What Makes Bytecoin (BCN) a Good Buy?

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Many cryptocurrency traders might not be aware that Bytecoin (BCN) was the first new generation anonymous cryptocurrency and the first virtual currency to use CryptoNote technology for its launch on July 4th, 2012. Bytecoin (BCN) ensures that transactions remain anonymous and untraceable through its use of ring signatures that ensure wallet balances are private.

Even though Monero (XMR) developed as a result of Bytecoin (BCN), Monero (XMR) is presently at the 12th position in market cap as of the time of writing this article, while BCN in the 24th position. This as a result of the withdrawal of most of its community members when a pre-mined scam was announced in the media.

However, in recent time, most investors are beginning to trust the coin and it was able to hit about 154% increase within 30 days, from April 2, 2018, to May 2, 2018. BCN traded at $0.002166 on April 2 and $0.005514 on May 2.

What Makes Bytecoin (BCN) a Good Bye?

1) Return of investors interest:

The return of investors could be observed from the volume of trades BCN experienced between April 2 to May 2, 2018, which ensured that it returned back to its market capitalization that is above $1 billion within this duration. During this time, its trading volume moved from 825,353 to 6,643,490 which represents 5,818,137 increase and a percentage rise of 704.93%.

2) Addition of new exchanges on the horizon:

Even though Poloniex exchange stopped deposits and withdraws of Bytecoin (BCN), on May 1st the ban was lifted and transactions could be processed. Also, the Bytecoin (BCN) team is on the verge of reaching consensus with Binance and Bitfinex, which has led to most of its community members to  hodl because such trades increase value more than its present performance. This is because less than 1 billion BCN remains to be mined, out of close to 185 billion in total supply.

3) Strategic partnerships:

BCN team are striving had to ensure that its holders and traders are open to many markets. Because of this, they are handing out an airdrop of 195k BCN to the first 20 traders who make the most trades, with a benchmark of 25k BCN to be traded in the partnering exchange bitexbook.com. The price ranges from 65k BCN to 2500 BCN. The duration is from April 30th, 2018 to May 20th, 2018.

4) Acceptance of ASIC mines:

In a place where most coins refused to accept ASIC mines for mining, even Monero (XMR), the BCN team said that to improve the efficiency of mining and also the profitability they will accept ASIC mines. This is because Bitmain, the producer of the ASIC mines, had made a commitment to introduce FPGA devices in its new ASIC mines ensuring an easy adjustment to a code change that will not affect the mines. They also believe that ASIC mines are better than CPU and GPU mines. These mining activities will increase BCN value.

Based on the four points discussed, I believe you will easily agree with me as to why I believe BCN is a worthy buy.

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Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive Content

Comments (12)

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  • 0 josh
  • ,  Contributor
  • 29 June 2018, 05:06 pm

Digital payments are clearly the wave of the future but people will likely be using familiar folding money for awhile longer. <a href=\"chrisfreville.com\">chris freville review</a>

   0   Reply (0)   Follow(8)  

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    • John R
    • ,  Contributor
    • 10 May 2018, 02:05 pm

    I think Bytecoin is another scam.

       0   Reply (0)   Follow(8)  

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      • Tito
      • ,  Contributor
      • 08 May 2018, 09:05 am

      Bytecoin surges 30% on news of Binance listing

         0   Reply (1)   Follow(8)  

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        Good, more of this is expected.

           0  

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          • ismoney
          • ,  Contributor
          • 04 May 2018, 10:05 am

          Bytecoin is for real making wave into the market. Great for them.

             0   Reply (0)   Follow(8)  

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            Bytecoin untraceble tokens - Pay attention on the hardfork at june 1

               0   Reply (0)   Follow(8)  

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              Bytecoin untraceble tokens - Pay attention on the hardfork at june 1

                 0   Reply (0)   Follow(8)  

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                • Scott
                • ,  Contributor
                • 04 May 2018, 07:05 am

                What I like about Bytecoin, it is international and untraceable

                   0   Reply (2)   Follow(8)  

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                  Bytecoin untraceble tokens - Pay attention on the hardfork at june 12.

                     0  

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                    Bytecoin untraceble tokens - Pay attention on the hardfork at june 12.

                       0  

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                      • John R
                      • ,  Contributor
                      • 04 May 2018, 07:05 am

                      There have been no significant announcements on the Twitter feed to produce this spike

                         0   Reply (0)   Follow(8)  

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                        • Jesse
                        • ,  Contributor
                        • 04 May 2018, 07:05 am

                        Most of the trading volume in BCN has been on HitBTC

                           0   Reply (0)   Follow(8)  

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