Nxt Cryptocurrency Review: Pro's and Con's - Coindoo

Nxt Cryptocurrency Review: Pro’s and Con’s

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Apr 22, 2018
2 min reading time
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About Nxt

Nxt is an open-source cryptocurrency and a blockchain-based platform. It was launched in November 2013. The concept was to create a flexible network, around which users can design their own applications. The platform also provides payment services and allows to build new financial services.

The cryptocurrency symbol on the global marketplace remains NXT.

How does the Nxt platform work?

The Nxt cryptocurrency was developed from a new source code. It is scalable and uses a friendly interface to interact with users. Do not confuse it with altcoins, because it wasn’t built as we mentioned above, using other blockchains’ algorithms.

The platform works with Proof-of-Stake (PoS) algorithm. This fact assures users about strong security and reduced chances of attacks. It’s the first platform that used Transparent Forging- a revolutionary technology that allows the use of VISA or Mastercard when realizing transactions.

As we said above, you can use the platform as a payment intermediate. You can even create marketing listing or advanced applications through the Nxt Application program Interface (API).

How to buy NXT?

The platform provides a Nxt Asset Exchange option. This is the suitable way to work with their official tokens. First of all, you will need to buy Bitcoins or Ethereum with fiat currencies using the most popular marketplaces. Then, use the Asset Exchange platform to convert your altcoins into NXT digital tokens.

Also, using the official exchanging platform, you can sell the NXT tokens into global altcoins.

Where can you keep your NXT cryptocurrencies safe?

The platform has designed its own wallet, called NXT Wallet. It’s available both for desktop version (on Mac, Linux and Windows operating system) and mobile devices. To install the application faster, just check on Google Play.

The wallet was designed to become a trustworthy software for your tokens. It has a friendly interface and a supporting team. Your tokens are being strongly secured by cold storage. This allows you to keep the digital currencies offline.

In case you lose your device, you can block your account very fast or access it using another device.

Also, the team also worked on giving you the opportunity to encrypt your wallet with a personal code.

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* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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