RubyCoin is a democratic form of digital currency that can be created and held in electronic form. The cryptocurrency can be used for securing and transferring value across the globe instantly, across borders without any limits. The coin is not controlled or managed by any bank, government, or company. The currency makes use of blockchain technology. The coins are created and run without any one controlling it.
Every user with a RubyCoin qualified for occasional stake rewards from the network. This is in return for their participation. Any user can save and exchange value and in a very transparent manner too. Also, this is done without the influence of any central authority. Anyone with a RubyCoin wallet gets to play a key part in processing transactions on this peer-to-peer and decentralized network. Participants can earn interest while users can stay in absolute full control of their money.
RubyCoin must first be purchased on Bittrex using Bitcoin. It is also important to download the wallet associated with the currency. The next step is to withdraw RubyCoin from the exchange to the wallet and ensure that it is kept running optimally. The staking must be done within the estimated time provided. A stake is rewarded every 90 seconds to a wallet with some balance. Frequent stakes are allotted to wallets with heavy balances. However, all participants are assured of at least five percent of their balance every year.
Fast transactions are guaranteed with RubyCoin. Users can send money anywhere and the same will be processed by the network and sent in the quickest time possible. The global payment system does not recognize any geographical borders. Also, no limits are imposed. Users are always in absolute control over their money. A key benefit of this platform is that the currency is eco-friendly.
The network can be kept running and secure even by using a small amount of energy. Users can also enjoy favorable economic conditions on this decentralized platform, thanks to the decreasing rate of inflation. Personal identification information is kept secure and private as RubyCoin addresses are not connected to names and addresses.
The total circulating supply of RBY, the currency associated with RubyCoin is 25, 096,062. The coin has a market cap of $25,757,093 and there are $171,401 worth RBY coins traded daily on an average. The value of the coin is $1.03.
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