Price of Noah Coin (NOAH), an ERC-20 token to be used for ambitious real-world projects like crypto city, was in the green during the bearish market.
Noah Coin (NOAH) has performed quite well in the bearish cryptocurrency market.
The ERC-20 token is the crypto for the Noah Project, a platform aiming “ to consolidate and allow [crypto] users on-board around a specific and intuitive platform” comprised of money remitting, discount, and trading services.
On October 3, Noah Coin was trading at US$0.00161302, around 50 percent more than from last week’s value of US$0.001069. Meanwhile, the crypto has also increased in market capitalization from US$34.771 million to US$52.403 million.
Top 100 avg 1h return: -0.4±0.9%; 15 up, 85 down$BTC -0.2% $ETH -0.6%
4.0% $NOAH @NOAHCOIN_Proj
3.7% $RDD @reddcoin
1.2% $DCN @dentacoin
Top 101-200 avg 1h return: -0.4±2.9%; 25 up, 74 down
12.5% $OCN @OdysseyOCN
9.2% $DGTX @digitexfutures
5.7% $UBQ @ubiqsmart pic.twitter.com/O838gmqH1b
— Coin Trading Analytics (@CoinTradingBot) October 3, 2018
However, a number of crypto enthusiasts explained that this coin’s worth does not rely on its price alone. Many projects are in line to display the practical use of the Noah Coin.
Here are the reasons that could convince the crypto community to be excited for the Noah Coin.
1 | Crypto Remittance for Filipinos
Workers and other individuals residing in Japan and other countries can send money electronically to the Philippines faster and cheaper through Ark Remit.
Instead of fiat currencies, users can remit money in Noah Coin, Bitcoin (BTC) and other cryptos by using Ark Remit. Through blockchain technology, money transfer using cryptos is faster compared with the traditional remittance methods.
Do you know that in the Philippines remittances make up 10.2% of the country’s GDP? Still the existing remittance system is imperfect and suffers from unwanted middlemen and high fees. That’s when blockchain appears to save the day. ? https://t.co/Kcm2mq8WNS#noahproject pic.twitter.com/qMFJZ2Q1jb
— NOAHCOIN Official (@NOAHCOIN_Proj) September 29, 2018
In addition, the remittance service would trim down the usual cost incurred and the time consumed when transferring money across borders. The crypto’s whitepaper claimed that the 10 percent cost for transferring PH₱10,000 drops to only two to three percent when using Ark Remit.
| Related: Change: Commission-Free Crypto Transactions
2 | Crypto Resort in the Orient
The Noah Project also plans to create a “travel paradise for crypto holders” in the southern part of the Philippine archipelago.
The Noah Resort, according to the team, would be a luxury resort situated in the middle of Dakak Beach Resort in Dapitan City, Zamboanga del Norte.
Marvelous landscapes, luxury amenities and exciting pastime blended with high-tech solutions. Isn’t it amazing? ? Our future #NoahResort will be a place, where the digital money is always welcome. And how do you imagine your perfect crypto vacation? ? https://t.co/ot3I0vGBpa
— NOAHCOIN Official (@NOAHCOIN_Proj) September 27, 2018
In this leisure spot, vacation-goers could avail services and purchase products using Noah Coin. In addition, visitors can use the crypto to get exclusive access to different facilities within the resort, as well as discounts.
The project’s roadmap suggested that guests could start using Noah Coin at the Noah Resort in 2022.
3 | Futuristic Crypto City in the Capital
Apart from developing the Noah Resort, the Noah Project would build a city in the middle of the sea that would become the Fintech hub in the Philippines.
Noah City would be a crypto-focused area inside Horizon Manila—a proposed central business district built on reclaimed land. Like in Noah Resort, visitors of Noah City can use NOAH as payment, with discounts waiting for those who will do so.
Read this article to find out how the Noah Project will continue to develop. https://t.co/w2R81VVoTk
— NOAHCOIN Official (@NOAHCOIN_Proj) October 1, 2018
The Noah Project has raised US$110 million during its token sale in early 2018, before the release of Noah Coin shortly later.
As of the moment, interested crypto enthusiasts could own Noah Coin through only six exchange platforms, including HitBTC, Livecoin, and Changelly.
| Related: Changelly: A Newbie-Friendly Instant Crypto Exchange