Beginner’s Guide for Grin (GRIN) Crypto

Although the Grin was announced in October 2017, it is still new to some crypto societies. It was mainly designed to focus on the gambling industries.  The algorithm on which it works was a hashing one as it was initially running as a proof-of-work coin. Despite its announcement on the Bitcoin forum in October, it was launched in November 2017 and made its debut for gambling as a cryptocurrency.

To be confirmed on a network after the execution of a transaction, Grin takes lesser time than that of Bitcoin. On an average scale, it takes about four blocks for the confirmation on the network. Only 10 % of the entire GRIN coins (23 million) were released during the pre-mine of the coin. The amount which was generated from the pre-mine was spent in carrying out some major activities such as exchange listing fees, promotions, giveaways, and airdrops. 

Is Grin Profitable?

If the popularity is the only aspect you look for in a coin, then this coin is not that popular if compared to other coins out there. But if you’re main concern is opportunities for profits, then this coin offers a lot.

The unsurpassed annual staking interest available with Grin makes it an excellent consideration for investment. The Grin network changed its algorithm from proof-of-work to a more reliable proof-of-stake algorithm. On staking, a user having 100 GRIN coins can get a total of 525 GRIN coins in a year.

To advance the appeal of its network as an asset opportunity, developers of the Grin network hope to implement the master nodes on the blockchain network. The master node was first introduced by the DASH network which was implemented as a form of server.

How to Host a Masternode?

On a network of cryptocurrency which is decentralized, the rewards that a host of a master node can get are superb. To host a master node, a large number of GRIN coins are to be provided to the machine which is hosting. No expensive mining hardware is needed to host a master node to stake. After the successful implementation of a master node by the developers of the Grin, the exact amount will be on the loose for hosting.

If you are fascinated by trading Grin’s Stock. Exchange and Trade Satoshi are two exchanges you should consider. For now, the value of GRIN is about $0.002333. But it is expected that the value of GRIN will rise in 2018. At present, the total market capitalization of Grin is around $263,000.

Grin wallets for PC

A Grin wallet is also available on the internet for PC users. This Grin wallet can be downloaded on a PC if it’s running a Linux, Mac, and Windows OS.

How to buy Grin

The process of buying Grin is no different than purchasing other available cryptocurrencies. Like other cryptocurrencies, Grin cannot be purchased directly or as a direct exchange for fiat coins. In fact for purchasing Grin, you first need to go and buy Bitcoin and then you can easily exchange Bitcoin for Grin.