Dragon Coin Guide
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What is Dragon Coin?
The primary goal of the Dragon coins (DRG) is to play the role of a cheap, smooth and at the same time transparent mechanisms. The company behind the Dragon coins was hoping to integrate the idea into the casinos in form of an innovative financial mechanism. As a result of the integration, Dragon hopes to change the gaming industry and benefit the people who are involved in it.
Dragon Coins, also known as DRG tokens are needed for acquiring membership as well as access to the Dragon platform. The company also offers Dragon Global Chips, which are referred to as DGC. These are utility tokens with stable rates and are nailed to fiat currencies. These are created as a protection from the market volatilities that exist in the cryptocurrency market. The coin is the medium of exchange, which will be mainly used for using the goods and services provided by the Dragon platform. For this very reason. DRG tokens are often referred to as utility tokens. This internal cryptocurrency, which designed for Dragon ecosystem, can be converted into fiat currencies as well as into various cryptocurrencies. DGC can be converted into virtual gaming chips due to their fixed value. The conversion can take place at venues such as Dragon Junket as well as at gaming venues affiliated with Dragon.
Those people who hold a membership have a chance to get an access to the Dragon platform. This access comes along with certain benefits, such as operations and special services inside the community of Dragon.
The Dragon Inc. is registered in the British Virgin Islands since 2017. The team behind the Dragon Corporation consists of experts from business, finance, tech and a number of other spheres. The CEO of the company – Chakrit (Chris) Ahmad is a business person along with the co-founder Paul Moynan. The company also has a good team of advisors who come from all over the world and have all kinds of experiences from various relevant spheres.
Main Features of Dragon Coin
Improving the casino system
The company aims to solve issues regarding the high inbound costs that are fictional. Through tokenization and by applying the blockchain technology into the process the company aims to reduce the costs, increase the productivity, safety and provide a professional management in the risky environment.
Smooth and an easy process
The platform provides the users with an opportunity to convert their money into tokens. These tokens, later are safely registered on the blockchain and are supported by the platform. As the wallet is also available in form of a mobile app, the users can see the representation of the tokens they hold in form of simple numbers.
The company lets people use DGC while gaming. The users can convert the DGCs they hold into DRG, which later on can be converted into a fiat currency. This way both the junkets and the casinos manage to have gained in for a form of profits, increase the efficiency and get a chance to exercise the system known as the cash management.
Dragon manages to decrease the costs as low as to 1% from the initial 5%. This cost usually is for the junket participants and the elite gamers who use the digital financial platform designed by Dragon. This decrease in cost lets the profits increase and gives the gamers a chance to release a greater amount of stake money.
Transparency and security
A secure transaction ledger which promises to be transparent is provided for casino and players by the Dragon’s Blockchain facility.
To create a continuous and growing demand, players require DRG in order to buy DGC Dragon Global Chips.
Dragon Coin Module
The module that stands behind the Dragon Coin operations consists of multiple steps. You can buy DRG tokens from different online exchange platforms any time (read more about those down below). In case you are interested in using your Dragon Coins in a casino you are supposed to exchange DRG tokens into DGC. The exchange and the conversion can take place at casinos or junkets. The players who win are paid out and they are supposed to convert whatever they won into DRG. Alternatively, they can ask for payouts in form of fiat money. DRG tokens are burned in order to decrease the supply of these tokens in the circulation. This process is making one of the oldest and riskiest spheres transparent, safe and beneficial for its users.
Dragon Coin ICO
The Dragon coin ICO has raised more than $ 320 million, out of the $ 400 million hard cap that it has initially set. The pre – ICO and the ICO started on the 8th of December, 2017, and it was over on the 28th of February 2018. During the ICO the accepted cryptocurrency was Ethereum (ETH). At the time of the ICO, the price of 1 DRG was equal to 0.005 ETH, which at the time was worth around $ 3.03. The total supply of the tokens are 500 million and during the ICO the company has distributed the 7% of the tokens. The company applies the Know Your Customer process also known as KYC. During the ICO people from the US, Singapore and China were not allowed to participate.
