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Binance now accepts deposits of Orchid (OXT)

Orchid
  • Binance started to receive the deposits of OXT
  • Orchid got a new feature
  • It is a decentralized VPN

Binance listed Orchid (OXT) and opened trading for OXT/BTC and OXT/USDT trading pairs. That is the leading news for the decentralized VPN. From that date, the users can deposit OXT and prepared for trading.

Binance accepts deposits of OXT but is it a good investment?

Should you invest in Orchid cryptocurrency? Since it is available now on Binance, should you buy OXT? Some analyses show that it isn’t an excellent long-term investment. This digital coin’s price is currently $0.358. The 24-hours low on September 21st was at $0.266 and the high for the same period was $0.479. OXT price increased for above 31% for the last 24 hours. Currently, the circulating supply is zero coins, while the maximum supply is one billion coins. Until today’s listing on Binance, OXT was most active traded on Coinbase Pro.

Binance listing isn’t the only good news for Orchid today

Its co-founder announced that this VPN is adding a Chainlink oracle. This crypto powered VPN will be able to collect pricing data from the providers in its network. 

Decentralized VPN co-founder Steven Waterhouse described the value of this feature. He said: “A provider might say they’re charging a certain amount, we don’t really know until we try it. So we wrote some code that in a decentralized fashion, shops for bandwidth on the network.”

Adding this new feature results from a six-year-long collaboration with Chainlink’s co-founder Sergey Nazarov. 

How Orchid differs from other VPNs?

When we browse the web to find interesting news or to buy something online, we leave information about ourselves and traces. Sometimes it is beneficial, but in most cases, it can be disturbing, at least. We all remember the case of Cambridge Analytica. But they are not a single case. Actually, everyone can find plenty of similar cases. 

By using a VPN you access the web areas where you cannot reach without it. The virtual private network or VPN encrypts your data and no one can access them outside. In essence, VPNs are centralized but Orchid isn’t. Unlike the others, it is a decentralized service. While others claim that will never sell your user data, this VPN is an Ethereum-based service provider. If you want to buy bandwidth on this VPN you need to use the OXT token. If you want to browse the web securely, you’ll use Orchid.

Gorica Gligorijevic

Gorica Gligorijevic

Gorica is a Serbian journalist with more than a decade of experience in print, web, TV, radio journalism, and the publishing industry. Past several years dedicated to web journalism and cryptocurrencies trading and investing.

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