The Nxt Cryptocurrency & Real Life Use Cases

in cryptocurrency •  3 years ago 

I think one of the keys to the success of any cryptocurrency is its use in real life. And Nxt is being used in a bunch of ways.

The use case that originally got me interested in Nxt was its use by the National Settlement Depository (NSD) in Russia. That’s the equivalent of the US’ Depository Trust & Clearing Corp. (DTCC). The NSD is using Nxt for eProxy voting. You can read about it here and here. Voting is just one application. I could see Nxt being used for clearing and settlement as well.

Coinoutet, a bitcoin ATM provider, uses the Nxt platform. It’s a neat use case of how bitcoin 2.0 technology can work with bitcoin.

Being election season Democracy Counts Vericount electronic audit system should come in handy. It’s a voting system on the blockchain that enables free and fair elections devoid of voter fraud. And it’s all done on the Nxt blockchain.

Then there’s Nxtty which is an encrypted messaging system built on Nxt. There also a Nxtty coin which can be used for tipping and crypto gaming.

Here is another company using Nxt in an interesting way, Liquid Technologies, which uses the Nxt asset exchange to run a cryptocurrency fund. And powered by trading bots no less. It has a 50% ROI as of June 2016!

These are just a few of the real life use cases for Nxt. With the upcoming Ardor ICO coming up it’s one of the more exciting cyrptocurrencies. And with a market cap of $30 million I think it’s worth a speculative investment.


If you’re interested in Nxt check out my previous articles:
Nxt cryptocurrency, what is Nxt?
Nxt and proof of stake
The features of Nxt
Nxt and the Ardor ICO


How to Get Nxt
You’ll want to start by getting yourself some bitcoin. I use Coinbase
Then you’ll need a Nxt wallet. You can get one at MyNXT.info
One way to purchase Nxt is through a cryptocurrency exchange such as Poloniex. You transfer bitcoin to Poloniex and then buy Nxt on the exchange. For safety keep the Nxt in your Nxt wallet.
The other option is to use ShapeShift. It’s a way to exchange cryptocurrencies without signing up for an exchange.
#cryptocurrency #Nxt #blockchain #crypto-news #money

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Thanks for the post. (It is always a nice move to tell people when you're using a ref link.)

Very good article. Same thoughts here. Blockchain is here to stay, therefore we shouldn't look at what most people invest in but in the real quality projects, with great teams, management and a great product. Some people are still investing in "an idea". Is an Idea worth 100m+ USD to you? Besides coinmarketcap.com there is: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market.