What to consider if buying Bitcoin Diamond
What to consider if buying Bitcoin Diamond
Cryptocurrencies are complicated and volatile assets, so buying or selling any coin or token comes with a high level of risk attached. Before you buy Bitcoin Diamond, make sure you conduct a balanced assessment of all the factors that could have an impact on the price of this new digital currency."What to consider if buying Bitcoin Diamond"
Some of the issues you’ll need to take into account include:
Supply. According to CoinMarketCap, at the time of this writing (April 2018) Bitcoin Diamond had a circulating supply of 153,318,000 BCD out of an available supply of 156,318,000 BCD. Maximum supply is capped at 210 million, 10 times the amount of bitcoin’s maximum limit.
Anonymous team. The team behind Bitcoin Diamond has so far remained anonymous, which is far from unusual for a cryptocurrency project, but it may raise red flags for some prospective buyers.
Criticism. Some crypto enthusiasts have criticized BCD, and a host of other bitcoin forks for that matter, for simply trying to cash in on the prestige of the bitcoin name. It’s up to you to decide whether the coin is just a quick cash grab or whether it’s actually trying to solve some very real problems with bitcoin.
Too many bitcoin spin-offs. The differences between Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond and all the other similarly named coins can be confusing and even overwhelming for crypto newcomers, which could potentially affect the uptake of BCD.
Ability to achieve widespread adoption. Bitcoin Diamond certainly offers some key advantages over bitcoin including faster transactions and a higher level of privacy. However, whether or not these advantages will be enough to encourage widespread demand for and adoption of BCD remains to be seen.
Bearing in mind the above while considering your own research, you should be well positioned to decide whether Bitcoin Diamond is a buy or whether it’s a coin to be avoided.
What to consider if buying Bitcoin Diamond
Reviewed by mir khaleq ali
on
10:38
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Reviewed by mir khaleq ali
on
10:38
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