NXT — What You Need To Know

NXT
$0.637474 USD (0.00004700 BTC)
Circulating Supply of 998,999,942 NXT

Looking at this, you can see that there is still room to grow reasonably, but there are other circumstances surrounding NXT

What Is NXT

NXT describes itself as an add-on to the “pioneering coins like BTC”. This is to say that NXT is the next generation. NXT provides users with a decentralized asset exchange and marketplace along with a voting system. This sounds similar to some other coins, so what makes it different?

The platform can be used to create something and show ownership through NXT. I believe this is the real factor that makes NXT attractive since you can create projects and ideas with the platform and transfer these ideas to others or sell them for NXT. There are endless possibilities, including linking Nxt with existing projects and applications. This allows for existing projects to join the Nxt network.

If you read my previous blog about Syscoin, you can see the similarities with NXT.

Both have a marketplace to sell and exchange, both allow for messaging between buyers and sellers and both allow you to create an alias to go by on the platform.

However, NXT does allows you to create a currency of your own on the platform.

After The Price Drop Of NXT, Is It Still Worth Investing?

That’s hard to tell. I usually dont like to talk about the price much, but this important for this particular coin.

Basically, what happened was that NXT didn’t really takeoff like developers wanted and this caused some issues. So to combat this, a fork was created. This fork is Ignis, and anybody holding NXT was given Ignis as well at a 1:.5 ratio. Which isn’t bad considering Ignis at like $14.

But this is why we saw a pump of NXT recently, and then a dump. People bought NXT to get in on the Ignis for free and then sold NXT. I personally did this. But what makes this whole thing more complicated is the Ardor Network. This is basically the Nxt platform upgraded.

It does basically the same things as Nxt but better. So this allows for Ignis to be connected to it and it also allows for NXT to still link up. So technically Nxt is functional and the coin is still worth something. Basically the attention that NXT had, got split between Ardor and Ignis. Both of those coins have grown rapidly since the announcement of the fork.

NXT’s Future

To me, the future of NXT is very uncertain. It may be a dead coin since it appears a lot of people switched over to Ignis and Ardor. But there is no telling what will happen to it. It could come back even stronger. Personally, i am holding my NXT because i think it will go back up slowly.

But again, this is not investment advice and you should always do your own research and come to your own conclusions. Sorry if this sounds complicated, because it is and for me its hard to explain. If you have more questions, ill be happy to answer you. I have a lot more information i didnt include so this post wouldn’t be so long. Feel free to ask anything.

@vieira