As it was mentioned above, Dragon Coin is often referred to as DRG. This new digital currency is based on Ethereum blockchain technology. It is very much supported by a number of businesses from the gaming and casino industry. As an ERC20 token, it is widely accepted and is compatible with various cryptocurrency wallets as well as the online exchange or trading platforms. As the company partners with FinTech, it has recently announced a new partnership that will integrate DRG tokens in the entertainment industry. This way the company hopes that the token will have a potential to become a widely accepted and a universal one.
The DRG tokens were distributed as follows:
- Junket Partners – 53%
- Early Supporters – 12%
- Team – 10%
- Reserves – 10%
- Public Sale – 7%
- Treasury – 7%
- Advisors – 1%
The DRG tokens are not only widely used by various high rollers at different casino junkets but those are also used by large communities of online gamers. The company is doing everything possible to widen the DRG token use cases as much as possible and by far it is doing it pretty well.
Dragon Coin price growth
Just like any other cryptocurrency, Dragon coin too is not an exception when it comes to the price volatility issues along with the risk factors. To give you a better idea, DRG tokens were worth $ 2.39 on the 24th of March, 2018. Later on, on the 4th of April, the price of DRG tokens went down to $ 0.578. On the 9th of April it went up to $ 1.42, then fell down $ 0.876 and as of the 10th of April it has increased by 8.83 % and reached up to $ 0.9713 per DRG token.
As it was mentioned above, Dragon Platform is also supporting digital utility tokens known as DGC aka Dragon Global Chip. The very first global chip appears to be DGC – HK. Please note that currently the value is backed up by the dollar of Hong Kong. The rate of the backup is $ 1 HK = 1 DGC – HK.
Dragon Coin Roadmap
The idea about the Dragon has risen up and the team behind the current company has started to work towards the direction of making it come true.
After the documentation of the ideas and the plans, the team has started to build strategic partnerships. They became partners with casinos and junkets around Asia.
The team behind the Dragon made its public appearance for the very first time in Macau. During the event, the Dragon team has brought a number of experts from all over the world from the token sale and blockchain spheres to make the project come true.
The Dragon pre-sale has raised more than $ 20 million from various institutions as well as private investors.
Dragon coins got listed on various cryptocurrency exchange platforms such as Gate.io, KuCoin, and Index.
The junkets were ready and the public crowd sale has been launched.
The company starts trailing the Dragon blockchain in casinos. The plan right now is to expand to the largest existing casino market in Asia – Macau.
How to buy Dragon Coin?
Like many other tokens, DRGs as well cannot be bought directly with fiat currencies. In other words, in order to buy DRG tokens, you have to have well-known cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH). Here are the steps that you need to take if you want to buy DRG coins:
- Get an ERC20 compatible wallet and make sure that it supports DRG cryptocurrency. Dagon coin wallets can be online or hardware. Please note that for safety reasons it is not recommended to store large sums of cryptocurrencies on online wallets. Such wallets can be easily hacked and the tokens stored on it can be stolen. As for the hardware wallets, those are the safest options at the moment, however, you need to buy the device beforehand. You can find out more about the wallets that support the DRG tokens down below.
- If you do not have BTC to ETH buy those. You can find out how to buy Bitcoins here.
- After buying BTC or ETH you need to choose a safe and a reliable website where you can buy DRG tokens (you can find the list of exchanges that list DRG tokens down below).
- Sign up on the website you want to buy DGR from.
- Go to assets, choose the cryptocurrency you want to deposit with and click on deposit.
- Get the cryptocurrency wallet address that you are supposed to send your deposits to.
- Copy the address wallet and go to the exchange platform from where you have bought ETH or BTC.
- Choose the wallet you use, click on send and fill in the details.
- After successfully sending your cryptocurrency to the exchange platform you want to buy DRG tokens from, go to the markets section.
