have access to your cryptocurrency wallet. Even if someone were to steal your phone, they would not have access without knowing your passwords. For businesses too, there would be a huge advantage of no fraudulent chargebacks. Chargebacks cost businesses around the world over $40 billion each year. A chargeback happens when a person pays for goods or services using their credit/debit card and then asks their bank to take this money back from the business. However, in the case of fraud, the client has likely already received the services or goods, or these goods are already on route. By the time a business is aware of the fraudulent chargeback, the client is often long gone with the money and the goods. As cryptocurrencies like Dagcoin do not have chargebacks, businesses can relax without the worry of chargeback fraud. Why Dagcoin is the most transparent currency Dagcoin was not just built to be a currency that could be used every day, by everybody, everywhere, it was also made to be the most transparent cryptocurrency. Currencies such as Bitcoin have hit serious legal problems in many countries around the world as a result of the anonymity of transactions, and their use to pay for illegal goods secretly in places such as the dark web. This has led to Bitcoin and other cryptocurrencies being banned in some countries around the world. It is these problems that have hindered their expansion into the mainstream, as the wider global population and governments simply do not trust them as they are not transparent enough. Unlike other cryptocurrencies, Dagcoin keeps a full transaction history, just like you have with your bank statement. This doesn’t just mean that it can be used in the same way, to track income and expenditure or as a record when applying for a loan or mortgage. Knowing the senders, receivers and values of these transactions makes Dagcoin as transparent as a regular bank account, but with added security. Conclusion Large corporations and very wealthy individuals are getting away with paying very little or no tax. Governments and politicians are wasting and even embezzling public money for themselves. At the same time, benefit frauds are also costing the system billions. All these things mean that regular dutiful taxpayers like you and me are left to foot the bill by paying even higher taxes. However, cryptocurrencies such as Dagcoin offer a solution. That solution is transparency.
Crypto Markets Maintain Resilience Despite Impact of Ukraine Conflict
Despite the gigantic impact on the global financial market as a whole, cryptocurrency markets have remained somewhat stable despite the ongoing invasion of Ukraine by the Russian state. According to David Duong, Coinbase's head of institutional research, the key performance drivers for the crypto markets became "more entangled" in February, as the escalation of geopolitical tensions created more uncertainty about the possible normalization path to be taken by the US Federal Reserve. De-risking in the months leading up to the incident, as well as the quick escalation of the Ukraine crisis, resulted in enormous liquidations, forcing crypto markets to find a bottom sooner than predicted. According to the report, this, together with the assumption that the beginnings of such large-scale conflicts tend to be purchasing opportunities, and the conviction that the war would be relatively short-lived, have all contributed to the resilience. Crypto markets have received a brief respite, but this was likely due to technical factors, with the report adding that "positioning has assisted crypto markets in retracing, but we believe they remain in an unstable equilibrium." The medium-term forecast for the exchange is that the larger market will need more time to settle before it can begin to perform, which might come around the end of the second quarter. Prior to the invasion, a faster recovery was anticipated, but investors will likely want more certainty about the date of peak inflation and the Fed's rate rise cycle before they are prepared to deploy additional capital.
How is Dagcoin Leading the Charge on Sustainability?
