Last Updated on 2 months by Shubham Attri
There are many ways to make passive income today. One successful way that is gaining wave among people are cryptocurrencies. These digital currencies are designed to help individuals earn profits. An example of these cryptocurrencies is PKT Cash.
PKT cash is digital money that lets people earn from using the internet. This blockchain gives you an opportunity to gain from unused internet bandwidth. Just like you lease your car or home for money, you share your internet bandwidth with the PKT network and earn from doing so.
Like every other crypto, this digital currency works by using blockchain technology. There are over six billion coins in the PKT mining reserve, so you can be sure of always earning from it. This crypto is decentralized and allows its mining process based on encryption called proof of work (PoW). If you would like to learn more about how proof of work works, you can check at PKT Pal official website for more information.
The sole aim of PKT cash is to ease its users from the burden of the internet service providers (ISP). Most of these corporations do not care about their customers. They would take unused internet bandwidth and require customers to pay them again before gaining access to it. But with this blockchain technology, you can make profit with your unused bandwidth.
To help you fully understand what PKT cash truly is, let us discuss how the mining of this cryptocurrency works, as well as, the pros and cons of investing in this digital money.
Mining Processes Of PKT Cash
The mining steps or processes are simple and easy to carry out. You would need an internet connection and a computer for this. There are two mining steps to follow. They include:
This is the first step or process to follow. In this step, you would post hashtags as messages to the network. The computers connected to the network would carry out the mining process. The messages in form of hashtags would be sent to the next process, block mining.
A successful message from the announcement steps would be sent to the block miners. They would have to collate and validate the messages. They would make sure that they are credible and not fake. The block miners would also have the messages encrypted with the proof of work.
For you to become a block miner, you would need to upgrade your hardware. The block mining is much more complex than the announcement step so it needs higher level hardware to be done efficiently.
How Rewards Work?
Both announcement and block miners are rewarded based on their proof of work. This encrypted data would show who deserves payment or not. They get paid in PKT cash crypto and the more they mine, the more they would keep earning.
Pros Of PKT Cash
The following are some of the pros you would get from investing in this digital currency:
Cryptocurrencies Are The New Gold
While it can never be as invaluable or intrinsic as gold is, its popularity and value is on a steady rise. PKT cash can become one of the most valuable digital currencies in the world. It helps you to earn by using your internet. As noted earlier, you might not use all bandwidth from your internet service provider. This unused data becomes a waste but with PKT, you can make passive income from it.
For now, this decentralized coin is unlisted and unofficial. However, when it becomes official, you can be sure of earning enough revenue from it.
Easy To Mine
You don’t need any special or specific instructions to start mining PKT cash. All you need is a working computer and enough internet bandwidth. You also do not need a specific computer to do this. You can use any computerized device to mine the coins. If you would like to see how to mine this cryptocurrency, watch this video.
It Is Decentralized?
Another pro or advantage of this cryptocurrency is that it has no central body governing it. The process of conducting transactions in other cryptocurrencies is sometimes expensive. But with PKT, transactions are always on the low side. Since there is hardly any organization governing it, you won’t pay much for transacting fees.
It Is Safe?
This digital money also provides a reasonable level of security for users. Transactions that take place in its networks are distributed to different computers. This makes it hard for fraudsters or hackers to find access to the network.
Downsides Of PKT Cash
The following are some downsides of this:
One of the biggest downsides of this is that it is unregulated. Since there are no authorities that govern transactions, whenever there is an issue with a transaction, you would have no one to complain to.
Also, with no organization to enforce the value of the digital currency, it might quickly lose its value. The value of crypto largely depends on its investment community. If all were to lose interest in the coin, the digital currency would become useless overnight.
Cyberattack Of The Network
No matter how secured the network is, there are still some hackers that might gain access to your device and use the processor to mine the digital currency. Since the mining of PKT is done with the internet, it is exposed to cyberattacks. These attacks are known as cryptojacking. It is important that you learn how to be cyber vigilant to avoid this happening.
The PKT cash is a new digital coin in the financial world, but it has so much potential. If you want to make money from your use of the internet, this crypto is the best way to do so.