What is Peercoin
Peercoin is a decentralized crypto currency launched in 2012 making it one of the oldest and reliable crypto coin with instant payments to anyone across the Globe. Peercoin has no central authority and it uses peer to peer technology to manage network transactions. Its also called PPcoin with trading symbol PPC.
Peercoin is coded based on Bitcoin but its truly one of the alterative currencies to Bitcoin, It is the first crypto coin to introdue Proof-Of-Stake (POS). Peercoin money supply is determined by the following
Proof of Work mining (POW)(increases supply)
Number of transactions (decreases supply by 0.01 PPC per transaction)
Proof of Stake minting (increases supply at a rate up to 1% per year)
Peercoin Wallet – You can download the wallet from official Peercoin website, https://peercoin.net/wallet . Download the wallet and synchronize blockchain and get your wallet address.
Peercoin Mining Pool – Peercoin can be mined using Proof-of-Work (POW). It uses the same algorithm as Bitcoin which is SHA-256. You can mine the coins using any of the GPU or ASIC rigs. The reward for mining a block gradually declines as the computing power of the network grows. Over time, mining will have an ever-decreasing impact on the growth of the money supply.
Here are the steps to Mine Peercoin –
1. Get you Wallet ready to take out your address
2. Select a Mining Pool from the below list
3. Sign up with the Mining Pool and follow the instructions before pointing your miners to kickstart mining. You can even select multicoin pools like https://www.coinotron.com/coinotron/ etc.
Step by Step Peercoin Mining Video –
Peercoin Calculator – You can find the profitability mining calculator using http://www.coinwarz.com/calculators/peercoin-mining-calculator
Where to Buy Peercoin
Peercoin Exchange – You can buy or sell your mined Peercoins at one of the Exchanges. Exchanges are the ones which facilitates to trade altcoins with Bitcoin or Dollars.
Guide on How to Buy and Sell Using an Exchange
Peercoin Minting (Peercoin Proof-of-Stake) – Once you have your coins either from an exchange or POW Mining, you can send them to your wallet and get interest. It doesn’t require any specific hardware as your computer is just enough to do Minting. Minting earns you 1% annually. Coins are first eligible to mint 30 days after they have been transferred, and after 90 days, their chance of success is maximized. If you mint more often, your earnings will compound!
Step by Step Video guide on Peercoin Minting