Some years back, you could exchange ten thousand bitcoins for just 2 pizzas. It didn’t have much value at the time. But those who held on to it didn’t regret that decision. The cryptocurrency gradually rose to become the world’s number one coin, making millionaires out of many investors.
Investing in crypto may be risky, but there are rewards too. Previously, people thought the idea of a virtual currency was ridiculous. However, the narrative is changing because if you haven’t traded Bitcoin, Ethereum, or Litecoin, you’re missing out. You can visit https://www.europeanbusinessreview.com/advantages-of-cryptocurrency-all-you-need-to-know/ to learn about the advantages of trading cryptocurrency.
What is Cryptocurrency?
It is a virtual or digital currency that has cryptography security, making it almost impossible to double-spend or create a counterfeit. Most cryptos are decentralized through blockchain, a distributed ledger. No central authority issues cryptocurrency which makes them free from government manipulation or interference.
Furthermore, cryptocurrencies have huge growth potentials and many investors agree that they could also lose value. This is what makes it risky just like other investments. However, it has long-term advantages and financial security.
You can find digital currencies in almost all nations of the world today. It’s not meant for only geeks or savvier merchants but also people who understand how to use it. Most online payment platforms now allow customers to pay from their crypto wallets. So the opportunity to invest in cryptocurrencies is open to everyone.
Apart from the popular Bitcoin, many other cryptocurrencies have sprung up, allowing investors to diversify their portfolios. One of such coins is the PKT cash crypto, which is already attracting a lot of users because of its unique mode of operation.
What is PKT Cash Crypto?
It is a network that allows users to share internet bandwidth and get paid in cryptocurrency. Internet Service Providers sell mobile data at an expensive price and we hardly exhaust the bandwidth. If you are not downloading a lot of files at a time or running very complex applications on your computer, then you likely have more bandwidth than you can use.
As a result, PKT is helping users share unused bandwidth with other internet users. It uses packetcrypt and runs on blockchain technology. Therefore, the network is secure and transparent.
It is quite easy to mine PKT because it doesn’t require huge storage units and high-end computers that emit a lot of heat. Simply mine your bandwidth for other members of the platform to use. Therefore, the process does not require a lot of work compared to other virtual currencies.
There are 2 main mining methods: announcement mining and block mining.
Announcement Mining
The first stage of earning crypto is engaging in announcement mining. You only need to send a small message of about 1 KB over the network. A block miner will receive the message and record it against your details. After the completion of a cycle, a block miner will announce the winners and reward their efforts. Before you get your reward, you must show proof of all the messages you sent.
Block Mining
In this second phase of mining, you need higher equipment and impressive computing skills. A block miner must validate chains and approve payouts for contributing miners in the announcement phase. They also collect messages from announcement miners before compensating them for their performance.
Block miners receive discounts depending on the number of announcements they received. As users continue sending announcements, block miners receive and validate them thereby ensuring the smooth running of the chain as well as payouts for everyone involved.
What Does PKT Network Offer?
You may not fully understand how the network works without looking at the advantages of joining the platform. Below are some advantages of PKT.
Passive Income
Because all you need to do is share your excess bandwidth, the PKT network is an avenue to earn passive income. You can also mine at an announcement level by collecting and making announcements. It is very easy to earn without being actively involved.
Also, the algorithm is easy to understand and the requirements for mining are not outrageous. You do not need a high-speed processor to participate in the basic mining process. The possibility of making huge profits in the future is high as you get rewarded for every second you share your bandwidth.
Although the platform is operating at a tenth of one cent, its value will increase when trading commences. Research shows that over 3 billion coins have been distributed after mining. Hence, the long-term projections look impressive.
Reduced Risk
As with every investment, you must learn how to handle risks. You do not want to invest in a coin that is unsecured and very risky. PKT gives users full control over their transactions. The platform is decentralized thereby reducing the risk of fraud or theft.
Additionally, the algorithm that regulates the network allows miners to see the transactions happening between other users. Hence, there is a high level of transparency. The network also keeps records of all transactions, which discourages hackers from accessing the assets of users. You also do not need to stake cash since your bandwidth can earn you a reward.
No Central Authority
Cryptocurrencies are not controlled by a central figure. Therefore, you can decide to do whatever you want with it. This is a huge advantage as it gives you absolute power over your assets. Since no central authorities are restricting or monitoring your transactions, you can make payments safely and at a cheaper rate.
Platforms like PKT cash are decentralized, but it is not so for every network. Before you invest, ensure the platform is decentralized. You may want to read this article to know how a decentralized payment network works.
Reduced Fees
Another important benefit of the network is a reduction in transaction fees. Since no central authority oversees the transactions, the fees are greatly reduced. This is a catch because traditional payment systems charge so much for both local and international transactions.
