With the explosion of digital currencies, many types of coins, tokens, etc., have emerged. Among them, Bytecoin – a coin launched in 2012 – deserves special mention. However, not everyone is familiar with this currency. Therefore, today, Vietnam-ustrade.org will introduce you to BCN (Bytecoin) along with some related information.
What is Bytecoin (BCN)?
Known since 2012, BCN (Bytecoin) is an open-source digital currency that can be decentralized from users. Therefore, whether you are a new or experienced user, an investor or a gamer, … anyone can participate in trading and developing on the Bytecoin network. Additionally, Bytecoin offers users secure, reputable, and privacy-focused transactions worldwide, helping users easier in their investments by making all currency transactions on the system free.
Current value of Bytecoin (BCN)
Bytecoin, abbreviated as BCN, is built on the CryptoNote Blockchain platform with a Proof of Work mechanism. Currently, the value of BCN is $0.000212 USD per BCN, according to CoinMarketCap.
Where to buy, sell, and store Bytecoin (BCN) safely and reliably
Secure storage options for BCN
Bytecoin’s presence is quite widespread globally, making it easy to find safe and secure storage options. These include Bytecoin wallets provided by BCN’s issuer or e-wallet services from wallet providers, … However, users should choose secure storage options such as:
- Exchanges: This is a safe choice if you frequently trade Bytecoin on financial platforms.
- Bytecoin Wallet: As mentioned above, this is a wallet provided directly by Bytecoin, ensuring almost absolute safety and reliability. Today, the provider has developed wallets for desktop, Android, Web, … which are very convenient for users.
- Freewallet: This type of wallet is popular for its variety of supported coins. However, it still lacks detailed information, so users should research before using this wallet.
Secure places to buy and sell BCN
With Bytecoin’s popularity, many exchanges offer services supporting this coin across various platforms. Currently, over 10 international financial exchanges support Bytecoin trading.
In Vietnam, the crypto trading market is quite developed, making it relatively easy for users to find places to buy and sell Bytecoin in VND. However, the safety and trustworthiness of domestic transactions are not highly rated by users.
Therefore, Vietnam-ustrade.org recommends trading BCN at reputable platforms such as Binance, STEX, Cfinex, Coindeal, … Among these, Binance stands out due to its safety, reputation, and security, as evaluated and proven by many investors.
Should you invest in Bytecoin (BCN)?
This is a question many users ask when considering investing in coins. To answer, investors should review some information about the Bytecoin project!
- Development roadmap: Since its launch, the last roadmap was released in October 2019. As of 2020, Bytecoin’s issuer has not made any further moves regarding the roadmap.
- Other products: Besides Bytecoin and its storage wallet, after over 5 years, the issuer has not released any new products for users.
- Platform system: Despite its longevity, its current platform does not stand out compared to other coins, except for its anonymous feature and the convenient CryptoNote Blockchain platform.
- BCN transactions: Bytecoin is provided to users for purposes such as paying fees, receiving gifts, …
- Despite over 5 years of development, BCN has only recently been listed on a few financial exchanges, leading to a slight growth, sparking some interest and investment hopes among users.
- Finally, Binance, one of the largest trading volumes globally, is negotiating with Bytecoin’s issuer to decide whether to continue listing BCN. Currently, Binance holds the largest trading volume for BCN. Ceasing to list could potentially reduce Bytecoin’s current value.
See more: What is Binance? Introduction, guide to Binance from A to Z
With this brief overview, I hope it helps users decide whether to invest in BCN. A common advice is that investing always carries risks, big or small. Therefore, careful consideration before making investment decisions is essential to avoid regrets.
Conclusion
Thus, Vietnam-ustrade.org has summarized some useful information related to Bytecoin for users. Hope these insights assist users in upcoming investment decisions.
