Storj Coin Review
Storj is a project that makes trading crypto easier for everyone. This article will give you a detailed review of the Storj coin.
What is Storj Cryptocurrency?
Storj, pronounced “Storage,” is a file storage system in a decentralized landscape.
Ben Golub, CEO Storj says that Storj’s primary use is in efficiently utilizing the excess capacity of unused hard drives disk space and bandwidth. Data storage is becoming something of an international phenomenon, because people no longer trust the centralized system for file sharing. And people trust giants like Google and Amazon less and less, looking for other cloud storage solutions. Storj aims to make file sharing safer and faster for all users.
Storj can also boast that it is one of the first projects that ever handled storage on the blockchain. It uses file sharing and client-side data encryption to safely store files in a secured manner within a peer-to-peer network.
Storj is an open-source project that provides DaaD (Data-as-a-Service) to a majority of businesses and consumers. Using APIs and other tools, it also helps customers interact with the open-source network. During the Storj token sale in 2017, the company sold $30M worth of Storj ICO. Traders can also sell Storj tokens as utility tokens on the network. These tokens are used to pay for storage requirements.
Back in March 2017, the company made an announcement that they were migrating the Storj network to the Ethereum blockchain, after which they changed the previous Storj cryptocurrency of Storj tokens. Storj Labs minted around 500 million coins to replace the previous tokens. With the wide popularity of the project, Storj investment hopes and Storj stock have marginally risen in the marketplace. With the help of a Storj price prediction, traders are able to make an informed decision on when to trade.
How To Mine Storj?
Setting up a mining rig for Storj coins is quite easy, making the platform much more appealing to invest in. One of the primary reasons why people prefer Storj is its competency.
Initially, you need to find a powerful GPU for the mining process — GPUs with 6 to 8 TB storage. Though internal hard drives cost a lot of money, they are less power consuming, whereas external HDD will consume more power but are more cost-efficient.
Follow the steps below to start Storj mining:
Step 1 – Create A Wallet
The first and most important thing you need to do is create a wallet to store all your freshly minted Storj coins. There are plenty of wallets that you should consider. Find a wallet for Storj and create an account on it.
Step 2 – Download and Install Storj
Now, it’s time to download Storj that suits your operating system. Make sure to download the latest version to avoid any discrepancies. Once you download the file, install it at the required location in your system.
Step 3 – Star Mining
After Storj is installed in your system and you have accepted all the terms and conditions, Storj will open in your OS. You will see the Storj dashboard where you can manage your coins. The easy-to-navigate interface will allow you to mine effortlessly. Storj will keep all the files encrypted and let you select the ideal Storj wallet.
Where To Buy Storj?
Storj tokens are based on the ERC-20 standard, and they are also run on the file-sharing ecosystem as well. There are plenty of ways you can get Storj coins. It is essential to check the Storj coin price before you invest in any exchange platform. And, of course, you need to find a reliable exchange platform to buy your Storj coins.
Buy Storj Coins on ChangeNOW
ChangeNOW is considered to be one of the most advanced crypto swap platforms existing on the market. As a non-custodial service, the exchange does not store any funds of its customers – the users have full control over their assets. Also, ChangeNOW does not require any form of account creation, which is vital to ensure the security and anonymity of the customers. Since there is no personal information stored on the platform, data breaches of this kind are of a zero possibility.
The platform strives for maximum safety, simplicity, and convenience. ChangeNOW has more than 190 coins available for exchange and does not hold any limits on trade. Users can easily exchange as much as they want. The fiat option is also available – you can buy cryptocurrency with Visa or MasterCard through a third-party partner. A major advantage of ChangeNOW is that the exchange takes only an average of about 5 minutes to complete a transaction. Special algorithms pick the best rate available on the market at the time of the exchange, ensuring customer satisfaction on every trade.
Besides the reliable platform, the customer support team of ChangeNOW is definitely worth mentioning. ChangeNOW is known to solve some of the trickiest crypto exchange cases. This attention to detail and efficiency can certainly indicate the great quality of the services provided by ChangeNOW.
What is The Best Storj Wallet?
When dealing in cryptocurrency, it is important to store your crypto coins safely in a wallet. As Storj is Ethereum blockchain-based and employs a crypto coin with a proof of stake approach, it is essential to find a reliable wallet. There are plenty of wallets that support the ERC20 token-based Storj coins. Here are some of the best wallets you should take into considerations:
The Bottom Line
The blockchain market is ever evolving and is not limited to Bitcoin. New crypto projects pop up all the time to provide solutions to the prevailing issues in the market. Storj is an innovative blockchain project that is focused on enhancing the storage capabilities in the crypto landscape. Storj caters to the need for a decentralized cloud storage network, providing a safer place to store data. There are plenty of perks that you can take advantage of with Storj. To use the coin, it is essential to find a safe wallet to keep your funds.
Above was a detailed review of Storj coin and its platform that will hopefully guide you in making a better decision on whether to invest in this project.