Crypto has become the focal point of investment for entrepreneurs and traders around the world overnight. The potential cryptocurrencies have is immeasurable, but most of the time, promising new coins often get overlooked due to the popularity of coins such as Bitcoin or Ethereum.
One such cryptocurrency is Groestlcoin. This coin has amazing potential as the team behind is striving to reach unparalleled heights. This platform is designed for peer-to-peer transactions and it currently runs on the Grøstl-512 mining algorithm, which tells us that this coin is proof-of-work based.
However, as with every crypto, there’s more to it than it first meets the eye. For that reason, let’s explore below how Groestlcoin works, how you can trade it, and where you can get it.
Contents
How does it work?
The main goal of this coin is to enable individuals to make seamless transactions regardless of their geographical location. Much like Bitcoin or Litecoin, this coin prides itself on its decentralized nature.
In addition to that, transaction fees for Groestlcoin are incredibly low. Even if the coin explodes during the next bull run, you can rest assured that you will be paying pennies in fees.
To mine Groestlcoin, you can use your personal computer as long as it’s equipped with the right tools. So, if you have a 3060TI lying around or a 3070, you can put that card to use to make some profits.
Where can you buy it?
Groestlcoin is available on all major exchanges. This is a sign that the coin is compliant with all the rules and regulations of crypto exchanges, and is a safe investment. Of course, you can take a look at all the exchanges and find the ones that offer the best prices in terms of fees.
As things stand, Groestlcoin is currently hovering around the price range of $0.2895. That being said, it’s best to consider your investment plans carefully and never invest in something that you might think will ruin your financial health. The best course of action for you is to always follow the GRS BTC charts carefully and search for the right patterns.
How do you store it?
Just like with other cryptocurrencies, you will need a wallet to store your Groestlcoin. You can either store it on your personal computer via the Groestlcoin core or if you are more of a mobile user, you can always use the Groestlcoin mobile wallet.
Crypto wallets are extremely safe and equipped with top-of-the-line cybersecurity software and you will never have to worry about a breach.
Team and progress
Groestlcoin was first introduced by Gruve P, a Bitcointalk developer. The current team now employs nearly 20 members spread across the globe. Most team members prefer to remain anonymous and just work on developing the coin so that it can reach further heights.
The team releases a new version of the platform every three months, and it shouldn’t surprise that they have achieved so much over the past four years.
The team and the community have created eleven different Android wallets, ten different Blackberry wallets, as well as three different iOS wallets.
And on top of all that, the development team with the support of the community has created more than twenty desktop wallets.
GRS blocks and supply
There are currently 70 million GRS in circulation, and 105 million GRS available. Groestlcoin has a block size of one megabyte. And in addition to that, the creators stated that if 80 transactions per second are not enough to handle an increase in volume, they will work on expanding it.
Initially, the mining reward was set at 512 GRS per block. However, it was reduced by half every week. The Groestlcoin dividend has been raised to 5 GRS per block and will continue at this level throughout its existence.
Final thoughts
Groestlcoin is an amazing potential investment for people looking to get into crypto. Not just that, miners can utilize their GPUs and potentially earn profit. However, when it comes to crypto, you can never predict the future.
When it comes to exchanging GRS at the best rates, it will all come down to the fees set by third-party institutions. For that reason, it’s best to be on the lookout for updates and price standings.
