All You Need To Know About Diamond

All You Need To Know About Diamond

Diamond ( DMD ) is an easy way of sending or receiving money, minus the cost related with physical banks. It is fast, safe, secure and reliable, and i

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Diamond ( DMD ) is an easy way of sending or receiving money, minus the cost related with physical banks. It is fast, safe, secure and reliable, and is slowly getting recognized as a viable cryptocurrency.

Brief specifications

– It runs on the ASCI resistant Grostl algorithm.
– Has over 438 million coins released till date.
– A very low transaction fee of a mere 0.0001 coin.
– Requires 6 different confirmations to make the transaction fast and secure.
– Sends the user a message for every completed transaction.

Mining

The currency allows its users to create a mining pool. This prevents the user from having to wait a very long duration, sometimes in days, to generate a network support reward. Such mining pool could be accessed by a group of users, which in turn could share amongst themselves the DMD’s so generated under such a grouping.

The Muli-mining tool helps the users mine for DMD’ on multiple locations, this increases the chances of achieving a higher return in the form of diamonds. Towards the end of the month, the company also doles out hefty rewards to its user base, that may be the release of many DMD’s at a go.

Diamond could be bought online as well as offline, it depends on the preference of the user. Though, the most preferred way extensively used by the buyers is trading their DMD online, under a due process of bidding and counterbidding. This is done to avail the best possible price that a User may garner for any amount of DMD he keeps.

Trading

Once the customer has access to his Diamonds he may use it to his whims and fantasies. This is, of course, restricted to merchants that accept the cryptocurrency.

After getting in possession of some Diamonds the user ought to transfer it to traders, which are in possession of e-wallets to store this cryptocurrency. The user also needs to be in possession of an e-wallet for sending or receiving payments in DMD’s.

Markets

For a user to buy Diamonds off such an exchange he needs to be in possession of other forms of Bitcoins, or US dollars. Then, according to his requirement, he is to place his bets and wait for them to either go through or get rejected.

Benefits

– Safe and Secure.
– Fast response times as compared to other cryptocurrencies.
– Less prone to market fluctuations.
– Could be easily brought from the market.
– Management of the wallet is relatively easy.

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