Populous cryptocurrency guide advises where to buy and how to buy Populous. This guide also contains the markets, value, trading, investing, buying, selling, transactions, blockchain, mining, technology, advantages, risks, history, legislation, regulation, security, payment, networks and many other interesting facts about Populous as well its status in the world of cryptocurrencies.

Populous, Tuesday, 2018-08-14

Populous (PPT)

What Is Populous?

While Bitcoin pioneered the blockchain technology in the globe, it has now emerged that almost everything can benefit immensely by applying the technology. Populous is one example that has taken blockchain technology to an entirely new area; invoice financing.

Populous is an online platform started in 2017 and offers peer2peer payment of invoices. The cryptocurrency is based on the Ethereum network and, is the first to offer invoice financing both in the Ethereum network and entire cryptocurrency industry.

By offering a peer2peer invoice finance platform, Populous is globalizing a service that has been greatly limited to a very small market niche. The platform utilizes smart contracts, XBRL data and fixed (pegged) tokens to provide an ideal trading environment for invoice sellers and buyers (investors).

As a decentralized trading platform, Populous brings traders who want to cash their invoices and buyers from all over the world. To address the numerous risks involved in invoice financing, the Populous development team opted out of the volatile cryptocurrencies such as Ripple and Bitcoin. Instead, it opted for a more stable custom token referred as Pokens.

Invoice financing is a major form of asset financing that helps to unlock cash that is tied to outstanding invoices immediately. Companies and business owners allow investors to buy the invoices at a discounted rate. Because the buyer/investor is ready to make direct payment, the business can take the cash to meet its financial obligations such as paying staff and other expenses.

What Populous does is creating a connecting point between buyers/investors and the sellers from all over the globe. The platform leverages security, speeds, and transparency of the blockchain via smart contracts, Altman Z-score formula, and XBRL data.

The Populous founder, Stephen Williams, pointed that though the number of businesses that anticipate selling their invoices is very high, the field operates with a lot of bottlenecks. He explained that Populous would cause huge disruption to the traditional invoice financing system.

Beginner's Guide to Populous

Are you planning to join the cryptocurrency industry? The best thing is looking for the networks with the greatest potential for growth and success. One such option is Populous. The cryptocurrency was designed by Stephen Williams in 2017 and targets the invoice financing niche.

It employs blockchain technology, the Altman-Z-score formula, and XBRL data that help to bring those with invoices that have trapped their cash and linking them with people intending to finance them at a discount. The model has greatly excited the cryptocurrency community, and the value of native coins has been growing rapidly.

While you can take this as a preliminary notion as a yes to join the network, it is advisable to delve deeper into every system of the Populous carefully. You need to have all the doubts cleared and questions answered before making that crucial move. This is what this guide intends to do.

The guide digs deep into the complex Populous model to answer questions such as how to buy, how to sell and what are the best markets? It also digs more to uncover more details about regulations, taxes, stability, transaction costs, creators, risks, advantages, security, and value of the native assets. Welcome to the guide to learn everything that you want to know about the network.

Where and How to Buy Populous?

Since Populous entered the market, its value has grown progressively. From about $2.8 to about $50 in January of 2018, the growth has been very impressive. Many people hearing about Populous for the first time as well those intending to shift from other networks want to know how to buy the native assets. The process of buying Populous can be categorized into several stages.

First, you need to have interest in the Populous cryptocurrency.

Acquire an appropriate wallet that can hold the Populous tokens. A good example of these tokens is the Ledger Nano S hardware wallet.

Look for an exchange that is trading Populous. The exchanges are platforms that bring together both buyers and sellers to facilitate trading. Some great examples include Binance and HitBTC.

Open an account with the selected exchange and verify with personal details such as proof of address and phone number.

On the purchase interface of the selected exchange, select the preferred quantities of Populous tokens and confirm. Note that depending on the exchange, you can be allowed to pay for the token using other cryptocurrencies, fiat or even credit cards.

Note: Once the transaction is completed, the Populous you bought goes to the cryptocurrency exchange account. Therefore, you need to move the tokens to your wallet for the process to be complete.

Populous Wallet

If you want to invest in populous, the first thing you need to do acquiring a cryptocurrency wallet. A wallet is a location where the native tokens in the Populous native tokens are stored. As a wallet, the accepted definition is a storage location for holding the Populous native coins. However, it is important to demystify this definition.

The native tokens in Populous do not leave the network. Therefore, how do the tokens get into the wallet? In reality, the wallet does not hold Populous. That is right. What the wallet holds are two types of codes; the private keys and public keys.

The private keys is a special code that points at the coins you hold in the Populous network. The private keys is a special identifier that is only known by you and the wallet. Note that the code should not be shared.

Unlike the private keys, the public keys can be shared in the Populous network. As a decentralized network, users spread across the globe act as nodes that help to confirm transactions and add them to the public ledger. If somebody wants to pay you in Populous, what you provide is the public keys. Note that depending on the wallet you select, it is possible to have several public keys.

The best populous wallets for users to consider

As an Ethereum based cryptocurrency, it means that the wallets you select should support ERC-20 tokens. ERC-20 is a list of rules all tokens that run on the Ethereum network have to follow. The ERC-20 allows wallet developers as well as exchanges to craft platforms that are easily compatible. The main Populous wallets in the market include.

