One of the many perks that come with living in this modern and digital age is accessibility, as one can easily find all the necessary info online. Now, at the same time, that’s also a disadvantage and for several reasons. One of those reasons is regarding the fact that depending on the topic you are searching for, you are more likely to find several sources that may not necessarily say the same thing. Furthermore, today, everyone can write and post something online, regardless of if it is true or not (fake news), which only makes things more difficult. When we combine this with the pure fact that even though the vast majority of people are digitally literate, we are sometimes pretty gullible and believe in the first thing we read. All of this leads to many people being unaware of other important things and new tech discoveries that can really change their life for the better. Just take cryptocurrency as an example.
The rise of digital money
A little more than a decade was enough for cryptos to become one of the most important and talk-about topics of today. The fact that there are more than 6000 cryptos out there says a lot about their importance and meaning, and it only proves the point that they will be with us for quite some time. Some people are still unaware of all the possibilities and advantages that come with cryptos, but crypto developer CityCoins Inc. seized this opportunity and created and launched MiamiCoin earlier this year (August), hoping to generate interest in a city’s municipal projects. Even though it’s still in its early stages, it has already generated vast profits, with a huge tendency to further spice things up in the years ahead of us. Some even predict that it could bring as many profits so that people will not have to pay such large taxes in the future or entirely replace them, but let’s hold up for a second and take a closer look at how Miami made $10 million on a new coin in just two months.
City Coins is a new platform for crypto mining, and its role is to make crypto donations to cities around the USA. In that way, people have the opportunity to support their favorite city and make life in it much better by donating them some cryptos. Every city has its own token or cryptocurrency, and the Miami coin is one of the most popular ones. The main idea of these donations is to give more affordable housing projects, permanent solutions for homeless people, and try to solve climate changes and global warming.
If this trend continues to rise at this pace, it could really do wonders for struggling communities and the city of Miami in general. Now, all of this is possible because people have the opportunity to help these projects come true, they are more than willing to try, and they made more than $5 million in donations for about a month. The operating mechanism is simple, and if one decides to mint a Miami Coin, the software itself will give the 30% of it as a donation to the city. Since people are more than willing to use this token, it is expected that these donations could become 5-10% of the city budget within a year or so.
It is based on Bitcoin
Cryptocurrencies are still not something that people are used to, like fiat money, and many of them are still skeptical about using them in everyday life. One of the problems is that there are too many of them, and we can find a new token almost every day, so people are not sure which of them to use and which of them is safe. Bitcoin is one of the safest choices and a cryptocurrency that people know the most about, so it is not a surprise that it provides some kind of security. Miami Coin is built and based on Bitcoin, and because of that, people are more willing to use it. It is done through a smart contract made by Stacks, and since BTC represents one of the most globally popular cryptos with the fact that it’s been with us for quite some time now, it looks like a safe solution to use as a base for new currency. Like Bitcoin itself, Miami Coin is also decentralized, public, transparent, and immutable, and people exactly know what to expect of it.
It creates a possibility for tax-free living
As mentioned above, taxes play a huge role in our lives, and they can get pretty high, depending on where you live. Now, one of the benefits of this new coin is that its main purpose is to fund and fill the city budget. Miami Coin has many advantages, and using it can really change peoples’ lives and make them much easier. It is much more practical to use cryptos than fiat money, and for people living in Miami, there is no better choice than Miami coin. Donations made through City Coins could generate more than $50 million to Miami next year, which will change how the city funds necessary programs. Because of that, there is a real possibility that this city will become tax-free for its residents, and it is another reason people choose to use it. This city also tries to implement cryptos in government, so the people will get paid in them, pay their bills and taxes. Many big companies are moving to Miami because of the great business environment and low taxes, and it is expected that Miami will become a real cryptocurrency innovation hub.
As you can see, this could do wonders for Miami and all the people living there, as it could really change the looks of the entire city. It will lead to further investments and will draw even more investors and companies, and the fact that all that one needs to do is create their crypto wallet at reliable sites like Crypterium is only a reason more for you to do the same.