HoboNickels (HBN) is a cryptographic currency that has been created to provide much easier and more efficient ways to transact online. Designed to be extremely fast, HoboNickels borrows the Scrypt algorithm used by another alternative cryptocurrency called BottleCaps.
It’s very interesting to engage in HoboNickels mining this early as it poses a low difficulty of 0.5692 with a little over 400,000 blocks already generated. But despite the low HoboNickels Difficulty, it’s heading toward a steady increase northward as reflected in the Difficulty chart. Nevertheless, this cryptocurrency’s difficulty tends to fluctuate more than the average.
For every HoboNickels (HBN) block, you will be rewarded with five coins. And with a half-a-minute block time, you can, therefore, mine more coins from several HBN blocks, whether you’re mining solo or in a pool. Remember, though, that when you join a HoboNickels Mining pool, you will have to meet certain requirements to receive payments. For instance, some pools require 25 confirmations to payout and even charge at least a 1.5% pool fee. Moreover, expect to receive much fewer coins, which may reach as low as 0.05 HBN per block.
What’s great about this cryptocurrency, though, is that it has a 120-million-coin cap, so miners are guaranteed to generate more blocks based on the block rewards. This explains the advantage early miners will have over those joining at a later time.
Additionally, HoboNickels (HBN) uses the Scrypt algorithm to mine, so you can expect to have no cases of brute-force attacks on the hardware. Likewise, you can mine HBN in almost any computer using both CPU and GPU mining. In this way, you’re not required to have extremely capable computers to mine these coins.
If you want to have an estimate of your expected earning within a specific time frame, you can always use a HoboNickels Calculator. Simply key in the Difficulty, Exchange Rate, Block Reward, and Hardware Costs among many others to compute how much you will be earning, whether in hours, days, weeks, months, or years.
HoboNickels (HBN) can be traded over at exchanges like Cryptsy and Coinex. As of present time, it’s not yet included in the Litecoin trading market, but it can already be traded with Bitcoin. As such, you can sell and buy HBN and BTC using either cryptocurrency.
Based on the HoboNickels Exchange chart, it’s evident that this cryptographic currency has poor exchange rate stability. Likewise, the low HoboNickels Price/Value can be attributed to its immaturity in the market, especially that it isn’t too long ago that HoboNickels (HBN) joined the industry. But regardless of its low price against Bitcoin, HBN is showing a slow but steady increase across the exchange rate chart.
Should you find trading HBN to be untimely, though, you can always make use of the available HoboNickels Faucet to receive free coins. Just make sure that you already have your HoboNickels Wallet, which can provide you with a full multi-wallet functionality.