What is Bitcoin Diamond (BCD)? Things to know about BCD coin 2020

Bitcoin Diamond, a cryptocurrency created from the Bitcoin blockchain hardfork. So…

  • What is Bitcoin Diamond? What is BCD coin?
  • Should I invest BCD coin are not?
  • Buy and sell BCD coin Where is the reputation?
  • Bitcoin Diamond Wallet Which should be used?

If you are looking to find out Bitcoin Diamond and potential invest BCD coin, this article is what you need to find

What are you waiting for, let’s start the article!

Maybe you are interested: What is Bitcoin? Bitcoin investment guide for beginners?

What is Bitcoin Diamond?

As noted above, Bitcoin Diamond (BCD) is a cryptocurrency created from Bitcoin blockchain hardfork.

You may not know: What is a hard fork? What is soft fork? Let’s learn about these terms

batch hardfork create Bitcoin Diamond took place on 11/24/2017 at block number 495866 (Bitcoin’s block height). Whoever holds Bitcoin in private wallets before block 495866 will all receive Bitcoin Diamond (BCD) with a ratio of 1:10. That is, hold 1 BTC will receive 10 BCD.

hardfork-bitcoin-diamond

Executive and Development Team Bitcoin Diamond to be Team EVEY and Team 007 based in Singapore.

Difference between Bitcoin Diamond and Bitcoin

Basically Bitcoin Diamond quite similar to Bitcoin. However, Bitcoin Diamond There are also some differences compared to Bitcoin and other coins created from the Bitcoin hardfork.

Those differences are:

  • The maximum total supply of BCD is 10 times more than BTC

The first difference is the total supply of BCD. Bitcoin Diamond has a maximum total supply of 210 million BCD, 10 times more than Bitcoin’s 21 million BTC.

The next difference is that Bitcoin Diamond uses the ASIC-resistant Optimize X13 mining algorithm. While Bitcoin uses SHA256 algorithm which is not ASIC resistant.

The block size in the Bitcoin Diamond blockchain is 8mb, 8 times the 1mb figure of Bitcoin. With a larger block size, Bitcoin Diamond promises higher transaction speeds.

With Replay Protection, Bitcoin Diamond ensures the transaction will not be hacked once the confirmation has been completed.

This solution helps Bitcoin Diamond reduce on-chain transaction pressure, thereby improving transaction speed.

Basic information of BCD coin

Token symbol BCD
Blockchain Bitcoin Diamond
Consensus protocol Proof of Work (PoW)
Maximum total supply 210 million BCD
Total coins in circulation 186,492,898 BCD
Block reward 125 BCD
Block generation time 10 minutes

What is Bitcoin Diamond (BCD) used for?

Aimed at as a currency that can replace fiat currency should Bitcoin Diamond (BCD) can be used as a means of payment for BCD-enabled products and services.

Besides BCD coin It is also used to pay transaction fees in the network Bitcoin Diamond blockchain. Along with that is using BCD to pay block rewards to participants who confirm transactions in the network.

How to mine Bitcoin Diamond

Similar to Bitcoin, Bitcoin Diamond also use protocol PoW so you can Bitcoin Diamond Mining.

You may be interested: What is Bitcoin Mining? Detailed Beginner’s Guide from AZ

However, with the X13 algorithm, you cannot use a dedicated Bitcoin mining device (ASIC) to Bitcoin Diamond Mining. Therefore you can only use the GPU to Mining BCD coin.

You can choose between setting up the miner yourself or joining the BCD đào mining pool. However, at the present time to maximize profits from Bitcoin Diamond Mining I think you should choose to join the mining pool to mine BCD.

The list of BCD mining pools you can refer to is at the link: https://wheretomine.io/coins/bitcoin-diamond

Should I invest in Bitcoin Diamond (BCD coin)?

Deciding exactly which coin or token to invest in is very difficult because the cryptocurrency market is very volatile. So, I will outline some key points for you to refer to then learn more and make your own judgment and investment decisions.

Development team

According to Bitcoin Diamond’s homepage, its development team is a collection of experienced people from many different countries. They are all members of well-known organizations and are leading influencers in the crypto industry, especially in the Asia region.

However, the specific identity of the group has not been released. That is, the group operates anonymously.

You can refer to some information about the team via the link: https://www.bitcoindiamond.org/our-team/

Development roadmap

Since June 2019, the development team has not given any information related to the specific development roadmap of the project. This leads to a lot of questions about whether the team is really serious about this project? Or worse, is Bitcoin Diamond’s development team still active?

With a project if for a long time there are no new updates to improve the platform and competitiveness, it is likely to be left behind by its competitors. Thereby negatively impacting the coin investment potential of that project, BCD coin Is no exception.

BCD coin price

gia-bcd-coin

Currently, at the time of writing price BCD coin is being traded at 0.598 USD. Level highest BCD price was set at $99.37 (November 2017). That is, compared to the peak price, then BCD coin price currently dividing nearly 166 times. Yes, it’s 166x, a difference that makes you pay attention when you want invest BCD coin.

Meanwhile, BCD’s all-time low of $0.266 was set on March 13, 2020.

Where to buy and sell BCD coin?

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy BCD coin, sell BCD has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell BCD coin in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy BCD For prestige, I think the best currently is the Bitmoon exchange.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

Prestigious international BCD trading floor

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the name of the exchange and a comparison table of transaction fees for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Exchanges Transaction fee
Houbi 0.070-0.20%
Okex 0.060 – 0.150%
Binance 0.015-0.100%

Mainly trading BCD Your account on international exchanges uses ETH, BTC, etc. to buy and sell.

Recommended Bitcoin Diamond Wallet

Currently, you can store BCD above the wallet developed by Bitcoin Diamond itself, is BCD Pay Wallet.

This wallet is now available for smartphone devices. It supports both Android and iOS operating systems.

In addition, you can also store BCD on some 3rd party wallets that support Bitcoin Diamond such as: Atomic Wallet, Bitpie, Magnum, Paytomat…

Besides, if you regularly trade BCD coin, you can choose to store it on the wallets of the exchanges.

Some Reputable trading platform that you can refer to are: Bitmoon exchange, Huobi exchange, Binance exchange…

Conclude

This article has summarized the most basic information you need to know about Bitcoin Diamond and BCD coin. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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