Extensive Coin Review

This week I’d like to introduce you all to Extensive Coin (EXTN). This coin is what I would call, “under the radar” as it’s still in the early phases of the project. Extensive Coin is a POS (proof of stake) coin, meaning you can earn interest (additional EXTN coins) by making your coins available to the network in a wallet. Proof of stake is an alternative to proof of work (used by Bitcoin) to verify transactions. Proof of work mining requires expensive, high grade computer components and uses a ton of electricity. Proof of stake only requires a simple computer setup and an internet connection. Proof of stake is much more energy efficient as well, since the computer is not doing heavy processing. I feel like the upcoming POS coins are the ones to really be on the lookout for in 2018.

Extensive Coin had their ICO in late 2017 and shortly after got listed on coinexchange.io, coinmarkets.com, and just recently cryptohub.online exchanges. EXTN rose to a high, trading at .001929 BTC (approximately $30 USD) on January 8th, 2018. With the current market pullback, it is trading around .0011 – .0012 BTC (approximately $10 USD). Extensive Coin is unique in that the max supply of coins that will ever be produced is only 560,000. Yes, that’s five hundred and sixty thousand. Bitcoin’s max supply will be 21 million and many other coins like XRP have a max supply in the billions. This low max supply will help EXTN maintain value, stability and a natural price growth.

I decided to invest in some EXTN and test out the staking feature this past week. So far, I am very impressed with the technology as well as the communication of the team. After purchasing EXTN on Coinexchange.io, I downloaded the windows wallet off the official Extensive Coin website. Setup was flawless and took about 2 minutes for the install. It then took my wallet about an hour to sync with the network (other coins have taken days for this process). Once my wallet was synced I put in for the transfer of my coins from Coinexchange to my wallet. I hit the confirmation button in my email and started the stopwatch on my phone. Before I could even set my phone down, the wallet notified me of an incoming transaction. Within 35 seconds my transaction was complete, and the coins were in my wallet. I’ve experimented with transfers of a bunch of different cryptocurrencies and this is the fastest transaction I have completed to date.

Once my coins were in the wallet I had to enable staking and wait for my coins to mature. Knowing that this process can take some time I let the wallet run and went to sleep for the night. I checked it in the morning. In less than 8 hours from when I had started the maturing process my coins were staking! At this point the wallet notified me that it was out of sync. I was able to log in to their telegram channel and speak directly to a developer who told me he was working on the problem. Within an hour my wallet was synced again. The wallet then notified me I had an expected time of 8 hours before I would receive my first staking reward. Right on time after roughly 8 hours, I received a reward which was .0023% of my total coins. Extensive coin POS return is 99% annual interest, meaning if you stake for one year you will almost double your amount of coins. If in that year the value of EXTN goes up, your investment can potentially have exponential gains.

Overall, I am impressed with Extensive Coin. They’re on track with their roadmap (seen here). They are active with their community on Twitter, Telegram and Discord. They offer a great POS annual return rate, and their transactions are lightning fast. They’ve submitted the application to be listed on coinmarketcap.com and have hinted of more exchanges to come soon as well. I think it’s only a matter of time until the crypto-community takes notice of this “under the radar” coin.

View coinspacenews.com Altcoin Updates here.

View my top cryptocurrency growth potential picks for 2018 here.

Disclaimer: I am not a financial adviser. There is a lot of risk involved when investing in cryptocurrencies. Please do your own research.