What is Bytecoin?
Bytecoin is a private, decentralized cryptocurrency with open source code that allows everyone to take part in the Bytecoin network development. Privacy and security come naturally from using Bytecoin. The best solution for those who want to keep their financial privacy.
Instant private transactions are provided all around the world by the Bytecoin Network, they are totally untraceable, and they don’t require any additional fees.
Fiat currencies are assigned to specific territories while Bytecoin is bound to the Internet and therefore is international by default.
What is Bytcoin (BCN) worth ?
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 May, 29th to be precise, when it dropped -8.75%, reaching its current price of 0.0051$ per one coin.
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.
When Should you buy Bytecoin (BCN) ?
At the time of publication of this article , we saw BCN around the 35 RSI levels which suggests over sold levels . I would expect BCN to touch the 45 RSI Levels before we see lower lows at around 30 RSI levels or 0.0045 USD before seeing any significant new higher Highs . I would buy back in around 30 RSI levels which could be expected within 2 to 3 weeks .
Depending on how long you are planning to hold onto your investment and if you are a active trader buying low and selling high , anything thing between 28 RSI and 35 RSI are good entry levels to buy into this market.
Where can you Buy Bytecoin ?
The method you will need to follow to buy Bytecoins, is buying some Bitcoins with Fiat first, then depositing those Bitcoins into a exchange , either Poloniex or Binance or any other exchange that supports BCN , then exchanging those Bitcoins (BTC) for Bytecoins (BCN).
You will also be able to quickly buy Bytecoins on Changelly . The process may cost a bit more using Changelly, but is much quicker .
List of supported Bytcoin exchanges
After purchasing your Bytecoins you will want to withdraw them into your wallet for safe keeping until the time is right to sell.
Downloading and setting up your Bytecoin Wallet
In this guide, we will show you how to setup your Bytecoin Desktop Wallet. Bytecoin supports the following platforms: Windows, OS X, and Linux.
To download the wallet visit their official website | https://bytecoin.org/
Depending on your Windows version you have, you can download either 32 bit or 64 bit. Once you know which version of Windows you are using, download the wallet and right click to Extract from the zip file.
Once you’ve extracted the wallet , open the folder and install by clicking on the exe file. A windows firewall pop-up message might show, Click > Allow access for the wallet to start installing .
Once the wallet has finished with installation , open up the wallet . The wallet will start syncing with the network which might take several hours to complete synchronization with the blockchain.
Only after synchronization will you be able to send and receive your Bytecoin .
Risk is fundamental to the investment process, but remains a concept that is not particularly well understood by most regular investors. For this reason, risk warnings – those vaguely worded, fine print disclaimers at the bottom of financial documents and websites – are extremely important for both buyers and sellers.
This Article is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative information .
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