Featured

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.

#Dagblog
04 May, 2022
Latest
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.

#Cryptonews
20 April, 2022
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. 

#Dagblog
06 April, 2022
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.

#Cryptonews
23 March, 2022
Most popular
Your Burning Dagcoin Questions Answered

The truth is, a lot of what we do here in Dagcoin may be slightly unclear to some of you. Therefore, we’ve put together some of the most frequently asked questions about Dagcoin in one article in order to provide some clarity.

28 July, 2021
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.

07 April, 2021
Dag Tech Day II: the things you need to know about DeFi

The second Dag Tech Day was a DeFi special, taking a closer look at the pros and cons of one of the fastest-growing sectors in the crypto industry: decentralised finance. Often referred to as the future of finance, DeFi is seen as a shift from traditional centralised financial systems to peer-to-peer finance enabled by decentralised technologies built on decentralised solutions. 

21 April, 2021
  • Categories:
  • #dagblog
  • #cryptonews
  • #all
#all
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.

#Dagblog
04 May, 2022
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.

#Cryptonews
20 April, 2022
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. 

#Dagblog
06 April, 2022
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.

#Cryptonews
23 March, 2022
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.

#Dagblog
09 March, 2022
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.

#Dagblog
09 February, 2022
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.

#Cryptonews
02 February, 2022
Cryptocurrency Types Made Easy

After effortlessly moving beyond the musings of finance experts and investors, and breaching popular culture, it’s become clear — Cryptocurrency is here to stay. In case you feel a little left behind, here’s a crash course on Crypto’s turbulent journey, impact, and the different types you’re likely to hear about. Where did it all begin? Although Crypto as a whole is still in its late adolescence, it was as far back as 1998 when ‘b-money’ emerged — an electronic finance system that offered full anonymity, and laid the groundwork for what we all know as cryptocurrency today. Following the global financial crises of the 00s, trust in banks and the stock market was at a record low. The public required an alternative financial system, and in 2009 Bitcoin answered the call. While initially considered to be just for tech nerds and shady black market transactions, Bitcoin and many others have since broken through into the mainstream as a viable alternative to common currencies.  So what’s the blockchain? Freeing itself of restrictive rules and fees levied by traditional banks, Bitcoin owes much of its success to the technology it utilises – the blockchain. Blockchain removes the figurative middleman and puts the control of all transactions in the hands of its users. Beyond this, all transactions are fully encrypted, ensuring complete privacy and security, and locking out any methods of gaming the system. It’s not just Bitcoin, though. There’s a good chance you’ve heard of Ethereum, Ripple, Litecoin, Monero et al. With over 5,000 cryptocurrencies part of an ever-growing list, the majority use the blockchain. DAG-chain cryptocurrencies Despite efforts to improve on it, few effective moves have been made to introduce an improved version of blockchain technology. Fortunately, there’s DAG-chain — the technology utilised by Dagcoin. While the blockchain system is vast, its initial speed and low cost have been stifled by the ever-increasing number of logged transactions. DAG-chain, however, does the opposite – as the amount of users increases so does the speed and cost of transactions.  The system is evolving, as should you. 

#Dagblog
12 January, 2022
Bitcoin and Ethereum Tumble After an All-Time High Valuation

Bitcoin dropped 5% last month after reaching an all-time high of around $68,950 in early November. Bitcoin's all-time high was reached shortly after the October Consumer Price Index (CPI) report revealed higher-than-expected inflation in the United States. According to the report, the CPI rose 6.2 percent in October compared to the previous year, resulting in the fastest rate in three decades. According to IntoTheBlock's Juan Pellicer, the shakeout appeared to coincide with a decline in US stock markets as analysts parsed the CPI report. According to Pellicer, “The S&P 500 and Nasdaq reacted badly to the announcement (...) this then influenced the crypto market.” Lennard Neo of Stack Funds wrote in a report that the delayed market reaction in stocks and bitcoin could have resulted from an end-of-day assessment that faster inflation would prompt the Federal Reserve to tighten monetary policy sooner. Ether also took an unexpected tumble after a record high of $4,851, seeing a 2% drop the same day as its peak. However, despite all this doom and gloom, Daniel Kukan, senior crypto trader at Crypto Finance AG, stated that ETH was set to soon outperform BTC in terms of growth.

#Cryptonews
29 December, 2021
#cryptonews
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.

#Cryptonews
20 April, 2022
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.

