What is Cryptocurrency?
According to the dictionary definition “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank“
Do I need to buy Crypto?
Why does anyone need cryptocurrency? Great questions and the most obvious reason for wanting to hold crypto is as a form of savings programme, its beyond the jurisdiction of Government and Central banking, but also the fact that the currency can be exchanged between individuals without having to pay ridiculous banking fee’s.
Cryptocurrencies are verified via miners using the blockchain, meaning they are immutable and thus far safer than tradition digital currencies.
Many people will have heard of Bitcoin, being the most famous and longest serving cryptocurrency, however there are many 100’s of such coins, many performing different roles. Bitcoin has often been thought of as a store of value, a little like gold or fine artworks etc. As yet, possibly ever ever the mass adoption of Bitcoin has been slow due to transaction times, meaning it can sometimes take many minutes to secure a trading transaction.
One way of securing cryptocurrency is to be part of the process, that is to say to “mine” for it. Mining is part of the authentication process of all Cryptocurrencies.
Why Should You Mine?
How would I go about purchasing some? The first thing to remember is that all crypto needs to have an authentication process that is performed by by specialised computing equipment. In the early days of Bitcoin, people sitting at home on their own P.C. could quite easily mine, now the computers need to be a lot more sophisticated.
Today he best way for individuals to benefit from the crypto boom is to become part of a mining consortium, that is exactly what is offered by beepX Coin.
Mining is the verification of each and every crypto transaction, the miner is paid a tiny amount of crypto, each time they verify a transaction. The most common blockchain is either Bitcoin or Ethereum, and both have benefits and pitfalls
BeepX Coin has it’s own blockchain, actually called a multi chain, as it has more features and is specifically designed for the beep coin (BPC)
Which Cryptocurrency Should I Mine?
Naturally people will choose to mine for whatever coins they wish, however Bitcoin is now by far the hardest coin to actually mine, it may take an individual well over a year to mine 1 bitcoin.
Mining for Ethereum is less time consuming, however the price reflects this and each ETH coin is (currently) valued at far less than a Bitcoin, but the ease of mining reflects this.
BeepX Coin actually mines for beep coins (BPC) and the reason for this is quite simple, BPC is the only cryptocurrency set up specifically designed for use in a retail environment, in other words it is retailer friendly and forms part of the beepXtra cloud based global loyalty programme.
The programme is geared to put crypto right at the heart of the retail environment, meaning the beep coins (BPC) are truly a digital currency and not merely a speculative digital asset, like Bitcoin.
We have 2 BeepXcoins ready to give you just for asking, all you need to do is click the button big button, fill out your details and it will be sorted.