DubaiCoin price is $1.25
As of today's date, the current price of DubaiCoin (DBIX) is $ 1.25. Over the last 24 hours, the price has increased by approxiamately +1236.00%. This fluctuation is typical in the highly volatile and dynamic world of cryptocurrencies.
DubaiCoin (DBIX) is a type of cryptocurrency that operates on a blockchain platform. Just like other cryptocurrencies, it's a digital or virtual form of currency that can be used for online transactions. However, what distinguishes DubaiCoin from the rest is that it's the first decentralized currency launched in the Dubai region, hence the name DubaiCoin.
DubaiCoin was launched by an innovative tech company named ArabianChain, hence it's often used interchangeably as ArabianChain DubaiCoin. The people behind ArabianChain and DubaiCoin saw the potential of using blockchain technology for their digital currency and decided to launch it to make transactions easier, safer, and more secure within the Dubai region and beyond.
DubaiCoin works on a blockchain, just like other popular cryptocurrencies. This blockchain platform maintains a decentralized and distributed digital ledger that records all DubaiCoin transactions across many computers globally. This structure ensures that any transaction data is not only virtually tamper-proof but also transparent which creates trust among users.
DubaiCoin makes use of the Proof of Work (PoW) consensus algorithm for its blockchain - the same algorithm used by Bitcoin. PoW requires solving complex mathematical puzzles to validate transactions and create new blocks in the blockchain. This makes DBIX's blockchain highly secure.
What's more, DubaiCoin is not just a solely a cryptocurrency, but it's also a portal to digital transactions and smart contracts. These smart contracts automatically execute when the conditions in the agreement are met, reducing the need for a middleman in various kinds of agreements and contracts.
As of today, the circulating supply of DubaiCoin is 4.3M, while its total maximum supply limit is 4.3M. This supply is quite dynamic due to various factors including but not limited to the demand, transactions, and the rate of new coin generation.
DubaiCoin can be purchased from several known cryptocurrency exchanges. Currently, it is listed for trading on HitBTC, Cryptopia. As a potential investor or user, you can set up an account on these platforms, deposit some funds (usually in Bitcoin or Ethereum) and then proceed to exchange these for DubaiCoin. Remember, it's important to do your own due diligence before investing in any digital asset.
In terms of safety, it is crucial to be mindful of the usual security practices that apply to any cryptocurreny. These include using secure and reliable wallets, keeping your private keys confidential, using two-factor authentication (2FA), and transacting only through trusted platforms.
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