Beginner’s Guide To PKT Cryptocurrency

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Cryptocurrency is a fascinating world; yet only a few people really grasp its gist.  In its essence, it is a digital asset that is accepted as a secure method of payment which allows users to buy certain goods or services online or trade them at a profit.  It is not actual or real money and does therefore not physically ‘exist’ and is entirely transacted online, or virtually.

Guide To PKT Cryptocurrency

Beginner’s Guide To PKT Cryptocurrency

There are currently more than 6,700 different types of public cryptocurrencies available, of which Bitcoin and Ethereum capitalize the largest portion of the market.  You can learn to understand cryptocurrencies better by reading this: https://www.investopedia.com/terms/c/cryptocurrency.asp.   

How Does Cryptocurrency Work?

Cryptocurrencies are gaining more and more popularity, as supporters view it as the legal tender of the future.  For example, once news spread that Elon Musk made billions of US Dollars through Bitcoin – the most popular cryptocurrency – more people are racing to buy some before it gains even more value.  It also bypasses the central banks from having control over your money and decreasing its value through inflation.  Most users value the complete privacy of the transactions.

However, cryptocurrencies need some stability in order for traders to decide on a fair price for the goods, and Bitcoin – as well as others– has proven to be quite unstable.

Cryptocurrency operates through a specific decentralized technology, called blockchain, which is spread among several secure computers that control, manage and record clients’ dealings.  PKT Blockchain makes use of decentralized processing methods that are also much more secure than outdated payment systems.

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What Is PKT Cryptocurrency?

This is quite a complex term to explain to the beginner, but once you grasp the concept it will be smooth sailing from there. PKT refers to Playkey cryptocurrency tokens that operate on the Ethereum platform.  It is the first dispersed gaming platform on which everyone can make a profit.  It was founded on 1 November 2017, and aimed to shift the gaming world from physical computer or console games onto the cloud.  Gamers are provided with a platform from where they can enter and play the top latest released games for cheaper on the cloud.

Around 19,893,267.575 tokens have been mined up to date, with 14,057,987.901 in circulation – trading on 4 different active markets at a current price of $0.034113 USD.  Although it might be gaining popularity, there are still several challenges, as gaming developers are still hesitant to host their games on a cloud platform.

Beginner’s Guide To PKT Cryptocurrency

How Do I Buy PKT Cryptocurrency?

PKT cryptocurrency can’t be directly purchased with cash, and in order to buy any cryptocurrencies, clients will first need an online ‘wallet’ to hold their currency.  Once they have created an online exchange account, for example Binance, they can transfer real money to buy cryptocurrencies, such as Bitcoin or Ethereum.  By using credit or debit cards for purchases, buyers will enjoy the benefits of paying lower fees, faster delivery speed and improved convenience.

Once buyers own Bitcoin or Ethereum, they can trade it for the preferred amount of PKT.  There is a maximum total of 100,00,000 PKT available in the world – based on mining efforts – which implies that buying PKT is somewhat time-sensitive.  In theory, all coins could be sold out at some point in the future.

When buyers want their money back, they can simply sell their PKT or trade it back for Bitcoin or Ethereum.  For more on how to start crypto trading, read this.

The Future Of PKT Cryptocurrency

All cryptocurrency transactions are safe, as they take place on databases with a strong cryptography.  This ensures verification of coin ownership and controls the manufacturing of additional coins.  A Playkey Ecosystem for cloud gaming is planned, and involves the following:

  • creating a single PKT token;
  • having potent and individually-owned computers around the world;
  • developing a committee that will be responsible for enforcing rules relating to cloud gaming; and
  • providing a unified and top quality gaming service.

Besides having the potential to be a good investment, PKT cryptocurrency may also reduce costs for all people in the gaming domain.  It will benefit the environment as well, since cloud gaming will reduce the production of old-fashioned computers or consoles, and therefore reduce the release of harmful chemicals.