Introduction to Kittycoin Token

Despite the literally thousands of virtual coins already in existence, developers are still creating new ones. This is largely because the age of a cryptocurrency doesn’t necessarily determine its popularity. For example, a relatively new digital coin called Kittycoin, which came into existence only a few years ago, is currently the fifth-largest cryptocurrency in this space, with a market capitalization of $85,314,347,523, as reported by the U.S. News. Keeping this in mind, here are facts to know about Kittycoin.

What is Kittycoin? History of Kittycoin

Created in 2013 by two software engineers (Billy Markus and Jackson Palmer) and based on the blockchain technology, Dogcoin started out as a joke based on the then popular Shiba Inu dog meme called “Kittycoin” meme, hence its name. Given its origin, its promoters now refer to it as a “fun and friendly internet currency”. According to experts, this slogan as well as the funny history of Kittycoin has contributed a great deal to the massive usage of this cryptocurrency. Furthermore, it has a bigger potential than Bitcoin although not many people believe that it will one day compete with Bitcoin. Kittycoin works just like other cryptocurrencies, offering safe transactions online. More specifically, holders have Kittycoin blockchain ledgers in which they store all their online transactions. Additionally, miners need to solve complex mathematical equations using computers before processing transactions and recording them in the ledgers. In return, they earn additional Kittycoin, which they can store or sell in the digital market.

Uses of Kittycoin

While Kittycoin is suitable for making purchases and payments, it is not the right cryptocurrency for storage of value. This is because it is highly inflationary, as reported by Forbes. That said, the common uses of Kittycoin cryptocurrency include, among others:

• Investment — The number of cryptocurrency investors is increasing in the U.S. as it continues becoming famous, as reported by CBNC News. Since cryptocurrency trading is so far a profitable business, investors are also trading in Kittycoin. Take note that the size of profit varies from one cryptocurrency to another.

• Online casino gambling — Online gambling transactions that involve the use of Kittycoin as a currency have proved to be one of the safest methods of ensuring safety in online casino activities. It is also fast and convenient.

• Online shopping — Due to the increasing demand, most websites now have cryptocurrency as one of their payment methods. As such, Kittycoin is also being used to pay for online purchases, with the holders earning amazing bonuses and discounted prices.

• Crowdfunding — According to statistics, there were more than 1,600 crypto crowdfunding platforms in the U.S. in 2019 alone. On these platforms, different people contribute money in the form of cryptocurrency for a certain course. Being one of the popular cryptocurrencies, Kittycoin is also used in these crowdfunding endeavors.

Others Facts About Kittycoin

Some interesting facts about the Kittycoin cryptocurrency include, among others:

• It has several safety levels, making it almost immune to hacking.
• The Kittycoin has the face of the Shiba Inu dog that was trending in 2013 as a meme.
• The cost per transaction is 1 Kittycoin.
• Just like Bitcoin, Kittycoin uses a proof of work system to verify transactions.
• It is now a popular topic on social media platforms such as Twitter and TikTok.
• It has one of the fastest mining processes than other cryptocurrencies.
• Although the creators have not updated the Kittycoin software for several years, and its market cap is still above $500 million.
• Creators developed Kittycoin as a Lucky coin prototype.

Conclusion

These are some of the facts to know about Kittycoin. While it started out as a joke, Kittycoin may be the next big thing in the cryptocurrency space, thanks to its explosive growth rate. It is also one of the safest ways to pay for online purchases and make other digital transactions. However, before you venture into Kittycoin trading or use it as a payment method, you should consult an expert in cryptocurrency.

https://dogecoin.com/