#Cryptonews
23 March, 2022
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.

#Cryptonews
02 February, 2022
Bitcoin and Ethereum Tumble After an All-Time High Valuation

Bitcoin dropped 5% last month after reaching an all-time high of around $68,950 in early November. Bitcoin's all-time high was reached shortly after the October Consumer Price Index (CPI) report revealed higher-than-expected inflation in the United States. According to the report, the CPI rose 6.2 percent in October compared to the previous year, resulting in the fastest rate in three decades. According to IntoTheBlock's Juan Pellicer, the shakeout appeared to coincide with a decline in US stock markets as analysts parsed the CPI report. According to Pellicer, “The S&P 500 and Nasdaq reacted badly to the announcement (...) this then influenced the crypto market.” Lennard Neo of Stack Funds wrote in a report that the delayed market reaction in stocks and bitcoin could have resulted from an end-of-day assessment that faster inflation would prompt the Federal Reserve to tighten monetary policy sooner. Ether also took an unexpected tumble after a record high of $4,851, seeing a 2% drop the same day as its peak. However, despite all this doom and gloom, Daniel Kukan, senior crypto trader at Crypto Finance AG, stated that ETH was set to soon outperform BTC in terms of growth.

#Cryptonews
29 December, 2021
Thai Crypto Investors to be Subject to 15% Capital Gains Tax

According to the Thai Finance Ministry, crypto traders within the nation are soon to be subject to a 15% capital gains tax on any and all returns. To avoid legal ramifications, the ministry has advised all to declare their cryptocurrency income when filing taxes from this year onwards. ​​ Many questions remain around how exactly profits are calculated, according to Akalarp Yimwilai, CEO of digital assets brokerage firm, Zipmex, including whether a gain from a price increase as the US dollar strengthens is considered a profit. “Tax methods and calculations should be more concise, clear and easy to understand. Many people I know want to pay taxes, but don't know how to calculate them(...)” In an article, Anon Thadium, a Thai Central Tax Court judge, stated that any traders who profit from the sale of cryptocurrencies are considered beneficiaries of crypto transactions. This gain is taxable under Thai law, and thus must be calculated for personal income tax purposes. According to sources, the Revenue Department intends to strengthen its overall surveillance of cryptocurrency trading this year, following significant growth in market size and value of the digital asset market in 2021.

#Cryptonews
01 December, 2021
Bank of Russia Directs Domestic Banks to Block Crypto-related Transactions

Last month, the Russian Central Bank issued a recommendation to all private domestic banks to block or restrict all customer transactions related to the purchase of cryptocurrencies. This directive also included a list of identifiers of “shadow economy” transactions for banks to utilise in order to more effectively stamp out crypto purchases, whilst still allowing customers to engage in ‘legitimate’ business transactions. In an official press release, the Bank of Russia stated: “The Bank of Russia assumes that transfers to illegal structures are associated with high risks of losing money and involving citizens in fraudulent schemes. The regulator recommends that credit institutions promptly identify suspicious cards and wallets and apply anti-legal measures against such instruments. Banks should also provide the necessary protection for P2P services so that they cannot be used to conduct suspicious transactions.”* *this quote is machine-translated This walling off of digital currency trading for citizens is a stark contrast to the widespread acceptance and embracement of cryptocurrencies throughout the world over the past year, with more and more countries developing legislation in order to bring DeFi in line with national financial regulations. This perceived resistance to cryptocurrencies aligns with previously enacted regulations by the Bank of Russia, including outright bans on the acceptance of crypto as payment. Despite this, private bodies, as well as citizens, have shown pushback, with Russia’s largest private bank, Sberbank, launching its own stablecoin, and crypto mining remaining rampant throughout the nation.

#Cryptonews
01 December, 2021
El Salvador’s President Claims Crypto Wallets Used by Half a Million Citizens

