How to get NXT coins? Introduction to several ways to get NXT coins

To obtain NXT coins, users can participate in block forging (PoS mining), trade on cryptocurrency exchanges, or stake their coins through NXT services.

Oct 01, 2024 at 09:05 pm

How to Obtain NXT Coins: Various Methods

NXT, formerly known as NextCoin, is a proof-of-stake cryptocurrency that utilizes the Peercoin codebase. Here are several methods to acquire NXT coins:

1. Mining (PoS)

Unlike traditional proof-of-work (PoW) mining, NXT employs a proof-of-stake (PoS) consensus mechanism. Users with a stake in the NXT network (holding coins in a wallet) can participate in block forging to earn rewards. The more NXT coins a user holds, the higher their chances of forging a block and obtaining rewards.

2. Trading on Exchanges

NXT is traded on various cryptocurrency exchanges such as Binance, Bittrex, and HitBTC. Users can purchase NXT with fiat currencies (e.g., USD, EUR) or other cryptocurrencies (e.g., BTC, ETH).

3. Staking through NXT Services

Several NXT services offer staking pools, where users can pool their NXT holdings and collectively forge blocks. This option reduces the minimum required NXT balance for participation in block forging.

4. Earning from NXT Rewards Programs

Some NXT-related projects offer rewards programs where participants can earn NXT coins by performing certain tasks, such as promoting the project on social media or contributing translations.

5. Participating in Airdrops

Occasionally, NXT or NXT-based projects conduct airdrops, where they distribute free NXT coins to eligible recipients. These airdrops typically require users to perform specific actions, such as joining a Telegram group or following a project on Twitter.

6. Receiving NXT as a Payment

NXT can be accepted as payment for goods or services. Users can receive NXT from others who hold the currency and are willing to use it for transactions.

7. Buying from OTC (Over-the-Counter) Brokers

Over-the-counter (OTC) brokers facilitate direct transactions between buyers and sellers of NXT. This method is typically used for larger transactions and can provide more privacy compared to exchanges.