DOT | Ecency

DOT; The cryptocurrency on the rise
Most of us have heard of Bitcoin at least once or twice, but DOT, that doesn’t sound familiar. Erssentially it’s the same thing, both are forms of cryptocurrency. This doesn’t mean that they’re the same though. But what’s the exact difference can be rather vague, which is what this article is for. We’ll be explaining what cryptocurrency is in general and what is special about DOT
What is cryptocurrency?
Very simply put cryptocurrency is digital money, or lines of code with monetary value. Just like regular currency cryptocurrency is a medium of exchange. Only the function of cryptocurrency is to exchange digital information created through forms of cryptography. Cryptography is what secures the transactions. Every time a transaction occurs these bits of code get longer or change. The money is obtained through what is known as ‘mining’. You have to encode a piece of cryptography and you’ll get some crypto money in return.
What is DOT?
DOT, or DOT coin, is a form of cryptocurrency as you’d expect. This coin is rated 3.5 stars out of 5, which is good when you compare this to other cryptocurrencies. In essence all cryptocurrencies work the same, but they use different forms of cryptography, and different kind of networks. But just like all other cryptocurrencies you can mine DOT coins and store them in your windows wallet or Linux wallet.
Cryptopia
Cryptopia is the creator of DOT coin, but this website offers much more than just DOT coins. The aim of this website is to make the use of cryptocurrencies available to everyone, and they do quite a good job at this. They have information on almost all the forms of cryptocurrencies that exist. They have a simple-working marketplace where you can sell anything and everything for multiple forms of cryptocurrency. On top of this they have a mineshaft which is a streamlined mining platform for cryptocurrencies, this is where you can retrieve cryptocurrency money. Finally, they have their own cryptocurrency exchange, here you can convert various sorts of cryptocurrency into other cryptocurrencies or dollars. This way you can use mined money to pay your bills, or you can go and spend it on the market place, it’s all up to you
Why you should use DOT coin
A first reason is that you could benefit greatly from buying cryptocurrency with some luck. There are plenty of success stories out there from people who got filthy rich through cryptocurrency. I think that this could be worth a try
Besides, you can send your money anywhere. You won’t have to deal with fees from banks or long waiting time before your money finally arrives. Cryptocurrency you can send anytime to anywhere with it arriving immediately.
Finally, your money is safe as a cryptocurrency, no one can touch it, not even the government. A perfect way to store money in case a bad recession might hit us again.
That was not everything there is to know about cryptocurrency and DOT, but it covered the basics. Hopefully I convinced you that you need DOT in your life. It can help you financially in so many aspects, it will keep your money growing and will protect it from anything. Now it is up to you to extend your research or visit the Cryptopia to learn more about DOT and start mining for yourself.