What is Lindacoin? LINDA features, specifications & wallet setup guide
There are many ways to earn income from cryptocurrencies. Some of the popular option includes: day trading, mining, bounty programs, airdrops etc. All of these require some skills and involves some work by the end of the day. But do you know that there is one easy method to earn passive income in crypto space? With just few clicks you can start earning passive income and you don’t have to do anything other than monitoring the status once in a while. Yes, you got it. Here we are talking about Proof of Stake and Masternode coins. There are many crypto coins featuring PoS and masternodes. However not all of them offers lucrative returns and in fact most of the coins are just clones and cash grabs.
Back in 2014 Dash invented masternodes and currently there are many popular coins utilizing masternodes technology such as PIVX, Zcoin, SmartCash, GINcoin and among the list there is also a coin named Lindacoin. The Linda project was launched in July 2017 and like every other cryptocurrency Lindacoin hit an all time high price during the early 2018 bull run. Even though the price is not close enough to what we saw an year ago the current daily trade volume of Lindacoin seems good. There is quite an active community behind this coin. Also the masternode community often quotes that Linda coin is undervalued. So is this the top masternode and staking cryptocurrency in 2019? Let’s find out.
Here in this beginners guide let’s see what Lindacoin is? We’ll explain all of the coin features and specifications. Also along with that we’ll share all the useful links and we’ll also show you how to setup Lindacoin wallet.
What is Lindacoin (LINDA)?
Lindacoin is a decentralized, fast, anonymous and secure cryptocurrency. Earlier when the project was launched it was a hybrid PoW / PoS coin. The max supply of the coin was 50 Billion and it was using Scrypt as a Proof of Work algorithm which was only ASIC mineable. But later Lindacoin reduced the maximum coin supply to 30 Billion and also completely transitioned to Proof of Stake. Now it is a peer to peer Proof of Stake cryptocurrency featuring masternodes. The current market cap of this coin is over 5 million USD and has a daily trade volume close to 100k USD which is decent for a low cap altcoin. Alright! But what is this project all about?
Lindacoin is a project that works towards solving crucial problems with the cryptocurrency community. One of the biggest problem is adoption and using crypto in our day to day lives. Linda project tries to solve this by creating utility products that allows Linda coin to be used in everyday scenarios. It also offers partnership opportunities to other projects to use Linda platform. Ultimately Linda coin tries to improve the overall wallet experience and simplify the process of staking & masternodes.
Before we see some of the interesting features of Lindacoin let’s get to know the ground-breaking products which Lindacoin developed.
My Staking Wallet
My Staking Wallet is a product by Lindacoin which was launched on June 2018. It is a multi-currency wallet that is available as a web wallet and is also available for android and IOS mobile users. My Staking wallet is a simple application that provides enormous features. It has high level of security and also supports multiple cryptocurrencies. Since this wallet is focused on simplifying masternodes and staking it only supports those coins that which utilizes PoS and masternodes technology. Following are the list of coins that this wallet currently supports.
Linda, Shard, Electra, USX, ColX, Social Send, Vulcano, Epic, NulleX, Maxcoin, Rapids, Dash, PIVX and QTUM.
This application is user friendly and it makes the process of running masternodes and PoS nodes simpler. One can easily earn rewards and manage their masternodes directly from their mobile app. Plus to run masternodes you don’t have to go through the hassle of setting up server. Also to manage masternodes you don’t require any technical knowledge. The wallet removes all the complicated procedures. In just few minutes and in just a few clicks you are ready to receive passive income from coins which you choose to invest in.
My Node Pool
Similar to My Staking Wallet, My Node Pool is another product by Lindacoin. It is not a wallet but a pool for staking and operating masternodes of Linda and other crypto coins. At current price the value of Linda masternode costs close to $1000. If you are really interested but can’t afford a masternode then My Node Pool is for you. This services allows everyone to be part of Lindacoin masternode. You don’t have to go through the hassle of running VPS and you don’t have to invest any specific amount to run masternodes. It welcomes both big and small investors. It uses the power of combined weight to improve your returns. By working together you’ll receive bigger stakes sooner.
In addition to “My Staking Wallet” and “My Node Pool” there is one another product from Lindacoin called Linda X Network or Linda X platform. It is currently under development and is a token development platform designed for business enterprises.
One of the biggest feature Lindacoin incorporates is masternodes technology which Dash invented originally. Using the power of masternodes Lindacoin brings in so many additional features to its network. Some of the main features of Lindacoin includes:
Lightning fast transactions – Using the masternode network people are able to send Linda instantaneously.
Stealth transactions – Linda provides an option to send transactions encrypted over a secure network or over regular blockchain which gives more security and anonymity.
Hot / Atomic swaps – With this compatibility people are allowed to trade without the hindrance of an exchange.
