Arabian Cryptocurrency Dubaicoin: A Detailed Review of an Arabic Token

dubai cryptocurrency

Most people associate the United Arab Emirates, in particular Dubai, with advanced technologies that are being implemented earlier than anywhere else. This is not spontaneous, because the country’s economy is thriving, and it can be seen with the naked eye. As for the cryptocurrency field, the UAE also does not fall behind and introduces its own solutions in this industry. In this article we’ll talk about such a cryptocurrency as DubaiCoin, find out its purpose, analyze its characteristics, advantages and disadvantages. So, let’s discuss everything step-by-step.

Contents:
(please, click the topic to scroll down to it)

  1. What is Dubaicoin?
  2. The main characteristics of Dubaicoin
  3. Advantages and disadvantages of Dubaicoin
  4. How profitable is Dubaicoin mining?
  5. Conclusion

1. What is Dubaicoin?

Dubaicoin is part of the large-scale technology base of ArabianChain, the goal of which is to create a single Arab platform, where it will be possible to create and run decentralized applications. This coin was launched two years ago. As it is clear from the title, it is meant exclusively for the Arab world. The main purpose of Dubaicoin is the popularization of cryptocurrency for residents of the region.

The coin was created in 2016, but there was no cryptocurrency boom in the Arab world at that time. The thing is that Muslims take religion very seriously and do not start using something new without its approval. This permission was received only in the first quarter of 2018. It was then officially announced that the cryptocurrencies in general meet the “Sharia law”, and any Muslim believer can use them without hindrance.

This event occured during the correction of the market, so there were no big infusions of the Arab world to the industry. But as soon as the market makes its turn, Muslims will be active investors, since now they are not hindered by anything.

2. The main characteristics of Dubaicoin

So, let’s look at the main features of this Arabian cryptocurrency:

  • token – DBIX;
  • price – $3.26;
  • rating in Coinmarketcap – 502;
  • reward for a block – 6 DBIX.

Previously, the coin had another sticker (DBIC), but after a while it stopped being supported. It can still be exchanged for DBIX, but the rate of the old sticker falls every day. At the moment, it is not included in the global rating of the Coinmarketcap. Its further development is not planned. The more effective Dubaicoin DBIX replaced it completely.

3. Advantages and disadvantages of Dubaicoin

Like any other coin, this cryptocurrency has its own strengths and weaknesses.

Disadvantages:

  • the emission of coins is pretty small (about 2.2 million pieces);
  • it is focused exclusively on one region, which historically did not lead to the success of any cryptocurrency (although the UAE region is unique, let’s see what happens).

The main advantage is the block generation time, which is only 1 minute. This allows for faster transactions (for example, Bitcoin’s transaction takes 10 minutes). Recently, the coin has been in good demand, which promises it a potentially good future.

4. How profitable is Dubaicoin mining?

By and large, the process of mining DBIX coins does not have its own specific features. Of course, you need a “native” software and a supported wallet. Most of the miners who work in this network choose the dbix.pool.sexy pool.

The Dubaicoin miners are video cards, since the complexity of the network is not yet very great. However, considering that the coin is not a platform solution, it is unlikely that its rate will skyrocket in the nearest future, so treating Dubaicoin as the main coin for mining is not entirely logical from the point of view of money and risk management.

5. Conclusion

Dubaicoin is a regional solution for the Arab market. It was created back in 2016 in order to locally popularize cryptocurrencies, but due to their religiousness, the Muslims did not hurry to use new currencies. In 2018 it was announced officially that cryptocurrency did not contradict the “Sharia law”.

Recently, the demand for this coin has increased, but you should not count on any drastic price changes. It is characterized by high transaction speed and good adaptation to the local market. It’s hard to say what will happen in the future, but we will follow all the developments closely.

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Akon: Nobody Knows What Cryptocurrency Is, But It Doesn’t Mean You Should Not Invest Into It

akon talks crypto

The famous American rapper Akon, the author of such hits as Smack That and Right Now, seems to be very interested in cryptocurrencies. First, he announced the launch of his own digital coin – Akoin – which is supposed to be the currency of a crypto city in Africa.

