publish2018-04-27 1:44 pm

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Diamond DMD Review

Diamond coin is also known as DMD. It is an ultra secure, ultra valuable and ultra scarce cryptocurrency. It is a smart investment opportunity for people who want an alternative for other cryptocurrencies that are widely available in the market. However, this system makes use of Masternode technology and advanced security algorithm as well as it has a rare digital currency and rewarding financial system.

Diamond dmd review

How It Works?

One of the first that new users encounter after stepping into the world of cryptocurrencies is mining. Well, many of us are now involved in crypto from last few years and tried some kind of proof-of-work mining before, either by using mining rigs, ASIC or even USB mining. However, these were very popular some time ago. The major reason behind the process of mining is very simple: in order to get more coins and to get more profit. The classic PoW mining has various negative externalities. First of all, it needs expensive and often rare hardware for mining. Secondly, it consumes great amount of electricity which in turn increases your electricity bill. Third, it produces a large amount of heat and noise while operating. Consequently, not everyone is able to run successful mining operations in the long run. Luckily, there is another way to mine crypto and generate profits without facing any kind of negative effects associated with PoW mining. However, proof-of-stake or PoS is one of the most common and a popular alternative for mining and this is the reason why Diamond Coin is one of the oldest and most famous.

 Goal of DMD

Diamond coin or DMD hopes to provide users with an option to achieve their financial freedom. However, every Diamond coin will become an asset that will earn interest at a high rate annually. It is an advanced coin that works in the modern age and it aids to store value in such a way that is supported by infrastructure, network services and protocols. However, this coin isn’t only valuable but it is also incredibly fast, secure as well as ecological.

what is diamond dmd

How Old Is DMD?

However, most of the cryptocurrencies are almost new which makes them risky to invest in them but DMD has a long history. This coin has already experienced continuous growth from last five years and therefore it is among the oldest proof-of-stake coins. It has not encountered any major scam or crisis during this time period. During these five years, it has experienced continuous growth from a highly experienced and reputable team. However, the community itself is also growing with time, and every single feature of this project is transparent.

How To Mine DMD

A unique feature of this coin that helps to make it unique from other options is that it has options for both PoS and Masternodes. However, PoS is comparable to mining but it doesn’t really need any huge investment on your part when it comes to hardware, graphics cards, or ASIC. You will only need to buy the coins and then store them in your wallet. You will need to ensure that your wallet is open for staking and then these coins will stake and generate new coins. You will be surprises to know that the coins will mature within just a single hour by making use of PoS process. Above all, any coins stored in your wallet will also earn interest and they will generate new coins in a cycle that will be helpful to increase your wealth. In order to get the best results with PoS, you will have to store at least 250 DMD in a single DMD pile and keep your machine online for every time. It will let the wallet run all the time and you will earn money constantly. Generally, you will periodically get new coins as a way to reward you for supporting this network and leaving your wallet connected with the network. This is really profitable, and you can expect getting 20 to 25% annual return for your investment by participating.

Another option to gain profits on this network is DMD Masternode system. It is also very profitable and returns over 25% every year for your contribution. It will be dependent on the number of Masternodes that are active as well as the actual reward for every block. This investment option was introduced in 2017 and it just needs a static IP address and 10 thousand DMD. However, this Masternode system generates regular passive income and it is ideal for people who like to set their system for earning in the long term. It will be able to generate income for years if you’ll keep it online.

You can also combine DMD income from Masternodes if you want, you can do it with that of staking. You need to set up the Masternode so the reward you’ll get from it will go to your staking wallet. In such way, your DMD income from the Masternode will keep on growing through staking and this is what the brilliant DMD holders are actually doing.

diamond dmd mining

How Cloud Mining Works?

DMD also offers cloud mining in such a way that it is different from the cloud mining of other cryptocurrencies. It is different in such that that you will get a regular and tension free stream of DMD coins. This system is actually set up in such a way that you will get increased DMD payouts until you will reach you ROI which is 5 times until you ROI. However, once you will hit the return for your contribution, you will get the payouts at the standard 1x rate. This system is designed to make sure that every miner will get back their money as early as possible. However, it is a long term project that is designed for supporting DMD by producing additional demand for the coins and you shouldn’t expect getting rich overnight with DMD. Well, you will be able to see quite satisfactory profits after a specific time. As you will contribute to this cloud network, you will get payouts on regular basis in your DMD wallet. However, these coins will stake additional profits for you also.

Where To Buy?

