POA is a decentralized EVM-compatible open source platform. It is designed to eliminate key disadvantages of the blockchain, such as scalability and security. To solve these tasks, POA uses its own Proof of Authority consensus algorithm. Thanks to this consensus, transactions on the network occur extremely fast and with low fees.
What is POA (POA)?
The POA cryptocurrency is a decentralized open source digital currency. The POA Network is based on the Ethereum protocol. The main goal of the platform is to develop decentralized applications (DApps) and smart contracts. The project aims to eliminate the scalability and security problems of the Ethereum network.
The blockchain uses its own Proof of Authority consensus algorithm to ensure the security of the network. The essence of this algorithm is that when adding new blocks, you need confirmation from the network validators. POA validators are public and independent users, notaries of the USA, who signed a legal agreement with the network. Thanks to the POA blockchain, organizations can build their own networks, as well as deploy decentralized applications. The POA blockchain provides organizations and developers with fast transactions (blocks are generated every 5 seconds) along with low fees. In addition, POA is a fully EVM-compatible blockchain that uses horizontal scalability. This allows you to create multiple POA networks and connect them with bridges, which increases bandwidth and performance.
Why should I exchange POA?
POA is quite promising project and there are a number of reasons to exchange POA:
- The more projects will be implemented on the basis of this blockchain, the higher the POA quotes will be. So now there is an opportunity to buy the dip.
- The project solves such topical issues as scalability, security, and increasing bandwidth.
- You can use some trading strategies, for example, arbitrage, scalping, and holding. The cost of POA is relatively low, so if you suffer losses, they will not greatly affect your wallet.
At the time of writing the review (July 25, 2021), the cost of POA is $0.02477, with a market capitalization of $7,180,937. The highest POA price of $0.9525 was recorded on May 10, 2018. The minimum price was marked on March 13, 2020 when one POA coin was worth $0.004248. This coin showed excellent growth at the beginning of the project launch, but then the price dropped significantly.
Where to trade POA?
The main advantage of cryptocurrencies is that you can sell and buy coins 24/7. POA is represented on the most leading crypto exchanges, as well as brokers. You need to choose the platform that meets your needs. The best places to trade POA are:
- Binance – provides a fixed fee for trading operations in the amount of 0.1% of each transaction.
- HitBTC – uses a multi-level system for calculating trade duties, the more the user trades, the lower his fee will be.
POA Exchange
Where to exchange POA?
There is a huge selection of exchange platforms on the cryptocurrency market, each of which seeks to improve the exchange service and surpass its competitor. POA is a new crypto asset, so it can only be safely exchanged on exchanges or brokers. Let’s look at the advantages and disadvantages of each of them:
Exchange:
| Advantages | Disadvantages |
| Many assets to exchange | Complex interface |
| There are no additional fees for the operation of the service | Limited choice of pairs to exchange |
| The major ones provide a wallet for storage |
Broker:
| Advantages | Disadvantages |
| Suitable for beginners | Additional fee for the services |
| Wide variety of exchange pairs | |
| No security issues |
In addition to HitBTC (POA/BTC, POA/ETH, POA/USDT, POA/DAI) and Binance (POA/BTC), you can exchange POA on such exchanges as:
- Bankor Network – a decentralized blockchain protocol that allows you to directly convert cryptocurrencies among themselves. The exchange direction is POA 20/BNT.
- Coin DCX – a simple and intuitive interface with a wide range of cryptocurrencies, and fast transactions. You can exchange POA with BTC.
What to know before exchanging POA?
Before you jump into the swap pool with your head, consider the following steps that will be able to save your funds:
- Use the monitoring of crypto exchangers.
- Compare the fees of various services and platforms.
- Do not forget to carefully enter the wallet address.
How to buy POA?
Unfortunately, it is not yet possible to buy POA coins directly using fiat currency. In order to add POA to your crypto portfolio, you will first need to purchase BTC for a fiat currency, and then exchange BTC for POA. This can be done on a variety of platforms, for example, using the ChangeNow or CoinGate fiat gateways. You can use the services of the exchanges listed above to exchange BTC/POA.
Instruction on buying POA
Buying POA for the first time might a bit complicated for a beginner. That is why we have composed a step-by-step instruction so that you could buy POA without any problems:
Step 1. Sign up to a service providing trading or exchanging
Step 2. Deposit your account with BTC or ETH
Step 3. Find POA/BTC or POA/ETH trading pair
Step 4. Enter the necessary sum
Step 5. Confirm the transaction
What is the best time to buy POA
According to the most analytical reviews, the best time to buy POA is now. Thought the price fluctuations might occur from time to time, the general trend is upwards.
However it is only up to you to decide, while the information above should not be mentioned as a financial advice.
How to sell POA
Selling POA does not differ much from buying it, however, to avoid mistakes follow this instruction to sell POA:
Step 1. Login the exchange platform you use
Step 2. Find POA/BTC or POA/ETH trading pair
Step 3. Enter the necessary sum
Step 4. Confirm the operation
Step 5. Exchange BTC or ETH to fiat (Optional)
POA token use cases
The following use cases of the POA token are indicated on the official website of the project:
- Utility token. It is used as a payment within the network.
- Currency token. Traditional use as a means of payment, investment, and so on.
- Collateral token. It is used if you want to borrow cryptocurrency.
- Stacking token. You can earn money on POA stacking by bridging the token to a sidechain that supports Proof of Stake.
FAQ
Is POA a good investment?
If the POA team adheres to its roadmap, the quotes may increase again in the future. So now you can buy the dip. The project solves topical issues and the more platforms will work on the POA blockchain, the higher the value of the asset itself will be.
How do I invest in POA?
You should minimize your risks. In terms of investment – it is the distribution of funds in various directions. To purchase, withdraw funds from the wallet to your account, select the POA for the purchase, set the amount, click the buy button.
How to trade POA for beginners?
When choosing a cryptocurrency for investment, you should not focus on the current exchange rate. A cheap coin is able to demonstrate impressive growth in a short period of time. Select a trading platform, log in to your account, select a POA for sale or purchase, enter the amount.
What is POA Blockchain?
POA Network is an EVM blockchain for the development of DApps (decentralized applications) and smart contracts. The main task of the project is to improve the scaling of the network, due to its own Proof of Authority consensus algorithm.