- Choose the cryptocurrency you are going to buy with (e.g. BTC or ETH).
- Choose DRG and buy.
- After you buy the tokens make sure you store them in a safe wallet that we have discussed in the very first step of the guide.
Dragon Coin Wallet
This is majorly an Ethereum and token wallet generator; it supports ERC20 tokens which make it possible for people to engage in cryptocurrency ICOs. It is user-friendly, both novice and experience crypto users can use it. As a further security measure, it supports both Ledger and Trezor hardware wallets.
The Myetherwallet is very easy and convenient when the Ethereum network is congested, users experience difficulty sending Myetherwallet transactions. It is an online wallet that allows you to interact with the Ethereum network.
Myetherwallet allows you to create your own wallet and transactions can be broadcasted on the blockchain through the Myetherwallet full node. Myetherwallet was created by two developers which are Kvhunke and tayvano. You can buy Dragon coin token an move your token to Myetherwallet.
This is a cryptocurrency hardware wallet. It is the cheapest hardware wallet so far. It can be connected to any system, with Ledger Nano s you can secure your private keys and transactions cannot be tampered with. Payments can be sent and received; accounts can be checked and multiple addresses for each currency can be managed through Ledger Nano S.
It is an offline wallet with a high level of security and a user-friendly interface. Private keys are kept and transactions are signed with the use of a USB that can be plugged into your personal computer. It can store, send and receive your cryptocurrency. It is a multi-cryptocurrency wallet that supports Litecoin, Zcash, Ethereum, Dash, Dragon coin etc. With Trezor wallet, your transactions are well secured and kept private from others; it is often regarded as one of the best cryptocurrency wallets because of how secure it is.
Mist wallet is an official Ethereum wallet designed to put users in control of their funds, it is a multi-cryptocurrency wallet that supports other cryptocurrencies such as Litecoin, Bitcoin, Ethereum, Zcash, Dash, Dragon coin etc. mist users have to download the entire Ethereum Blockchain before it can be used.
Dragon Coin Exchanges
The exchange platform known as Qryptos is a project of a company called Quoine Pte. Ltd. It has been founded back in 2014 and currently operates its offices in Vietnam, Japan, as well as in Singapore. Qryptos follows the Japanese Financial Service Agency aka JFSA standards. The exchange platform is working hard on offering its customers as many features as possible. Currently, it is working on a new project and within its frames, it will be offering an app for mobile devices. There have not been any major hacks on this platform. However, you should always try to take actions that put the security in the first place. It offers BTC/DRG and ETH/DRG pairs.
CoinHub is another cryptocurrency exchange platform that is known for supporting Dragon Coin. It is a relatively new exchange platform and is not very well known amongst the crypto enthusiasts. The company has offices in Dubai and Singapore and has a goal to operate globally. The platform supports a 2FA and has a trading fee of 0.25 %. Please note that the residents from the US cannot use this cryptocurrency exchange platform. It offers USD/DRG and ETH/DRG pairs.
HitBTC is a cryptocurrency exchange platform that has been in the business since 2013. The company is based in the EU zone. Despite the fact that HitBTC classifies itself as one of the best exchange platforms available on the market, it is often criticized by its users. People often complain about the long verification process and the relatively high fees. It offers BTC/DRG and ETH/DRG pairs.
This is an exchange that features Ethereum and ERC20 token trading pairs. It features Ledger Nano S and Meta Mask Wallet integrations which are safer for managing funds rather than manually entering your private key. Your funds can be managed through the exchange’s smart contract, your key is secured and kept private once they have been stored in the contract. It offers ETH/DRG pair only.
In a Nutshell
As you can see Dragon really does have the goal of vastly changing the current casino gaming industry. Now, all we have to do is be patient and see what will happen next, how the price of the tokens will change and so on. We very much hope that this article helped you get a better idea of what is Dragon coin, what is it for and how has it been doing so far.
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