In order to reach the heights it has today, the crypto sector has experienced a series of significant changes over time. In the beginning, crypto mining was carried out with modest computers and little-to-no complicated or high-powered tech. Bitcoin was generated (mined) using only general-purpose central processing units, or CPUs. The appeal of easy money drove an inflow of new participants, resulting in the quick development of the Bitcoin network – so much so that these first-generation miners were unable to keep pace with demand, leaving them outdated in less than a year. Once outpaced, more powerful graphics processing units, or GPUs, were used to carry out mining endeavours. Chances are that you’ve seen images of gigantic, slightly dystopian, warehouses loaded from floor to ceiling with thousands of these devices, all linked together — a crypto mine. As you can imagine, the amount of energy and resources required to carry out these operations increases year on year. In fact, the amount of energy used to mine and trade Bitcoin alone now averages at over 200 TWh per year — a figure comparable to the energy usage of the entirety of the nation of Thailand. Is this just down to increased usage, interest, and desire to mine? Not quite. Why Most Cryptos are Unsustainable In order to understand why most cryptocurrencies require more energy to trade and mine, we need to understand how they work. By now, you’ll have almost certainly heard the term ‘blockchain’ — and herein lies part of the problem. One of the hailing graces of cryptocurrencies is their perceived security. The world’s two biggest cryptos, Bitcoin and Ethereum, utilise a ‘Proof of Work’ or ‘Pow’ system, which essentially requires users to solve difficult digital equations in order to mine coins and add a new block to the blockchain in the process. While this was designed in order to prevent the security of these currencies from becoming compromised by unscrupulous individuals, an unfortunate side-effect is the massive amount of computing power required to beat other users to the punch on solving these equations, thereby earning a mined coin. The biggest, best, and most powerful stand to ‘win’, and with the blockchain increasing in size and complexity with every transaction, the computing power required to be successful in these cases also increases exponentially. As you can imagine, this is an ever-growing problem and is far from sustainable. Dagcoin is Different — Here’s How Unlike blockchain-reliant cryptocurrencies, the architects behind Dagcoin have taken a different approach to confirming transactions on the ‘DAG-chain’. Dagcoin uses a proprietary system that is based on a small, static number of witnesses who confirm transactions. This means that no matter how many transactions are carried out over time, and how large the volume of information stored within the DAG-chain grows to be, executing energy-thirsty mining operations isn’t necessary, and never will be. To find out more about how Dagcoin is working towards building a cleaner world with decentralised finance at the forefront, head to the sustainability page.
Getting Started with Dagcoin for Business
There isn’t one business in the world that doesn’t want to grow its customer base and increase its revenue. Companies are always looking at different ways to attract new customers, focusing on strategies such as marketing campaigns, their online presence, special offers and even the age-old “word of mouth”. Accepting another currency is very rarely on the list of ways to attract new customers. However, cryptocurrencies are growing in popularity around the world and their users are increasingly looking for places to spend them. With Dagcoin boasting more users than the nation of Iceland in its entirety, it’s safe to say that the 670,000+ potential customers are ones you cannot afford to skip out on. You are here because you see the potential for your business in accepting Dagcoin as a payment method. If you don’t have a Dagcoin wallet or dags yet, go read our quick how-to guide here and come back. Now let’s get started… Sign up for Dagpay Signing up is simple and easy. All you have to do is visit the Dagpay website, fill in the online application and go through a quick verification process – just like you did with SwipeX – and you are done. Now you have access to the full suite of free Dagpay software that helps you to accept Dagcoin payments at your business location (shop, café, gym, etc.), online, and via invoice. As well as helping you to receive and send payments, the bundle also includes software that helps you to check payments, and monitor your finances. How to Accept Payments and Send Invoices There are three main pieces of software that we will go over in this section, some of which will be more appropriate for your business than others: 1. POS System If you run a shop, café, restaurant, gym or any other location in which customers visit you in person to buy from you, this software is perfect for you. All you need to do is download the Dagpay POS app from Google Play onto the smartphone or tablet you wish to use to accept payments and you are ready to go. When a client wishes to pay with Dagcoin all you have to do is: Enter the amount the client needs to pay The app will then create a unique QR Code The customer then scans this with their DagWallet or Webwallet on their phone You receive the payment This entire process takes less than 30 seconds. It is as quick and easy as accepting a card payment, but with some extra benefits. Firstly, Dagpay currently has no fees, unlike credit and debit cards, and secondly, customers are unable to make chargebacks preventing fraud. 