Nimiq Cryptocurrency

Who Is Nimiq Cryptocurrency?

Nimiq Network   

Have you heard of Nimiq Cryptocurrency? Well neither had I until I watched a YouTube broadcast by Coin Bureau about 6 months ago. To be 100% honest, I had forgotten all about this currency until recently when I noticed it being suggested by yet another YouTube Channel. With occasions like this occurs, I usually decide to do additional research into the project to see if it is worthy of my attention.

    Nimiq Cryptocurrency  which is traded under the symbol Nim is based on blockchain technology that is intended to be used for currency. The technology behind Nimiq is focused on decentralization and being resistant to censorship. This project uses blockchain technology similar to Bitcoin, but was designed to run on a computer browser. Because Nimiq has been designed to function within the browser window, it allows ease of use which is essential for adoption.

    This crypto project is intended to be currency. Not all blockchain projects are intended to be cryptocurrency and this can cause confusion for many novice beginners as adoption takes place. Nimiq Cryptocurrency allows its users to pay online, transfer funds internationally, receive donations, storage of funds, and etc.

     You are probably thinking how does Nimiq work and what makes it special? Nimiq Cryptocurrency is a browser based blockchain which allows for friction-less payment protocol. From its inception, Nimiq Cryptocurrency has been designed to work with the newest web based technologies like IndexedDB, JavaScript, WebAssembly, and WebRTC. In laymen terms, Nimiq has been designed to run on web browser applications.

Nimiq Cryptocurrency is built upon web based technologies, which allows Nimiq is to be mined through web browsers.  This is quite different than any other cryptocurrency that I have researched in the past. I found this to be quite intriguing to say the least. The set up process for browser based wallet was very easy. It was so easy, I actually thought that I did something wrong. Once the wallet was set up, I received 1 NIM from a crowd funded source.

  Nimiq Mining was equally as easy to set up. I was mining in the matter of minutes instead of days without unsaid amount of funds spent. If you have ever tried building a mining rig in the past, you know exactly what I am talking about.  These projects can become very expensive with little to no return. Nimiq offers its miners the ability to mine on their web browser with little to no effort.  They also offer more complicated mining setups, but this requires downloading proprietary software. 

     I decided to give the advanced mining software a try since I already had experience in mining cryptocurrency. I didn't have much luck with the software provided, but quickly found a YouTube presentation provided by Nimiq that suggested Nimiq Desktop Miner . I had immediate success with this miner, but I soon discovered that my CPU was over heating and I had to lower the settings. If you have never mined cryptocurrency in the past, I suggest using just the browser miner to avoid irreversible damage to your computer.

    Nimiq is currently available on respected exchanges like Kucoin and HitBTC under the symbol NIM. I have never used HitBTC, but I have used Kucoin successfully in the past. If you are going to use Kucoin, I have provided links that will provide a small affiliate reward to True Life Blogs if you decide to use their service.  If not, that is okay to.

    Their are only a few cryptocurrencies with the ease of use that Nimiq offers .Nimiq is currently trading at $0.000663 which makes it quite a steal, but a very high risk investment. At its current valuation, Nimiq Cryptocurrency is an excellent investment for speculative investors. It has a long way to go before it can reach adoption, but if they manage to pull it off, this cryptocurrency will be a game changer. 

     I plan to watch this cryptocurrency closely because they appear to have bright future and may just be the sleeping the giant I have been looking for. Unfortunately, only time will tell. But as the old saying goes "No risk, No reward". Please remember that I am just another person on the internet with a passion for blockchain technology and cryptocurrency. I am not a financial adviser and it is important that you do your own research before making any financial decisions. 

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Cryptocurrency Enthusiast
Cryptocurrency Enthusiast

If you are reading this blog, I am assuming that you have heard of Bitcoin and other cryptocurrencies and would like to invest in the future. Yes, I said invest in the future because cryptocurrency will be the currency of choice in the future. This blog has been created to help others learn more about crypto and the industries that surround blockchain technology.

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