In 2012, Peercoin was born through the creative mind of a software developer named Mr. Sunny King who wants to show people how to invest in Peercoin. This genius man is also the developer of the Prime coin, a different type of cryptocurrency. Peer coin is considered as one of the established cryptocurrencies.
You may ask, “How to invest in Peercoin?” but it’s as easy as the process you undergo when investing in other cryptocurrencies. Usually, to invest in Peercoin, you should buy a bitcoin first and convert it to Peercoin.
You must have an online wallet first where you can keep your Peercoins. After doing this you can now purchase bitcoins using your credit card, PayPal, and other media. You can also grow the number of your Peercoins through mining and trading. Investors dive into investing in this kind of cryptocurrency because it has a “stable backbone” and a security feature for the protection of the investors’ money.
The Best Alternative
When Peercoin was introduced in the market, a lot of online sellers opened up to investing their money in this cryptocurrency. They asked “how to invest in Peercoin?” and upon knowing the process, they started getting hooked.
Peercoin is unique because aside from having a secure payment system which is heavily and strictly encrypted, its transactions are made faster for its investors. The receiving group or person will not pay anything, and the sender would only spend .01 Peercoin as a fee. It is also safe because, after the transaction, it will leave no trace, because all information is destroyed upon the transaction’s completion
Peercoin is the first kind of cryptocurrency that uses the proof-of-stake algorithm. This process makes sure that no small group of entities or any single entity will be able to own a large part of the network. In Peercoin, there is no chance of market manipulation and centralization done by large stakeholders. It provides equal opportunity to all investors, and its system also ensures that each investor is can mine valuable coins smoothly.
When the investors know what a Peercoin can do and how it differs from other coins, a lot of them sought for the advantages and disadvantages of investing in this kind of cryptocurrency. After knowing how to invest in Peercoin, here are the few things that you should know.
Advantages of Peercoin
1. There are low fees and faster transactions that can happen between online sellers and investors.
2. It has Proof of Stake Algorithm and Proof of work system which ensures smoother mining.
3. Investors are protected from inflation due to its standard inflation rate.
4. It is safe to invest in Peercoin because it has a centralized market which prevents manipulation and a decentralized network that it is invincible to hackers.
Disadvantages of Peercoin
1. It has a low return of investment and has a possibility of having a small return for a short-term high-value investment.
2. Peercoin does lack anonymity, as compared to bitcoin that has 100% anonymity which makes people love it.
Cryptocurrencies prove that every internet user has the right to receive money, send money and spend money through the use of technology. The control of coins gives a better-secured place for investors. It is much better to use Peercoin because you know that you are well secured while doing some financial transactions. With all of these being said, you don’t have to ask any more on how to invest in Peercoin.