LUXCoin Review - A Combination Of Komodo, Ark And Dash

I found out about LuxCoin around a month ago, when there was very little information about the project. It did have a lot of promises, but it wasn't clear who was behind it and is there going to be anyone delivering on these promises in the long term.

This month there has been some major progress in this project, the team was revealed, a company registered in Australia, a roadmap detailing the whole development process has been laid out and a rebranding of the website has been done.

All this makes me more comfortable finally recommending this project because it's now quite clear that this isn't some scam or a shitcoin.

So, what is LuxCoin? Is it the new Bitcoin or Ethereum? Well, probably not, but it can definitely go big, they would probably have more attention if they have done an ICO, but they decided instead to premine a percentage of the coins and start off like that.

I would compare LuxCoin with Komodo and Ark, I would even say it's a combination of these two and then some. LuxCoin is a platform for dApps with a bunch of really cool features that are going to be implemented like LuxGate, coin mixing (privacy), parallel master nodes, multi signatures, segwit.

When you combine all of this the possibilities of use cases are basically limitless and the fact that the current market cap of LUX is only around $25 million is just crazy.

If the development goes right, I can see Lux in the near future being somewhere among those platforms I already mentioned: Ark, Komodo, which means there's a lot of growth potential.

Right now Lux is only on Cryptopia, which isn't a huge exchange, just by getting listed on more exchanges can drive massive growth. They have started marketing and there will be a lot more buzz around LuxCoin, they even got featured on Nasdaq.

Due to their Consensus mechanism, which is quite similar to Dash, you got proof of work mining, master nodes and you also have static proof of stake, all this means that a lot of tokens will be locked up in master nodes and in staking leaving very little tokens to trade around, which can also lead to massive growth.

I personally have been staking for over a month now and the rewards are high enough to hold on to your coins and not sell them off, even after these massive gains already. Whereas for something like NEO where the GAS dividend only amounts to around 5% yearly returns, it isn't really holding people off from selling.

In the long run, the staking rewards will probably get lower, but the master nodes are the ones that really matter here.

So, in my opinion, this is definitely a coin that you should get in your portfolio, it's still a very small coin with the set up to grow big, think of it as if you are getting it at an ICO price right now. Oh, and did I mention there will be a token burn coming soon?

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