The never-ending list of cryptocurrency platforms in the coin market has not only set a standard but it has attracted admiration from other investment platforms online. As the cryptocurrency market becomes larger day-in-day-out, one striking advantage is its blockchain features that allow for peer to peer decentralized services.
Bitcoin Rhodium may not have been noticed by many cryptocurrency investors -it has recently been added to the coin market. Bitcoin Rhodium which is a form of digital asset has had a lot of misconception in regards to its origin, creation, and purpose within the coin community. Many believed it is another forked coin from Bitcoin’s core which might show many similarities and features with Bitcoin. This article seeks to address the origin, purpose, features, benefits, and mining activities of Bitcoin Rhodium Cryptocurrency.
History of Bitcoin Rhodium
The idea that surrounds the existence of Bitcoin Rhodium can be traced to the fourth quarter of 2017 when its first airdrop was announced. Its explicit goal was not to create Bitcoin Rhodium as a hard fork of Bitcoin but to make it a coin that is viable with a long term use case. The team behind Bitcoin Rhodium noticed that most altcoins especially those that was forked from Bitcoin core have suffered different issues such as low price value, low support from major exchanges/wallet, and reduce value for long term use.
By 2018 when Bitcoin Rhodium swung into full operation after the first Airdrop, its web wallet was launched to the entire public. This web wallet was used to provide an easy way to claim Bitcoin Rhodium coin during the second quarter of 2018. As Bitcoin Rhodium becomes fully recognized by most cryptocurrency investors, its testnet was launched in the third quarter of 2018. During this period, its testnet was used as initial testing for mining pool activities, transactions, the functionality of its web wallet and to check for stability in the entire blockchain. By the completion of its testnet, Bitcoin Rhodium team launched its mainnet on the 22nd of October 2018 to the entire public. It was launched to officially kick-off blockchain activities and allowed those who didn’t participate during the First and Second Airdrop have their share of Rhodium coin.
What is Bitcoin Rhodium?
Bitcoin Rhodium is a decentralized service that works on the blockchain network. Bitcoin Rhodium is a cryptocurrency commodity that is rare and limited in supply that can be used as a store of value for long term use cases. Bitcoin Rhodium is a cryptocurrency investment platform that bridges the gap between cryptocurrency investment and traditional investment. Its long term version is to maintain anonymity, scarcity, and security during times of transactions.
Its Distribution, Price Market Value, and Market Cap
Bitcoin Rhodium is denoted by the abbreviation BTR. A total of 2.1 million BTR is available for the public. Its share of reward is distributed to the entire public to allow for full participation of the community from the period of its first Airdrop. It was distributed so that half of its total 2.1 million BTR (50%) is set aside for mining, 28% for airdrop, 12% in 8 years investment as Strong Hand Programme, 5% remained for PR and 5% remained for dev respectively.
As at when this article was written, the price of Bitcoin Rhodium is approximately 30USD. Its total supply currently is 866521 XRC as against its 2.1 million BTR.
Features, Benefits and its use cases
1. Strong Hand Programme
The Strong Hand programme is used to reward proactive holders of Bitcoin Rhodium. This programme forms a three months cycle within eight years duration. In other to earn an extra reward of 8036XRC, proactive holders should be ready to fund their wallet account and avoid any negative balance within the three months cycle period. At the end of the three months cycle period, only addresses with no outgoing transactions will be rewarded.
2. Long term security investments
Bitcoin Rhodium stands at the forefront as a long term security investment as compared to Litecoin and Bitcoin. Bitcoin Rhodium will help to bridge the gap between traditional investors and blockchain transactional properties. This will promote its investment diversification, making it viable, and unique in the blockchain industry.
3. Bridging the gap between traditional and crypto investment through the use of an Application
As a way of filling the missing puzzle between traditional investment and cryptocurrency investment, Bitcoin Rhodium introduces an application that will bridge this gap. This application will facilitate a peer to peer exchange within three coins (Litecoin, Bitcoin and Bitcoin Rhodium) through its decentralized blockchain.
Bitcoin Rhodium wallet
Bitcoin Rhodium wallet exists as electrum desktop wallet and paper wallet. Its desktop wallet was designed with electrum wallet features that help to secure private and public key system. It gives you instant access and ability to recover your lost seeds. Bitcoin Rhodium desktop wallet can be installed in Linux, window and Mac OS operating system. Its installed file extension can be used to access your coin and traded within any of the prescribed exchange platforms.
Where to trade Bitcoin Rhodium?
You can buy and trade your XRC coin in the following exchange platforms:
TradeSatoshi is a cryptocurrency exchange platform that supports the trading of Bitcoin Rhodium with other coins. Using TradeSatoshi exchange provides you with a high level of security, and transparency with your XRC. TradeSatoshi offers cold storage options, two-factor authentication and live backups for your crypto assets.
2. Bisq Exchange
Bisq network is one of the cryptocurrency exchange platforms that supports the trading of Bitcoin Rhodium. Bisq ensures the safety of traded funds through multisig trading wallets and also ensure that personal data are stored locally in other to void being hacked by third parties.
3. P2PB2B Exchange
P2PB2B is a trading platform that allows you to trade your Bitcoin Rhodium, deposit coins, fund your wallet and withdraw funds from P2P. P2PB2 gives you access to trade your Bitcoin Rhodium in exchange for fiat currencies and other local investment trading accounts
Mining Bitcoin Rhodium
50% of its total coin supply has been set aside for mining within the next 100 years. Individuals and miners can mine Bitcoin Rhodium from their official mining pool in their websites by contributing their desired hashrate and participate in the mining of Bitcoin Rhodium.