Neilcoin ($NEIL), it’s a thing! You can buy it, sell it and trade with it. It’s virtually worthless, 1 $NEIL is roughly $0.0007 USD currently, meaning you get about 1,500 $NEIL to the dollar. But it’s a real cryptocurrency, nevertheless!
How? Why? Well… it all started when I took an interest in crypto-mining, (my new hobby). I built myself a small mining rig, with one 3000 series GPU, and started mining Bitcoin at a rate of about $2 USD per day.
It was never going to get me rich, but I had great fun learning all about the blockchain and cryptocurrencies. Like most people, I had heard about Bitcoin, but had no idea all the other imitation coins out there.
- mining coins such as Ether, Litecoin and Monero
- stablecoins that are pegged to the USD, such as Tether and the USD Coin
- meme coins that started as a joke, such as Dogecoin, Shiba Inu and even DogElon Mars
- game coins such as MANA, GALA, Axie and Enjin coin, and many, many more.
So when I discovered that I could create my own cryptocurrency, quickly and cheaply, my only thought was – why not?
Most cryptocurrencies run on Smart Contracts, which are “automated agreements” between two or more parties. For example, I agree to pay you this much, the sum is automatically transferred from my balance to yours by the Smart Contract. In a way, Smart Contracts are like digital vending machines, because they allow transactions to occur without the need for a human to mediate. These Smart Contracts are stored in the blockchain.
The biggest blockchain for public smart contracts is Ethereum, but it has become so congested that fees are high and transactions slow. A typical transaction can cost over $50 USD, (sometimes as much as $100 USD), and take several minutes to complete. This is why I selected the newer Binance Smart Chain (BSC) for my $NEIL currency, where transactions typically cost under $0.40 USD and take only three seconds.
I wrote my smart contract in Solidity programming language and deployed it on the Binance Smart Chain, where it will remain forever in the Blockchain, and can never be changed or removed. That means Neil Coin ($NEIL) cryptocurrency is here to stay!
And why are they worth so little? Well, basically $NEIL coins are worth what little liquidity I put in to make them tradable. If I was prepared to sink about a million dollars of my own cash into $NEIL coins, then they would be worth about $1 each. But I didn’t, and so they are worth $0.0007 each.
To find out more about Neil Coin ($NEIL), and how to buy them, read my Initial Coin Offering whitepaper here!
But please note, this is just for fun! I am not a financial advisor, and this is not financial advise. The $NEIL token offers no real expectation of gains. Consult a professional financial advisor before investing in cryptocurrencies, and don’t take anything you read online as financial advice, ever!
