As is known, Bitcoin is currently one of the leading digital currencies in the world. However, not everyone is familiar with Bitcoin SV — a “cousin” of Bitcoin. So, is Bitcoin SV similar to Bitcoin, and what are the characteristics of this coin? Let’s explore some information about this “notorious” coin with Vietnam-ustrade.org!
Bitcoin SV — What is BSV coin?
Bitcoin SV is the abbreviation of a Crypto peer-to-peer type. A peer-to-peer coin called Bitcoin Satoshi Vision with the coin code BSV. This currency can carry out financial transactions, send directly from parties without going through a company or an intermediary financial institution.
With such a brief definition, users might immediately think of a coin similar to Bitcoin. However, having the same definition does not mean the operating methods and coin values are the same. Let’s find out the similarities and differences between these coins with Vietnam-ustrade.org!
Some related information about Bitcoin SV
Bitcoin SV was developed by the nChain team with Craig Wright as the project leader. He is one of the early Bitcoin adopters and claims to be the “father of Bitcoin”.
Bitcoin SV is a project established and mined in response to a request from the sponsor enterprise CoinGeek Mining, with Daniel Connolly as the main developer. After more than 20 years holding key positions in the IT departments of various organizations, companies, and high-level enterprises, Daniel returned to pursue his dream of developing the Bitcoin SV project.
Another equally important role in this apparatus is the technical director, co-supervisor, and project supporter, Steve Shadder. Before becoming involved in Bitcoin SV, Steve was the author of an open-source mining support tool and has contributed significantly to the success of Bitcoin today.
In addition, the project has the support of many high-skilled professionals and industry experts, …
The history of formation and development of Bitcoin SV
As mentioned above, the members involved in Bitcoin SV are those who have contributed to Bitcoin’s development. Therefore, when it comes to the history of Bitcoin SV’s formation, people immediately think of the early days of Bitcoin’s launch.
When Bitcoin was introduced to the market in 2009 and after the pizza swap using Bitcoin, the value of BTC increased sharply, revealing certain weaknesses. This spurred the creation of Bitcoin Cash in 2017, eight years later.
However, the story did not end there; conflicts within the Bitcoin community intensified, leading to a split into two factions, creating Bitcoin Cash and Bitcoin SV as we know today.
After the two types of Bitcoin emerged, there was an invisible war over Hash rate. Market participants certainly remember the times when the financial markets were quite unstable, and there was a wave of panic among the community. The coin’s value dropped across the virtual economy market, causing significant economic losses estimated at millions of dollars within just ten days. This is when the two factions declared the end of this virtual battle.
The current price of BSV coin
According to data from CoinMarketCap — a reputable financial organization — the current price of Bitcoin SV is approximately $180 USD. That’s not a small figure!
Where to buy, sell, and securely store Bitcoin SV
With the widespread popularity of the Crypto field today, it is not difficult to find a safe place to buy, sell, and store Bitcoin SV.
To store Bitcoin SV, users can consider reputable and safe digital wallets such as:
- On trading platforms: Currently, trading platforms integrate wallets. Therefore, if users frequently trade on these platforms, they should choose this storage method for convenience in executing transactions.
- On cold wallets: To ensure greater safety with larger amounts, users should opt for cold wallets like Ledger Nano S, MyEthereumWallet, etc.
Additionally, users might consider some online wallets such as Atomic Wallet, Coinomi, Bitpie, etc., or storage apps on mobile devices.
Regarding where to buy, sell, or trade Bitcoin SV, users should also be cautious. Currently, scammers are quite prevalent in the virtual currency market. Trustworthy exchanges include Binance, Poloniex, Huobi, …
Should you invest in Bitcoin SV?
This is a common question among many investors. The answer depends largely on the investors themselves. Different coins have their own advantages and disadvantages. Users should leverage these traits according to their investment goals to maximize profits.
Bitcoin SV is no exception. It is still quite new to the investor community. However, the project is led by a team of highly professional experts. Therefore, it is not hard to understand why Bitcoin SV’s future plans and strategies are quite clear and certain.
Conclusion
Thus, Vietnam-ustrade.org has compiled some relevant and detailed information about Bitcoin SV for users. We hope these useful insights will help users find their own direction and support their upcoming investment decisions.
