Orchid coin (OXT) is the native token of Orchid, a virtual private network (VPN) operating with cryptocurrency. Launched in December 2019, Orchid describes itself as “the world’s first incentivized, peer-to-peer privacy network.” Orchid’s goal is to overcome internet freedom limitations by using cryptocurrency payments to allow everyone to buy bandwidth from any participating provider. This is done using OXT, an ERC-20 standard token on Ethereum, through very small payments.
In this article, we will cover topics like “Orchid coin Binance, where to buy Orchid coin, OXT Token, OXT, OXT Coin”.
What is OXT Coin?
OXT coin is a cryptocurrency based on the ERC-20 standard. Users gain various advantages on the platform thanks to the OXT token.
Additionally, Orchid platform users only pay for the VPN service while using it and are not charged any participation fee or monthly/annual fees when the service is turned off. Users can also immediately start working with a different provider if they are dissatisfied with providers in the Orchid network. According to announcements, this switch can be made easily thanks to a user-friendly interface. Furthermore, users can run their accounts on different devices and share them with their families or friends, allowing multiple accesses from a single account.
On the other hand, Orchid network, as described, provides a decentralized virtual private network (VPN), allowing users to buy bandwidth from a global pool of service providers. Orchid does this using a digital currency called OXT, a new VPN protocol for incentivized bandwidth proxy, and smart contracts with algorithmic advertising and payment functions. Orchid users connect to bandwidth sellers using a provider directory and make payments using probabilistic micropayments, keeping Ethereum transaction fees acceptably low.
Additionally, OXT is a “pre-mined” cryptocurrency based on the ERC-20 standard, to be used in the Orchid market to establish trust between buyers and sellers. The OXT token also serves as a tool to promote security and healthy market dynamics, as providers can adjust their OXT stakes to increase competition.
Orchid Coin Review
Following its listing on major exchanges like Binance, Orchid coin continues to advance with more reliable steps. Looking at the price chart, investors seem cautious with OXT token, but recent increases in price are evident.
Moreover, due to the innovations and privacy features offered by the platform, interest in the OXT token is expected to increase in the coming days.
Orchid Coin Price
Before answering the question “where to buy Orchid coin,” it’s beneficial to look at the current figures and data of OXT.
According to CoinMarketCap, the OXT token is ranked 91st in terms of market value with a trading volume of 110.794.506 USD. At the time of preparing this article, the OXT coin was trading at 0.3014 dollars, and against Bitcoin, it was trading at 0.00002769 BTC.
Additionally, it’s worth mentioning that OXT hit its lowest at 0.1059 dollars on March 13, 2020, and its highest at 0.9437 dollars on August 16, 2020. Finally, there are currently 367,584,352 OXT in circulation, and the total supply is stated to be 1,000,000,000 OXT.
How to Buy Orchid Coin?
You can quickly and easily purchase OXT tokens through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