In addition to the above some of the other features of Lindacoin are multi-wallet support and encrypted messaging system. Also since it operates masternodes; features like governance, treasury system might be introduced to the Linda blockchain in the future.
Since most of the Lindacoin features are powered by masternodes the reward that masternode operators earn is also higher. To operate a masternode you need to hold 2 Million Linda coins. We know its high. The reason why the collateral amount is too high is because the Linda developers wants to make sure that no one abuses the network by setting huge amounts of masternodes.
Alright! Since we’ve covered enough about Lindacoin, its products and its features lets now take a look at its technical specifications and get into wallet setup guide.
Technical Specifications and Links
- Coin Name: Lindacoin
- Ticker: LINDA
- Coin Type: Proof of Stake
- Max Coin Supply: 30,000,000,000 LINDA
- Block Time: 90 Seconds
- Difficulty Algorithm: Dark Gravity Wave
- Masternode Collateral: 2,000,000 LINDA
- Block Reward: 14150 LINDA
- Masternode Reward: 3200 LINDA
- Staking Reward: 50%; Varies depending on Coin weight and age
- Minimum Staking Age: 24 Hours
- Block Reward Halving: Every 15 months
- Maximum Block Size: 4 MB
- Premine: 10%
Blockchain Explorer: https://lindaexplorer.kdhsolutions.co.uk/
Lindacoin Whitepaper: https://lindacoin.com/pdf/Lindacoin_Whitepaper_v2.1.1.pdf
Bitcoin Talk Announcement: https://bitcointalk.org/index.php?topic=5096898
My Staking Wallet: https://mystakingwallet.com/
My Node Pool: https://mynodepool.com/
In addition to Mobile multi coin wallet (My Staking Wallet); Lindacoin also offers desktop wallets which is available for Windows, Mac as well as Linux.
If you are looking for light weight wallet then use mobile wallet which is available on Google Play (for android users) and Apple App Store (for IOS users).
Apple Store: https://itunes.apple.com/us/app/linda-my-staking-wallet/id1404883927?mt=8
Google Play: https://play.google.com/store/apps/details?id=com.mystakingwallet.app
Download the My Staking Wallet app to your mobile and start staking your coins today
if you want more control then we recommend you to download the desktop wallet. There are 2 types of desktop wallet
- Lindacoin Altitude wallet: https://github.com/TheLindaProjectInc/Altitude/releases
- Lindacoin core wallet: https://github.com/TheLindaProjectInc/Linda/releases (Command line wallet)
The Altitude wallet is the wallet of choice for Lindacoin and the other one is command line wallet. For beginners we recommend using Lindacoin Altitude wallet.
Head to the GitHub page and download the appropriate wallet software. Once downloaded run the setup file and complete the wallet installation.
Upon opening the wallet you’ll notice that the wallet has a nice looking interface. Even though it looks quite different than the regular wallet none of the functionalities and features are changed. It is similar to Bitcoin core and to know how to use this wallet we suggest you to go through this beginners guide on core wallet.
Now since you’ve completed the wallet setup you need coins to start staking Linda coins.
Buy / Sell Lindacoin – Exchanges
At the time of writing this article the price of Lindacoin is 8 Satoshis. It is available for trade at the following exchanges. IDAX, Yobit, Coin Exchange, Graviex, C-CEX, BTC-ALPHA, Simple Swap, Bitflip and Nanex. However among this list IDAX seems to have the most volume. Now before you buy Linda here are few thoughts about this project.
There are over 2000 cryptocurrencies and everyday several new altcoins are being launched with better features. Out of this 2000 coins Lindacoin currently ranks at 400 according to CoinMarketCap. Now Lindacoin is a fork of Dash and is an open source peer to peer community coin that uses masternodes to ensure fast and secure transactions. Even though it has developed products like “My Staking Wallet” and “My Node Pool” the real use case and the main focus of Lindacoin seems to be running masternodes and earning staking rewards. There is nothing new about this project as of now and note that there are a lots of cryptocurrencies focused on masternodes.
Also be aware that the developers of this coin had a premine of 10% of total supply. It is actually 5 Billion LINDA coins when the original max supply was capped at 50 Billion coins. When asked the development team stated that the 5 Billion coins was premined by the previous team and they do not have access to the premined coins anymore.
Whatever! One thing what we noticed about this project is that the developers are active and the community is super supportive. If you got any questions or issues in setting up masternodes then seek community help. They will get you sorted immediately. Also Linda has partnered with several big coins and also teamed up with crypto payment network called swirl pay. Could this be a huge potential?
Well first of all the above article is not a financial advice. It is just a beginners guide to understand Lindacoin. Apart from Linda there are many other low cap altcoins with active development which we’ve covered in the past. Not all of them were successful. With that said it’s your responsibility to decide whether the investment will be worth or not. Always do your own research before investing and remember that cryptocurrencies are highly speculative.