Ledger Nano S is a hardware wallet that resembles a flash drive. When you use the hardware for the first time, it asks you to set the pin to prevent unauthorized access. That is the first level of security. Then, it generates a 24-word seed that will be used to create the private keys. This seed should be kept safe and protected with zeal because it will be required if the wallet ever gets lost or damaged. Once the seed is generated, the hardware wallet will generate the private keys and public keys that you should use on the Populous network. Its most outstanding thing is that it comes with physical buttons that gives you absolute control when making transactions. Before you can flag of a transaction, you have to press the physical buttons. This means that even if someone manages to break into the wallet when connected to a computer, it will be impossible to siphon the populous coins without physical access. The manufacturer of Ledger Nano S, The Ledger, indicates that you can use the wallet even on a compromised computer without worrying about getting attacked. These features and unique design of Ledger Nano S have made it win the tag of the most secure wallet in the market.

MetaMask (web-based wallet).

MetaMask is a special bridge that allows users to access their blockchain technology without having to install a full Populous node. It runs as an extension on Chrome, Firefox, Opera and Brave browsers. Once the extension is set, you will be able to access your network to send and receive Populous just like other wallets. To use the wallet, you need to visit the main MetaMask website and create an extension. The extension allows you to create a password, generate the recovery seed, and create the private keys. The wallet provides a secure identity vault that helps you to manage your identity on the Populous network.

Trezor wallet (hardware wallet).

Trezor is another hardware wallet that operates like Ledger Nano S in many respects. The wallet is a finger-sized hardware that allows users to store their Populous tokens offline. To send and receive Populous tokens, you have to connect the wallet to a computer and use an appropriate app such as MetaMask. The Trezor wallet has an LCD screen that allows you to follow the transactions before verifying them. When you first use the wallet, it generates the private seed phrase, the private keys, and the public keys that you should use to connect to the Populous network. It is advisable to save the private keys and the seed away from central computer to avoid total loss in the case of damage to the hard drive.

Where to Buy Populous with Credit Card?

Many people who hear the term cashless society often associate it with credit cards. They are very popular because they are accepted both in online and conventional stores. Now, it is possible to use a credit card to buy cryptocurrencies such as Populous. Here is the process to follow.

Start by acquiring the right Populous trading wallet.

Select a trading exchange that allows users to trade using credit cards. Because most trading platforms that accept credit cards are not trading in PPT, you will need to buy a different coin and them exchange for PPT. Good examples of exchanges that allow traders to buy crypto assets with credit cards are CEX.io and Changelly.

Open a trading account and select buy Bitcoin or Ethereum. On the payment section, tick pay with credit card.

Note that the coins purchased will go to the trading exchange account. Therefore, you need to move them to your wallet.

Where to Buy Populous with PayPal?

There is no direct way to buy Populous with PayPal. PayPal sees cryptocurrencies as serious threats and, therefore, discourages use of related payments. If you are discovered to have made such payment, there is a risk of the account getting terminated. If your cash is in PayPal, the best thing is offloading to the bank account or credit card. Then, process the PPT of choice from there.

How to Buy Populous with Wire Transfer?

Many people have a very special connection to their bank accounts. They trust the banks to handle their finances, salaries, and even financial advice. However, it is still possible to buy crypto coins such as PPT with a wire transfer. Here is the process.

Open the preferred Populous wallet.

Identify a cryptocurrency exchange that accepts payment in Wire Transfer. Unfortunately, the exchanges that accept payment in wire transfer only accept alternative cryptocurrencies such as Bitcoin and Ethereum. This means that that you will be required to buy Bitcoin or Ether and change them to PPT at an appropriate exchange. Good examples of exchanges that accept wire transfer include Coinbase and CEX.io.

Once you have selected the preferred exchange, go ahead and open a trading account. Navigate to the buy crypto assets section and tick pay with a wire transfer. Note that it will take some time before the transaction can be completed because the exchange has to make a claim to your bank. In most of the cases, the transaction takes 1-3 days.

Note that it will take some time before the transaction can be completed because the exchange has to make a claim to your bank. In most of the cases, the transaction takes 1-3 days. Once the transaction is completed, you will need to convert the selected coins into PPT and move them to your wallet.

Where to Sell and Trade Populous?

If you have been in the Populous network for some time, the chances are that your wallet has a number of coins. You can opt to exchange the coins for other tokens or even fiat currencies. This form of trading is made possible through special platforms that help to bring sellers and buyers together.

Since 2009 when the first cryptocurrency entered the market, cryptocurrency trading platforms have been growing very fast. At this point, it is important to appreciate that trading platforms are different from the Populous, Bitcoin, or other crypto networks.

While the crypto networks are decentralized and owned by nodes spread in the network, the exchanges are centralized. They have distinct ownership and operations have to follow local laws. The most notable of these rules is the need for verification.

Most countries require cryptocurrency exchanges to use the same rules followed by the forex trading platforms. This means that you have to open trading accounts and verify them with personal details. It is because of this that some trading platforms will require you to provide personal phone numbers and even photos for confirmation with local authorities.

Picking the best selling and trading platforms

One thing that you need to appreciate in the cryptocurrency world is that the cryptocurrency exchanges are the easiest targets for cybercriminals. It is because of this that cases of the crypto exchanges getting hacked are very common. One of the recent hacking cases in cryptocurrency exchanges was in South Korea. In December of 2017, Youbit crypto exchange was hacked, and millions in crypto coins siphoned away. The exchange was forced to file for bankruptcy. To be sure of picking the best trading platforms, here are the main tips to follow.

Look for a cryptocurrency with a good reputation. Take time to look at the feedback provided by previous traders to know if the platform provided them with the satisfaction they sought.

The right platform should have many trading assets. This implies that you will always have a trading pair that is profitable if the current option is not doing well.

The best platform should have high security for users and their assets in the network. You can only tell this by reading through expert reviews and checking the technical operations of the exchange.

Check for the exchange that accepts payment in multiple forms. For example, a great cryptocurrency exchange should allow users to make payment using fiat, other cryptos, and credit cards.

