- Looking for a cheap coin that could potentially go to the moon in the near future? There are so many new coins coming out these days that it’s hard to choose which one to invest in. That said, we perhaps found a new Dogecoin on the horizon: Oxen.
The Oxen coin, formerly named Loki, presents a market value surfing around $60 million and is currently trading at $1.16 per 1 OXEN. The highest it got since its debut in January 2021 was $2.26 per coin (April 2021). The particularity of this coin is that instead of being entirely transparent like most other coins, it proposes a more secure and anonymous approach.
Why should I buy Oxen?
The big advantage of the Oxen coin, like mentioned above, is that it supports anonymous transactions. When you are day trading cryptocurrency, the associated blockchain is usually transparent, which makes your address public for everyone to see. Your name or any personal information of the sort are not shown, of course, but it is still not 100% safe.
However, with the Oxen crypto, 3 key features make this coin one of the safest options out there on the market:
Ring Signature 10 addresses for 1 transaction: 1 is real, the other 9 addresses are simply decoys. This is called a Ring Signature.
Stealth address Oxen will create a one-time code during each transaction for the address that will show up on the receiver’s public key. Therefore, you can send and receive transactions without anybody ever seeing your wallet address.
RingCT Protocol This protocol will ensure that the amount sent is greater than 0 and that no one can see the amount of the transaction in progress.
Is there an application for Oxen?
Yes, and in fact, there are 3 applications dedicated to Oxen and its anonymous features. First and foremost, you have Blink, which is the platform used for incoming and outgoing payments. What’s even better? It is the only privacy-centric digital coin to offer payments that take less than one second to be processed!
If you want to chat anonymously, you can use their encrypted messenger platform named Session, directly built on the Oxen blockchain. It doesn’t record your IP address, and you don’t need to enter a phone number nor an email address.
And last but not least, you have Lokinet (inspired by the original name of the coin). Lokinet is like its own web browser world, with anonymous voice and video calling applications.
To conclude, if you are wondering if you should jump in and buy a few Oxen coins for yourself, we’d say it’s not a bad idea at all. It offers a full package, great security features, and a pretty cheap price at the moment. Now the question is, are you willing to bet on that horse or is it too soon?