According to a statement given by El Salvador’s President Nayib Bukele, over 500,000 El Salvador citizens are now using cryptocurrency wallets for day to day use. In order to achieve this, the Salvadoran government developed a government-issued cryptocurrency wallet known as ‘Chivo’. This rollout wasn’t devoid of hiccups, however, as many experienced technical issues at launch — a problem the President now states is “95% corrected.” This wide scale adoption of crypto wallets follows the approval of Bitcoin as legal tender within the nation, alongside the previously accepted US dollar. This has meant that any vendor or business must, by law, accept Bitcoin at the point of sale unless sufficient technology to carry out these transactions is unavailable to sellers. This proposal was voted in with a majority of 62 out of 84 parliamentarians in favour of the move. "It will bring financial inclusion, investment, tourism, innovation and economic development for our country," President Bukele tweeted before the official vote in early June this year. However, this move has had its share of critics, with many outlining the extreme volatility of Bitcoin being a prime issue when moving to utilise it as a state-approved tender. President Bukele maintains that this change will open up financial services to the staggering 70% of Salvadorans who lack access to traditional banking systems. With a population of just 6.5 million, the adoption rate over a single quarter indicates that this may indeed be a step in the right direction for those from lower economic backgrounds.

#Cryptonews
11 November, 2021
Hackers Turn In $260m in Stolen Crypto Back to Platform

The hackers behind one of the largest crypto-heists ever carried out have returned over one-third of the stolen assets to the original platform, in an unprecedented move. On Twitter, Poly Network, the peer-to-peer trading platform at the centre of the incident, announced that the criminals had bizarrely returned $260m of the total amount procured back to the company, but that a whopping $353m in digital coins still has yet to see its way back into rightful hands. Poly Network, which allows the trading of various different blockchain-based digital currencies had threatened the hacking group with strict legal action if the sum in its totality was not sent back, however, many viewed this as an exercise in futility due to the black hat collective’s relative anonymity, as well as the difficulty, if not impossibility, of tracing blockchain-based currency transfers to specific individuals. According to some sources, the vulnerability that the hackers took advantage of may have been based around Poly Network’s digital contracts. Elliptic co-founder, Tom Robinson, chimed in on why the criminals may have decided to return these assets, claiming it was likely due to the extreme difficulty of converting the assets to fiat while maintaining anonymity. "Even if you can steal crypto assets, laundering them and cashing out is extremely difficult, due to the transparency of the blockchain and the broad use of blockchain analytics by financial institutions(...)"

#Cryptonews
06 October, 2021
Coinbase Generates $1.9B in Transaction Revenue

The largest crypto trading platform in the United States, Coinbase, has raked in almost 2 billion USD in Q2, shattering estimates. Previously, the platform was expected to turnover 1.57 billion in transaction revenue, however, following growth to 8.8 million monthly transacting users (MTUs), the exchange’s earnings shot up dramatically. This upward momentum was also due in part to the fact that over 9,000 financial institutions are now utilising Coinbase for the purposes of creating their own crypto products. The exchange also named several of its new partners in the most recent report, including (but not limited to) PNC Bank, WisdomTree Investments, SpaceX, Elon Musk, and Tesla. However, it wasn’t all good news, with July’s MTUs seeing a small drop-off, and the platform warning that Q3 is projected to show further contraction. The report went on to state: “However, the crypto industry continues to evolve rapidly and we anticipate volatility in our industry will persist in the near term resulting in unpredictable quarterly financial results. We are no stranger to a fast pace of innovation and volatility, and we remain focused on long-term execution throughout crypto price cycles.” As to be expected, in the wake of this, Coinbase shares immediately followed suit, and also shot up in the hours following the report’s release, now sitting at around 7% above their reference price of $250, but still 30% down from their opening trade price. Considering the massive volatility that some larger cryptocurrencies have seen in the past few months, and the fear instilled in many newbie traders as result, what Q3 truly holds in store for the platform is anyone’s guess

#Cryptonews
15 September, 2021
#dagblog
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.

#Dagblog
04 May, 2022
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. 

#Dagblog
06 April, 2022
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.

#Dagblog
09 March, 2022
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.

