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Siacoin (SC): Everything you Wanted to Know before Investing!

Siacoin token (SC) is one of the most popular cryptocurrencies in the crypto market (having more than 15,000 cryptocurrencies) currently. In terms of market cap, it is currently the 113th largest digital currency (over US$772.87 million in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through the SC token, how it works, and many more. 

What is the Siacoin Token (SC)? How does it Work?

Sia is a distributed, decentralized cloud storage platform that is based on blockchain technology. This platform is a secure and trustless marketplace for cloud storage. As a user, you can lease access to your unused storage space. Smart contracts enforce agreements as well as transactions. Siacoin is the medium of exchange to pay for network storage. This project wants to become the internet’s backbone storage layer. 

In direct competition to major cloud storage providers including Microsoft, Google, and Amazon, Sia decentralized cloud storage platform offers competitive storage rates. The unique aspect of the Sia network is that the files here are stored in 30 encrypted segments. Each of the 30 encrypted segments is uploaded to a unique host for redundancy. 

On the blockchain of Sia, the uploader-host agreement is recorded. Renters use Siacoin (SC) to make payments for paying hosts. SC is locked by hosts in smart contracts as collateral.

On the Sia network, Skynet has announced many products including:

  • SiaStream: A cloud-based media streaming app.
  • Skynet network: A flagship network for content delivery and file sharing 

David Vorick conceived the idea of the Sia project in mid-2013. He later discussed the project with his college friend Luke Champine. Both co-founded the project in early-2014. The project is named after the Egyptian god of perception. In May 2014, the Sia project was announced originally. However, the project was revised and re-announced in May 2015. Nebulous Inc. is the company both of them incorporated and was later rebranded to Skynet.

Several rounds of funding/grants have been received by the company from:

  • Bain Capital Ventures
  • Paradigm
  • INBlockchain

A 3.9% fee is levied on each storage-related transaction on this network. This fee, in turn, is distributed to the hodlers of Siafund, the second cryptocurrency of the company. Skynet holds around 85% of all Siafund crypto. 

Siacoin Token (SC): Facts & Figures

All these facts and figures (as of December 29, 2021) will help you to make a decision on investing in the SC token. Before making Siacoin token transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • Siacoin Network Token SC Price: US$0.01557 (SC Current Price)
  • 24hour Trading Volume (24h Volume): US$24,208,620
  • All-Time High (ATH) Price: US$0.1117 (reached on Jan 06, 2018)
  • All Time Low (ATL) Price: US$0.00001131 (reached on Dec 01, 2015)
  • 24h Low: US$0.01538
  • 7d Low: US$0.01538
  • 30d Low: US$0.01424
  • 90d Low: US$0.01424
  • 52 Week Low: US$0.002975
  • YTD (Year-To-Date) Return: 382.11% YTD (Year-To-Date)
  • Market Cap: US$772,874,768 (US$ 772.87 million)
  • Crypto Rank (in terms of market cap): 113th in the crypto market
  • Fully Diluted Market Cap: US$770,947,391
  • Max Supply:
  • Total Supply: 49,699,192,992
  • Circulating Supply: 49.70 billion SC

If you check the Siacoin price chart and price history, you’ll find that since its launch, the price of SC has in fact increased by +33,755.88%. Since its all-time low, it has bounced back by +137,052.94%. From its ATH, the current SC price is still -86.11% down. So, before buying SC tokens, you should check the fundamental and technical factors.

Always check out SC markets, the ways to earn Siacoin tokens, market data, key metrics, comparison tools, and technical price analysis, top cryptocurrency price, and cryptocurrency news before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins, know the ways of buying cryptocurrencies, and how to earn crypto easily. 

Siacoin SC Token Price Prediction

  • According to Wallet Investor, the average price of SC is going to reach around:
  • US$0.03085 by 2022
  • US$0.0842 by 2026

  • According to DigitalCoinPrice, the average price of SC is going to reach:
  • US$0.02416870080 by 2022
  • US$0.02680724078 by 2023
  • US$0.03164799931 by 2024
  • US$0.03120560962 by 2025
  • US$0.04076681992 by 2026
  • US$0.05364932529 by 2027
  • US$0.06611434145 by 2028

  • According to Trading Beasts, the maximum price of SC is going to reach:
  • US$0.0202422 by 2022
  • US$0.0216068 by 2023
  • US$0.0282673 by 2024

  • According to GOV Capital, the average price of SC is going to reach:
  • US$0.0279 by 2022
  • US$0.0425 by 2023
  • US$0.0611 by 2024
  • US$0.0793 by 2025
  • US$0.100054 by 2026

Where can you Buy SC tokens?

You can buy SC tokens in almost all reputed cryptocurrency exchanges including:

  • Binance
  • Kraken
  • Bittrex
  • Poloniex
  • Huobi Global
  • OKEx
  •, 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 SC are:

  • SC/BTC
  • SC/EUR
  • SC/USD
  • SC/ETH, and many more.

Before investing, check out SC history and its historical data, crypto news, SC token price charts, price performance, market updates, SC to USD (United States Dollar) exchange rate, the value of SC token, the Bitcoin price trend (as SC is one of the hard forks of the original Bitcoin token), trading fees, and others.

What are the Best Crypto Wallets to Store SC tokens?

The best SC token cryptocurrency wallets to store SC coins are:

  1. Ledger Wallet
  2. Trezor Wallet
  3. Math Wallet
  4. Trust Wallet
  5. Sia.UI

Invest in SC token and Other Cryptocurrencies

You can buy and sell SC and other virtual currencies against various fiat currencies (US Dollar USD, British Pound Sterling, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Taiwan Dollar, Russian Ruble, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile app, and SC token 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 digital assets such as SC, XMR, FIL, ETC, WBTC, BCH, BTC ETH, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Dogecoin price, 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 check whether you can exchange Siacoin token with the fiat currencies of other countries such as South Africa, Saudi Arabia, the Republic of the Congo, United Arab Emirates, United Kingdom, South Korea, and other countries.

Invest in cryptocurrencies, 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. You can also increase your income through yield farming, using Telegram bots and other automated trading bots, and many more.

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NapBots provides you with various indices that include a basket of tokens with high market capitalization and is 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.

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