What is belacoin token: More information about belacoin, a token that let image creators earn from their image likes

What is belacoin token: More information about belacoin, a token that let image creators earn from their image likes

By quintomudigo | Crypto Street | 24 Jul 2019


bela.png

Belacoin is a token created on Ethereum Blockchain whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Belacoin was created to tip Image creators for their creative work on the Bela platform. Unlike Image sharing sites like Instagram where a certain image might end up having huge likes but at the end of the day, those likes are not considered as income. In Bela platform, for every like you receive based on the popularity of your image, you earn Belacoin. Those likes are being considered as tips based on Belacoin. Therefore, since Belacoin is created on Ethereum Blockchain, it can not be considered as a cryptocurrency but can only be considered as a security token. In the near future when Belacoin is transferred to its own blockchain, that is when it will become a cryptocurrency.   To join the belacam platform and start sharing your image if you are an image creator, follow the link below;

https://www.belacam.com

  
Belacoin transaction

Belacoin transaction takes place on the Ethereum blockchain Explorer since there is where the token is being issued based on blocks height and timestamp. To view how Belacoin transaction takes place on the Ethereum blockchain explorer, simply follow the link below;  

https://etherscan.io/token/0x2e98a6804e4b6c832ed0ca876a943abd3400b224        

Date Launched

Belacoin was created in 2014 with the main objective of allowing image creators to earn Belacoin for every like their image receive. The belacam platform was launched in 2016. Since then, the developers have really worked so hard to bring the platform to the public the way it is supposed to be.

Founder Of belacoin cryptocurrency

Belacoin was cofounded by Ambiafund company which is backed by the founder of forex.com broker company. Currently, there are several cofounders sitting as board members. Some of them include; Mark Galant who is the founder of forex.com, Tyler Marx who serves as current CEO, Tanner Roughton who is a college dropout and serves as the COO.  

Process of creating Tronix cryptocurrency

Unlike cryptocurrencies like bitcoin and ether which are created as a proof of work through the mining process in the presence of internet and power, for bela, that is not the case. Instead, most of it were created during its launching stage as a token on the Ethereum blockchain network. The remaining belacoin will be released through staking rewarding until the maximum cap has been reached.     

Maximum circulation of belacoin

The maximum supply of belacoin that is expected to be circulating on its smart contract address issued on Ethereum blockchain should be 54,750,000 coin when all coins are released through staking reward. 

    belacoin Price

Currently, 1 belacoin is worth more than $0.011 and its price is expected to increase over the next period of time. Belacoin is being abbreviated as BELA.  

Converting my Belacoin to other cryptocurrencies

To convert your belacoin to other cryptocurrencies such as bitcoin and ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your belacoin to bitcoin or ethereum.   https://mercatox.com/?referrer=31442  

Storing my Belacoin

To store your belacoin, you need to have an Ethereum address supporting ERC-20. You can use meta mask or my ether wallet. Never store your ERC-20 in exchange unless you are trading them. Never use an exchange Ethereum address to receive your belacoin cause you will never receive them because those addresses do not support ERC-20.  

Transferring my Belacoin to other Users

If you want to transfer your Belacoin to another user, the two of you must have trust in each other. The trust should be the belacoin address provided for the receiver while the sender must have the belacoin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated.Here is how it looks like;

  BELA SENDER.png

 

BELA RECEIVER.png    

Knowing more About belacoin

If you feel that you need to learn more about belacoin cryptocurrency, then you can follow them on their site. Here is the link redirecting you to Belacoin website   

 https://livebela.com/  

Now that you know, i think that it is time for you to start earning some belacoin by  purchasing them and staking them or posting your photo work in belacam platform and receiving belacoin when the photo receive some likes. If you feel that i should also own some for helping you to know more about this cryptocurrency, here is my belacoin address ;  

0x829a03ca847DD1Cbf1E4fc102337787B2e28800c  


quintomudigo
quintomudigo

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Teacher Forex School.


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