Diamond is a cryptocurrency that is meant to be used not as an actual currency, but as a store of wealth. This asset was created with an abnormally low supply in the hopes that being stingy with distribution would preserve the value. That held true for a while, but it seems that the market crash has knocked this coin down a peg.
Investors who are interested in creating passive income, however, may be interested to know that this is a proof of stake coin and that they will be able to earn money by participating in the network.
While there is not a lot going on development wise for this coin, they do have an established and dedicated community. it should also be noted that every project has experienced hard times in this dip, and it's likely that they will be able to bounce back. If you're interested in owning a masternode, then you can do that here as well if you can afford the 10,000 coins required to do so.
Is 10,000 a bit out of your budget? That's okay, you can still begin staking with nearly any amount using the desktop wallet client. Investors can enjoy earning a generous percentage annually on their Diamond investment.How to buy?
It's only possible to buy Diamond on a handful of cryptocurrency exchanges, and the trading volume is fairly low. Most of the trading is confined to only one main exchange, and this could be a problem if this asset is ever delisted from that provider. Bitcoin is the only viable trading pair here, as the other pairing has little to no volume, and it would be nearly impossible to execute a trade with it.
In order to store your investment, you'll need to use the official wallet which is listed on the coin's website. While there is an integration with Coinomi, it's not advisable to use it. This is a staking coin, and in order to earn your stakes, you'll need to be using the official wallet. Third party wallets like Coinomi will not earn you any rewards. Investors should be sure to encrypt their wallet with a strong password, and then create a backup in a safe place. This is the only way to recover your funds in the event of a disaster.