What is BunnyCoin (BUN) Cryptocurrency Beginner’s Guide
Bunnycoin is a decentralized currency based on Bitcoin and inspired by Dogecoin. Bunnycoin functions as a typical cryptocurrency with a lack of centralization or regulation, allowing for low transaction fees and secure peer-to-peer exchange. It hopes to tap into users of Bitcoin looking for coin alternatives as well as appeal to emerging markets around the world.
Cryptocurrency is exploding as a market, and new altcoins are becoming available constantly. Coins that wish to get some kind of traction in the constantly evolving market need to make sure that they stand out, and especially offer something different from that of Bitcoin, which is the community standard. Bunnycoin already differs from Bitcoin in basics such as offering a more advanced security algorithm, faster transaction times, and improved user-friendliness.
What makes Bunnycoin truly stand out, though, is that it is a charity-minded cryptocurrency. Users can ensure donation to charities all across the world through purchasing, mining, and holding Bunnycoins. 10% of coins mined will be set aside to be donated to user-appointed charities.
Charities and Community
Members of the Bunnycoin community are able to vote on what charities and non-profits will be eligible to receive donations. In order to participate in community voting, users must first download the Bunnycoin wallet and donate the smallest increment or bigger of a coin to the Bunnycoin charity voting wallet of choice. Each Bunnycoin donation done in this manner counts as one vote towards that charity. Every week, 10 top voted charities will be selected via an algorithm to receive the 10% charity bounty generated by mining. The 1st voted charity will receive 5%, 2nd place will receive 1%, and the remaining charities will receive .5%. To avoid fraud, coin distribution is carried out via algorithm.
Charities cover anything from helping with world hunger, animal rescue and rehabilitation, and educational support. Bunnycoin’s intent is to help charities and nonprofits the world over with the help of its adopters while also assuring wide distribution of the currency.
The Bunnycoin cryptocurrency, BUNN, can be obtained three ways. The first is, of course, to purchase coins via an exchange platform. The simplest way to purchase Bunnycoins are with Dogecoin or Litecoin, but Bunnycoin hopes to one day support exchange from fiat currencies.
The second way Bunnycoin can be acquired is through mining. Bunnycoin blocks are generated every 60 seconds.
Lastly, Bunnycoin can be earned. The Bunnycoin team hopes that over time many opportunities will arise that will allow Bunnycoin to be used to hire people to perform tasks and jobs, and Bunnycoin will facilitate this by compiling working opportunities for users.
Users also occasionally can win Bunnycoin through contests on social media.
While Bunnycoin may share properties with other cryptocurrencies on the market, it stands out as one of the first to organically tie in a charity-driven community within its distribution. By encouraging users to vote for and give to charities, Bunnycoin hopes to become a popular cryptocurrency alternative.