The best crypto exchange should have affordable trading rates. With affordable rates, it means that the trader can keep bulk of the profits as opposed to going into the trading fee.

Note: Today, it is also possible to buy and sell directly. Cryptocurrency trading clubs such as LocalBitcoins.com bring together buyers and sellers to trade. Note that even with direct trading; both buyer and seller MUST have a cryptocurrency wallet.

Top five Populous trading and selling platforms.

How Much Are the Transaction Fees of Populous?

The main focus of most cryptocurrencies is to offer lower transaction costs in comparison to centralized organizations such as banks. The Populous cryptocurrency only charges a very small fee when a user withdraws funds from the network. This fee is based on the client's score on the Z-score formula. If you are a high risky party according to the Z-score, the transaction charges will be equally higher.

Populous Markets

Though Populous is a relatively young cryptocurrency, it has attracted a lot of interest. The cryptocurrency markets are trading platforms that bring buyers and sellers of various cryptocurrencies together to facilitate trading. Note that Populous markets are driven purely by demand and supply of different cryptocurrencies. Here are the main Populous markets to consider.

While Binance is one of youngest trading platforms out there, its growth has been very impressive. It was launched in July of 2017 and has grown to surpass even older cryptos in the market. The market is based in China and has its native Token referred as a BNB. If you trade with BNB, the exchange provides a lot of discounts in transaction fee. Many people prefer trading at Binance because it accepts many trading currencies. This means that you will always have options to shift to when one trading pair is not working. Besides, the fee at the network is very low. By charging only 0.1% of the transaction volume, it means that traders are sure of keeping the bulk of the profits. The main limiting factor of using Binance is that it only allows crypto-to-crypto trading. This indicates that if you have cash, trading has to commence from another exchange that accepts fiat. This is a huge setback especially to new entrants who only have cash in the bank or credit cards.

KuCoin

This is a Hong Kong-based market that has become a huge attraction for cryptocurrency traders. Like Binance, KuCoin lists a lot of cryptocurrencies to provide clients with many profitable options. This means that you can always work on a new PPT crypto pair to continue operating profitably. The exchange employs advanced analytics on all the listed assets to help traders make the right decisions. For example, you can follow the performance of PPT/Bitcoin, PPT/XRP, or PPT/Ether among other pairs to always make the best decision. The platform charges a very small fee of 0.1% on the traded volume. This makes it one of the cheapest platforms on the market today. To enjoy more benefits, you can consider trading on the platform with KuCoin shares. The main drawback of using the market is that it does not allow traders to use fiat currencies. This means that you have to follow a very long process to convert cash to another crypto such as Bitcoin and then move the coins to KuCoin to start trading.

HitBTC.

This is a leading crypto market that has demonstrated high reliability and acceptability. Populous traders are attracted to the cryptocurrency because it provides them with over 150 tradable assets. These range from other cryptocurrencies to tokens even at the ICO stages. The market has a very small trading fee. Users are only charged 0.1% of their trading volume. This is a highly reliable option because there are other markets that charge up to 1%. The market also provides users with advanced application building protocol and a very stable uptime. The main drawback of HitBTC is that it has a hacking history. Though it has tried so much to shed off the hacking history of 2015, the notion often sends many potential users running away.

Value of Populous

Populous is one cryptocurrency that has demonstrated its great potential to grow and outdo top cryptos including its host, Ethereum. After launch, the value of PPT was slightly less than $3. However, it progressively grew over the months to hit more than $50 by January of 2018. The market cap also grew over the same period to reach a market capitalization of $2.4 billion. If the cryptocurrency maintains this trend, it could ultimately enter the league of the topmost valued cryptocurrencies.

Is It Profitable to Invest in Populous?

Investing in Populous is highly profitable. Between launch and early 2018, populous value grew progressively. Those who invested first when the cryptocurrency debuted in 2017 saw their investment grow by more 2,400% in January of 2018. This trend is what is making the populous community to believe it is a highly profitable venture.

In addition to the fast upward price shift, there is a consensus that Populous operational model gives it an upper hand compared to other cryptos. Here are some of these indicators that are making the cryptocurrency promise huge returns.

The network is led by a very tech-savvy team that has unique ideas of taking the crypto to the next level.

The cryptocurrency operates in a unique niche, invoice financing. Because not so many people or cryptos have invested in it, users’ investments are likely to keep growing progressively. Before others can develop interest and join this niche, Populous will have raked a lot of profits.

Investors in other top networks consider them to be approaching climax and, therefore, are offloading to other high potential cryptos. Great examples of these top cryptos include Populous, Icon and Qtum.

The Populous cryptocurrency community is very enthusiastic about Populous. From social media to cryptocurrency forums, the enthusiasm about the expected Populous investment is very high.

Even as more people remain highly enthusiastic about Populous cryptocurrency, it is important to appreciate that the road ahead is very rough. A lot of cryptocurrencies are entering the market and working towards outdoing those in operation. Besides, the looming regulations are also threatening to halt the entire cryptocurrency niche in its tracks.

Where to Spend or Use Populous?

The popularity of a cryptocurrency can be partially assessed by the number of outlets that accept payment in its native coins. Most people want to know that the cryptocurrency they own can be used to make payment for gas and house hold items in e-commerce stores. This is one area that Populous has lagged behind compared to its competitors such as Bitcoin and Ripple.

As a young network, Populous has not managed to convince a lot of traders to accept its native coins for payment. However, the nature of the Populous system is likely to change this situation in the coming years. Every enterprise, institution, and company coming to trade invoices is likely to start accepting PPT for payment.

The populous development team has indicated that its design takes it right to the doorsteps of both big and small companies. This means that most of the companies coming for invoice financing are likely to join in the list of companies that accept Populous for payment. There are more than three million companies on the Populous network.

