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What is Namecoin?
Of the many cryptocurrencies available today, Namecoin is one of the biggest and fastest growing. There are only 21 million NameCoins available to be mined, and it is a cryptocurrency, and it is no surprise why. Interestingly, Namecoin wasn’t designed to be a currency. The original plan was for it to serve as a domain/name registration system. However, it now has the dual functions of a virtual currency as well as its core functions. This cryptocurrency (NMC) and the naming platform have proven over time, to be a top-level technology that improves censorship, decentralization, security, privacy, speed, and so much more. While it has its flaws and limitations as the others, like cybersquatters, its advantages cannot be overemphasized. For one, NameCoin domains can only be transferred by the domain owner, ensuring that the domain will remain in possession of the owner as long as all protocols are observed.
Namecoin and .bit domains
Also, Namecoin can store data right within its blockchain transaction database. Finally, one of its core advantages and features is its censorship-resistant top-level domain .bit, which is functionally similar to .com or .net domains. (It is, however, independent of ICANN, the main governing body for domain names.) To get started on enjoying the many benefits of Namecoin, you have to first get a trustworthy wallet, preferably a cold one, and then get yourself pegged to a Namecoin Exchange. Not sure what Namecoin exchanges are, read below.
What is Namecoin Exchanges?
The term exchange refers to a switch or swap of an item. In the cryptocurrency world, it is just that simple as well. On a proper exchange, you have the opportunity to exchange Namecoin to Bitcoin and so on. How this works is that different exchanges have their rates. Also, after getting your Namecoin wallet, you would need to get actual Namecoins to trade with. This is why you need Namecoin exchanges. To exchange, you have to find the exchanger with the best rates, choose the exchanger with the rate you need or think is best for you, and click it to go to the site and exchange the money.
If for some reason you have challenges with exchanging the virtual currency, you have to contact the exchanger administrator. The exchange can be done either manually or automatically depending on the site and the system that is on the ground. Note that before you carry out any exchange, you have to ensure that the site is trusted and you have seen good reviews about it. Note that you can either use fiat money to buy it or buy it by exchanging other cryptocurrencies. All things being equal, you might be able to store your Namecoins on the exchange platform directly. If you want to get or exchange Namecoins from trusted sources, here are our top Namecoin Exchanges for your perusal. Related reading, see: (5 Best Namecoin (NMC) Wallets (Reviewed))
Top 7 Namecoin Exchanges
The following are the top Namecoin Exchanges available for you:
24/7 international licensed Bitcoin exchanger is one of the top Namecoin Exchanges available. Its mission is to create both easy and affordable ways to buy/sell/exchange bitcoins and other cryptocurrencies for people globally. Its wonderful features include accepting credit and debit cards, bank wire, cash deposits, e-wallets, and so much more; Its support for a range of Altcoins including Litecoin, Peercoin, and of course Namecoin; and the fact that no registration is required for digital currencies exchange.
According to their official website, some of their other benefits include:
Risk-free service without holding clients’ funds, instant delivery; Low fees, regular promotions, and special offers, and local payment options in 110+ countries.
Official website: 247exchange
Bleutrade Cryptocurrency Exchange
Another truly wonderful Namecoin exchange is Bleutrade. Bleutrade is an alternative cryptocurrency exchange that offers to trade on multiple cryptocurrencies. It has one of the best customer interface available. Although Bleutrade does not support fiat currencies, it has its benefits. For one, it only charges a 0.25% taker and maker fee for all currencies. Terms and conditions for this, however, apply.
Official website: Bleutrdade
Poloniex Bitcoin/Digital Asset Exchange
Polonix is the United States-based digital asset exchange that offers maximum security and more advanced trading features than a good number of exchange sites. Polonix was established in 2014, and it duly offers many coins with which you can trade Namecoin, Bitcoin, and a range of other cryptocurrencies. With Polonix, security is top level. All funds kept into the exchange are used to facilitate trading through your account; the majority of customer deposits are stored offline in air-gapped cold storage to minimize risk and exposure, and it has a wallet to store all cryptocurrencies online.
Official website: Poloniex
Another one of the top Namecoin Exchanges available on the internet is Bter. Although they had serious security breach challenges when they began in 2015 they have gradually bounced back, handling the situation as required. For Namecoins, this site gives you the opportunity to exchange other kinds of cryptocurrencies asides Namecoins. You have the chance to buy NMC, sell NMC, have a general view of your funds, your orders, your trades, your trade history, and so much more. It is also a hybrid fiat to crypto and crypto to crypto exchanges.
Official website: Bter
Looking for a simple Namecoin exchange? Livecoin is one of the best around. Also a multi-cryptocurrency trading platform, it is very suitable for both beginners and experienced traders in that it has a convenient user interface. They offer services both for regular users and coin developers alike. While certain people have also raised a few security concerns, Livecoin gets better by the day.
Official website: Livecoin
Even though they might be a little too confident stating that their Exchange site is the “Safest, Fastest Asset Exchange on Earth,” they are undeniably one of the best. ShapeShift allows you to trade any leading blockchain asset for any other. They are secure and does not require any account opening before you transact.
Official website: ShapeShift
Last but not the least on this list is Tux Exchange. Tux is a Canadian cryptocurrency exchange that also offers to trade on multiple cryptocurrencies. Ranging from Bitcoin, Litecoin, DASH, Dogecoin, Peercoin, Emercoin, Namecoin, and a host of others. It also charges a 0.3% taker fee and does not support fiat currencies.
Official website: Tux
Our Other Cryptocurrency Exchanges
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- 10 Best Bitcoin Exchanges (Comparison/ Reviews)
- Coinbase Review 2018: 5 Features + 3 Controversial Things to Know
- CEX.IO – Scam or Not? Best Bitcoin Exchange
- Top 20 Bitcoin and Cryptocurrency Websites Worldwide