This article will cover how to buy VideoCoin (VID) and what it is.
What is Videocoin?
Videocoin (VID) is a decentralized cryptocurrency that provides anonymity and privacy to its users. The VID token will be used for various services within the Vid ecosystem, including the purchase of content in the marketplace.
VideoCoin is based on open-source, peer-to-peer, blockchain technology. The hardware used by VideoCoin uses proprietary algorithms that are optimized for video and image encoding, decoding, and processing with a throughput of up to 10 Mpbs per second. This allows VideoCoins to be scalable to all future innovations in the industry.
VID will work across a variety of devices such as laptops, watches, mp3 players, and other mobile devices that can display short videos. This would allow VID users access to their encrypted content in a manner that gives them control over where they share it or who has access without having access barriers such as geolocation (how much bandwidth/storage you have available) blocking their content from being shared.
VideoCoin is a decentralized, peer-to-peer marketplace for content distribution and monetization that leverages the power of stakeholder incentives to facilitate the production and distribution of the video. Using their token technology, VideoCoin allows video producers to bypass corporate intermediaries such as YouTube or Netflix, creating greater efficiency and providing better pricing. This represents an alternative revenue stream for content owners who are increasingly facing challenges from centralized entities that restrict access to their market opportunities.
In the near future, VID will be able to be used across all kinds of platforms where personal videos get stored whether it’s on your home computer/server setup or on some cloud storage provider you use and ultimately even using VIDs for digital commodities (virtual goods) which can be used in video games and other applications.
VideoCoin (VID) Use cases
Users can also use Videocoins to buy services such as:
processing power for mining other coins
buying content such as videos, images, and music.
The VID token will certainly be a common currency used on the platform since it is not issued by anyone but created from a decentralized blockchain system. It offers anonymity and privacy features which are greatly needed in today’s society with all of the data breaches occurring on an almost daily basis in various industries including retailing, banking, healthcare, etc… The company has already raised $11 million through its ICO (Initial Coin Offering) with over 20K contributors worldwide! This demonstrates that there is a great interest in this project among investors who see potential in achieving something truly revolutionary.
* ICO (Initial Coin Offering): A crowd sale of the project’s digital tokens for future use on a decentralized application to raise funds in order to cover various development costs such as software production or marketing campaigns etc.. The company may release its own cryptocurrency with an initial coin offering event where investors can buy coins that will be used by the network
Who is the team behind VideoCoin (VID)
The team behind this project includes experts from both the software development side as well as marketing and business management skillsets with over 20 years of combined experience building online systems and managing multi-million dollar companies. They have already successfully launched an ICO campaign raising $11 million in just three weeks! It’s amazing how such a small company has so much potential when they are able to offer something really revolutionary which can help people regain their sense of security thanks to the full data protection features it offers…
This demonstrates once again that there is huge interest in this project and that investors see potential in achieving something truly revolutionary.
Create an account with your email address, then confirm it by clicking the link in a confirmation email they sent you. Your username is case sensitive so be sure to remember which capitalization you use when entering it! Clicking “Forgot Password?” will send instructions to your inbox about resetting your password if that happens.
After signing up, click ‘two-factor authentication’ under profile settings and configure Google Authenticator or Authy app before proceeding further. This feature protects against hacking attempts as well as credential theft (e.g., someone accessing accounts using a phone number). It’s more secure than just a username and password.
We now need to deposit BTC into our account by clicking on the “Deposit” button at the top of the page where it says “Bitcoin (BTC)”.
After depositing funds, we can buy VID tokens! Clicking ‘Market’ under BTC/VID will allow us to trade Videocoins for Bitcoins.
Can I buy VID with cash?
No, Videocoins (VID) can only be bought with BTC at this moment but you can buy bitcoin first and buy VID with that.
Withdrawals can be completed by clicking on “Assets” and then selecting “Withdraw”. Enter the amount of VID that should be withdrawn and click “Confirm” to confirm the withdrawal request. You may be asked to provide contact information in order to complete a successful withdrawal, so make sure your email address is up-to-date! There are also limits set on withdrawals which vary depending on how long the account has been active. With time these limits will increase making it possible for accounts of all types of duration to limit their withdrawals if they choose to do so. This security measure aims at protecting users’ funds in case of an account getting hacked.
How to withdraw VideoCoin (VID) from MyEtherWallet:
To withdraw VideoCoin (VI), go to the “Withdraw” tab on your wallet and enter the amount you would like to send into the field provided. When ready, click “Send Transaction” and select a gas limit for your transaction.
How to store VideoCoin (VID) safely and securely
Storing VideoCoin (VID) safely and securely is as simple as ensuring that your wallet software is up-to-date with the latest security measures which you can do by clicking on “Settings” from within the Bittrex interface.
Here are some helpful tips to ensure safe storage:
Store only what you’re willing to lose in an exchange or online service.
Do not share passwords, private keys, access details, etc., for any of your accounts – crypto or otherwise. This rule applies even if someone asks nicely! The safest way to store information like this is either using a password manager such as KeePassXC or LastPass (or just memorizing it!)…
Use two-factor authentication (e.g., Google Authenticator) to protect your account against credential theft and hacking attempts.
Do not use SMS or email for two-factor authentication – hackers can easily spoof these! The safest way is to set up an authenticator app such as Authy.
Keep personal data secure by using a VPN when accessing exchange interfaces remotely, on public WiFi networks, etc.; try Hotspot Shield free version with 500MB/day bandwidth limit if you’re traveling…
In addition: If the risk of loss due to hacks seems too high in general, it’s worth considering storing crypto offline in cold storage wallets like Trezor or Ledger Nano S, or Ledger Nano X.
Ledger Nano X
The safest way of storing your coins is always putting them into a type of “Cold Wallets”, where the wallet will only have access to the blockchain when you send out funds. Hardware wallets are usually USB-enabled devices that store key information of your wallet in a more durable way. They are usually built with military-level security and their firmware is constantly maintained by their manufacturers. Ledger Nano S and Ledger X are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are definitely a good investment in our opinion. If you plan to keep these wallets safe, you may want to explore ways of keeping them safe…
Wrapping things up
We have now covered everything from the initial crypto purchase with fiat deposit to the crypto exchanges/altcoin exchange where you use your exchange wallet to both transfer funds and trade BTC for VID. Make sure to use account verification when you log in to popular crypto exchanges and the encrypted VPN connection when you are on the run and want to exchange crypto fast, it’s all about the smooth and secure connection.