While this model of operation is indeed very reliable, it is important that Populous starts looking for partnerships especially with enterprises that have a large following. For example, it could reach to Amazon and other top e-commerce stores to persuade them to accept PPT for payment. It should also start working with banks to grow its network.

Can Populous Grow to Become a Major Payment Network?

Yes, Populous can become a major payment network. The main target of every cryptocurrency out there is to become a major payment network. This is why they always start by launching the native coins that can be traded for both fiat and other cryptos. The approach taken by Populous could progressively make it one of the top payment networks in the globe.

It is already working with more than 3 million companies across the globe.

The main method of becoming a major payment network is winning the trust of companies and businesses. Because Populous is already working with business across the globe, it is likely to easily earn their trust and get adopted as a payment network. This will become a reality as Populous introduces even more products that add value to users joining its network.

The cryptocurrency network is gaining a lot of popularity.

To become a major payment network, a cryptocurrency network must work at winning a larger following. Populous is already winning on this front. Starting from launch, the popularity of Populous has been growing rapidly. The cryptocurrency is seen as a reliable option because of the progressive stability and steady price.

The cryptocurrency community is optimistic about the Populous value in the coming years.

Every time that the notion of a cashless society is mentioned, what comes to the minds of most users are the future expectations. With the Populous and general cryptocurrency community holding the view that the value of PPT will continue growing, they want to grow with it. This includes using it as a method of payment.

The cost of transactions on the Populous network is relatively small.

The cost of transactions is very important when people are selecting the method of payment to use for payment. Currently, Bitcoin is very expensive because of the high value of the native assets. However, the value of Populous is still relatively low which means that the cost of transactions is equally low. This can explain the reason why some people in the Bitcoin and Ethereum networks are converting their coins to PPT before sending.

While the indicators point at the great potential of Populous becoming a major payment network, there is no doubt that the development team has a lot of work to do. It is important that the development team focus on building more partnerships with payments networks like banks as opposed to operating as a direct threat to them. Here, it is important that Populous follows the model adopted by Ripple that works closely with banks to provide a win-win situation for all.

How Does Populous Work?

The design of the Populous cryptocurrency is aimed at operating in two ways. The main method is invoice financing. This involves bringing companies with invoices waiting to mature and buyers willing to finance them immediately for a discount. The second operation of the Populous network is facilitating the transfer of value using its native asset, PPT.

To make the two operations work, Populous employs the blockchain technology, the Altman-Z-score formula, and XBRL data. On the network, the sellers and buyers exchange the invoices using a centralized auction that utilizes smart contracts.

To sell an invoice, the selling enterprise has to register its company. Then, the Populous system has to check the invoice carefully and give or decline the application. This step is very important to avoid fraudsters printing invoices and presenting them for funding.

If the administrator approves the seller, he is required to set the minimal sales goal/amount. This will also require approval from the Populous administrator. While some people might argue that this is a form of centralization at a time when the blockchain technology is about decentralization, it is very important to weed out fraudsters.

The application of the (XBRL) and The Altman Z-score Formula

The eXtensible Business Reporting Language (XBRL) is a global standard for exchanging business info and is available to all. Because companies submit annual reports to governments, the XBRL uses the statements to facilitate further reviews based on international standards.

Populous has built an XBRL backend to act as an in-house credit reference system on the marketing database. Now, using the XBRL engine, Populous can extract very helpful data that yields foreseeable data in real-time. The data is generated from more than two million sets of financial statements gathered every year.

Populous also uses the Z-score formula that was developed by Edward Altman in 1968 to provide three very important predictive measures.

The probability that a business will become bankrupt in the subsequent two years.

Whether or not an enterprise is going to default.

A control measure for the business financial distress.

When Populous combines the extracted XBRL data and Altman Z-Score formula, it means that it will have bypassed the need to go to a credit reference bureau. It also indicates that Populous has also gained a financial and technological edge over competitors.

How invoice buyers and sellers interact in the Populous network

When you combine the different data sets and progressively analyze them, it means that Populous can easily target companies that need cash flow. Though these data sets have a very wide application, Populous is only using them on invoice financing.

The invoice auction commences after the invoice has been approved. The auction lasts for only 24 hours. At this point, the auction can only end in three ways;

A successful auction takes place (bid matches the sales goal before 24 hours are over).

The 24 hours deadline passes, and no one is interested in the invoice. In such a case, you can accept the available bids, restart the auction, or cancel it altogether.

The auction gets terminated before the 24 hours are over.

If an auction ends successfully, the seller gets the payment from the buyer in the form of Pokens. Then, the seller can exchange the Pokens for fiat or PPT (the main asset in the network). All the buyers who lose the auction have their funds refunded.

For you to buy the invoices, the Populous admin has to approve your application. This means that you are required to enter your KYC (know your customers) details. Note that these details do not apply when you are buying invoices with PPT.

The buyer is allowed to bid as an individual or work as a group. Bidding groups comprise of many individuals who enter the bidding as a group and make the application together. However, the returns have to be shared among the participating members.

The application of the native assets in the Populous network

If you decide to buy, sell, or invest in the populous network, you are required to use the native assets. The network has two main native tokens. The first is the Populous platform token referred as PPT. These are the tokens that are used in the exchanges for sending cash and other operations. They are like Bitcoins, Ether or XRP.

The other native asset in the network is Poken. Pokens are pegged directly into the equivalent amount of fiat currency. For example, 1 Poken is equivalent to 1 Euro. The Pokens are used exclusively for purchasing invoices. By pegging them to the fiat currency, it means that they are less prone to the high volatility of the cryptocurrency network.

Does Populous Use Blockchain Technology?

