Ever since the launch of Bitcoin and its meteoric rise in popularity, the number of cryptocurrencies in existence has increased dramatically. New crypto coins are being launched frequently with the idea of leveraging blockchain technology for worldwide applications. Even though many of these decentralised virtual coins have managed to venture into applications beyond serving as an alternative to fiat currency, we still have cryptocurrencies that aim to become a decentralised digital currency. Pura is one such player in this space.
What is Pura?
In simplest terms, Pura is an international, decentralised digital currency that enables users to transact with anyone from any corner of the world in real-time, directly and privately. Just like Bitcoin, there is no need for middlemen like banks or payment providers to facilitate transactions with Pura.
All financial transactions are private and instant, and the records of the same are stored on the Pura blockchain which in turn, are backed up by servers across the world.
In order to keep the Pura network up and running and protect it from external attacks, Pura protocol is coded to financially reward the individuals tasked with this responsibility. These people are known as masternodes owners and they operate servers that keep the network operational and online. Masternodes also ensure that all transactions are executed instantly and kept private.
Masternode owners also ensure that Pura network remains decentralised. The owners and users take part in decisions concerning Pura, thus making it a decentralised cryptocurrency that is run by the people.
In order to become a masternode owner, you need to accumulate 100,000 Pura tokens. Being a masternode owner has its perks - you earn regular rewards for hosting a masternode which can be liquidated anytime. It is just like earning interest on your savings.
Pura is also the world’s first socially and environmentally conscious digital currency. It has been coded in such a way that 10 percent of its mining rewards are donated to the common good. The total supply of Pura is 350 million.
Where to buy Pura cryptocurrency?
Pura is an altcoin and in order to buy it, you will have to exchange it with Bitcoin. Therefore, the first step is to buy Bitcoin. Once you have BTC, you need to exchange the same for Pura at either Coinexchange or Kucoin.
The best way to store your Pura tokens is in the official wallet released by the developers of Pura. This wallet is available on the official website of Pura and the company in its next update will release Pura wallets for Android, iOS, and Mac.
Pura is a mineable cryptocurrency that is based on the X11 algorithm. All mining resources can be found on Github and more information on the same can be found on the official website. For every block that is mined on the Pura blockchain, users are rewarded with 25.16 Pura.
Pura Price Trends
At the time of writing this article, 1 Pura token is worth approximately $0.26. The price has witnessed dramatic fluctuations since August 2017. It has made it past the $1 mark only once and since then, the price has been varying constantly at lower values. In December, the price breached past $0.7 again, only to dive dramatically thereafter. The ups and downs continued through 2018 as well, with the most recent nosedive taking place in March.
Risks associated with investing in Pura
It is fair to say that in its very basic nature, Pura is quite similar to Bitcoin - a mineable decentralised digital currency which requires no middlemen for a transaction to take place. However, it is definitely not as popular as Bitcoin.
Furthermore, from the price trends stated above, it is evident that the cryptocurrency is highly volatile and therefore, is quite risky to invest in. It is also susceptible to legal hurdles just like every other cryptocurrency, thus making it a risky instrument to hold.
In such a scenario, it is better to invest your money in traditional, safer options like mutual funds . A good mutual fund can deliver strong returns in the long-run.
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