The long awaited Bytecoin (BCN) boost is here. Just moments after being listed on the largest exchange in the world, the value of the coin seems to be on h rise. Binance is the largest global cryptocurrency exchange in terms of volumes and user trust. The listing of the privacy coin on the exchange means much more than just the volumes.
Now you can have BCN being paired with major currencies including BTC, ETH and BNB. This makes it easier to deposit and trade BCN on Binance. The trading fees are as low as 0.1% and for a limited time, you can enjoy a 50% transaction discount on the exchange.
What is Bytecoin (BCN)?
Bytecoin (BCN) is in the open source cryptocurrency category but its uniqueness is based on privacy and untraceable transactions. The coin has been in the market since 2012. It has been working behind the scenes to develop its infrastructure and the listing has pushed it be ranked 18th by market capitalization.
Bytecoin was the first coin to utilize the CryptoNote technology which is adored by the dark web operatives. With the technology, transactions are kept anonymous and addresses cannot be viewed by other users on the platform. It uses ring signatures which prevents linking the transaction initiator and terminator.
What Makes Bytecoin (BCN) Price Surge
Before getting listed on Binance exchange, the team behind the Bytecoin ecosystem has been working tirelessly. With new features launched at the end of 2017 many investors have been joining the community. The release of the Android wallet is a key player in the increased BCN uptake.
The marketing team is also exploring virgin market which targets Asia, Africa and the Middle East. The team is taking advantage of the privacy feature that virgin market investors are interested in. with a lot of vulnerabilities in other privacy coins like Monero (XMR) in the market; Bytecoin stands out as the only coin living to its full privacy promise.
Bytecoin (BCN) Price Outlook
After the announcement, the BNC price surged by 30% in one hour and a lot of activity continues to be noticed around the coin. According to CoinMarketCap statistics, the coin was trading at $0.007. At the time of writing, the BNC was trading at $0.010933 against the dollar with a massive gain of 57.25% and 57.18% to BTC.
BCN has been struggling for the last seven days with most investors anticipating the Binance listing boost. This also comes at a time the coin has been struggling to recover from the beginning of the year crypto crash couple with cryptocurrency regulations.
According to their official website;
“Bytecoins are gradually getting more expensive over time, since the emission is limited to 184.47 billion BCN. The number of Bytecoin emitted each 120 seconds is slightly decreasing. As a result BCN gains value and the exchange rate increases. While currencies with sharp decreases of reward per block are exposed to intense declines in network power, Bytecoin emissions are decreasing slowly, which protects the currency from economic shocks.”
By getting listed on Binance, Bytecoin has beaten Lisk, Verge and ICON. With a market capitalization of 2billion up from 1.7billion, this is a huge milestone in the history of the coin. A 172% jump in volume traded in the last 24-hours is a clear indication the value Binance is set to add on to Bytecoin (BCN) in the coming month.
What is working for Bytecoin (BCN?)
Bytecoin has been working behind the scenes amid speculation that and wit the current updates and getting listed on Binance, the social media critics are getting silenced. Critics had previously trashed BCN as a scam cryptocurrency but it seems like they are being silenced.
With the current surge, Bytecoin is set to become a coin to watch be the end of Q2. With a lot of support coming from the Orient and the inroads it is making in Africa and the Middle East, BCN is becoming one of the best privacy coin in terms of value and global appeal.