Cryptocurrency ClubCoin is a new kind of decentralized digital currency, which is based on the consensus of the system, where all transactions can be seen in the public book. This proves the absence of anyone’s control and complete transparency for the owners of the network. Transactions of these coins take place between users directly using cryptography without intermediaries. This feature of network distribution allows the system to work without trusting anyone over itself. To protect their transactions, the creators of ClubCoin suggested using the “Proof of Bet” method. Its essence is that each Club owner has the opportunity to use his coin to help verify transactions in the book. The name of this process is bid. In this way, the network is replenished with newly released coins. CLUB is an open-source cryptocurrency. Thanks to this feature, all information is publicly available and can be easily verified. This gives this digital currency power. It should be noted that the power over the currency is distributed equally, that is, all owners have the same amount of authority. The power of each depends solely on the amount of ClubCoin in the wallet. Anyone can join this network.
History of occurrence
The ClubCoin cryptocurrency was originally distributed to Bitclub Network shareholders who have been investing in currency mining since 2011. Members of the BitKlab network received the CLUB cryptocurrency as a strategic way of distributing coins in a global network of users. This model gives superiority over other coins in the virtual money market, as it will be issued and distributed worldwide due to the growth of the user base.
Features of the CLUB cryptocurrency
The peculiarity of club coins is that they will earn only if a distributed network exists. For this, it is important that the user not only accepts the coin but also actively uses it. Equally important is the presence of merchants who will use coins as a payment for goods and services, and users will happily accept it as a payment method. Despite all the positive qualities of the coin, at the moment it is weak and little used by merchants. The obvious advantages of the club coin cryptocurrency include the following:
- block chain safety. ClubCoin has its own blockchain and a distributed network of nodes that make it very secure;
- the opportunity to bet on your share. The earnings of club coins, in this case, will be 1% of the rate for network support;
- the presence of its own trading platform. A new trading platform is under construction, with the help of which online companies will be able to accept club coins without risk. Since many participants will be ready to use this platform, a strategic way is being created to register new merchants;
- stability. Large distribution and low inflation: 80 million ClubCoin were mined at the very beginning, and these coins are distributed among members of the BitClub network. No new coins will be created using the Proof-of-Work method, all new coins will be issued from 20% of the annual interest paid to Clubcoin owners who place bets in their currency. This happens every year and a half;
- fast transactions. Any amount can be sent to another user who will receive and will be able to spend it as soon as the network confirms the transaction. On average, an operation takes two minutes;
- everyone can become the owner of the club coin cryptocurrency. They can be used to transfer funds to other persons or pay for goods and services. The owner of the club’s wallet is the only person who can conduct transactions from his wallet to another since the key will be known only to him;
- Coyne is cheap and easy to use.
To judge the forecasts of the course, you should consider its price history. At the time of occurrence, the ClubCoin rate was $ 0.32. A year ago, in December 2016, $ 0.52 was given for 1 club coin. As of December 2017, the unit price is $ 4.32. Last year, the currency reached a maximum of $ 0.53 and a minimum of $ 0.14. In 2017, the maximum price for one coin was 5.57 dollars. But since March 2017, she barely moved a few cents. Over the past three months, during which cryptocurrency prices rose significantly, the ClubCoin rate has stood still. Like him, bitcoin and Ethereum shot up, and many smaller coins also received huge wins, but not Clubcoin. Judge for yourself: over the year, the price of the cryptocurrency has grown by only four dollars. Compared to other electronic money, this is very low growth. The lack of price movement in the cryptocurrency market was the last straw, and many owners of this currency sold most of their coins and transferred it to other cryptocurrencies. What are the prospects for ClubCoin? Who knows?! The future is bright for many cryptocurrencies, while others will fail. As for the club coin currency, it should be noted that it nevertheless develops every day, even with small but confident steps. The network is stable and growing. All desktop wallets work and set without any serious errors, and the number of transactions is growing.
How beneficial is mining ClubCoin
Consider in detail the profit from the extraction of club coins, but in a different currency. For 8 days of active mining, an average wallet can earn 192 ClubCoin, so this is about 24 times a day. At the moment, cryptocurrency is trading at 13.6 peach, which is $ 3.26 per day. Based on this, we calculate the income: £ 3.26 x 365 days a year, divided by 12 months = 99.28 pounds earned every month. Note: The highest price of ClubCoin trades in 2017 is 62.2 points, which will increase profits to 454.06 pounds per month. Of course, the computer must be turned on 24 hours a day, seven days a week, so you should consider the cost of electricity.
Owners of this cryptocurrency often work with Coinomi to increase the earnings of clubcoins listed on their platform. The LIVE wallet is best suited for this. It can be downloaded through the Google Play store and installed on Android devices. Coinomi has great features and truly reliable protection. You can also easily exchange ClubCoin for other ALT coins and hold them in the Coinomi app. If you want to keep coins offline, you can create a paper wallet and leave your coins in it. This club coin wallet will also provide maximum security. It can be used more as a repository for the safe holding of large quantities of ClubCoin. Also worth mentioning is the ClubCoin 24/7 wallet. Using this virtual server to store coins is a good solution. This is a very cheap and easy way to keep cryptocurrency day and night without connecting to the Internet at all. It is like having a computer in the cloud, always working and always making money. You can enter the system at any time when you want to check how ClubCoin mining is going.
How to get and where to exchange clubcoins
Everyone can collect CLUB cryptocurrency while receiving, in addition, a reward from the recently released ClubCoin. You can do this after downloading the club coin wallet and saving it online in order to process transactions. The computing power of the computer will be used to distribute and verify the network. It is for this that the owner receives a reward. This virtual coin can be exchanged for any other electronic money. The extraction of clubcoins is similar to the extraction of bitcoins, but even an ordinary home personal computer is suitable for this. In fact, you can use VPS, but on condition that the service will work 24 hours a day.
How to Sell Your ClubCoin Coins
The selling process is very simple. First, you need to send your club coin cryptocurrency to Bittrex and exchange it for bitcoin. It takes only a few minutes. Once Bitcoin appears in your Bittrex account, you can buy other cryptocurrencies or transfer it to localbitcoins.com and convert it into cash.
How to earn Clubcoin
To work with CLUB, you should download Clubcoin Wallet. Further, we advise you to adhere to the following recommendations:
- Firstly, you need to get a wallet for storing cryptocurrencies (which types exist, mentioned above);
- secondly, for a good start you need to buy or earn Clubcoin;
- thirdly, you should bet: BitClub members can use the BitClub Network blade pool for the wallet 24/7.
Now that you have Clubcoin, where can you spend it? BitClub Network is the first merchant to accept coins.