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The Past Few Days of Bytom: How Things are looking for BTM HODLers

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When Bytom was first introduced to the crypto-traders in August 2017, it took the entire world by surprise with its unique blockchain ecosystem. Unlike Bitcoin’s single layer or Ethereum’s double layer system, Bytom offers a triple layer platform consisting of a transaction layer, a transmission layer, and an asset interaction layer. Right at the beginning, Bytom exhibited a price surge that took it to a market cap of nearly 200 million US dollars and it reached its pinnacle during the April of this month when its market cap crossed the $1 billion mark.

Although this currently has been unable to show any conspicuous upsurge in the past two months, BTM’s development team has been working tirelessly on several aspects to make this currency even more efficient and convenient. On June 15th, Bytom team released a comprehensive progress report containing major updates occurred in the past week.

Here, some of those developments would be discussed to depict a picture of its present condition along with its probable future.

Major Project Updates: 

Bytom team has made considerable progress in project development as well as community building during the previous week. They posted major updates on a couple of their projects namely:

  • Bytom Eco Conference: The team officially announced about the Eco Conference that is about to be held on 29th of June, 2018 in Wuzhen, China. All of the core community members along with the contributors, technical developers, and Bytom ecological partners would attend the conference themed as “The Taste of Blockchain”. This conference is likely to generate some new and ingenious ideas with an entirely new perspective and consequently make its ecosystem more secure and convenient.
  • Venture Capital Project: Venture capitals hold a significant position in the global cryptocurrency trading at the moment. On 10th June 2018, the CEO and founder of Bytom Duan Xingxing attended the 20th China Venture Capital Forum and gave a keynote speech about the nuances of blockchain technology. If Bytom becomes successful with a few major venture capital organizations, going up the ladder in the cryptocurrency market is likely to become a lot easier despite the market’s volatile nature. Since most of the reputed venture capitals are based in China, attending this forum could make a significant impact on BTM’s future.

Updates Regarding Mainnet Swap:

A significant number of exchanges and wallets supported Bytom’s token swap and completed the same over the past week. Some of these exchanges include:

  • io: Gate.io was the first exchange to support Bytom Mainnet and completed the token swap successfully. Besides, this exchange also announced its support for Bytom Mainnet asset along with ERC-20 asset. As of now, the deposited BTM coins on this exchange would be swapped automatically.
  • OKEx: OKEx also finished BTM token swap last week along with providing their support for Bytom Mainnet Asset. Also, the South Korean counterpart of this exchange also released some necessary information and data pertaining to this incident.
  • RightBTC: This exchange announced the completion of token swap on June 6th. As a result, now the users would need to perform any operation on the exchange and Bytom will be swapped automatically from ERC-20 to the Mainnet asset.
  • CoinEgg: The deposit and withdrawal process on this exchange was temporarily suspended due to Bytom’s token swap during last week. However, the process was successfully completed on the 13th of June while resuming deposit and withdrawal system back to normal.
  • KuCoin: One of the most reputed exchanges in the world KuCoin also announced their support for the Mainnet token swap of Bytom where they also mentioned about the automatic completion of this process while announcing the specific plan separately.
  • Bibox: Like the exchanges mentioned above, Bibox also announced its support for Bytom Mainnet swap along with deposit and withdrawal of Bytom Mainnet assets. Now BTM users would be able to swap their coins on this exchange without any operation.

Besides these exchanges, Bepal wallet, imToken, Huobi, Bitpie, Bixin, Hufu, BigOne, GDEX, and many others have announced their support for Bytom Mainnet token swap.

Notable Listing:

On 11th June, Bytom was listed on FCoin exchange with BTM/USD trading pair. FCoin is a well-known cryptocurrency exchange with various cryptocurrency trading pairs. This listing is likely to increase the circulation and popularity of Bytom to the crypto-traders around the world.

Other Developments:

On 14th June, Bytom announced the Bytom Global Ambassador plan. The aim of this plan is to cause an expeditious growth of this cryptocurrency in the market. Once the plan is implemented, it would provide a significant number of advantages to the traders starting from multilingual translation and content support to various pieces of platform information necessary to conduct trading.

Also, the Bytom team announced a very lucrative airdrop of 270,000 BTM tokens on 8th June 2018.

Current Condition of Bytom:

As of 18th June 2018, this cryptocurrency is going at a rate of 0.55 per US dollar approximately while having a market capitalization of nearly $550 million. The coin holds the 29th position on Coinmarketcap at the moment. The price chart of this coin is currently showing a steady and stable trend without any major escalation or downfall.

Final Thoughts: 

We all know that the principal characteristic of this market is volatility and therefore, it is practically impossible to pinpoint the future of a certain coin. However, with new community and project developments, BTM is showing considerable promise. Ergo, if you are a user of this coin, holding onto it wouldn’t be a bad choice.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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