Bytecoin Investors Worried About the Safety of their Investment - Bytecoin (BCN) News. Monday, September 17
Bytecoin Cryptocurrency News
Bytecoin Investors Worried About the Safety of their Investment
The situation of Bytecoin is such that many investors believe that their funds may have been lost. This is despite the fact that the coin recently increased in value by 166 percent in a situation that has raised doubt of many exchanges and resulted in the irregular display of the coin data among exchanges because there are fears of market manipulation.
There has been increase in volume after the coin was listed by Binance but this has not been reflected in many exchanges that view Bytecoin as a pump and dump coin.
Recently, the team behind the project promised to host an AMA to resolve some of the issues bothering the investors but even this has not made the problems go away. Complicating issues is that holders of the coin are finding it extremely difficult in liquidating them at any exchange. One investor complained that he has lost $2800 due to the investment he made in Bytecoin.
The problem of the digital token started after it was discovered that the coin was pre-mined. This made the team behind it lose the confidence of the coin community and since then, there have been other coins using similar protocols but with more transparent structure therefore making most investors keep off Bytecoin.
The situation today is that few want to get in while most want out. The team is working very hard to reassure the investors but what many people want to know is if they can be able to recover their investments.
Bytecoin is trading at $0.001864 reflecting a 3.58 percent loss over the past 24 hours. With a market cap of $343 million, the digital currency is listed at number 25 and has traded $2.7 million in the course of one day. Hitbtc, Binance and Poloniex are the major exchanges trading the bulk of Bytecoin volumes.
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