Everything You Have To Know About CreditBit

Everything You Have To Know About CreditBit

CreditBit is a fully operational cryptocurrency that is now in its second stage of development. This second stage, codenamed Credit 2.0, has ushered in new developments.

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CreditBit is a new cryptocurrency that has been in operation since January 2017. Although established earlier than that, this cryptocurrency has only recently started operations in various markets this year. It was founded as an independent coin in 2015 but later joined the Ethereum blockchain. As of now, it is still being traded as a digital Ethereum token. It is thus held and transacted in the various digital wallets that are associated with Ethereum. The main objective of the team behind this cryptocurrency is to continue providing a viable currency in the form of a digital token.

Basic info about CreditBit

CreditBit is a fully operational cryptocurrency that is now in its second stage of development. This second stage, codenamed Credit 2.0, has ushered in new developments in the cryptocurrency including the establishment of a solid core on the Ethereum blockchain. The cryptocurrency has a mechanism of rewarding holders through a Proof of Trust functionality that involves locking the CreditBits. It is also exchanged on various markets and the use of the cryptocurrency is growing, albeit steadily. Since migrating to Ethereum, the mining process of the currency is tied to Ethereum mining principals. As of now, the main ways of obtaining the currency are through locking and trading on the viable markets.

CreditBit Trading and Market Information

CreditBit is currently being traded in a number of websites. Most of these websites are listed on its website as well as on various coin market websites. The currency’s value is not the best in the market considering that it is a new product. The currency is, however, quite stable and less volatile even in its early stages. There are not much statistics available for this coin, however, as it is still in development stages. You can currently be able to obtain data for the first quarter of 2017 as those are the only months it has traded actively.

The Creditbit Ecosystem

There are a number of digital wallets that are currently supported by CreditBit. The organization behind the currency also runs CreditDAO, which is the branch responsible for key decisions on the direction of the currency. The ecosystem also has some CreditGAMEs that are poised to give members of the community a chance of gaining new currency by participating in the games. Three such games are listed on their official website as of now. There is also CreditIDENTITY, which is basically a foolproof way of giving a public identity to currency holders. Other features like CreditBAY, which seeks to offer decentralized commodity markets, still seem to be in development.

In Summary

Creditbit is a young cryptocurrency that has potential, but also, a long way to go. The currency has an active community behind it and its recent transition has seen it get multiple features and improvements. The fact that the currency is built on a relatively stable Ethereum blockchain is also encouraging. The currency has established itself as a product that seeks to capitalize on the power of tokens to provide a different option in the market. More information about the markets and development of this currency continues to trickle in as the year progresses.