DigiByte is an open-source blockchain, powered by the cryptocurrency of the same name. It was built using Litecoin’s code but the developers made several modifications to suit their vision. They wanted to diversify the security, speed, and capacity possibilities of blockchain. Its development began in 2013 and was launched in January 2014. This makes it one of the earlier cryptocurrency in the world.
There are several things that make DigiByte unique. First of all, it has three layers to its structure. It has a smart contract “App Store,” a public ledger, and the core protocol that features nodes communicating to relay transactions. Secondly, the blockchain uses five different algorithms to improve its security, reduce the risk of double spending, and prevent ASIC miners from gathering too much influence over the network.
DigiByte has a max supply of 21 billion coins. It has a proof-of-work consensus algorithm, and miners earn tokens for validating blocks. In fact, its PoW chain is now longer than Bitcoin’s. The total supply of DigiByte is expected to be mined by 2035. Also, the block reward reduces by 1% every month. As with many coins of its era, some portion of the initial supply (0.5%) was pre-mined. However, the developers of the project distributed this pre-mine to early community members.
DigiByte continues to be an interesting project for both developers and investors. As such, it has seen a rise in rankings (based on market capitalization) in recent times.
Step 1: Find The Nearest BaapATM To You to Buy DigiByte In Canada
This is a straightforward process. All you need to do is visit our website and click on Locations. Then, simply type in your address, and the map will show the nearest BaapATMs to you. This works from any location.
Step 2: Request Amount
When you are at the location, you will find a BaapATM agent. He or she is there for the sole purpose of assisting you to buy your cryptocurrency. So, you just have to request an amount of DigiByte you want to buy.
Step 3: Pay Agent
The next step is to pay the corresponding amount of fiat (Canadian Dollars) to the agent. The whole thing feels just like buying any other product at a convenient store. The experience is deliberately designed to be this way.
Step 4: Scan Your DigiByte Wallet
After checking the amount that you have paid, the agent then scans your DigiByte wallet.
Wallets are where you store your cryptocurrency. Over the last few years, many wallets have been developed that are super easy to use. Choose any of the below-listed wallets. You will have to take your wallet or the printed QR code of your deposit address to the location.
These are the best wallets for DigiByte :
1. Trust Wallet
Hardware Wallets: (These are physical devices that you need to buy)
Step 5: Confirm Transaction
After the agent has scanned your wallet, you need to confirm the transaction. This is to ensure that the details are entered properly and there are no mistakes. Just check the number of DigiByte and confirm the transaction. Then the agent will send you the DigiByte to your wallet address.
Step 6: You Got DigiByte- How To Buy DigiByte In Canada is easy with Baap ATM
After the transaction is sent on its way, you get a printed receipt and the DigiByte arrives in your Wallet. This is all there is to it.
So, if you were wondering how can I buy DigiByte in Canada, look no further than BaapATM. We make buying cryptocurrency as easy as buying a physical product. All that while maintaining your security and privacy.