Well, it is great long term opportunity to invest in this coin and generate profits over time. However, in order to being your investment in Diamond Coin, you will need to visit exchanges where it is available. Currently, Livecoin and Bittrex are recommended for buying this coin. However, daily trading liquidity of this coin is more than enough to buy or sell your coins. Its trading liquidity increases as the price of DMD increases.

Wallets to Store Your Coins

It is obvious that you will need to store your coins in a wallet. However, you can download a wallet to store your coins from the official website of Diamond Coin. You will be able to download wallet for various operating systems like Linux, Windows and Mac. However, you can also store your coins in a mobile wallet like Coinomi which is a free and secure Android and iOS wallet. Currently, it supports more than 100 cryptocurrencies.

Diamond or DMD coin is an easy way to send and receive money which reduces the cost that is charged by the physical banks. However, it is safe, secure, fast and reliable platform which is getting recognized slowly as a feasible cryptocurrency.

Here are different specifications of this coin:

  • It works on the Grostl Algorithm which is ASCI resistant.
  • It has released over 438 million coins till date.
  • It charges a very low transaction fee of around 0.0001 coin.
  • It needs 6 different confirmations in order to make a transaction secure and fast.
  • It sends a message to the user for every completed transaction.

Mining Pools

This currency allows the users to create a mining pool. It will prevent the user from waiting for a very long duration, sometimes for days, in order to generate a network supported reward. This mining pool can be accessed by a group of different users which in turn will share the reward among themselves according to their contributions.

It has a multi mining tool which helps the users to mine DMD on various locations. It will increase the chances to achieve higher returns in the form of Diamonds. At the end of month, the company also offers hefty rewards for its users.

You can buy this cryptocurrency online and offline. It will totally depend on the preference of a user. However, the most preferred way that is used by the buyers extensively is that they trade their DMD online. It works under a process of counterbidding and bidding. It is done in order to get the best possible price that a user may acquire for any amount of DMD that he keeps.

Trading DMD

Once a customer will gain access to the Diamonds, he will be able to use it for his fantasies and whims. However, this is only limited to the merchants that accept cryptocurrency.

After owning some Diamonds the user will have to transfer it to traders that are having possession of e-wallets to store such cryptocurrency. However, the user will also have to possess an e-wallet in order to send or receive payments in Diamond coins.

diamond dmd trading

Markets to Buy DMD

If a user wants to buy Diamonds from an exchange, he will need to buy Bitcoin on Coinbase for fiat currency and after exchange it on DMD on Bittrex. However, according to his requirement he will then be able to place his bets and wait for them to either get approved or rejected.

What People Say On Reddit

DMD has a growing popularity on Reddit and people are contributing regularly to share their experiences with each other. However, there are many people that recommend this coin for long term investment. Those who are eager to become rich overnight are not recommended to invest in this cryptocurrency. It makes use of a secure algorithm to process transactions. This platform offers annual benefits for the regular users. This coin is available at different exchanges at the moment and people are looking forward to invest in this form of crypto.

At the time of writing this article, it has over 439 users on Reddit and almost every person is happy to invest in this platform as it offers huge rewards for the users that are looking forward to a long term investment.

Conclusion

We have a few misgivings about DMD as a cryptocurrency, construct squarely in light of the abnormal, convoluted way that it’s made accessible to people in general.

Almost every advanced coin deserving at least moderate respect makes itself accessible to be mined specifically by individuals interested in accruing the benefit. However, DMD isn’t specifically mineable – the DMD mining pool requires participating individuals to mine a different computerized money, dispatch it to the company, and after that get a proportionate measure of DMD in turn. At the end of the day, the DMD Foundation controls get to totally to new coins that aren’t being effectively exchanged on a trade.

This doesn’t sit well with us. Having brought together control of a cryptocurrency makes it too simple to control its price and participate in pump-and-dump plans, which is the thing that we stress over with regards to DMD. Guarantees of 25% interest rates on DMD held in advanced wallets notwithstanding, it’s somewhat of a warning – an additional 25% in yearly interest on a computerized cash that merits nothing is as yet nothing.

This is fairly relieved by the way that DMD isn’t restrictive – it’s exchanged on the open market – and that it has shortage made into it by capping the aggregate number of tokens that will exist. However, despite everything we don’t comprehend why DMD can’t just be mined straightforwardly by independent miners instead of having it distributed in return for computerized monetary standards that have been mined.

It appears like a pointless layer, one that impedes transparency, and gives an excessive number of chances to price control by terrible actors. If you’re interested in investing in DMD, remember these conceivable outcomes and tread precisely so as not to open yourself to undue risk.

Links:

Webiste – https://bit.diamonds/

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