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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

Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

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