The appearance of Bytecoin was the expected step in meeting the needs of the cryptocurrency community, which by 2012, when Bytecoin entered the world, no longer wanted to be satisfied with the anonymity algorithms of BTC and similar coins. Keep reading to explore what is Bytecoin and how it works. One solution was the implementation of a new currency based on the Cryptonote algorithm, which provides a high degree of anonymity of transaction participants. An additional barrier to anonymity is the protection of network data based on complex cryptographic algorithms. The development of new assets of that time was an extension of the functionality of the Bitcoin network in new forks of its source code.
How to Buy Bytecoin?
To buy Bytecoin, this coin is traded on the largest trading floors, Poloniex, HitBTC, Binance, and others. The turnover on them is not great, however, many customers use them as a storehouse for less popular coins, which are available for exchange or withdrawal at any time. The user creates any number of new wallets, can delete empty and configure a few, but effective security settings in your account. The threat, as in the first case, can be malicious programs that substitute the payment destination address or send authorization data.