Though Bitcoin was the first to apply blockchain technology, every sector is now adrift towards using the same technology. The Populous cryptocurrency is one of the latest blockchain based networks using Ethereum system. Populous blockchain technology employs XBRL (eXtensible Business Reporting Language) that is linked to the cryptocurrency’s native tokens. The main aim is to create the best environment for speculators and sellers of invoices in the entire globe.

Info in the invoice discounting niche is held in such a noteworthy part when it comes to picking a budgetary choice. This is where Populous sees the importance to include blockchain to its framework. The blockchain ensures that every detail related to invoice available for trading is correct and investors have the security of their resources.

The Populous blockchain network combines transparency, trust, speed, and security with proprietary smart contracts to help pair invoice sellers with lenders so that they transact without involving third parties. The smart contracts in the Populous network lower the risk by utilizing XBRL data, the Altman Z-score, and other types of data to guarantee the highest possible level of financial creditworthiness on both the sides of the sellers and buyers.

By using the blockchain technology, Populous opens the doors to all people who want to participate in the alternative financing market. In the past, invoice financing was only possible through banks that charged very high fees. The centralized authorities also presented other barriers that made a lot of people to shy away from invoice financing. One of these limitations was geolocation.

The Populous blockchain allows a trader in Japan to look for an invoice to finance from the UK or any other part of the globe. Though some banks have tried to craft decentralized applications in the past, they failed because of pressure from current regulations.

With the Populous blockchain technology, the operations are effected through smart contracts. In most smart contracts, the agreement between sellers and buyers is that 80% of the funds are released to the invoice seller. The payment is only effected and confirmed after the transactions are entered into the distributed ledger. Note that all legal and other requirements are included in the smart contracts.

Mining Populous

While the populous network is designed to facilitate trading invoices, it is also a great platform to use to send funds. The network operates as a public ledger that captures the latest information to the blockchain in a chronological order.

When populous was created, a total of 53 million PPT tokens were created. These are the only coins that will ever exist in the Populous network. Though Populous uses Proof-of-Work algorithm to facilitate the transfer of value and transactions in the cryptocurrency network, it provides limited information about mining.

In the Populous White Paper, the main demonstration outlines how the invoices move from the seller to the buyer for financing. However, it does not demonstrate how the coins that remained after the ICO held in July of 2017 would be released into the network.

As a Proof-of-Work model, mining Populous will entail joining the network as a node and using the computer harsh power to confirm transactions. This means getting mining specific hardware such as ASICs to generate the highest possible hashing power to raise the chances of confirming transactions. You could also join mining pools that consolidate the hashing power and raise the chances of confirming more transactions before adding them to the public ledger.

What Are the Advantages of Populous?

The Populous blockchain technology runs through smart contracts. This means that both the invoice seller and buyer are guided by specific instructions to help control fraud. This is very important in ensuring that all transactions confirmed in the network are entered into the public ledger to avoid double invoicing.

Unlike the conventional invoice financing method that is highly bureaucratic and centralized, Populous now makes it easy and prompt to invest in invoices. It does not matter whether you are in Asia or North America, the Populous network will always have many invoices financing opportunities.

Invoice financing is a great model of investment that is helping to diversify where people can direct funds. But things get more appealing because the amount you will get once invoice is cleared is distinct because the Populous Poken is highly stable compared to other tokens. This means that your investment will be less prone to fluctuations in the market conditions. The only factor that can make your investment fluctuate after buying invoices is shift in the fiat currency value.

For people with interest in cryptocurrencies, Populous is very easy to understand because Pokens are like fiat currencies. By taking a ratio of fiat to Poken of 1:1, it means that calculations are direct. For example, if you want to buy an invoice for $10,000, the calculations in Populous will simply be 10,000 Pokens. Isn't it easy?

The cryptocurrency allows users to trade anonymously. Whether you want to invest in the PPT, sell invoice or buy invoices, you are able to do it anonymously. This implies that you operate without worrying about getting discovered of third-party seizures.

The value of Populous has been growing rapidly. Since its launch in 2017, the value of Populous has been growing progressively to reach a high of $50 by early 2018. This implies that you can invest and expect your investment to grow progressively over time.

The Populous community has been growing rapidly. Though many people were used to a cryptocurrency being only a network for sending funds, Populous has introduced a new way of looking at it, and the community is really excited. This has made it an irresistible attraction and helped to progressively grow an enthusiastic community.

What Are the Risks of Populous?

While the community is upbeat about cryptocurrencies especially those introducing progressive technologies such as Populous, the risks are equally many. The success of a cryptocurrency is dependent on how well it minimizes these risks. Here are some of the risks that face the cryptocurrency.

The danger posed by the looming regulations is probably the biggest in the cryptocurrency niche today. Every jurisdiction out there is committed to passing regulations that will halt the current wild growth of cryptocurrencies. Because the cryptocurrencies are seen to be usurping powers of governments, the laws are expected to be very harsh.

As a peer2peer network, Populous faces the same risk that all other cryptos face; the danger of loss. Because there is no centralized authority to check the details of the transactions, a simple mistake such as adding the wring public address when sending cash can result in huge losses. Note that such losses are permanent and cannot be reversed.

Though Populous is riding at the top because of its advanced technology in facilitating invoice financing, the niche is attracting interest from very many stakeholders. This means that other cryptos that are more appealing are likely to enter the market and make Populous less appealing.

Because Populous operates in a pee2peer and anonymous manner, traders and investors are likely to get involved with criminals without knowing. For example, an outlawed group that you would otherwise not want to get associated with can join the network and buy your invoice.

As a cryptocurrency network, all operations take place in the network, the wallet, and exchanges. This means that you are an easy target for hackers all the time. It is not uncommon to hear people saying that their coins were hacked at the wallet or exchange levels. You must be extra careful to stay free from hackers all the time.

