Why the Revolutionary Cryptocurrency Civic Coin Is Popular in 2021
Virtual currencies have entered the mainstream with numerous investments from individual and institutional investors. Also, high-profile companies have joined the crypto bandwagon and declared they would accept crypto payments for their goods and services.Thank you for reading this post, don't forget to subscribe!
Another reason why cryptocurrencies have become an attractive asset is the rise of Bitcoin, which entered a bull market phase in 2020. Some of the milestones include an amazing price of over 60,000 in March 2021. This resulted in increased BTC investments that have also prompted new crypto investors to look into investing in other cryptocurrencies. Also, Bitcoin’s bull run eventually triggered the bull market phase of other altcoins in the market.
The Civic coin is one of the digital currencies that was created not just as means of transferring funds over the internet but as a cryptocurrency that also offers AI-powered identity verification. In this article, we take a look at the main advantages of Civic coin that has made it one of the most popular cryptocurrencies in 2021.
The CVC Coin was created in order to mitigate the problems that come from data breaches which are mainly caused because of there is a centralized point where all of the personal detail about the users is stored. The public is already familiar with a lot of different data breaches that happened over the years.
One example is the Yahoo data breach in 2016 that affected over 1 billion accounts. Unfortunately, this isn’t the only example, and there are constantly many new data breaches; the latest one happened on April 2021 and affected approximately 533 million Facebook accounts. Needless to say, there is a real need for enhanced security and protection of user’s data, as in these cases, the users on the platforms were the main victims.
Fortunately, the CVC coin launched in 2017 successfully solves this problem not just for users but also for companies. The Civic coin is an identity management platform that provides completely secure validation of the identity of the users. As this is essentially a decentralized coin that operates on the blockchain network, which is again famous for its security, it’s one of the greatest advantages of obtaining CVC. If you want to find out is Civic Coin a good investment for your portfolio, this reputable platform is a great place to learn more about Civic Coin.
Simplified and Secure KYC Process
CVC coin offers a lot of benefits for the users and also establishments that store sensitive data about its users, like banks, for example. CVC coins will offer a safe and fast solution to complete the KYC process, increase the security levels, and decrease the costs associated with identity verification. The data is sorted on a distributed blockchain network (CVC coin uses the Ethereum blockchain) and any other company that wants to validate the identity of certain users will need to acquire CVC coins.
Benefits for the Users
Basically, the CVC coin will represent your digital ID as you won’t be required to share your personal data to validate your identity ever again. This is a decentralized identity management service that simultaneously allows you to protect and verify your identity.
Otherwise, it’s considered a valuable asset that you can’t get through mining, but you can buy it on online trading sites. There are 670 million CVC tokens in circulation in 2021, while the total supply was 1 million CVC. Plus, it is available on over 20 exchange sites, and you can use any crypto wallet that supports Ethereum to store your funds.
In conclusion, the CVC coin represents a valuable innovation, not just for investors and companies but also for any user that wants its personal data securely stored on a highly secure blockchain network.
Furthermore, it offers numerous options for establishments like banks, e-commerce sites and other companies to simultaneously enhance their security, optimize their costs, and protect the identity of their users.