Groestlcoin (GRS) Price Recovers Back to $1: Here’s All You Need to Know

Groestlcoin (GRS) dropped to around $0.64 last week, but has since recovered and reached $1 again. Here's all you need to know about this coin.

Groestlcoin is a multifunctional cryptocurrency that boasts several top features that make it a really promising alt coin going into 2018. Currently priced at just $1.02, and with a modest total supply of 105,000,000 this coin has managed to remain under the radar for quite some time now.

However, since it’s recent adoption in South Korea, the coin appears to be growing in popularity, as the trading pair GRS/KRW accounts for over 60% of its total 24hr traded volume. 

Looking into the coin in more detail, Groestlcoin really stands out as a cryptocurrency that ticks a lot the boxes and could be the one to watch.

What does it offer? 

Groestlcoin has super fast transaction times with a network of over 120 active electrum public servers (21 active servers more than the Bitco network!). This means greater decentralization and performance across the network for its users. 

With congested networks producing slow, and often costly transactions, we rarely get projects that deliver on ‘lightning fast’ transaction promises. 

Groestlcoin solves this problem by also being SEGWIT and Lightning Network ready, which offers a scalable solution to its network to help process a greater number of transactions as needed. 

Groestlcoin offers multiple wallets on its official website, including mobile, desktop and privacy wallet options.

The ‘Samourai wallet’ enables totally private transactions, supporting TOR and VPN services, which allows its users to route the transaction through an anonymous IP address, as well as a military grade AES-256 encryption service that encrypts all transaction information when sending funds via mobile phones. 

The demand for private transactions in the crypto space is bigger than ever, with other privacy coins like Monero, Zcash, Verge and Zclassic all experiencing strong price movements last year. Even computing and programming magnate, John Mcafee spoke out in favour of privacy coins, causing a huge wave of investment across these types of coins.

Groestlcoin also has its very own ASIC resistant, GRS hashing algorithm which means that anyone can mine GRS coins easily, via GPU or CPU mining on their computer. This is great for a number of reasons:

(1) Being able to mine GRS with your computer means that you won’t have to shell out for an expensive specialized mining rig

(2) The GRS hashing algorithm is one of the most energy efficient algorithms for mining, using far less electricity and producing much less heat, especially compared to the enormous crypto-mining facilities that exist around the world! 

(3) This also greatly benefits the overall community as GRS coins are distributed fairly amongst its miners as opposed to large crypto-mining companies and pools dominating the supply. 

Where can you buy it? 

Groestlcoin is available across 15 exchanges, main ones being Upbit, Bittrex and Cryptopia.

Future of GRS

With so many great features, new interest coming from South Korea and its current price around $1, Groestlcoin remains a strong contender for the micro-payments space this year.