What Is Byteball Bytes Cryptocurrency?
Byteball Bytes is the native cryptocurrency of the Byteball decentralized database. It however, is not a blockchain platform and does not have blocks or mining. Instead of blocks on blockchain, every new transaction references one or more earlier ones (parents) by including and signing their hashes. All coins are issued to a genesis address from which every full moon users get free Bytes.
How to buy Byteball Bytes Crypto Currency?
1. If you have Bitcoin, you can buy Byteball Bytes with it. If you don’t you need to get that first. The cryptocurrency exchange Coinbase is one very good place where you can do this. It is regulated by a New York bit license and offers its services in 32 countries across the world. The biggest advantage is that you can buy Bitcoin or Ether almost instantly with a credit or debit card, for a commission of 4%. There are also other funding options like bank transfer, which is slower, but also cheaper – 1.5% commission. In some countries you can buy cryptocurrencies on Coinbase with PayPal too.
2. Choose an exchange that offers Byteball Bytes and open an account there. There are a total of four of those: Bittrex, Upbit, Cryptox and Cryptopia. You can only buy Byteball Bytes with Bitcoins.
3. After you have set up your account and went through the client verification procedure, if any, you can transfer your Bitcoins and buy Byteball Bytes with it.
It would be faster and easier to buy Byteball Bytes with a fiat currency, instead of having to open accounts on several exchanges and transfer cryptocurrencies back and forth, but no exchange offers buying of this altcoin for fiat currency.
Once you have your Byteball Bytes, it is best that you move them offline and store them in your own e-wallet. Keeping cryptocurrencies online is quite risky as your account or the exchange where you store them, can be hacked and your funds stolen. If an exchange is robbed, it is entirely up to the good will of the exchange to refund your stolen coins and often it takes a while and can be quite complicated. For the Windows OS you can download the “lite wallet” and for Linux – Electrum.
How to Byteball Bytes Cryptocurrency Conclusion
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