GoCoin Publishes Top 5 Altcoin Selection Criteria
Today at ICE Totally Gaming GoCoin unveiled its top 5 criteria for selecting new altcoins to feature on its payment platform. GoCoin is the first international payment solution for processing Bitcoin, Litecoin and Dogecoin at checkout, and plans to scale up its list of supported cryptocurrencies in 2015.
"Until now, GoCoin has been proprietary with our internal criteria for adding coins," said Steve Beauregard, co-founder and CEO of GoCoin.
"We just crossed our first year of operations, and are ready to give the altcoin community some helpful insight about the factors that guide our decision-making."
GoCoin will be announcing its next round of supported coins later this quarter. In order to remain fair and objective with its selection process, GoCoin and its management team does not hold any meaningful balances in any altcoin, nor has taken any investment to date in an altcoin.
The selection guidelines are as follows:
1. Market Cap - top 10 on CoinMarketCap
2. Liquidity - trading on two or more reputable exchanges
3. Duration - has been around long enough to establish its value relative to other coins
4. Active community & developer support
5. Sufficient network stability and hashrate distribution to prevent a 51% attack
GoGoin's Steve Beauregard is speaking on a panel about the future of payments on Tuesday, February 3 at 4:00pm GMT. The session is moderated by GoCoin's Eric Benz. Follow @GoCoin and #ICEGaming for real-time updates.
GoCoin recently achieved 5,500 new merchant sign-ups and is now offering liability accounts in Singapore Dollars, GBP, and Euros with pricing available in 165 currencies. The company greatly exceeded its annual growth projections, initiating over 125,000 transactions and was responsible for 37 percent of all new merchants accepting digital currency in the fourth quarter of 2014.
GoCoin is the first international payment platform for bitcoin and emerging digital currencies, making it easier than ever for online and retail merchants to accept Bitcoin, Litecoin, and Dogecoin at checkout. GoCoin insulates merchant operators from the complexities and volatility of alt-currencies by settling transactions in the currency of their choice. Founded in July 2013, GoCoin is an international group of companies with offices in Singapore, London, Douglas, Boston and Santa Monica.
For more information about GoCoin, please visit http://www.gocoin.com/
Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.