#Dagblog
09 February, 2022
Cryptocurrency Types Made Easy

After effortlessly moving beyond the musings of finance experts and investors, and breaching popular culture, it’s become clear — Cryptocurrency is here to stay. In case you feel a little left behind, here’s a crash course on Crypto’s turbulent journey, impact, and the different types you’re likely to hear about. Where did it all begin? Although Crypto as a whole is still in its late adolescence, it was as far back as 1998 when ‘b-money’ emerged — an electronic finance system that offered full anonymity, and laid the groundwork for what we all know as cryptocurrency today. Following the global financial crises of the 00s, trust in banks and the stock market was at a record low. The public required an alternative financial system, and in 2009 Bitcoin answered the call. While initially considered to be just for tech nerds and shady black market transactions, Bitcoin and many others have since broken through into the mainstream as a viable alternative to common currencies.  So what’s the blockchain? Freeing itself of restrictive rules and fees levied by traditional banks, Bitcoin owes much of its success to the technology it utilises – the blockchain. Blockchain removes the figurative middleman and puts the control of all transactions in the hands of its users. Beyond this, all transactions are fully encrypted, ensuring complete privacy and security, and locking out any methods of gaming the system. It’s not just Bitcoin, though. There’s a good chance you’ve heard of Ethereum, Ripple, Litecoin, Monero et al. With over 5,000 cryptocurrencies part of an ever-growing list, the majority use the blockchain. DAG-chain cryptocurrencies Despite efforts to improve on it, few effective moves have been made to introduce an improved version of blockchain technology. Fortunately, there’s DAG-chain — the technology utilised by Dagcoin. While the blockchain system is vast, its initial speed and low cost have been stifled by the ever-increasing number of logged transactions. DAG-chain, however, does the opposite – as the amount of users increases so does the speed and cost of transactions.  The system is evolving, as should you. 

#Dagblog
12 January, 2022
Put Some Extra Funds Away with Dagmarket Jobs

The pandemic has had an astronomical impact on the way we conduct our professional lives. Whether it be navigating how to subsist through remote work, or losing jobs entirely, the impact has been huge and demanded adaptation.  With people less able to socialise or move around, many businesses – especially in the hospitality and tourism sectors – have closed, and countless others have gone bankrupt. This led to untold millions of people around the world being made unemployed, with some still in that position. That’s why we created… Dagmarket Jobs In order to help people who have been made unemployed because of the virus, as well as those on reduced hours and salaries - we developed Dagmarket Jobs. Very simply, it connects those who need something done with people who are willing to do the work, with all jobs completed on the platform paid for with dagcoins. Dagmarket Jobs is perfect for individuals who are looking for someone to help them complete a small project or a simple task. Whatever task you need completing, the platform is a great way to connect with job seekers around the world and find the most suitable person for the task.  Last year, more than 30 million people lost their livelihoods in the United States alone. This is a level of unemployment that has not been seen since the great depression in the 1930s. And, the US is not alone. Hundreds of countries around the world are also reporting record unemployment figures, despite unprecedented stimulus packages designed to keep people in the working world. For those of you that are looking for a job right now, or are looking for extra money to cover your reduced wages, it might seem like an impossible task.  Dagmarket Jobs is a great way for you to find work and earn more dags at this difficult time. This could be the time that you gain a new passion or skill, or obtain the work experience you need to take your career to the next level. Because you choose when and where you work, you have complete control.  Are you looking for a helping hand? Try Dagmarket Jobs!

#Dagblog
15 December, 2021
What Makes Dagcoin Transparent?