What Happens if Populous Gets Lost?

If you have invested in Populous, one of the main risks is the danger of loss. Just like other cryptocurrency assets, Populous tokens are digital assets that only reside in its native network. Therefore, the danger of loss always looms. At this point, you might ask; how can Populous be lost yet the native assets only reside in the native network? Here are some of the main ways that you can lose Populous.

Sending the native coins to the wrong address.

Getting hacked at the Populous network, wallet, or exchange level.

Forgetting the private keys or damaging the cryptocurrency wallet.

Like other networks, it is important to appreciate that when the native assets are lost, they do not leave the network. If you lost Populous though hacking or sending to the wrong network, it means that the coins have changed hands. There is no way to restore the transactions in such a loss.

If Populous was lost because you forgot the private keys or the wallet was damaged, it means that your coins are still there. However, they are dormant awaiting you to open the right wallet and key the correct private keys. If you get the private keys, the coins will be restored to the network for direct use.

Populous Regulation

After Satoshi Nakamoto introduced the blockchain technology, governments were thrown into a state of confusion. They saw a new type of force that was out to take away their power. While the benefits of cryptocurrencies often point at the advances especially in lowering the cost of sending cash, most jurisdictions see it differently.

In the United States, the Federal Bureau of Investigations (FBI) was fast to note the threats associated with blockchain technology. By allowing users to operate anonymously, FBI pointed that the new technology provided a perfect opportunity for fraudsters to defraud people. Here are other concerns that have made most governments consider Populous and other cryptos a major threat.

The anonymity in most cryptocurrencies such as Populous means that the governments cannot follow those who do not pay taxes.

Populous and other cryptos allow users to operate on a peer2peer basis. This means that many institutions such as banks are bypassed. The ultimate effect is shrinking, closure and loss of employment.

Since most cryptocurrencies such as Populous are presenting investors with a new and more profitable avenue, the traditional methods such as real estates and shares are likely to lose interest.

As more people drift towards Populous and other cryptocurrencies, it means that governments are losing their ability to control inflation.

From the United States to China, no jurisdiction is sitting pretty about cryptocurrencies. However, experts have been fast to question why the governments are taking too long to pass legislation. For example, the United States picked the risks associated with Bitcoin immediately after the Bitcoin Core White Paper was released. However, no legislation had been passed ten years down the line.

It has emerged that passing cryptocurrency regulations is not as easy as many would like to put it. The cryptocurrencies do not have one entity to target with the laws. Immediately after a new cryptocurrency core is released, the network is owned by the nodes spread across the globe. Therefore, how do you target a crypto network that has owners spread across the globe? Here are additional reasons for governments slack in passing populous and other cryptocurrency related regulations.

The Populous blockchain and other cryptocurrency networks are providing solutions to many issues in the society. For example, they have provided the solution to Big Data which has become a huge issue to institutions, companies, and even governments.

The blockchain technology is unfolding rather fast. Even before jurisdictions can fully comprehend the technology of one type of blockchain technology, another one has already hit the market.

The cryptocurrencies are fast gaining popularity. Now, some governments are holding back for fear of losing support.

The networks have presented a reliable method of investment. In the Populous network, investors who had a chance to buy the tokens at the ICO (initial Coin Offering) stage saw their investments grow by more than 2400% in January of 2018.

While the situation appears to be unfolding from one level to another over time, one thing that investors or people with interest in cryptos should know is that regulations are coming. The resolve, especially by states that feel more threatened by cryptocurrencies, means that they will finally install laws to regulate cryptocurrencies.

Is Populous Legal?

After the first blockchain technology hit the market, no nation had established a legal framework by early 2018. However, the legal status is different in various countries with some having crafted draft bills that could become law in the coming months. Here is a closer of individual jurisdictions and legal status of Populous.

1) The United States.

Populous is legal in the United States. The United States is one of the jurisdictions that anticipate benefiting greatly from the rapid growth of Populous and other cryptocurrencies. Both the federal and individual states have remained quiet about laws on regulating cryptocurrencies. Even though the federal authority cautioned people to tread carefully with cryptocurrencies, respective authorities have been following closely to understand every progress. The only mention that a federal agency has provided about cryptocurrencies is from the Commodities Futures Trading Commission (CFTC). CFTC clarified that cryptocurrencies such as Populous should be considered as commodities. This clarification was aimed at ensuring that all the people trading in cryptocurrencies pay taxes. CFTC also insisted that any trading in cryptocurrencies must follow the securities exchanges rules in the market.

2) Russia.

Russia is one country that had led the way in crafting a cryptocurrency regulation. After the entry of cryptocurrencies, Russia had adopted a hands-off approach and indicated that it saw no need to regulate cryptocurrencies. However, the approach suddenly shifted in the last quarter of 2017 when the finance ministry reported that there was a huge gap in the application and use of cryptocurrencies. By mid-January of 2018, Russia indicated that the new cryptocurrency bill was ready. The bill aims at providing a complete guide for cryptocurrencies development, ICOs (Initial Coin Offerings), mining and exchanges. Note that this law is in the early stages and could take some time before going through the entire cycle of becoming operational.

3) China.

Populous is legal in China. While China has no kind words for anything crypto, it was yet to pass a legal framework to guide the cryptocurrency landscape. The Chinese administration was quick to note the huge disruptions brought by cryptocurrencies. Using direct orders, China started with banning ICOs (Initial Coin Offerings) that were considered to misdirect investments from the conventional options. Then, it froze bank accounts of exchanges that were dealing with cryptocurrencies and banned miners. Even as the harshness towards cryptocurrencies was openly demonstrated, the crypto niche continued to blossom. Every area of cryptocurrency, from mining to exchanges, grew faster in China than other jurisdiction.

