What is Digibyte?
Digibyte is a king of Cryptocurrency that Jared Tate developed in 2013, and he currently works on the project. It was officially launched in 2014 and in 2017 became the first even altcoin to add Segwit in a Cryptocurrency. DigiAssets was launched in 2017, and finally, in 2020, DigiByte foundation was launched.
- It works on at least five algorithms.
- The decentralisation of mining is well balanced by it.
- It works on the system of Multi-shield technology that enables it to work efficiently by balancing all the algorithm for the DigiByte.
- The ledger size is made compact by using the Segregated Witness Featured Technology and maintains the scalability of the DigiByte.
- The DigiByte configuration consists of three layers that include Application- Public ledger and Communication layerings.
The basic question that arises in the minds of the consumer is that where to buy Digibyte from? This has a simple answer that just like any other Cryptocurrency, Digibytes can be accessed through Paypal, Debit card or Credit Card transactions. But it cannot be accessed directly. One would have to buy first buy Ethereum or Bitcoin and then get Digibyte exchanged with it. As this a bit lengthy process, one should be extremely careful with all the transition in the transactions. Then you have to store your exchanged Digibyte in a secured wallet. The Wallet plays a very important role as whatever you pay and goes through for a tedious transaction is ultimately stored in your wallet, which has to be safe and secured.
How to buy Digibyte?
- One would have to create an account at Coinbase first.
- Start aiming for the bigger currency.
- Buy the first share of Bitcoins or Ethereum.
- Account making is a simple process but very important. One needs to have a real email id and strong passcode to secure your money well. If the credentials are wrong at any point in time, then the Investment becomes difficult.
- They ask you to confirm your credentials and go through whatever you filled thoroughly and make sure all your details are real and true as they ask for one of your Identity proofs to be sure.
- It takes almost two days bt Coinbase to give validity to your account, and they then connect everything to the bank account so that the further procedures and transactions are smoother on your end.
- The first thing you need to do after that is to select a preferable Cryptocurrency and transfer your Bitcoins or Ethereum for the exchange to take place efficiently.
- Then you have to transfer this exchangeable currency to your Coinbase Wallet.
- Numerous Cryptocurrency exchange services are present in the market, which you can access to get your Currency exchanged. But now lies the problem of checking the best, authentic and transparent Cryptocurrency exchange service that makes a good deal.
- There are several good service providers for this purpose itself like Binance, Gate.io and many more.
- Cryptocurrencies that are to be exchanged lies in pair, so you have first to understand this and then make the transaction as to which pair to chose from.
- Once your Cryptocurrency portfolio starts increasing, you need to maintain a wallet for that.
- One has to have a strong and secured wallet to keep Cryptocurrency. These wallets can be installed in the hardware of the device.
- It is commonly known as Crypto Wallet.
- A better way to keep your wallets safe is to keep them always with you on your mobile phones or laptops.
- Even a much safer option lies in the Online Wallet, but you will have to remember the password to keep it safe online.
- The big drawback with saving the wallets in devices is that they do not have extra space for a bigger application to fit in.
- Few hardware secured wallet names include Ledger Nano-X and Trezor Model-T.
Conclusion
With all these points kept in mind, Digibyte stands strong in the Cryptocurrency market and with the development of Digibyte foundation, it becomes a better competition. The statistics would provide better blockchain data to its customers and get to know what is going with their Investment. The company secures Funds and Partnership for the currency and is eagerly growing on a larger scale now. According to a report, Digiubyte was trading at $0.0224 in September 2020, and the Market Capital it made was around $303 million.