Also known as GLC, GlobalCoin is a cryptocurrency that uses scrypt algorithm to encrypt all transactions related with it. It prides itself on giving p
Also known as GLC, GlobalCoin is a cryptocurrency that uses scrypt algorithm to encrypt all transactions related with it. It prides itself on giving power directly to the people rather than doing it through the governments or other corporations. They make this possible by the use of peer-to-peer technology, same as the one used in credit cards transactions. From its conception in 2012 and implementation in 2013, the use of this cryptocurrency has seen a constant rise with an increased number of users.
Some of the benefits of choosing GLC over other cryptocurrencies in the market include:
- Security and privacy
These are usually the most important aspects of any financial transactions. Knowing that you can trust Globalcoin (GLC) to protect your personal information and transaction history is one of the things that give them a great advantage. This is possible by the use of operators that make it possible to reduce the number of information needed to track all the information regarding transactions. Once this data is tracked, it’s encrypted and stored on a secure ledger that the network owners protect. This is done in a secure way that allows the clients to access this information and still keep unwanted parties away. In addition, it reduces the chances of counterfeiting thereby eliminating the chances of fraud.
- Faster and cheaper transactions
With 40 seconds block time, you are guarantee a faster transaction period than other cryptocurrencies in the markets. You can transfer the money directly without the need for someone else to act as an intermediary, and the recipient isn’t charged any additional fees. This makes it easier to send money to other people at lower costs and they receive the money immediately.
- More discounts
With 70,000,000 coins in circulation, there are enough coins to go around for all clients without any restrictions. These unlimited numbers of transactions together with the discount rewards people are offered when they keep money in their respective downloadable wallets. The wallets make it easier to conduct automatic transactions resulting general time saving and an additional interest reward.
- No limitations
From the time it came into the market, the mining has been constant ensuring there’s no shortage of coins to go around. The coins are mined with the help of several machines that are placed in different parts of the world, making sure work is done continuously in order to maintain the supply and demand ratio. This has led to the steady flow of coins and this is only expected to get better as the market expands.
Although you can get information that is more detailed at https://www.globalcoin.info/, it’s safe to say that this cryptocurrency has many advantages that will place it above all others. For business owners, it could be a good idea to expand payment modes for the goods and services you offer to include GLC. It may help you expand your client base by giving room for other payment modes. The number of people adapting to this money transaction method keeps increasing and projections show that its supply will only keep growing in future. This makes it a safer option compared to others, including official government currencies used in different countries.