Coinbox: How to Invest in Bitcoin Using a Mobile App
Why do you need a cellphone for trading
Historically, the trader belongs to the office. It was a routine for clerks. But the blockchain technology changed everything about trading. Of course, there were various types of broker’s work but the maintenance always was about corporate values. Today you simply don’t need all this corporate mumbo-jumbo. The cryptocurrency demands from you only a stable Internet connection… and proper software for trading.
If you want to be always in touch, soon you will see that even a laptop is too much for such kind of crypto wallets, as Coinbox. You can make all the trade operations by just simple tapping and swiping, there is no need to use the console commands or some difficult tweaks. Every operation via the Coinbox wallet is available for every average phone user.
The next reason for the developing countries is the prepaid mobile Internet. All around the world, Internet traffic is very expensive but there are ways of cheap connection via some charity programs. Meanwhile, the cable Internet in Africa, Asia, and most parts of Latin America is not only expensive but luxury.
How to use Coinbox on your smartphone
The way is the same as for the desktop version. You download the application from Google and Apple online markets, install it, register and start working. So, your steps are:
- Log in (if you are the client of Coinbox, you are registered already);
- Adjust your privacy, security options, and verification in the “settings” tab;
- Check the current rates of BTC and other coins in the “currency” tab;
- Use “sell”, “buy” and “exchange” tabs for trading.
In Coinbox you can also earn a passive income just by holding cryptocurrencies in your wallet, the so-called staking. To get a better grasp of what staking is, you first need to understand how Proof of Stake works. Unlike Proof of Work (PoW), PoS blockchains can develop and validate new blocks without the use of special hardware (ASIC). On these blockchains, anyone with the minimum required balance of a particular cryptocurrency can confirm transactions and receive staking rewards. Simply put, staking is the act of locking cryptocurrencies in order to receive rewards.
In the Coinbox, staking is available for the ALGO cryptocurrency, based on the open Proof-of-Stake blockchain platform Algorand. It is a scalable platform with high transaction processing speed, while maintaining decentralization that most other public blockchains cannot provide.
Annual Percentage Yield (APY) – The interest rate which reflects the total amount of staking rewards that are predicted to be earned during the annual period is 5.46% for ALGO.
Yes, it is that simple. With the wave of one finger, you can obtain wealth… not today but if you’ll continue to study the market, soon there will be a success. The Coinbox application is one of the coziest wallets, so just try it!
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