The Creditbit is the currency issued by the Credit 2 platform. The currency is supported on the blockchain and has been operating since the beginning of 2017. The open source environment and regular upgrades makes the Creditbit one of the more eagerly watched online currencies. The Creditbit environment offers a strong community, gaming, profile creation, and other features.
The Credit 2 plan is coming to fruition, but there are several milestones ahead. This means that users can look forward to new developments and improvements down the line. The mining is based on proof of trust. One of the unique features is that the currency works with different wallets. This allows users plenty of choice in regard to how they want to transact online, store coins, or built credit.
The coins can be easily added to the wallet or sent to another user. Transactions are based off smart contracts. Users would need to pay some coins as fee, for every transaction. Users earn bonus on the coins in their wallet. Before they can get to earn the bonus, they need to indicate how many coins they are setting aside for the interest generation, through a process called locking. Depending on how long the tokens are locked, the interest ranges from 1% to 12% annually. The locking period can be as short as 30 days, to go to two years. Users may lock in the currency for longer, but since locking makes the currency unavailable to users in the interim, it is important to think about whether you will need the coins in the near future.
Another way to earn rewards is through the CreditGame. This allows users to compete with each other in online games, and earn coins as reward. Before participation, they need to lock some of their coins for a finite time. The interest earned on the locked coins of both players is offered to the winner of the game. For those who love to play games online and are sure of their skills, this is an added, exciting way to earn rewards on their coins.
The Creditbond reward, earned as interest on the coins, is one of the major reasons for choosing this currency. Users would need to be aware that the locked coins cannot be exchanged during this period. However, the interest will keep coming to the user. The Creditbit is supported on many exchanges, such as Bittrex and Livecoin. Users may purchase coins using bitcoins or ETH coins. There are 16 million coins available, through mining or exchange.
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