In the crypto sphere, there are many people who see cryptocurrency as a place where they can hide their assets, avoid taxes and stay anonymous. At the same time, many of us lack trust in our governments because they have spent millions or even billions on expensive or needless projects. Even worse than that are the all too common news stories of politicians embezzling public money or taking bribes. What we all want is a system where criminals cannot avoid detection and where all public money can be checked to ensure it is being spent on what was promised and none is being lost unjustly. And more than that - give billions without access to a bank account, the ability to create a credit history for themselves. Dagcoin is a cryptocurrency that offers just this transparency — the transparency that builds trust between both users and governments. Let’s find out how… Transparency for Governments It is fair to say that most of us do not trust our governments. Right?! And that lack of trust is absolutely understandable. Not only do they not fulfil their election promises, but they also squander millions or even billions on pointless projects or projects that never even see the light of day. But, even worse than that, it is believed that corrupt politicians steal over $1 trillion each year from the world’s poorest countries. But it isn’t just in the developing world where this occurs. It happens much closer to home too. Public funds are also not just stolen by the politicians directly, but by the owners, family and friends of companies who receive this money. One example of this was when a local government gave Northampton Town Football Club a £10 million loan to expand their stadium. And then, the vast majority of this money mysteriously vanished, and the improvement works promised for the stadium, although started, were never completed. It was believed that the owner of the club transferred this sum to various subsidiary companies owned by himself and family members in exchange for bogus services. Eventually, the owner of the club was ordered to pay the local government £2.1 million as a result of this theft. Despite that, many millions are still believed to have been lost for good, despite the efforts of the police and banks to track down this money. But just how could Dagcoin prevent this from happening? And ensure that money promised for individuals and projects goes where it is intended and is not lost unjustly or illegally? Full transparency of transactions is possible with Dagcoin using the Chain Explorer. This means that it is possible to see if your local government has spent the $10 million they promised on the local roads project or $10,000 on the books they promised for your children’s school. Of course, we don't need to see exactly what a certain government department is doing with their money, but having access to this information ensures that public funds and those companies that receive them have an extra incentive to use them for the decided projects and services. Because if they don’t or money goes missing, there is a traceable sequence of transactions that can be followed by aware individuals, a chosen independent authority or the police. Transparency for You Although there are many who see cryptocurrencies as a way to avoid taxes. The vast majority of us pay them diligently because we know that without them we would not have doctors when we are sick, school places for our children or police to keep our streets safe. Because of the Chain Explorer, we are all, as individuals - and businesses - able to keep a full history of transactions - just like with your bank statement. This may not seem like a big thing for those of you with a bank account. But for the 2.5 billion people worldwide without a bank account, this creates a world of possibilities. For these people opening a bank account is not possible usually because they earn too little to open an account ($1-2 a day or less). For the banks, these people cost them more than they can earn from their deposits. This means that these people are restricted to cash and have no means of creating a credit history to borrow. By using Dagcoin, to receive a salary, buy food, pay bills, etc., these people can create a credit history. This can be used to show not just their income and expenditure, but also what they can afford to pay back a bank or other lender. The minute you can borrow, you can invest, whether that is in new equipment or stock for your business, your or your children’s education, etc., the possibilities and opportunities are only limited by your imagination. In Conclusion... Imagine a world where you can use crypto not just to receive your wages, pay for bills and buy goods. But one where you can also build a credit history and borrow money? It sounds amazing, right? Now imagine that your government uses this currency too and it is possible to see their transaction history. The police can also find criminals much more easily, gone are the days of criminals thinking they can use crypto to hide money. We all want a future where our governments are more transparent and open with us because we feel they have this information about us already. Dagcoin doesn’t just provide solutions to the usability of crypto and transparency for governments and individuals. But, it gives the poorest people in the world without bank accounts the chance to build a credit history, and potentially borrow money to grow as individuals.

