What is an OXT?
OXT is a token or value with the help of which anyone including user or provider can buy or sell bandwidth in Orchid network by user or node provider respectively. Now, next question in your mind must be okay, I got it but what is Orchid Network then? Open Network is a decentralized market which provides privacy to its users while browsing through web so they can surf internet freely(not actual free of cast it means without any feeling of being tracked) which is supported by or based on Ethereum network. Now further in this article, let’s understand how it works, OXT price history and analysis, will it be worth buying OXT coin in coming years and how we can start staking Orchid cryptocurrency.
How OXT works?In simple words, you can imagine a virtual market of bandwidth where different VPN providers sells bandwidth in return of virtual currency that is OXT coin or token to users so they can surf internet in a private network where their activities won’t be tracked and traced. As number of internet user being increased, issues or frauds related to user privacy also increasing. Although it sounds simple but there are various components behind proper functionality of network. Following are the core components who plays important role in Orchid Network overall functioning.
Orchid coin Price Analysis
Orchid coin started listing on CoinMarketCap since last year December 2019 with initial value around USD 0.33$. With total supply of 1 billion OXT coins only 65 million OXT are currently circulating in the market. OXT coin is currently ranking in the range of 300+ in terms of market capitalization but soon in coming few months or years it will be under first 100 cryptocurrencies. Only after 2 days of listing OXT reached double of its initial value that is USD 0.71$ but after that it never reached same value till now June 2020.
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This OXT coin has shown many fluctuations but from March 2020 there is a slow but steady growth is being witnessed by all of us. Although this first 6 months were difficult, or we can say not good for OXT investors in terms of ROI as it is in negative number. As per many crypto experts this OXT coin could be a good long-term crypto investment.
How to stake OXT coin?
To understand staking OXT coin you can follow below instructions. But before that investing or staking in cryptocurrency is very risky and could result into all capital loss. We will not be responsible for any claims if in case you lose your principle amount. Invest at your own risk and consult professional expert before making any investment decisions. You may go through disclaimer page for more details. So following are some helpful instructions for staking Orchid cryptocurrency :-
- Any internet user can stake OXT coin
- User will opt new nodes as per their investment amount.
- The more you stake OXT, greater rewards you may receive in return. Reason behind this is, system prefers that provider which has large stake whenever use request for bandwidth. More users you have more revenue can be generated.
- If node you opted is reaching, it’s capacity then extra stake will be resulting into waste.
- If provider decides to withdraw their stake amount, then he/she has too wait for cooldown period of around 3 months in which provider can not use their investment for staking and can not withdraw it to any other account.