4) Switzerland.

While most countries such as China, Chile, and Russia have demonstrated open bias against cryptocurrencies, Switzerland has taken an entirely different approach. The jurisdiction is inviting as many cryptocurrencies as possible to go and settle their bases in the nation. The administration pointed that the blockchain technology is an idea whose time has come and must be supported at all costs. In January of 2018, the Swiss Minister For Economics, Mr. Johann Schneider-Ammann, said they want to make Switzerland a crypto nation. This positive approach is what has made most of the cryptocurrencies in the Globe to base their foundations there. One thing that people should rest assured about cryptocurrency regulations is that even if all other nations stifle the cryptos with negative regulations, Switzerland will always be an oasis for them.

Populous and Taxes

The topic of taxes when it comes to cryptocurrencies is complex and slowly turning very bitter. Many governments have indicated that entry of cryptocurrencies has made it very difficult to collect taxes and support developments. This is the reason that has made most jurisdictions to start working on harsh laws.

Some people in the Populous cryptocurrency network and other anonymous network have been arguing that they can operate without paying taxes. Some have even been withdrawing funds from banks and investing in PPT to grow their portfolios tax-free.

Though it is true that Populous is an anonymous network and you can operate without worrying about getting unmasked, the tax experts have a different view. The technology is advancing very fast and what is considered anonymous today could be unmasked in the coming years. This could open a gate of lawsuits against you. This is what happed with Bitcoin.

When Bitcoin was launched in 2009, investors held the view that their operations were completely anonymous. However, things changed a few years down the line when new technology was introduced. Now, it is possible to get unmasked when making transactions in the Bitcoin network. The same progress is likely to replicate in other networks such as Populous.

In Israel, the government indicated that every trader must pay taxes. It pointed that people thought to evade paying taxes especially in the cryptocurrency networks would be followed and slapped with hefty penalties. The same warning has been fired by other countries including China, South Korea, and the United Kingdom.

How to use Populous and remain tax compliant

Ensure to consider every income from trading Populous is considered taxable revenue.

Ensure to capture important details when trading in cryptos. This is important in case you need to prove to tax authorities about compliance with tax laws.

Ensure to always note the value of PPT and corresponding fiat currencies to prevent over or underpaying taxes.

Note: The looming regulations are mainly targeted at ensuring no one stays outside the taxpaying brackets. Therefore, make sure to stay ahead of the law and trade without fear of breaking the law by paying taxes on time.

Does Populous Have a Consumer Protection?

Populous does not have consumer protection. Like other cryptocurrency networks, the Populous cryptocurrency network belongs to the community. This means that all the decisions made in the network are based on the technology and consensus system. If you are sending money or investing in the network, it is important to appreciate that you are on your own.

Lack of consumer protection is made worse by the fact that cryptocurrencies are not regulated. This means that you have nowhere to complain to if you feel that something bad happened to you on the network. This leaves people asking one very common question; what is the best way to operate securely in the Populous network? Here are some useful tips.

Ensure to always triple check the public address of the target client before sending funds.

Make sure that you only use one computer when accessing the Populous network and its wallets. The computer should also be well protected using a good antivirus and appropriate firewalls.

Your Populous node and wallets should always be updated to lower the risk of intrusion by hackers.

Consider only trading in cryptocurrencies that have demonstrated the commitment to protecting their clients and their assets all the time.

Never share the private address with anyone. You should also safely keep the private keys seed, and backup the wallet as a fall back plan in case of a loss.

Illegal Activities with Populous

Many criminals have been looking at cryptocurrencies as the best platforms for advancing their illegal activities because they can operate anonymously. Despite the platforms creating the seemingly ripe launch pads for illegal activities, no such case with Populous had been reported by early 2018.

Is Populous Secure?

Every time that a new cryptocurrency hits the market, interested parties want to know whether their assets will be secure or not. The Populous development team understood about this focus and went a step ahead in ensuring that the network is one of the most secure out there. The following are the methods used to keep the Populous system secure.

The Populous network utilizes the eXtensible Business Reporting Language (XBRL) and , Altman Z-score formula that help to ensure all the invoices listed in its system are true and real. Besides, it lists them in its public ledger to ensure that no invoice can be sold twice.

The cryptocurrency uses smart contracts that only allow users to enter into an agreement based on specific terms and conditions. This means that the seller and the buyer must come to a binding agreement before a transaction is completed. This is made easy because the transactions are done on a peer2peer basis.

The Populous cryptocurrency uses advanced cryptography and works with a highly enthusiastic team. They do not simply look at the threat targeted at the network alone. Rather, they also look at threats to other networks and craft the best mechanisms for addressing them. This is what has kept the cryptocurrency free from attacks since 2017 when it was launched.

Is Populous Anonymous?

Anonymity has become an important component in the cryptocurrency industry. Many people targeting to enter the crypto industry want to know about security, anonymity, profitability, and potential for growth. To provide an anonymous trading platform for users, Populous uses advanced cryptography when a user initiates a transaction. This means two things.

The nodes spread in the network can only follow the details and confirm whether they are true but cannot unmask the specific person.

Unlike banks that maintain open details that can be checked by everyone, the encryption at Populous keeps your details free from third parties.

Though Populous is committed to ensuring that all transactions are private, it is important to appreciate that it employs the Proof-of-Work algorithm model that leaves behind signatures of most transactions. This means that if a person wants to follow and unmask you, it is still possible. At Bitcoin, the leading cryptocurrency, users were shocked to realize that it was not as private as expected.

Note: Despite this fact, unmasking a user is a lengthy and complicated process. Only the most advanced technologies and tech experts can do that.

