About Bytecoin (BCN)weiss-badge

Overview

Bytecoin is an open source, private and decentralised currency based on CryptoNote Technology. Bytecoin payments are untraceable and unlinkable resulting in true anonymity regarding your total BCN holdings. The blockchain behind Bytecoin is fast and flexible; there are no hard-coded contraints, and a block is created every two minutes.

Technology

To make payments untraceable, Bytecoin employs a ring signature verification process. Essentially, a group of the network's users are merged to produce a group consisting of the actual signer, and several non-signers, all of whom are considered valid and equal. The non-signers come from past transactions in the blockchain and act as a decoy, hiding the origin of the current transaction. The use of a key image prevents double spending from occurring. CryptoNote technology derives multiple one-time keys from a user's single public key. This method results in complete financial privacy as no one can determine the amount of BCN you hold in total by exploring one, or even multiple, of your one-time keys. For more detailed information on how this makes the Bytecoin blockchain analysis resistant, please refer to the CryptoNote Phylosophy.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

Buy Bytecoin (BCN)weiss-badge

Trading Hours:
9am – 10pm, 7 days.

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Need to know

We run a tight ship here at Bitprime. Before purchasing, all customers must:

Register a user account with us.

Verify your ID.

Login before purchasing.

Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

Buy Bitcoin

Due to the price of sending and sourcing BTC the minimum order is $500.00.

Trading Hours:
9am – midnight, 7 days.

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