Gulden, (trading symbol NLG) is a nostalgic name for people in the Netherlands since it reminds them of their now defunct currency standard.
The developers behind Gulden, the cryptocurrency, deliberately chose the name because they wanted something immediately familiar to the people and with positive connotations attached to it.
This cryptocurrency began as a fork from litecoin in 2014 and was invited to be the national cryptocurrency of Netherlands.
Its founder, Rijik Plasman was sure that he wanted to create a standard that was not just for the tech savvy but for the common man.
This relatively young cryptocurrency has since gained an impressive amount of merchants (over 50 at last count), is constantly increasing users and has grown in market cap from $400,000 at the beginning of 2016 to over $15 million by mid-October 2016!
The best thing about this growth according to Plasman is that is being fueled by new customers and not just the latest set of cryptocurrency investors looking to make a profit.
The developers make no bones about the fact that Gulden is designed to be used as one wants. Its value is based on demand and supply and is eventually intended to value equal to the Euro. The currency has gained multiples in value over 2015 and is set to better those gains this year again.
Gulden Price Chart
What is driving the growth for Gulden?
Clichéd as it may sound, the growth of Gulden is being driven by a focus on end user features. Its iOS and Android apps are designed to be simpler than conventional payment apps and not just other cryptocurrency wallets. In fact, users can download the Gulden apps and start to use them without any manual whatsoever.
The company also managed to score a big win by forming a strategic partnership with Nocks that allows its users to pay with Gulden wherever bitcoin is being accepted. Nocks essentially converts Gulden into bitcoin instantly and then transfers it to the merchant all without the user ever even knowing that they are using Nocks for this purpose.
Gulden is not ignoring the merchants either and is improving the terminals that are used to accept this currency, ensuring that payments can be made with 0 confirmations so that the user experience is not hampered at all and adding enough users to incentivize the adoption of this currency by more and more merchants.
Gulden is currently being traded at Bittrex, Bleutrade, Nocks.co, and a couple of others. The momentum behind this alt coin/currency/app seems to have gained critical mass and one can expect to hear this name much more often in the future.
written by: dhruvgupta