NavCoin Review - One of the Most Undervalued and Promising Crypto's?

NavCoin is a proof-of-stake decentralized cryptocurrency that released in 2014. While not as old as Bitcoin or Litecoin, NavCoin can consider itself as being part of the first batch of cryptocurrencies to hit the market. Not only that, but NAV has managed to maintain an active and dedicated development team which has seen it continue to grow and thrive since its inception several years ago.

While as its core NAV is a cryptocurrency, the team have been hard at work on creating a range of dApps and platforms for NAV which not only secure its position as a leading cryptocurrency but also look to advance blockchain technology and its uses-cases,

When it comes to technology, there’s a lot that is going on under the hood to make NAV work. One of the core pieces of tech though that I really like is its use of dual-blockchain technology which gives users the option of sending private transactions which masks the identity of both parties. This is an added feature that has to be selected and by default NAV transactions are not private. It is great nonetheless to have the option to send private transactions if needed and allows for a solid foundation to build upon in the future. This feeds into NavCoin’s fundamental vision which is to make online payments easy, cheap and private when needed.

NavCoin also supports SegWit functionality and has a confirmation time of just 30 seconds which makes it one of the fastest cryptocurrencies on the market. Having sent numerous NAV transactions, whether that is to an exchange or just another wallet, I have always found the transactions to be just as quick as advertised. All of this combined allows users to send NAV anywhere in the world almost instantly and has the potential to really thrive as a payment method. If that wasn’t quick enough though, the NAV team are currently working on implementing lightning network transactions which will allow for instant, cross chain, atomic swaps between NAV and other cryptocurrencies. It’s here where I feel that NAV can really come into its own a push itself as a currency that can be used for paying for goods and services anywhere in the world.

Recently, the NAV team also released its NavPay application; an easy to use wallet which allows users to store their NAV securely. Unlike the main wallet for NAV, NavPay doesn’t require the user to download the blockchain which makes it lightweight and accessible to a wider range of people while maintaining the core features of the main wallet. What really makes NavPay a great application though is that it can be downloaded and used on mobile devices and in your browser, giving you access to your NAV anytime, anywhere. It’s another attempt at trying to make cryptocurrencies easy to access for ordinary people and it definitely succeeds in this area a lot better than a lot of other cryptocurrencies.

While NavPay is definitely the recommended way for casual investors and less-tech savvy users to store their NAV, the core wallet also deserves a mention. The wallet itself is clean, simple and easy to use. While the core wallet does require that the whole blockchain is downloaded, I never ran into any problems when downloading it. Too many times have I had syncing issues with other wallets which have led to frustratingly long download times for the blockchain. With NAV I never encountered any of these issues which was refreshing and ultimately, somewhat surprising based on my previous experiences. If you want to stake your NAV coins to earn more, you can do so from within the wallet. Again, it’s extremely easy to do so and only requires you to go Settings and to unlock your wallet for staking.

A good roadmap that is achievable and realistic is what any keen investor must look at to help them decide whether or not to invest in a project. The NAV roadmap is an ambitious one filled with upcoming features and developments which, if fulfilled, should help NAV assert itself as a top tier cryptocurrency. I’ve already touched upon some of the upcoming features but what stands out the most is Valence, a blockchain application platform being developed by the Nav team which will allow developers ” to easily integrate the best parts of blockchain tech into their websites and apps.” This includes the creation of an App Store and even a Crowdfunding platform. No time frame is given for when this will be released to the public and that’s probably for the best as this looks like a lengthy and time consuming project. However if there is one team that could pull it off I believe it is the NAV team.

The NAV team is a large one but thankfully it isn’t large for the sake of it unlike a number of in-development and upcoming projects. The team is filled with 7 core engineers who actively work on development, that’s in addition to three community engineers. The other members of the team include a Marketing Director, Creative Director, two Digital Strategists and an Operations Manager. There’s a nice balance to the team and it’s great to see a development team that has more developers than those fulfilling other roles. A special mention must go to Craig MacGregor, Chief Engineer of NavCoin who is the driving force behind the project. Not only has he and his team proven to be competent developers they are also good at interacting with the community and explaining themselves.

The crucial factor for any investor is the price and any potential growth it may sustain. What the NAV team has managed to do so far coupled with what they are currently working on, NAV is hugely undervalued at its current price of $1.38, or 0.00014881 BTC per NAV Coin, at the time of publication. Just like every other cryptocurrency, NAV’s price has taken a major hit with the downwards movement of the market. so it’s important to keep in mind the general mood of the market when looking to invest. With that said, NAV hit a USD all-time high of $4.68 on January 13, however it’s BTC all-time high was achieved in September 2017 at 0.00035951 BTC. There’s definitely room for growth here and it wouldn’t be unreasonably to expect the price to double if the market gets a bullrun going.

NAV did not look out of place sitting at around the $5 mark and I’d still consider that as being a good price to buy in at. With a great team behind it, a number of projects in development and a track record of delivering features, NAV has the potential to reach and surpass the $10 price mark at some point in the future. If its current developments come good and it can push its privacy features further, there’s no reason why NAV can’t secure its place as a top crypto.

In my opinion, NAV is one of the most underrated cryptocurrencies out there. This provides for a great buying opportunity although NAV has found it harder to find lift off than some other projects which perhaps don’t offer as much. NAV has a healthy following and community behind it with 12k subscribers to the NAV subreddit and 48k followers on Twitter. However despite that, NAV trails significantly behind other similar cryptocurrencies when it comes to the size of its user base.

If I was a potential investor however, the question would be how long will it take for NAV to see a decent price movement in the right direction and whether or not that fits into my investing strategy. Not only that, but trading volume for NAV is relatively low, especially when compared to where it was a few months ago. NAV is a slow burner that will take time to get to where it wants to be but it has the foundations to fulfil its potential and definitely should not be overlooked.

NAV is here to stay.

** (This article should not be taken as investment advice and is solely the authors own opinion. You must do your own research before any investment.)