Expanse Crypto Currency (EXP): Overview and Prospects
Rate this post

The developer of each new startup that tries to copy the idea and implementation of BTC and ETH projects believes that his/her brainchild will be the best and will be able to claim at least a TOP-10 leadership in the ranking in terms of capitalization level. But so far Ethereum is ahead of all competitors and isn’t ready to give up its position as the leader of decentralized networks. We cannot say that other developers’ attempts to improve the network are so vain. EOS, Lisk, NEO – this list of those who want to take the place of ETH can go on and on.

Another interesting project, which could be promising, but so far is a middling one – the Expanse cryptocurrency. It appeared on April 14, 2015, thanks to the efforts of Christopher Franco, Dan Conway, and James Clayton.

EXP earning opportunities

EXP doesn’t stand out in particular demand from traders – only a small amount of currency is sold per day. At the same time, these virtual coins can only be exchanged for BTC, but the exchangers won’t allow you to get other currencies if the situation requires it. You can start mining EXP and trading it on the exchange, considering all warnings and recommendations. This currency can become a supplement to a trader’s earnings and a reserve on Forex and other exchanges.

How to open an EXP wallet

You can start storing funds in EXP after installing the official wallet on your PC. A backup copy is also available – it must be installed on an external drive, which will come in handy when migrating data during reinstallation or a complete upgrade of your computer’s operating system. The advantage of the official wallet is the possibility of using it when trading on the exchange.

If you are buying coins for long-term storage rather than trading, we suggest you consider the online option https://expansewallet.net/. The advantage of the online service is accessibility from any device and anywhere with Internet access. The online solution is available directly from your browser – there is no need to install additional software.

The security on the side of the service itself is top-notch, but you should worry about protecting the device itself. Also, the wallet is great for connecting to the process of mining coins.

Expanse: can this cryptocurrency replace Ethereum?

The coin was first introduced to the cryptocurrency community in 2015. It has the same roots as Ethereum. The project is also a decentralized platform for transferring data, programs and smart contracts. Its distinctive feature is that the network is managed solely from within the community of miners. The developers call this point a distinctive advantage, although in fact we are talking about the outdated PoW (proof of work) consensus algorithm. Ethereum is one step ahead in this regard, having switched to the Proof of stake algorithm.

Expanse Coin advantages:

  • A limited number of coins in the system – 100 million. Additional issue isn’t planned
  • No speculative component in the price due to a small number of coins

However, this is where even such implicit benefits for investors end. The project can be profitable for miners. They don’t need powerful equipment to mine the coin. So when Ethereum moves to another algorithm that doesn’t involve mining, Expanse could be an alternative.

You can mine using the program “Ethminer”, which works exclusively with video cards based on NVidia chips. Don’t rush to start the process if you now have a low-power GT220. Currency mining still generates income according to an interview with the famous trader Bruce Burns. Before using mining, use a special calculator designed to calculate the potential profit. It calculates several parameters:

  •  pool commission;
  •  block price;
  • video card hashrate.

After active mining, it is not recommended to use the video card for its intended purpose – there is a high risk of visual artifacts. The optimal choice of pool is the one where payments are made automatically. If you see new projects engaged in mining, study the reviews to avoid falling for fraudulent schemes or complete refusal of payments by the owners themselves.

Expanse Coin disadvantages:

  • The project has existed for several years, but so far it hasn’t even been able to gain a foothold in the TOP-100. This suggests that the developers are in no hurry to develop the project, and investors are in no hurry to entrust money to it;
  • High volatility. At the time of sharp fluctuations in the quotations of the entire cryptocurrency market, coins from the TOP-20 sink less than other coins;
  • Reduction of mining performance. It decreases every year. And there will come a point when the profit from mining wont’ cover the costs of network participants or will be less profitable than mining of coins from the TOP-20.

You can buy cryptocurrency on three exchanges. This is another disadvantage of Expanse. The turnover of more than 60% on one exchange speaks not about the real interest of investors, but about speculation on the part of some group of people. And although the developers call the startup uninteresting for speculation, alas, it’s not like that. Exchangers are also in no hurry to add the coin to the number of offered assets. Therefore, the optimal earnings remain the purchase of Expanse through the exchange wallet with a long-term investment perspective.

Expanse cryptocurrency turned out to be another fork of Ethereum. All attempts to introduce something new to decentralized networks weren’t very successful. Investors didn’t see something new in the startup that could eclipse ETH. It would be more correct to combine in a new project all strengths of already existing forks, instead of trying to chase the leader alone. So far, the coin remains interesting only to a narrow circle of investors, who sometimes arrange a pump and dump.

Leave a Reply

Your email address will not be published. Required fields are marked *