What is BigUp (BIGUP) Crypto Beginner’s Guide
BigUp is a cryptocurrency. 4 billion tokens were created. 919 million of these tokens were sold during the ICO. About 2.58 billion of these tokens were destroyed. 500 million of these tokens were allocated for developers. Another 400 million tokens are reserved for other uses. The ICO was held in March of 2016. The price of one token during the ICO was $0.00000001.
BIGUP is a lifestyle token. Users are encouraged to join a forum and take part in the digital community. The currency will bind users and create a digital world that is just as real as the real world.
Trading BIGUP Tokens
BIGUP tokens are traded on one exchange – CoinExchange. BIGUP tokens are paired with BTC and DOGE tokens. BIGUP has a market capitalization of $304,479. Daily trading volume is $1,145. 2.138 billion BIGUP tokens are in circulation.
Recent trading data indicates volatile trading. The value of BIGUP consistently spiked and dropped over the past eight months. It reached a peak of $3.3 million in January, but dropped to $210,000 by March. It jumped over the $1 million mark in April. There was another month of low trading before BIGUP surpassed the $1 million mark again in May. BIGUP’s value remained close to $500,000 for the summer. Currently, it is ranked 968th among all cryptocurrencies by market capitalization.
Get a Digital Wallet
A digital wallet is required to use the tokens. There are several versions of the digital wallet. There is a version for Windows, Mac, and the web. There’s a paper wallet as well. Banana-pi and Raspberry-pi versions of the digital wallet are available for download too.
What is Proof-of-Stake?
This currency is generated through a Proof-of-Stake mechanism. This method restricts users by the amount of tokens they hold. They will only be able to mine a certain amount of blocks (verify transactions). This amount is dependent on the number of tokens they hold. If they hold 2% of available tokens, then they are limited to mining 2% of the blocks on the ledger.
Proof-of-Stake is an energy-efficient method of mining. The alternative verification method, Proof-of-Work, requires electricity that is equivalent to the power needed to run 1.57 American households for one day. This is the amount of energy needed to process one Bitcoin transaction.
Proof-of-Stake is a secure mining method as well. The user has a stake in the network since they own tokens. It’s unlikely that a user would attack the network since they own a share of it. Their earnings would fall as a result.
This is another cryptocurrency that is designed as the basis for a digital community. Users will be able to interact with each other through an online forum. They can share trading information, but the goal is to create a group of people with the same motivation and lifestyle. Eventually, an ecosystem of goods and services will form around this group and create growth for this digital currency.