Partnerships
While it hasn't landed any major, big-name partnerships, DigiByte is working with a variety of organizations. Here are a few examples:
- AntumID, a blockchain-powered password manager, is powered by DigiByte's Digi-ID authentication technology.
- LCX, a crypto exchange, has partnered with the DigiByte Foundation and will use the DigiByte blockchain within its ecosystem.
- RoundlyX, a roundup tool for investing spare change in cryptocurrency, offers DigiByte as one of the cryptocurrencies users can buy.
- D'CENT Wallet, the manufacturer of a hardware wallet, is an affiliate of the DigiByte Foundation and allows customers to donate $15 of their wallet purchase to the foundation.
Unique risks
DigiByte doesn't have any glaring weaknesses in its technology or functionality. It's secure, and it works as advertised.
The biggest problems are a lack of widespread awareness and adoption. Despite how long DigiByte has been around, it's not a well-known project. A good portion of crypto investors probably haven't even heard of it.
That's a consequence of its highly decentralized nature. There's no marketing department getting DigiByte's name out there. The entire project is very much a grassroots movement. And, even though it can be used for building dApps, other blockchains have far bigger ecosystems with various projects.
Related investing topics
Is DigiByte a good investment?
DigiByte is a quality blockchain project. It's a good way to invest in cryptocurrency if you're looking for a smaller project with proven staying power. Even though it hasn't broken into the top cryptocurrencies, it has a strong community, and it has remained an active project for years with no central authority managing it.
When you look at DigiByte, it has everything it needs to compete with the latest blockchain projects. It's not the absolute fastest blockchain, but it is fast, and it doesn't sacrifice security. In fact, its proof-of-work system makes it one of the most secure blockchains you can find.
With its smart contract functionality, DigiByte has lots of potential uses. Developers could use it to create decentralized finance (DeFi) services. It can also be used for minting and selling non-fungible tokens (NFTs) and for blockchain gaming.
DigiByte is most well-suited for patient investors. It's best not to expect explosive growth with any cryptocurrency investment, but that's especially important with DigiByte. This project doesn't generate much hype and normally takes a more measured approach.
How to buy DigiByte
Not all crypto exchanges carry DigiByte, especially the ones that are licensed in the United States. There are some platforms that have it, though. Here are three of the best places to buy DigiByte:
(If you're a U.S. resident, Binance isn't available; you’ll have to buy it from Crypto.com or Bittrex).
Now that you've learned more about DigiByte, you can decide if you're going to invest in it. If you do, remember that cryptocurrencies can be volatile, so the price could change quickly. That's why it's important to be patient and to look at it as a long-term investment.
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