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What is Navcoin (NAV)?

What is NavCoin? NavCoin is a decentralized cryptocurrency blockchain that uses an open-source platform and peer consensus to operate without a central authority. NavCoin is designed to.

Posted February 6, 2019

Navcoin logo on a black background
Navcoin logo on a black background

What is NavCoin?

NavCoin is a decentralized cryptocurrency blockchain that uses an open-source platform and peer consensus to operate without a central authority. NavCoin is designed to be fast, low cost and energy-efficient, but also to be highly secure and easy to use – and Nav was founded and forged right here in New Zealand!

NavCoin is a community-run network that was started in 2014 by Kiwi crypto-artist Craig MacGregor. It initially used Proof of Work, but quickly made the shift to Proof of Stake. With no ICO or pre-mine, NavCoin has always been self-funded to ensure a fair distribution and that everyone has a chance to get involved.

USD dollar bills shooting through a blue code blockchain crypto wire tunnel

NavCoin is very fast

Even today, Bitcoin transactions take 10 – 15 minutes to settle. Bitcoin fees are also not that cheap. Conversely, NavCoin transactions settle in approximately 30-seconds. This makes NanCoin faster than not just Bitcoin, but also other top market cap cryptocurrencies like Dash. NavCoin fees also average just 0.0001 NAV. This makes transactions practically fee-free.

navcoin logo infront of key,glove,rocket,wallet

Proof-of-Stake & Earning NAV Coin

To address scalability concerns experienced by Bitcoin, NAV coin uses a proof-of-stake consensus algorithm. This means that coins aren’t mined in the traditional sense. More importantly, any NAV coin user can stake coins by setting their wallet to staking mode. When this is done, users can expect to earn a share of 5% of all mining rewards by supporting the NAV network.

NAV coin coins with purple background

Where Can You Buy NAV Coin?

As a homegrown New Zealand cryptocurrency, NAV coin can be bought from a local NZ exchange. Thankfully, at Easy Crypto, you can do just this! Click here to order NAV coin today and have coins deposited directly to your wallet within minutes!

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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.

Last updated August 29, 2022

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