A Beginner’s Guide To PKT Cash Network Crypto
Passive income has become a well-known term in the business industry. It talks about earning money in the most passive way (read more), aka you make money by doing nothing at all. Many entrepreneurs and business owners take this part of their income seriously, as it is the most important structure that will give them the biggest profit. Passive income can come in the form of residual profit, real estate (residential and commercial), and, surprisingly, cryptocurrency.
Physical assets have been the traditional way of passive income. However, as technology moves forward, so do industries and companies. Some are paid by sharing their computer’s memory and processing capacity. Others gain a buck for each person they share their internet speed with.
It’s incredible to many that it’s almost impossible to comprehend. However, many people have already profited from this, and so can you.
The biggest question for every newbie reading this might be as simple as, what am I working with? You’re working with cryptocurrency, or digital money, as many opt to call it. It is used in many online trading and has recently gained traction with mainstream payment as well. It works with a developed technology called blockchain, a system that safeguards your online transactions and encrypts them, so it becomes impossible to lose or steal your data unless your virtual keys get compromised.
Because of this, many businessmen tend to use cryptocurrency when making trades and doing transactions. It is 100% safer for them than handling physical money and moving it from one location to another, where it is likely to get stolen.
As of today, there are thousands of different cryptocurrencies, some of the more popular ones being bitcoin, litecoin, and dogecoin. Think of them as currencies from different countries, only instead of countries, they’re made by one or a group of individuals.
PKT coin is another cryptocurrency in the pool of virtual money. It follows the code bitcoin uses and also mimics its microtransaction categories. It’s cheap in value and fast in terms of trading, making it favorable for many users with a more minor transaction.
However, there is a more widespread use for this coin. PKT is often traded for internet bandwidth (link: https://www.lifewire.com/what-is-bandwidth-2625809#why-bandwidth-is-important-to-understand) and used by the PKT blockchain crypto. Usually, we pay our ISPs for additional internet bandwidth that we end up not using. This crypto blockchain is willing to pay you cryptocurrency if you allow yourself to share your extra bandwidth with their network.
Currently, PKT has 6 million coins reserved for mining, spread for about 60 years. That means this currency isn’t going to disappear anytime soon. On top of that, its PoW is Packeycrypt, allowing the bandwidth to be spread evenly throughout the network.
If you are looking to get your hands on this coin, there is one traditional way to do it. It’s to mine PKT through purchasing hardware that enables you to mine it from your computer. If you’re still thinking of reasons to mine PKT, here are some possible benefits that might convince you.
- Central Authority Is No Longer Needed
What does it mean to have a central authority? Having a central authority in cryptocurrency means there is no power in your hands despite owning the said currency. Its value and economic sway rely heavily on the central point it originated from or authorized with. With decentralized cryptos, such as bitcoin, and in the same logic, PKT as well, it is the exact opposite. Its value relies heavily upon usual economic factors rooting in the activity of its network.
In other words, PKT is decentralized and determines its value through the supply and demand of its users. The power is in your hands. However, take note that only a number of these currencies are actually decentralized, so be sure to check with your other investments if you ever want to focus on decentralized assets.
This is the main reason people go nuts with decentralized cryptocurrency. It’s not every day that you get to decide what you wish to happen with your assets, especially with traditional ones.
- Fewer Risks
This item ties closely with the first one, as risks are often had with centralized authorities. You’ll be sure to feel safe with your assets when their fate is placed directly upon your own shoulder. And with the transparent nature of the blockchain, where everyone can view transactions, it becomes a big discouragement for those looking to hack or compromise your currency. The same thing can’t be said for those with centralized crypto.
- Lesser Fees
When you’re working with central authorities, there are specific fees you need to pay. This is a big deal for many users who wanted to save big money in using cryptocurrency. However, if we remove Central authority from the solution, you’ll end up with reduced fees from processing and transactions. This is possible if you use decentralized coins, which allow you certain freedom from bigger dues.
- You’re Getting More Than Your Money’s Worth
Everyone has internet nowadays, and usually, these clients pay for more than they’re using, including bandwidth. ISPs provide you with considerably faster speed. Thus bandwidth becomes a small matter that almost always gets overlooked. Instead of wasting your cash every month paying the bills for something you barely used, why not turn your excess bandwidth into cash instead?
Through mining PKT coins in the internet bandwidth, you can pay back your bills ten times over. You can Mine on your own or with a group, the latter being a better choice than the former due to a lot of factors playing in (power consumption, buying more powerful processors, etc.)
Should I Immerse In PKT Crypto?
At the end of the day, you (the user) will have the final say. Though PKT is somewhat juvenile compared to bitcoin and other long-standing virtual currencies, it is brimming with potential and benefits that can only be enjoyed in full if you join early on. It’s a risk you should be willing to take, but when you think about it, what isn’t a risk these days?