#Dagblog
17 November, 2021
Why Cryptocurrency Access Matters

Many of us use cash, debit cards, and credit cards for everyday transactions. You may be wondering what could cryptocurrency really offer me that these options cannot? Maybe you or someone you know has been a victim of identity theft? Maybe you are fed up with how long bank transfers take to arrive or the high fees? Cryptocurrencies offer solutions to these and many other issues. But what about if you don’t have a bank account, debit card or credit card. This is much more common than you can imagine. In fact, over 2.5 billion people around the world do not have access to a bank account or simple banking services and are restricted to using only cash. For these people, cryptocurrencies provide their first step into banking and a world of possibilities that they have never had access to before, and it’s incredible! Let’s find out how using cryptocurrencies could improve your life… Benefits in the Developed World The biggest benefit for most people with cryptocurrencies compared to regular currencies is speed. It doesn’t matter where you are in the world, what the time of day it is, or the day of the week. A transfer will always take just seconds or minutes (depending on the currency and technology it is built on). For example, a Bitcoin transaction on average can take more than 10-20 minutes, while a Dagcoin transaction takes just 10-30 seconds. If you use a regular bank account to transfer money to another person who uses the same bank, in the same country, it will take minutes. But when you start to send this to someone using another bank or internationally, this timeframe becomes hours and days respectively. Not only do cryptocurrencies bring added speed, they also bring lower fees. Regular banks tend to charge you between 0.5% and 5% to transfer money to another account, along with a one-time transaction fee. With cryptocurrencies, these charges vary between 0.1% and 1% and with no added fees. These speed improvements and lower costs do not just make a big impact on us as individuals when sending money, but also on businesses. Imagine going from paying 5% in fees when buying your stock, to paying just 0.1%. This could be the difference between a profit and a loss, giving workers a raise, or even lowering the price of products for consumers. A little difference really goes a long way! Benefits in the Developing World For those living in the developing world access to regular banking is incredibly difficult. If people can get over the geographical barriers that may prevent them from getting to their nearest bank. They are often met with rejection. But why would a bank reject someone? Simply, the poorest 2.5 billion people on the planet are not seen as profitable customers. When their earnings are in the region of 1-2 dollars a day and their transfers are in the cents, banks are losing money from these people as the cost of providing services to them is more than the money they can earn from the accounts. Cryptocurrencies do not have any such restrictions. All you need is a smartphone and an internet connection - and you are good to go. Imagine finally having a safe and secure place to store your money. You no longer have to hide your savings in cash at home or worry about theft. Saving cash is also not a good idea as cash depreciates in value over time. Cryptocurrencies offer not just a safe place to store money, but a great investment to earn more. Only being able to use cash is also very limiting because it means you can only buy or sell products or services in your local area. Using cryptocurrencies changes everything. Suddenly you have access to anything, anywhere in the world. And it is not just what you can buy, it is what you can sell. Imagine being a maker of ceramic pots who only sell these for cash at the local market. Accepting cryptocurrencies gives people the chance to sell their products nationally and internationally online, expanding their business and improving their lives. The Dagcoin Solution Dagcoin has been made to be used and not traded like other cryptocurrencies. This is why it is not available on any trading platform. This focus on usability means that it is one of the fastest cryptocurrencies around, with transactions taking just 10 seconds. It is also one of the cheapest too. Blockchain currencies like Bitcoin ask users to confirm each-others transactions. For confirming these transactions users are rewarded with a small amount of the currency in return. This process is commonly known as mining. Dagcoin is based on Dagchain technology which does not require mining and is therefore much cheaper. Not only has Dagcoin been made to be both faster and cheaper, it has also been made to be used. As well as creating the coin, the developers of the currency have also created a free suite of software that makes it easy for businesses to start accepting Dagcoin payments, whether that is online, in a shop or via invoice. And it doesn’t stop there. All businesses who accept Dagcoin have the chance to be on the Dagcoin merchant portal, where all users (currently over 600,000 people) of the currency have a chance to find them and buy their products. The last and probably best possibility for those in the developing world is a transaction history. This is just like a bank statement. Having a record of incomings and outgoings finally gives people a chance to apply for credit, something impossible when all you use is cash. In conclusion... Cryptocurrencies offer people all around the world access to a faster, cheaper and simpler form of money. Current banking services are slow and expensive. In today’s world, no individual or business wants to wait up to 5 business days to receive an international transfer or pay 5% or more in fees. Cryptocurrencies cut this waiting time to seconds or minutes at most and, on top of that, for just a fraction of the cost – less than 1%. The cost of current banking services makes it impossible for the poorest 2.5 billion people in the world to open a bank account, as they are not seen as profitable. Cryptocurrencies do not have the same aim to make a profit. For this reason, anyone with a smartphone and internet access can use them. Cryptocurrencies provide these people with a safe place to store their money and the opportunity to buy and sell goods internationally. Something that is just not possible when all you have is cash.

#Dagblog
20 October, 2021
How Dagmarket Escrow Deal Makes Transactions More Secure

Whether you’re a buyer or seller, it’s natural to be concerned with your money being safely transferred when it comes to online transactions. This is why we’ve introduced a brand new system to the Dagmarket platform — Escrow Deals. If you haven’t hopped onto Dagmarket yet, think of it as your traditional online marketplace, but for any item you can imagine. That means physical electronics, clothing, software, artwork, or even a vehicle! However, as you may have figured out by now, Dagmarket differs from any other marketplace due to every transaction being carried out with dagcoins. If you’ve been sitting on your dagcoins for a while, and are itching to spend them, it’s the ideal place to splurge! What on earth is ‘escrow’? Just in case you haven’t used an escrow system before, it essentially functions as an intermediary safe-box for your currency. Once a product has successfully been delivered to the satisfaction of both parties involved, the payment is released from escrow to the seller. Pretty simple! But how does this work on Dagmarket? If an Escrow Deal is initiated, upon payment, the dagcoins are securely held for a period that both parties agree on. After this is confirmed, the process continues completely as normal with the seller delivering the product. If the buyer is happy with the product and has received it as advertised, they’re given the ability to release the dagcoins from escrow to the seller. If the escrow window passes with no confirmation from the buyer, the purchase will be assumed to be successful, and the coins will be released to the seller. If however, the buyer identifies an issue with the purchase before the escrow window is closed, they may open a dispute at which point the Dagmarket team comes to the rescue to resolve the issue. We’re sure that our new Escrow Deal is going to give you peace of mind when using Dagmarket — it couldn’t be easier, or safer. Happy shopping!

#Dagblog
22 September, 2021