2. Webshop Plugins If you run an online business the most important thing for you is that as many potential customers as possible leave your website having made a purchase. One of the major reasons people abandon their carts is that there is not a suitable payment method for them. If your online shop is on WooCommerce, Magento, OpenCart, Prestashop, or Easy Digital Downloads platform, all you have to do is download the free plugin and you are ready to start accepting dagcoins. It really couldn’t be easier! We are adding free plugins for other eCommerce platforms all the time, so don’t worry if yours was not named here because it may be available. If it is not, or your site was custom-built, a web developer can quickly and easily add this payment method to your site, because all the documentation and instructions they need are freely available on the Dagpay website. Saving you a lot of money and time on a custom-built solution. 3. Email Invoicing Whether you are a freelancer or multinational you will need to be able to send and pay invoices. The intuitive email invoicing app helps you to create invoices with a unique QR in seconds. Not only can you create invoices more quickly, but also receive payments quicker too. This is because all your client needs to do is simply scan the QR code with their smartphone and the money will be in your wallet within 10 seconds. No longer will you have to wait hours, days or even weeks for a payment! Join Merchant Finder If someone said to you there is a place where you can advertise your business to almost 700,000 people for free. You would be there and signing up in an instant. This is not a fantasy, it exists — and it’s called Merchant Finder. Just like signing up for Daypay, signing up for Merchant Finder is also free and simple. However, unlike the other steps, it is important to spend more time here to make your business profile as appealing as possible to potential customers. The businesses with the most appealing pictures and best descriptions will gain the most traction and with it new clients. If you are a local business such as a café, it is important to make your location your key selling point. This is because Dagcoin users can search the site by location and most like to support businesses in their area that accept the currency. If you sell your services, for example, if you are a graphic designer, then it is much more important to focus on what you offer. In this case, your company description and pictures are key to your success. Conclusion Accepting Dagcoin as a payment option couldn’t be simpler. All you need to do is sign up to Dagpay to gain access to a suite of free software that includes the 3 following applications: A POS System that makes it possible for you to accept Dagcoin payments in your shop, café, bar or gym. To accept payment all you need to do is enter the amount the customer needs to pay into the app, a QR code is created, the customer scans this with their DagWallet on their phone and the payment is complete. Simple! Web Plugins make it possible to accept Dagcoin payments in your online store. If you use Woocommerce, Magento or one of the other major eCommerce platforms, simply download the corresponding free plugin and you are ready to start accepting Dagcoin payments. Email Invoicing, create and send invoices to your clients in seconds with the invoicing app. Each invoice includes a unique QR code. All your client needs to do is scan this with their DagWallet and you will receive the money in less than 10 seconds. Lastly, by signing up for Merchant Finder and creating your free profile. Your business is now visible to a growing community of over 670,000 potential customers. Join over 1,500 businesses who are already accepting Dagcoin, and start growing your business, today.
Chinese Crypto Crackdown Begins Focus on Private Miners
After doing its best to effectively eliminate its industrial crypto mining sector, China is now targeting smaller players: internet cafés, PC gaming room operators, and even those mining on rigs and cards from their bedrooms. Like many nations throughout Asia, China has a thriving PC gaming culture. The bulk of these players can be found in PC gaming rooms, which essentially function as pay-per-hour gaming lobbies. These are typically outfitted with high-spec computers equipped with powerful GPUs and fast processors. According to a report: “authorities in the city of Lau’an stated that they would step up “enforcement” of crypto-related decrees and engage in the “supervision of PC rooms,” as well as “promptly stop virtual currency mining activities in Internet cafes and further promote energy conservation and emission reduction.” The government has given provinces and cities the authority to enforce the policy, and police officers have appeared on WeChat groups of PC room owners to warn them of the dangers of non-compliance. According to the media report, broadband access was "monitored" in the case of individuals suspected of mining tokens from home by internet providers. Internet service providers have been told they can (or should) "directly disconnect" crypto miners from networks. Web hosting companies have also been instructed to block mining pool domain names. Regardless, some appear willing to defy Beijing, with the media outlet noting that "some PC room businesses" are still involved in mining, and "some businesses" are still "engaged in the business of" trading mining hardware.
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.