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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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