While the details of his ambitious plan have not yet been revealed, Akon keeps researching the possibilities of the crypto world. Recently he gave an interview where he discussed the financial situation in Africa and his vision on cryptocurrency.

When the interviewer said he did not quite what cryptocurrency was in the first place, Akon’s response was simple – “Nobody does.” The rapper actually finds digital assets very similar to regular company shares.

You know they’re going to yield an investment. You go there with your money because you know, these guys, in the next four, five or ten years, their projection said they are going to make triple what they are making now.” – he mentioned.

In the end, Akon said he would keep studying the subject and would do everything in his power to improve the difficult situation in Africa.

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Elon Musk Turned to the Creator of Dogecoin for Help in the Fight Against Twitter Scammers

musk needs help with crypto spammers

The CEO of Tesla Motors, entrepreneur and engineer Elon Musk published a message in his Twitter meant for the creator of the cryptocurrency Dogecoin Jackson Palmer with the request to invent a way to deal with crypto scammers on the social network.

A few minutes later, Musk received a response with an invitation to use a script that would resolve the issue with the scammers. Judging by the message of Dogecoin’s creator, Elon Musk used it.

https://twitter.com/ummjackson/status/1041577055970893824

We remind you that Elon Musk had to deal with Twitter fraudsters not once and not twice. Bots with offers to receive different cryptocurrencies for free were attacking Musk so much that he even started writing brilliant responses to them. Later, the social network management even began to block accounts containing the name of Elon Musk.

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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Bitcoin and Ethereum Price Analysis Today on the 18th of September: Cryptocurrencies Collapsed Again

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcоin (BTC) lost 3.07% in the past 24 hours. The price at the time of writing is $6286 per coin.


Source: https://coin360.io/

In the past 24 hours Bitcoin reached the highest mark for the day at $6452, later it fell drastically to $6338 and then fell to $6257 per coin. At the time of writing BTC added about $30.


Source: https://coinmarketcap.com/

In this time interval, we can observe a downtrend.

The remaining cryptocurrencies fell into the deep red zone:

Bitcoin Cash lost 7.23% over the past day and costs $414 per coin;

Ripple dropped by 2.50% and is worth $0.27;

EOS fell by 9.17%, and its price is $4.86;

Litecoin lost 7.79% and its value is $51;

Cardano fell by 7.69% and is worth $0.063;

Stellar decreased by 3.51% and costs $0.19;

IOTA lost 6.01%, and its value is $0.53;

Dash lost 6.58%, and its price is $182;

Monero became cheaper by 7.89% and is worth $107.

Ethereum reached the highest mark of $221 in the past 24 hours. A few hours later, ETH dropped to $195. At the time of writing, the price of the coin is $197.


Source: https://coinmarketcap.com/

The total market capitalization dropped to $192 billion. Bitcoin accounts for 56.3% of the total volume. In monetary terms, this is $108 billion.

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John McAfee Is Not Having It With Online Trolls

mcafee is fighting the trolls

Scammers, fraudsters, trolls – whatever you want to call them – have been pushing their luck with a lot of major crypto personalities and famous people.

We all remember how a fake account of Vitalik Buterin tried to cheat the poor followers out of their money and when Elon Musk could not get rid of annoying trolls asking him whether he wanted to purchase Ethereum or not.

This time the crypto enthusiast John McAfee decided to oppose the Internet “pests”. He published an angry message on his Twitter.

So, we genuinely recommend all the trolls to leave McAfee alone for their own sake.

We remind you:

John McAfee Predicted the Bitcoin Price for 2020

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Binance Is Launching a Regular Exchange in Singapore

binance opens a fiat exchange in Singapore

Binance, the biggest crypto exchange in terms of trading volume (based on the info from the CoinMarketCap) decided to expand into the fiat direction. Its CEO, Zhao Chengpeng, made an announcement where he claimed that the fiat branch of Binance will soon open in Singapore.

Firstly, the beta version will launch. It will happen on the 18th of September. This is a necessary step to try the idea out and fix all the flaws that might come up. The details of further development of the fiat currency exchange have not yet been revealed.

We remind you:

Review of Binance Coin Сryptoсurrency: Benefits for Holders and Prospects for Development

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