Cryptocurrency is no news for daily users of the Internet. Either through an ad, directly visiting the sites, or by reading an article, you are sure to have come across cryptocurrencies one way or the other. Cryptocurrencies are digital currencies, with no direct regulation of the cryptocurrency's operation similar to what is obtained in the central banks of many countries. Nexty platform is the markets newest trend. Its price stabilization and smart staking programs among other unique features place it ahead of several other cryptocurrencies in the market. In this article, we are going to focus on smart staking program as a whole, its strength, weakness, transaction time and its transaction fee briefly.
What Is The Smart Staking Program?
Cryptocurrencies traders and issuers are undoubtedly familiar with what staking is all about in cryptocurrency trading. However, for the beginners to familiarize themselves with cryptocurrencies, staking is just a means of accumulating interest on a token by keeping it for a given period. Once you have a virtual token stored in your wallet, after a period, it begins to accumulate interest, and the more time it is being held, the more profits it generates for the trader or investor.
It is in line with this understanding that Nexty being a decentralized platform announced the launch of its smart staking program. This program is opened to registered users alone offers them a certain amount of NTF tokens on completion of their registration. These tokens earned can be staked by users which in turn will yield many interests due to the scarcity of the NTF coins and the seemingly bright future of Nexty platform as a whole.
The Advantages of the Smart Staking Program
The smart staking program is a unique innovation introduced into the cryptocurrency ecosystem and as such very advantageous. The strengths of this program among others include:
•It strengthens the price stabilization system of Nexty to facilitate the regulation of token demand and supply.
•The smart staking program provides more coins to users based on their investments. That means the more you invest, the more coins you get to stake.
•It also offers users an opportunity to enjoy the many benefits that come with owning NTF coins like mining, earning NTY tokens monthly, and being able to trade other cryptocurrencies at a cheaper rate.
Weaknesses of the Smart Staking Program
The smart staking program does not come without its weaknesses, some of which includes:
•It has not been made available to everyone. Only initial investors who have an account with the platform can participate.
•The smart staking program of Nexty in a way will reduce trading volume as more users will prefer to stake their coins than trade or issue it.
Transaction Time and Fee
Transactions carried out on Nexty platform are done speedily due to it being carried out on the blockchain. However, with the introduction of DCCS program by Nexty, transactions have become faster and much more effective.
The Nexty platform's price stabilization system allows users earn NTF instead of having to pay for transactions using NTY by simply having to update the blockchain when transactions are being made. This way, the transaction is being carried out without a transaction fee.
Nexty is keen on being a force to reckon with in the cryptocurrency market. With its customer-oriented innovations, one of which is the smart staking program, Nexty is beginning to have the edge over other cryptocurrencies in the market.