What Software Toolkit to Use for PIVX C++ Crypto Wallets

PIVX (short for Private Instant Verified Transaction) is a proof-of-stake cryptocurrency that focuses on protecting user data privacy. However, these tokens can’t be mined, so many users are looking for an easier way to make gains. The good news is that learning what software toolkit to use for PIVX C++ crypto wallets will help you maximize your profits with this currency.

PIVX C++ crypto wallets work great with the Hummingbot toolkit. The bot helps users increase their market liquidity and trading volume, allowing them to earn more rewards than would otherwise be possible. It’s also compatible with most centralized and decentralized exchanges, enabling you to arbitrage between the PIVX wallet and almost any platform.

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The PIVX cryptocurrency and wallet provide many benefits, including privacy, security, and faster transaction times, making it a pretty good investment in general. In the text below, I’ll go over how you can maximize your returns by increasing your trading volume and how to earn the currency on the blockchain itself.

Use Hummingbot With PIVX C++ Crypto Wallets

Using the Hummingbot toolkit with PIVX C++ crypto wallets helps users earn an abundance of token rewards while also allowing them to collectively provide all sorts of market-making services. This is because the toolkit is used for building high-frequency crypto trading bots, essentially enabling traders to perform a significantly higher number of trades per day, thus increasing their liquidity.

The client uses similar principles to the PIVX network, as it never externally exposes the user’s keys and other data. Still, its codebase is entirely available to the public on Github, meaning anyone with a crypto wallet can download it and create their own algorithms.

However, if you don’t want to make your own bots, the platform also gives you the opportunity to use their strategies. You don’t even have to pay for these, as its payment system is based on taking a very small amount of the rewards you make when using it.

Hummingbot is generally best optimized for professional liquidity providers and market makers, providing various sophisticated strategies, such as Avellaneda. Most importantly, it supports almost all the major exchanges, both centralized and decentralized, allowing you to arbitrage between them and PIVX with ease.

The Hummingbot Platform Participates in Various Collective Campaigns

The Hummingbot platform actively participates in coordinated campaigns, one of which was performed in partnership with PIVX. The liquidity mining campaign was held on June 29, 2021, lasted for 12 weeks and had a 12,000 USDT reward pool spread equally over its duration. Some of the terms the participants had to follow were:

  • Use the Binance exchange,
  • Trade eligible token pairs (PIVX/ETH and PIVX/BTC),
  • Placed orders had to have a spread of 2% or lower.

How to Earn Rewards on the PIVX Network

As I mentioned at the beginning, the PIVX network doesn’t support traditional mining like Bitcoin and many other cryptocurrencies. Instead, the users can earn rewards through Masternodes.

A network of Masternodes essentially represents users who hold a certain amount of coins as collateral. They are used to verify network transactions, keep things anonymous, vote on various community-based proposals, and store the blockchain itself. In return, these users will receive rewards in the form of PIVX coins.

Holding a Masternode is not cheap, though, as it requires you to have at least 10,000 PIVX tokens on your PIVX wallet. At $0.21 per PIVX, you’ll need to have at least $2,100 worth of coins to set up a Masternode. However, this directly gives you, the holder, a lot of decision-making power, allowing you to steer the technology in a way that would benefit yourself and the collective the most.

Staking Your PIVX Coins Is Another Way to Get Rewarded by the Network

Staking is another way you can earn rewards on the PIVX network, and this process is used to keep everything stable and secure new blocks. Unlike the Masternodes, you can stake any amount of PIVX in your wallet, significantly lowering the barrier of entry.

The rewards themselves are released every 60 seconds at random. However, it’s important to note that the higher amount of tokens you stake, the bigger your chances of getting rewarded. Still, every user with a staking wallet will eventually receive some kind of reward. This is because the network uses a specific see-saw system to balance out the reward frequency between the staking and the Masternodes.

When staking PIVX coins, it’s recommended that you download the entire copy of the blockchain either on a Virtual Private Server (VPS) or your computer before running the wallet. To maximize your rewards, keep the wallet unlocked for staking-only and try to stay online at all times, 24/7.

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Is It a Good Idea to Invest in PIVX Tokens?

There are many benefits of using PIVX, all of which make it a great investment opportunity. The platform itself is very community-driven, meaning that the users have a say in how the cryptocurrency is developed and used. The PIVX team is also very active and responsive to feedback from the community. It’s a great investment for anyone looking for a more private and secure cryptocurrency. It is also a good choice for those who want faster transaction times and more efficient use of their resources.