This article thoroughly introduces Notcoin by exploring its history, technological underpinnings, and market performance.
What is Notcoin?
In its early stages, the Notcoin project was an experiment in user engagement that let people mine tokens through interactions with a virtual coin in the Telegram app. The rapid adoption of this gamified strategy resulted in a thriving community and millions of users.
The Notcoin team noticed a chance to combine entertainment and financial technology. They aimed to make it easy for people who aren’t tech-savvy to start using cryptocurrencies without getting their feet wet with blockchain technology. Notcoin has established itself as an entry point to digital assets by emphasizing simplicity and accessibility.
Notcoin History and Development
In November 2023, Notcoin (NOT) was launched as a closed beta on Telegram for the first time. Originally promoted as a meme coin, the game’s only real goal was to become a viral hit. Over 650,000 users joined Notcoin in just a few weeks, even though it had a small starting point and an inexperienced development staff.
In the first week following the official launch on January 1, 2024, more than 5 million players joined, making it a noteworthy milestone. The TON Foundation’s financing gave the project more credibility and technical support, contributing to its quick expansion.
Technical Foundations
Telegram Open Network (TON) is the blockchain on which Notcoin runs. The TON blockchain is the best option for a project of Notcoin’s magnitude and scope due to its security features and fast transaction throughput.
Key Technical Features:
- Blockchain: TON (Telegram Open Network)
- Consensus Mechanism: The exact consensus mechanism utilized by TON enhances speed and security, but detailed specifics were not explicitly mentioned in the sources.
- Token Supply: Notcoin has a total supply of approximately 102.7 billion tokens, all currently in circulation.
Accessibility and user involvement are essential to Notcoin’s technical design. The fact that Notcoin is now integrated with Telegram—a network with more than 500 million active users—is proof of this.
How Does Notcoin Work?
Notcoin is a cryptocurrency that uses the TON blockchain and has a “tap to earn” feature where users can earn Notcoins by clicking on animated coins. Why, then, is Notcoin useful?
Anyone, including those unfamiliar with cryptocurrency, can pick up and play the game with ease. Some of the most critical aspects of Notcoin’s gameplay and operation are:
Click Mining
Players earn Notcoin cryptocurrency by repeatedly clicking on the animated coin in the Telegram chat. Initially, each click yields one Notcoin, but players can upgrade their earning potential through various in-game enhancements.
Energy and Boosters
Notcoin has an energy mechanism that restricts the number of clicks done in a session to stop misuse. Over time, players can restock their energy supplies and speed up the process by purchasing boosters with the Notcoins they mine. Additionally, boosters enable the automatic manufacture of Notcoins, even without player input.
Bonuses and Squads
Players can earn additional Notcoin bonuses by inviting friends to join the game or by participating in “squads,” which are public Telegram groups or channels that compete on leaderboards. This social aspect encourages collaboration and adds a competitive element to the game.
Future Tokenization
Currently, Notcoins are only available in-game and do not have any monetary worth outside of the game. Players can trade and spend Notcoins outside the game, giving them genuine economic value. On the other hand, there are plans to launch Notcoin as a tangible token on the TON blockchain.
Notcoin provides a user-friendly and exciting entry point into blockchain technology and digital currencies by incorporating these qualities.
Market Performance
Notcoin’s market performance has been notable since its inception. Despite its origins as a game-based token, it has achieved a substantial trading volume and market capitalization, reflecting strong community support and investor interest.
Recent Market Data:
- Current Price: Approximately $0.00548
- 24-hour Trading Volume: Around $159 million
- Circulating Supply: 102.7 billion tokens
- Market Cap: Approximately $563 million
Notcoin’s price has gone through the usual ups and downs in the cryptocurrency market. For example, it hit a high of $0.01445 not long after listing and a low of $0.005124 not long ago.
Users who had earned TON may start selling them for profit on May 16 when they have NOT started trading across several platforms. Because of the selloff, the price of Bitcoin, a cryptocurrency, fell by 55%.
Use cases and applications.
A fun and engaging approach to introduce people to Bitcoin, users earn Notcoins by touching their screens in the game. The game’s mechanics are designed to enhance the gaming experience with features like energy restrictions and boosters to increase revenue.
A diverse ecosystem of digital assets, including decentralized finance applications, is available to Notcoin users. One way Notcoin helps with decentralization is by using the TON blockchain. Lastly, the project has included an NFT collection to prevent bot farming and improve user interaction. In addition to their inherent value and practicality, these NFTs have extra perks and can be traded.
How to Buy Bitcoin: Methods and Wallets
As Notcoin (NOT) continues gaining popularity, more users want to acquire this unique cryptocurrency. Here’s a comprehensive guide on how to buy Bitcoin and the best wallets to store it:
Buy Notcoin Via Binance Exchange
Get started with KuCoin, BitFinex, or Bybit by signing up for an account and going through the Know Your Customer (KYC) verification steps if you don’t already have one.
Put cryptocurrency into your account using one supported option, such as Bitcoin (BTC), Ethereum (ETH), or a stablecoin like USDT. Go to the trading area and look for the NOT trading pairings. Currently, there are several accessible pairs for trading NOT, including NOT/BTC and NOT/USDT. Get what you want by placing a buy order at your chosen price.
Alternative exchanges to buy Bitcoin
Notcoin is also available for purchase on Bybit, KuCoin, and BitFinex. First, sign up for the service you want to use and finish the Know Your Customer (KYC) verification steps.
Put cryptocurrency into your account using one supported option, such as Bitcoin (BTC), Ethereum (ETH), or a stablecoin like USDT. Go to the trading area and look for the NOT trading pairings. Get what you want by placing a buy order at your chosen price.
Wallets to Store Bitcoin
Tonkeeper
Notcoin is best stored via the widely used Tonkeeper wallet, optimized for the TON blockchain. It has robust security features and an easy-to-use UI. It is compatible with other TON-based assets, has easy transactions, and has secure storage.
TON Wallet
Another trustworthy choice for saving Notcoin is the official TON Wallet. This wallet is compatible with tokens based on the TON blockchain and easily integrates. With TON Wallet, you can enjoy improved security, compatibility for many devices, and an intuitive interface.
Other Compatible Wallets
Wallets such as MetaMask and Ledger Nano S/X are also compatible.
MetaMask can support Notcoin and other TON-based tokens with the correct settings. A lot of people use this wallet because of all the features it has for keeping track of different cryptocurrencies. Hardware wallets, such as the Ledger Nano S or the Ledger Nano X, are great options for anyone who values security. Using the TON protocol, you can safely set these devices up to store tokens.
Regulatory compliance and security
Notcoin maintains open and lawful activities by conforming to worldwide regulatory requirements. This category includes rules on Know Your Customer (KYC) and Anti-Money Laundering (AML).
Secure user transactions and data are safeguarded by Notcoin’s use of the TON blockchain. Advanced cybersecurity measures have been implemented to lessen the impact of threats like phishing and hacking efforts. Notcoin emphasizes the significance of regulatory compliance through active community education. Among these measures is providing tools and information to keep users up-to-date on legislative mandates and how they may influence their dealings with Notcoin.
