Have you ever heard of Bytecoin? I think a percentage of people do not know it, at least it can be met within the world's top 50 encrypted currencies.
This encrypted currency has grown by more than 153 percent to jump from $ 1.3 billion to $ 3.2 billion.
This is a distinctive rocket jump in which the currency moved from late ranks in the 30th row to rank 15th in the world according to the market value of the digital currency and encryption.
This move has returned to the spotlight and attention of observers, and may push some investors to bet on the profit from them.
What is the currency of Bytecoin?
This is the first encrypted currency based on CryptoNote technology with open source code, which provides users with anonymous and confidential financial transactions.
This currency was created July 4, 2012, thus becoming one of the oldest encrypted currencies, of which 183,878,867,869 units are available for trading and with their mining expected to reach a total of 184.470 million units.
We are talking about 184 billion units, more numerous than the XRP and other currencies like NEM, which are encrypted currencies available at attractive prices, but Bytecoen is cheaper than them.
The price of this encrypted currency has reached $ 0.01 with the last rise, and of course there is a compelling reason for people to turn to it.
Why is the currency of Bytecoin higher?
The forgotten currency returned to the spotlight after the Binance platform inserted it and added it to coded currencies that could be traded.
This is the largest Japanese platform in the world, which daily profits of up to 3.5 million US dollars more than any competing platform.
Many Asian traders prefer this platform to their ease and suitability with Asian markets, so any currency added to the platform would be more popular.
The addition of Bytecoin currency and its availability at this low price to push traders to buy and buy good quantities of them during the past hours, hoping to sell and achieve good profits if it reached the future to good levels.
The number is not expected to reach tens of dollars, which remains a difficult challenge not achieved by fewer currencies and savings such as the more popular XRP and NEM.
And betting on the currency to achieve great success and very important and that the decision of Binance competitors to add to their platforms and therefore made them available to a larger audience.
Is it advisable to invest in it?
Bytecoin Currency is one of the encrypted currencies available for those who wish to receive large quantities of currency units encrypted with a small budget and sell them and achieve a good profit margin.
But the drawback as we mentioned earlier is the high number of high levels, and could increase to more than 184 billion units thanks to mining, which increases supply and reduces the price.
For me, it does not have a special project that can be bet on strongly, and in the end it can go back after this wave in favor of better coded currencies.