Has Populous Ever Been Hacked?

The populous network has never been hacked. Since its establishment in 2017, no successful hacking attempt has been reported in the Populous network. Note that this does not mean that there are no attempts made in the network.

Cybercriminals have made numerous attempts targeting to defraud users in the network without success. This means that you need to be extra careful to remain secure in the network. For example, your computer should always be updated, have the latest version of the Populous client, and select the markets with extra care. You should particularly focus on getting the markets that have no history of hacking.

How Can I Restore Populous?

Many people joining the Populous network have a lot of expectations that their investment will grow over time. If something happens and they lose their coins, the loss can be very painful. To make the situation even more painful, the Populous is a decentralized network and transactions cannot be revered after confirmation and adding to the public ledger. However, there are some situations when lost Populous can be restored.

Restoring Populous lost through loss of cryptocurrency wallet. If you lost the Populous wallet through damage to the drive of the computer it was installed in, or it got stolen, restoration can be done using a backup. If you were using a desktop app, consider using a backup that can be used for restoration in the case of a loss. However, those who do not have backups can look for other ERC-20 wallets and generate the private keys using the private keys seed phrase that was generated by the previous wallet. Then, update the wallet to reconcile it with the latest block in the public ledger.

Restoring Populous lost through loss of private keys. For those who lost Populous coins by forgetting the private keys, the only way to get them back is using the seed phrase. This is a 24 word phrase that was generated the first time you used the wallet of choice.

The secret to the successful restoration of Populous is ensuring you are prepared before the loss strikes. This means that you must be prepared for loss all the time. To make it easy to recover the coins, it is important to always keep a backup of the cryptocurrency wallet as a fallback option in the case of a loss. You should also store the private keys properly stored away from the main computer.

Note: If you lost Populous through hacking or sending to the wrong address, the coins cannot be restored. They have changed hands. You can only think of getting new coins.

Why Do People Trust Populous?

Since 2009 when cryptocurrencies debuted, the race has become very intensive. Even before all the features of a cryptocurrency have been reviewed completely, another network is already in the offing. Populous has received a lot of positive reviews from the already excited community.

The community has liked the idea of invoice financing because it has opened a new investment channel. Though this does not mean that invoice financing is new, it is the Populous network that has made them more available. Therefore, you can invest in the invoices or buy PPT to wait and see their value grow. Other reasons that are making people trust populous include.

The cryptocurrency's price has been steady since its launch.

Many people look at the value of a cryptocurrency to tell whether it is a trustworthy network or not. Because of the steady price growth starting from launch, people believe that buying the native assets will guarantee them huge returns in future.

The cryptocurrency is led by a very enthusiastic team.

A cryptocurrency is as good as the leading team. The team, led by the founder, has been working on highly advanced technologies that help to provide a secure trading platform for both buyers and sellers. The focus and enthusiasm demonstrated by the Populous team mean that the network is likely to grow into a major payment network.

Populous has never been hacked since introduction.

Many people gauge the popularity of a network based on the level of security. The architecture of populous has been carefully thought about to ensure that all intruders are kept away. This works well with the highly aggressive team that is very proactive in noting threats and thwarting them before they strike.

The double token model is easy, interesting and very stable.

As other cryptocurrencies struggle with threatening volatility, Populous hatched a great plan to protect its clients coming to trade invoices. In addition to the PPT used in the standard cryptocurrency network, the cryptocurrency only allows users to fund invoices using a different token called Pokens. Because the Poken to fiat cryptocurrency takes the ratio of 1:1, it means that users are protected from fluctuations that often hit the crypto market. This is the reason that millions of companies have joined the Populous network while an even bigger number of buyers keep joining the network.

The cryptocurrency operates in a very transparent way.

One notable thing about cryptocurrencies is that most of them are founded and run by anonymous figures. A good example is Bitcoin. Since 2009 when Bitcoin was founded, Satoshi Nakamoto has remained an anonymous person or group of persons. Now, Populous has taken a completely different route that is making more people to trust it. The founder, Stephen Williams, is a well known British expert analyst in the Big Data niche.

History of Populous

The history of Populous can be traced back in 2016 when the founder, Steve Williams, started thinking of how he could use XBRL to hasten the process of facilitating the sale of invoices for businesses that had their cash stuck in the short-term assets. Its development history can, therefore, be broken into six main stages.

The main Populous concept development.

The development and publication of the white paper.

The smart contract development.

The initial coin offering.

The XRBL integration.

The public beta release.

The Populous ICO was held in July of 2017 and raised a total of $10 million. The price of the PPT remained relatively stagnant the subsequent two months trading at $2 to $4. However, it rose to more than $50 by the start of 2018. The January 2018 market surge followed the announcement of Populous partnership with Luxure Global Citizen, a company that sells the expensive Lamborghinis (Italian sports cars).

Who Created Populous?

Populous was created by Stephen Williams, an expert in finance domains and Big Data. Williams has a special interest in eXtensible Business Reporting Language (XBRL) that has helped to define how businesses file their financial reports.

Williams initially started by designing a tool for extracting lists of enterprises that he considered asset rich but lacked cash (asset rich but poor in cash). This means businesses that have assets such as invoices that are waiting to mature but do not have the cash to run most or all of their operations. He started selling this information in a door-to-door model and received overwhelming support. Most of the businesses appreciated when they got clients intending to fund their invoices by providing direct cash.

As blockchain technology advanced, Williams did not wait to seize the opportunity. He created a real-time financial marketplace by scaling XBRL data on the already running Ethereum blockchain. It is important to appreciate that his early works could not have been successful without the assistance of a number of great personalities including Zvezdomir Zlatinov who is the CTO and Jonathan Millar who serves as the Invoice Risk Financing Specialist.

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