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Bytecoin (BCN): Is BCN A Fairly Good Investment?

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The beginning of December of the current year of 2017 was pretty encouraging for many cryptocurrencies out there, which also included Bytecoin. Bytecoin is a digital currency present on the market for five years already. Ever since it was launched back in 2012, this digital currency gained on popularity inside of Bytecoin communities thanks to the revolutionary use of CryptoNote technology. Now, this currency has a net worth of over 982 million dollars with 184 billion coins in use, which says a lot about its popularity and potential when it comes to investing. But, how does Bytecoin uses CryptoNote and what makes it as revolutionary? And, is it worthy of investing?

CryptoNote and Everything you need to Know about it

To be able to explain the revolution of Bytecoin to all of those who are not as informed when it comes to CryptoNote, we first need to start from basics. What is CryptoNote anyways and why is it so unique?

CryptoNote is a technology that supports layer application that enables all users of digital currencies like Bytecoin to have all of their transactions privately processed. You might think: well, all cryptocurrency transactions are private, what is so revolutionary about it?

Yes, in a way, all transactions are private, but there is a difference between the way Bitcoin is operating and the way Bytecoin is operating through CryptoNote. While Bitcoin transactions are secret in the sense that there is no third party involved between the two sides performing transaction so only two parties are in charge, following blockchains, all transactions done through the chains are traceable and can be traced back to the two sides that are using blockchains and Bitcoins for their transactions. They have their privacy but if someone who knows what to do could easily trace these transactions through blockchains.

The case is a bit different for digital currencies using CryptoNote like Bytecoin is. When performing transactions with Bytecoin, just as with Bitcoin, all transactions are solely executed between two parties with the complete absence of a third party, but unlike with Bitcoin, transactions processed with Bytecoin and through CryptoNote cannot be traced. That means that Bytecoin transactions are entirely private and untraceable. This case scenario makes Bytecoin one of the most private digital currencies, setting standards for decentralized platforms.

Bytecoin’s Value

Bytecoin have had an amazingly expected boost when it comes to its value as this digital currency experienced an increase that went up to 375% at the beginning of December 2017, but just as the majority of digital currencies that suddenly dropped with prices, so did Bytecoin. Bitcoin wasn’t spared either, so its value went from 22.000 dollars per coin to 10.000$ per one unit. Given that Bytecoin is still a relatively small digital currency when compared with Bitcoin, and although its net worth is reaching almost 1 billion dollars, this digital coin is worth only 0.0053 dollars per one unit.

This digital currency had experienced an adverse change in price at the end of December, 30th to be precise, when it dropped -8.75%, reaching its current price of 0.0053$ per one coin.

Bytecoin Communities

Privacy is maybe the most significant treasure anyone can have in this digital age when our personal information is almost translucent and with internet presenting the most vital information base there ever was. Having privacy is thus on the high price. Bytecoin is offering precisely that – privacy for all users and all transactions within their blockchains as they made all transactions performed within CryptoNote to be completely untraceable, that way preserving the confidentiality of Bytecoin users and their purchases. That is one of the main reasons why this digital coin is almost billion dollars worth in the total number of available coins – communities are supporting Bytecoin as it provides them with privacy and cost-effective transactions that are untraceable, and quickly and efficiently processed.

What to Expect

Promises that the next year would be fruitful for digital currencies can be found everywhere around the internet news portals, and those predictions should apply on Bytecoin as well as this digital money has been around for a long time. When you take a look at its price drops and ups, you can also notice that there aren’t any dramatic drops, which speaks in favor of its stability when it comes to value and market demand.

Another factor that might indicate that Bytecoin would make a significant investment is the fact that the blockchains. That means that people are using this digital currency, which may also suggest that this coin is here to stay.

When you add its advanced usage of privacy through layer application such as CryptoNote, you get a digital currency that is functional and close to advanced in oppose to the way other cryptocurrencies are being traded with. When you sum all these factors up, it seems like Bytecoin is here to stay for the time to come.

Is it worth investing?

When all its positive factors and the general opinion of financial experts are taken into consideration, you can say without blinking that Bytecoin is a digital coin to follow up. In case the next year would come as benevolent as the first couple of weeks of December, Bytecoin will surely be on the board with big guys, sticking to the top lists and experiencing increasing value and expanded demand.

We will be updating our subscribers as soon as we know more. For the latest on BCN, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of GotCredit via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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