Cryptocredit - know you have a choice #1
BC - life before crypto
I remember in 1998 when I bought my first computer with a dial-up modem. This opened the door to the internet and email. I found an online email service provider and signed up. But it took a few years before swapping email addresses was common.
Now 50% of the total worlds population uses email.
Bitcoin - be your own bank
In 2014 I started looking at bitcoin. At that stage the computer hardware required to mine for coins was already beyond my budget. Most of the bitcoin related websites seemed to involve gambling so i did not take it any further.
When i looked again in 2016 the situation had changed. It was easy to download a bitcoin wallet and buy bitcoin online. I purchased 0.1 BTC and joined the crypto world!
But what could i use my new bitcoin for?
The first place I found was a high yield investment programme. This website was offering unsustainably high returns. After initial gains i lost everything that i invested. Lesson #1 — if it looks to good to be true ….it probably is!
I then discovered crypto exchanges where i could exchange my bitcoin for other coins. I quickly learnt that this was another way to loose money! Lesson #2 — real currency traders trade with other people's money…. So only invest what you can afford to lose.
When one crypto exchange ceased trading leaving me unable to withdraw my funds I learnt another lesson. Lesson #3 — if you don’t hold the private key to your wallet, you don’t own your crypto...so don’t leave your funds parked on an exchange.
All this time I was looking at ways to get more involved in the crypto world.
Mining coins is a way to increase the amount of coins without purchasing them. To mine Bitcoin today requires serious financial outlay in high end computers and graphics cards. I wanted to find something that was low cost and easy to set up.
I then discovered masternode staking.
Masternodes are computers that validate the cryptocurrency transactions on the network.
Rewards are shared between all the masternodes that are connected to the network. To receive a reward requires the masternode owner to hold a minimum quantity of coins in their wallet. This is called staking.
POS or proof of stake is a type of coin generation or mining based on the number of coins held. A reward is paid in proportion to the amount staked.
Imagine if you could run a masternode on your android smartphone or tablet with a minimum stake of only $2… this is possible with Enecuum.
Enecuum: blockchain of tomorrow
Three billion people own smartphones in the world. 87% are running android OS. The most popular activities are messaging and shopping using apps like Facebook Messenger and Amazon.
Mobile payments via Google Pay and Paypal make it easy to buy online, and can also be used to send money to other users.
But there are alternatives to using these centralized apps.
Enecuum is a mobile blockchain that allows every smartphone owner to become part of a decentralized network.
Download the wallet and mining app from the website to help make the network stronger and more reliable.
With a minimum stake of 25ENQ coins you can also earn rewards.
I believe that Enecuum has the potential to grow.
If you would like to join me and support tne Enecuum project please download the Enecuum Masternode app and scan the referral code to get increased returns.
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In the next post I will explain in detail other ways you can be part of the blockchain revolution
