How to buy DigiByte online

Buy Digibyte online

DigiByte was created to compete with major cryptocurrencies by prioritizing scalability and cybersecurity. 

This guide will help you understand the foundations of the token and how you can buy DigiByte in 2021. 

Best platforms to buy DigiByte – 2021

1
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Minimum Deposit
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What is DigiByte?

DigiByte is a software launched to improve cybersecurity and scalability for cryptocurrencies. It competes against major currencies such as XRP and Litecoin. To reach its goal, the platform has implemented several additional features that are not available elsewhere. These features allow users to create digital identities, launch applications and issue assets of their own. Its protocol is also built to leverage several mining algorithms and enforce a monetary policy with a limit of 21 billion DGB coins. 

The cryptocurrency was launched in 2014 by Jared Tate. At the initial launch, DigiByte released 0.5% of its total supply in a giveaway. Half of these helped fund the initial 18 months of development, whilst the other half went to early users. 

Although DigiByte aims to distinguish itself with advanced security and scalability protocols, it also uses some features utilised by its competitors. For example, its native token, DGB, is used to incentivise individuals who help operate the network and is used for smart contracts and payments. One way DigiByte distinguishes itself is through its YouTube page. Whilst some cryptocurrencies may use a blog, DigiByte keeps its users informed with regular videos. These videos cover briefings, interviews and updates on an ever-evolving network. 

The currency is supported by three separate groups. The first group are open-source developers. These developers are volunteers who peer-review each other’s work, contribute with code and help with app development. The second group is the DigiByte Foundation. This non-profit organization supports development, research and marketing of DigiByte. The final group is the awareness team. This team focuses on press releases, social media (such as their YouTube account) and marketing. Together, they push the development of the cryptocurrency. 

As of August 2021 DigiByte has a market cap of $949,584,037, with 14 billion tokens in circulation. In total, 21 billion tokens will be released and will have a fully diluted market cap of $1,362,111,471. DBG has reached highs of $0.15 and currently costs $0.06 per token. 

Buy DigiByte now at our preferred partner

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pros

  • DGB is very decentralized. It can also be mined by several different hardware types which makes it popular amongst investors and miners. 
  • DGB also offers faster transactions when compared to most cryptocurrencies. Transactions take on average 15 seconds, which makes the currency ideal for small payments. 

Cons

  • The biggest downside to DGB is that it’s quite hard to actually buy tokens. It’s not available on many popular exchanges and must be stored in a DGB wallet. This makes it hard for investors to hold and too complex for new investors. 

How does Digibyte work?

DigiByte helps cryptocurrencies optimize their security and scalability. It also allows software users to design decentralized apps for customers using its own suite of smart contracts. The blockchain is broken down into several layers. 

Application layer: This is the layer where anyone can interact with the cryptocurrency and access DigiByte apps. 

Consensus layer: This layer records transactions and allows miners to manage their lease.

Network layer: This is the foundational layer. It defines the communication and operating procedures of all devices on the software. 

To keep its network functioning, DigiByte uses a variation of Bitcoin’s Proof-of-Work (PoW) consensus mechanism. This PoW variant is used by computers running DigiByte’s software to secure the network, validate transactions and earn DGB. This can be done with a standard computer, which makes it accessible for new miners. 

The software is continuously being updated to improve the customer experience. For example, developers are now able to create customizable crypto assets on its blockchain. They can represent legal documents, traditional financial assets and create a range of other alternatives. Updates on any changes can be found on the Digibyte YouTube channel. 

Now that you know what DigiByte is and how it works, you can use one of the brokers above to buy DigiByte. However, if you’re still unsure on how to get started, continue reading!

How to buy Digibyte online

DigiByte is different to most cryptocurrencies as it can only be stored using an official Digibyte wallet.

Here’s a step-by-step guide on how to buy Digibyte online:

  1. To buy DigiByte you will need to create an account at Coindirect and you will automatically get a free DigiByte online wallet. You can also sign up for a wallet on the DigiByte website. 
  1. On Coindirect, make sure your account is funded and search for DGB. 
  1. Select the number of tokens you want to purchase and click “Buy”. Then head over to your DigiByte wallet, your tokens should appear there. 

Congratulations, you’ve just bought your first DigiByte!

Top platforms to buy DigiByte

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

How to trade Digibyte

As DigiByte is only available in its own unique wallet it is not currently traded. You can use DigiByte on the official website, however it has no use outside of that.