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GoCoin Announces Altcoin Selection Criteria

GoCoin Announces Altcoin Selection Criteria

Today at ICE Totally Gaming GoCoin told the public its top 5 criteria for selecting new altcoins to include on their payment platform. GoCoin is the first international payment solution for processing Bitcoin, Litecoin and Dogecoin at checkout, and plans to scale up its list of supported cryptocurrencies in 2015 to feature more of the popular coins.

“Until now, GoCoin has been proprietary with our internal criteria for adding coins,” said Steve Beauregard, co-founder and CEO of GoCoin. “We just crossed our first year of operations, and are ready to give the altcoin community some helpful insight about the factors that guide our decision-making.”

GoCoin will be announcing its next round of supported coins later in Q1.GoCoin also said that in order to remain fair and objective in its selection process, GoCoin and its management team does not hold any meaningful balances in any altcoin, nor has taken any investment to date in an altcoin.

The selection guidelines are as follows:

1. Market Cap - top 10 on CoinMarketCap

2. Liquidity - trading on two or more reputable exchanges

3. Duration - has been around long enough to establish its value relative to other coins

4. Active community & developer support

5. Sufficient network stability and hashrate distribution to prevent a 51% attack

GoCoin recently achieved 5,500 new merchant sign-ups and is now offering liability accounts in Singapore Dollars, GBP, and Euros with pricing available in 165 currencies. The company greatly exceeded its annual growth projections, initiating over 125,000 transactions and was responsible for 37 percent of all new merchants accepting digital currency in the fourth quarter of 2014.