What is Vertcoin?

Vertcoin (VTC)

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Vertcoin (VTC) is a form of digital cryptocurrency that allows its users to send or receive instant payments anywhere in the world. When one uses VTC, they can purchase their favorite items online easily. They will just need a VTC address and type the amount that they need to send. In a simpler sense, VTC will help you to buy various products and services without requiring a bank or financial institution, and this means that there will be no handling fees or charges.

 

How VTC works?  

 

Your VTC will be kept in a digital wallet. When you want to pay someone, you just enter an address, how much you want to pay and then send. If you want to get paid by VTC, you simply have to provide your VTC payment address to the payee. The transactions will require its users with absolutely no fees.

Vertcoin video explanation

The Vertcoin will be mined using the users’ computer CPU or GPU, these machines create a worldwide network that allows the currency to operate and miners are rewarded for their hard work with Vertcoins. The platform uses a new technology, which makes it resistant to ASIC miners (miners who use mining machines), meaning it’s harder for big business to monopolize and everyday miners will always be able to mine with their CPU and GPUs making VTC.

 

As more and more VTCs are discovered, there’s a tendency that they will become harder to find, which means “competition to mine”   will increase and may require the use of expensive specialized mining machines called ASICs, which can lead to shutting less wealthy miners out. According to the developers,  Vertcoin is purposely designed for both wealthy and less well-off miners. They further called VTC, as the “coin of people.”  

 

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