With the world recovering from a pandemic, one thing is sure; there are many money-making opportunities lurking around the corner. But which one would be worth trying out this year? And if you have been following closely with cryptocurrencies, you would agree that that could be an excellent option to try this period. But which coins are worth investing in, and how can you find them to buy? I have taken time to provide analysis on the PKT CASH cryptocurrency, and you can check below for all there is to know.
What is PKT CASH Cryptocurrency
Just like any other crypto, the PKT CASH is a digital asset that has an ultimate function. And for PKT, the aim is to help you share bandwidths you do not need with others who might need it. The company pays you in crypto when you share your bandwidths from your internet service provider.
The system is decentralized and operates on the Proof of Work (PoW) ideology. A total of 6 million coins have been reserved to be mined for the next 63 years. There is more information regarding the currency’s technical aspect in the Crypto PKT Cash whitepaper, so you may want to check it out to learn more.
How to Mine PKT CASH Cryptocurrency
Like any other coin in the market, they would have to be mined to make them available to the general public. And for the PKT CASH, mining is going to be for another 60 years or more. Also, no more than 6 million coins would be mined during this time.
Mining PKT starts as a hashtag message sent as an announcement across the network. After some announcements have been successfully mined, they are now ready for the next stage. This stage begins when the announcements are received by the other participant in the network, referred to as the block miner. Anyone can start with the hashtag message, but you will need to have the latest hardware to succeed at this level of PKT mining.
The role of the block miners is to collect and validate data from the announcements. And as such requires a great deal of computation to achieve this. The announcement validated is then converted into a PacketCrypt Proof (PCP). The job of a block miner is highly competitive.
This is due to the fact that announcements have to be collected in order to make PCP, which is like the final stage of reward. And once it checks out, both the announcer and miner get a compensation. You can find here https://www.thebalance.com/can-bitcoin-mining-make-a-profit-4157922 a detailed explanation about cryptocurrency mining.
Why you Should Mine PKT CASH Cryptocurrency?
With the coin still at the early stages, you’ll agree that now is a good time to mine them ready for when they reach the open exchanges. At the moment, the coin value is a new one-tenth of a cent, and this could be a good point for a new coin yet to go mainstream. Although you want to get to the block miner stage to rake in big, there is no saying how it will perform when listed. So there is no harm in trying.
In the early days of bitcoin mining, there were many uncertainties as it was the first of its kind, and people weren’t sure it was going anywhere. While their action was justified as they were swimming in strange waters, a lot has changed over the years. Bitcoin has appreciated tens of thousands percentage, making a good investment for the early birds.
Not only bitcoin, but others too, such as ethereum, Stellar, LITECOIN, and Binance Coin, have also recorded success over the years. So there is a lot of hope for PKT CASH and other newer entrants in the market.
With the coin targeting bandwidths and ISPs, an industry that is not fully tapped in by other crypto developers, there are good chances this one will reach the promised land. But you should be ready for the long haul if you want to reap big.
Is Cryptocurrency a Safe Investment
For newbies looking to get started with crypto, one of the main issues is how safe the model is. People can understand the idea of investing in forex or financial assets such as gold and crude oil. But for a currency that you can’t feel or touch, you will agree it can be difficult selling it as an investment option.
Still, there is no doubt that it could be a quality investment option for savvy investors. The word here is smart. And this means that you have to be well informed about the risk factors involved. If you are not sure about new coins such as PKT, you can play it safe and go with other already established options.
Bitcoin, for one, is quite expensive now to buy a whole coin, but you can find it for sale in bits. Some companies trade the coin to the public, so you can buy $100 or $1000 worth as the case may be. Hold it for a little while, and sell it when the price appreciates. You can find more here about bitcoins.
Another option would be to trade it against other currency pairings in the open market. You want to have experience with day trading or work with an experienced professional to prevent losses.
There are many cryptocurrencies been introduced regularly into the market, and PKT CASH aims to provide a coin dedicated to internet service providers to trade bandwidths. You want to check the whitepaper out to find out more about it.