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- 1 What is Orchid (OXT) Crypto?
- 2 How Does Orchid Work?
- 3 How to Buy Orchid (OXT)
Last Updated on July 15, 2021 by Editor Futurescope
In the past, VPNs (Virtual Private Networks) were created to help eliminate the security risks of local internet networks, which is especially important for businesses and individuals transferring sensitive information online.
However, it was soon learned that traditional VPNs also pose their own share of risks, including the threat of VPN providers spying on users and then stealing their information to capitalize from it, once again prompting the need for a more secure means of accessing the internet for more prominent matters; hence, the Orchid (OXT) Coin was born.
What is Orchid (OXT) Crypto?
Orchid (OXT) is a digital currency that follows the same compliance as Ethereum. However, it differs from Ethereum and other digital currencies in that it is solely used to sell and purchase bandwidth from Orchid node providers.
Orchid itself is software designed to operate a decentralized VPN to help users keep details concerning their data and browsing transmissions safer from the public as they utilize the internet.
How Does Orchid Work?
Orchid differs from traditional VPNs in that it distributes its virtual private network activity across the Ethereum blockchain, thus enabling users to browse websites and apps without leaving behind a string of data.
It works by providing a peer-to-peer connection between users who sell Orchid’s private bandwidth and those who want to purchase it using Orchid OXT cryptocurrency instead of their bank account.
Transactions are made by way of a mobile app. Once users access the private network, any information they transfer over the seller’s servers will be encrypted in layers before it is transmitted.
This way, their internet activity cannot be tracked, thus keeping them inconspicuous from third parties.
How to Buy Orchid (OXT)
To purchase Orchid OXT coins, you must first download the Voyage app, located in Google Play and Apple iTunes stores.
Once you have successfully downloaded the app, next open an account, which can then be funded by linking your bank account to the platform.
After you have funded your account, you will then instantly be able to make trades.
To buy Orchid (OXT) coins, you need to access the Orchid page through the Market Screen page and then select “Buy OXT.”
Enter the amount of USD you would like to spend and then follow the prompts to complete your purchase.
According to the experts at SoFi, “the current price for Orchid is approximately 0.34, down 0.60 from 2020,” which may indicate a good time to buy; however, it also shows how volatile it can be, thus also attesting to its level of investment risk.
However, it, too, can be used as an investment tool for individuals who believe the use of Orchid crypto will continue to rise, causing an increase in the value of the coin and thus their earnings over time.
Just remember, like all investments, it is important first to research the cryptocurrency’s risks to ensure it is the right vehicle for you.