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Bitcoin SV: Everything you Wanted to Know as a Beginner before Investing!

Bitcoin SV (BSV) is one of the top 50 most popular cryptocurrencies currently. In terms of market cap, it is currently the 50th largest digital currency (over US$3.24 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through Bitcoin SV, how it works, and many more.

What Is Bitcoin SV Coin (BSV)?

Bitcoin SV was created in 2018 after a hard fork of the Bitcoin Cash (BCH) blockchain, which was itself created from a hard fork in 2017. Bitcoin SV’s aim was to fulfill Satoshi Nakamoto’s original vision (as mentioned in Bitcoin’s original whitepaper, which is also called Satoshi writings) of Bitcoin’s protocol as well as design. 

Denoted as BSV, the Bitcoin SV protocol (the original bitcoin protocol) wants to:

  1. Offer its users scalability and stability to the peer-to-peer electronic cash system, as per original Bitcoin description (Satoshis vision BSV).
  2. Deliver a distributed data network, which is capable of supporting advanced enterprise-level blockchain applications.

With the launch of Bitcoin SV, following the hard fork in 2018, the artificial block size limit has been removed. This new BSV protocol also re-enables Script commands and other technical capabilities that were disabled historically or restricted by the Bitcoin blockchain technology developers’ protocol. 

These changes have helped the network to:

  • Process tens of thousands of Transactions Per Second (TPS) in contrast to Bitcoin’s 7 TPS. 
  • Maintain extremely low transaction fees for micropayments.
  • Provide advanced capabilities like:
  • Smart contracts
  • Tokens
  • Computation and other data use cases

The unique thing about the BSV network is that of its unbounded capacity of on-chain scaling. In fact, it is also more aligned to Bitcoin’s original design (Bitcoin Satoshi vision) than any other blockchain currently.

The vocal advocates of Bitcoin SV are nChain Chief Scientist Craig Wright (who also claims to be the original Satoshi Nakamoto) and entrepreneur Calvin Ayre. The Bitcoin SV Infrastructure Team (provided by nChain) works on the BSV network’s node software and other infrastructure tools are provided by 

Bitcoin SV (BSV): Facts & Figures

All these facts and figures (as of Oct 21, 2021) will help you to make a decision on investing in Bitcoin SV. Before making BSV transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • BSV Price: US$172.51
  • Trading Volume (24h volume): US$264,613,970
  • All-Time High (ATH) Price: US$491.64 (reached on Apr 16, 2021)
  • All Time Low (ATL) Price: US$36.87 (reached on Nov 23, 2018)
  • 24h Low: US$171.27
  • 7d Low: US$165.56
  • YTD (Year-To-Date) Return: 7.54% YTD (Year-To-Date)
  • Market Cap: US$3,256,221,952 (US$3.26 billion)
  • Crypto Rank (in terms of market cap): 50
  • Fully Diluted Market Cap: US$3,622,739,388
  • Max Supply: 21,000,000
  • Total Supply: 18,875,402
  • Circulating Supply: 18,875,401.64 BSV (90%)

These are the facts that made Bitcoin SV a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins. 

How Is the Bitcoin SV Network Secured?

The proof of work consensus mechanism (as described by the Satoshi Nakamoto written whitepaper) secures the BSV network. For adding a block of new transactions to a blockchain, the BTC miners should use the processing power of a computer to solve a complex mathematical problem. The block reward, as well as transaction fees, will be awarded to that miner who has solved this complex mathematical problem first. With more blocks being added on top of another block in a blockchain, other nodes ratify the validity of the transactions now stored on the chain and in turn make it difficult and virtually impossible for alteration.

Where can you Buy Bitcoin SV Tokens?

You can buy BSV coins in almost all reputed cryptocurrency exchanges including:

  1. OKEx
  2. KuCoin
  3. Huobi
  4. Bitfinex
  5. Bittrex
  6. Bithumb, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular price pairs of FIL are:

  • BSV/USD
  • BSV/USDT
  • BSV/BTC
  • BSV/USDC
  • BSV/EUR
  • BSV/RUB, and many more.

Before investing, check out historical data of token Bitcoin SV, crypto news, Bitcoin SV price charts, Bitcoin SV to BTC exchange rate, and others.

What are the Best Crypto Wallets to Store Bitcoin SV Tokens?

The best Bitcoin SV wallets to store Bitcoin SV coins are:

  1. Ledger Nano S Wallet
  2. Atomic Wallet
  3. Guarda Wallet
  4. Electrum SV 
  5. Exodus Wallet 
  6. Coinomi Wallet 
  7. CentBee 
  8. Edge Wallet
  9. Blockchain Multi-platform Wallet
  10. HandCash Wallet

Invest in Bitcoin SV and Other Cryptocurrencies

You can buy and sell BSV and other virtual currencies against various fiat currencies (US Dollar USD, British Pound, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs/mobile app, and Bitcoin SV markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other cryptocurrencies such as Bitcoin SV, XMR, FIL, ETC, WBTC, BCH, BTC ETH BCH, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return.

Invest in NapBots: A Dynamic Cryptocurrency Index

Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies for enabling cryptocurrency investors to streamline their trading experience in new ways. 

NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error. 
Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading crypto-assets at reduced financial barriers and no human error.