PKT (PKT Cash) is a cryptocurrency designed for microtransactions with near-instant settlement and near-zero gas fees. It powers the PKT ecosystem, which includes a decentralized bandwidth-trading marketplace, and is used for various utility payments such as internet access, high-speed VPN, and e-commerce transactions. Miners are incentivized to support the network through the PacketCrypt proof-of-work algorithm, which rewards them in PKT.
PKT Cash is a cryptocurrency designed for microtransactions with near-instant settlement and near-zero gas fees. It is the fuel powering the PKT ecosystem, which includes various use cases such as:
- PKT VPN: A decentralized VPN service using peer-to-peer cjdns technology, ensuring end-to-end encrypted data transmission and connectivity.
- PKT Websites: Users can host websites within the PKT Network, which are censorship-resistant and accessible through IPv6 URLs. These websites can also use their IPv6 URL as a PKT payment address for payment processing.
- Bandwidth Marketplaces: The project aims to create a decentralized marketplace where internet operators can buy and sell tokens representing bandwidth leases, allowing for decentralized internet access.
PKT Cash is earned by miners who run the PacketCrypt proof-of-work algorithm, which incentivizes them to support the network. The cryptocurrency can be used for various transactions within the PKT ecosystem, such as payments for internet access, VPN services, and e-commerce use cases. Additionally, the PKT Lightning Network integration enables near-infinite transactions per second and near-instant settlement.
To store PKT (PKT) tokens, you have several options:
Crypto Exchanges: You can store your PKT tokens on the exchange where you purchased them. This is a convenient option as it requires minimal setup and allows easy access to your tokens. However, it is generally recommended to move your tokens to a more secure wallet for long-term storage.
Hot Wallets: Hot wallets are online wallets that allow quick and easy access to your tokens. You can set up a hot wallet like MetaMask, which supports BEP20 tokens, including wPKT. This method requires KYC verification and setting up the wallet with the correct blockchain details.
Paper Wallets: Paper wallets are a low-tech, offline storage option. You can generate a paper wallet using a secure computer and a paper wallet generator site. This method is more secure but less accessible than hot wallets.
PKT-Specific Wallets: There are wallets specifically designed for PKT tokens, such as the Pkt.World wallet, which can be used on various operating systems and even has a built-in miner. Other options include the Electrum wallet, Command Line Wallet, and Zulu wallet.
Hardware Wallets: Cold storage options like hardware wallets provide the highest level of security but are less accessible than hot wallets. They are ideal for storing large amounts of PKT tokens.
Regardless of the method you choose, it is crucial to follow best practices for securing your wallet, such as using strong passwords, keeping your private keys safe, and regularly updating your wallet software.
To buy PKT tokens, you can follow these steps:
Choose an Exchange: Find a reliable centralized exchange where you can buy PKT. You can refer to CoinMarketCap.com for a list of exchanges that support PKT trading.
Create a Wallet: Ensure you have a PKT wallet that can safely store your PKT tokens. Different wallets work for different operating systems and mobile devices.
Peer-to-Peer Trading: You can also engage in peer-to-peer over-the-counter (OTC) trading using escrow services, which are active in the PKT Trading Group on Telegram. Follow the instructions in the chat group to trade safely.
- Wrapped PKT (WPKT): If you want to access decentralized finance (DeFi) opportunities, you can buy Wrapped PKT (WPKT) on PancakeSwap. To do this, you need to:
- Create a MetaMask Wallet: Download and set up MetaMask, then add the Binance Smart Chain (BSC) network to your wallet.
- Purchase BNB: Buy Binance Coin (BNB) from exchanges like Binance, Kraken, or Kucoin, and send it to your MetaMask wallet.
- Buy WPKT on PancakeSwap: Connect your MetaMask wallet to PancakeSwap, then trade your BNB for WPKT.
Remember to follow the specific instructions for each step and ensure you are trading safely.