The crypto market is experiencing a slump right now. Nonetheless, some people see this as an opportunity to enrich their portfolios with new assets. DGB coin has become a favorite among other crypto coins in the market. It is necessary to understand the company's in and out as well as its market before investing, though.
Getting to Know Digibyte
This coin is a part of DigiByte Blockchain. It was initiated by founder Jared Tate in 2013 before being launched to the public in 2014. Its main objective is to create an innovative blockchain.
DigiByte Blockchain allows users to secure assets, not only the ones in digital form but also assets in the physical world. These assets will be protected by smart contracts that monitor them in a transparent environment. This product is named DigiAssets by the blockchain.
Here are some things that DigiByte Blockchain does better than other blockchains currently operating in the crypto community:
1. True decentralization
It was not funded with significant coins that have been premined. There are no company leaders that control the blockchain. Developers, founders, and the community serve as unpaid volunteers to prevent the blockchain from leading to bankruptcy.
2. High level of security
The blockchain cares about the security of its users and employs several advanced security systems, including MultiAlgo mining and DigiShield guard. There is also a privacy protocol that can hide a user's physical location and IP.
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3. Faster transaction
Transactions in the DigiByte Blockchain are faster than more established crypto coins in the market, with 15 seconds needed per transaction. It is even recorded to be 40 times faster than Bitcoin. It is due to its SegWit technology with a very low fee that enables it to be a daily payment method.
4. Coming up with the first innovations
The blockchain continuously tries to come up with new ways to improve its system. Unlike many more "conservative" blockchains, it will test new technologies that can improve user satisfaction. This outlook makes the blockchain very adaptable to the development in the blockchain market.
Value of DGB Coin
The maximum supply for DigiByte's coin is 21 billion. Currently, the circulating coin is at 15.49 billion, or equal to 74% of the maximum amount. With a value of US$ 0.009266 per unit, the expected market cap for the cryptocurrency is US$ 143,431,185. Meanwhile, the fully diluted cap is at US$ 194,478,985.
When the coin was launched in 2014, the value was very low until the second half of 2017. It then started to rise quite significantly, perhaps due to the rising popularity of the crypto market among investors around the globe. As for now, the all-time high value for this coin is US$ 0.1571. It happened on May 2, 2021.
How to Obtain the Crypto Coin?
How can you obtain a DGB coin? This cryptocurrency can be found in several crypto exchange markets, including:
There are definitely other markets that offer DigiByte Coin trading. You can find the whole list in CoinMarketCap. You only need to click the link to the trading market that you want, and it will bring you to the transaction place.
It is necessary to know that every exchange market has its own regulation. The regulation encompasses the currency used to trade with the coin. For example, if you are new to crypto coin trading, then Coinfield might be a good choice as you can use real money currencies to obtain the coin.
Future Projection of Digibyte Blockchain
The future prediction of the market can determine whether the DGB coin is worthy of investment. In a 2021 interview, founder Tate estimated that in 2022 its value would range between US$ 1 to US$ 10. This is a very significant price difference. Additionally, people are skeptical because there is yet to be clear data to back up that claim.
Seeing the current financial situation, it is likely that the growth will not be as significant as the previous prediction. By the end of 2022, DigiBytes coin may grow to US$ 0.040 per unit. In a worse case, the value might be closer to US$ 0.0327 per unit.
The inflation that hits the global population is responsible for the slow growth of the crypto market. Many currencies in the crypto market even experience bear markets or periods of constant value reduction. Investors become less likely to invest in new crypto products because they fear that the investment will be wasted.
Some crypto companies even declared failures in the past few months. If Digibyte cannot adapt to this economic climate, then it will have a hard time remaining in the crypto market.
The best way for it to survive is to hold a rally to boost its value. It can be through collaborations with potential parties. This method will bring investors in, which will lead to a significant boost in market value. It remains to be seen how the DigiByte officials will go from this situation and whether they will make it work.
Investing, Yes or No?
Without a doubt, DigiByte's native token has tremendous potential in the crypto market. Due to its innovative approach to blockchain, the crypto coin is highly secure and can be used to conduct fast transactions. However, compared to major cryptocurrencies, it is still relatively unknown.
One thing that it needs is support from government bodies worldwide. As we know, some countries have started to design regulations for crypto products. It is done not only to protect consumers but also the currency itself. The regulated crypto market will ensure that it will not face volatility as we commonly see today.
We know that DigiByte's token has the potential for daily transactions, just like traditional currencies. If the government can adopt this system into its finance, then we will see significant growth in its market. It will be due to more people supporting this ecosystem.
The decision to invest in the DGB coin is still in the consumer's hands, though. If you believe in its potential, then this will be a great time to start investing in it. However, if you do not think that it is a great investment, then let this chance pass.