$ 0.5492 right now
Trade name: BCD
Year of Foundation: 2017
Bitcoin Diamond is based on the Bitcoin core, and the focus here is on the privacy side of the coin. The thing to note here is that transactions are encrypted differently compared to BTC. As a result, this offers a lot more privacy, similar to the Monero coin. The difference between Bitcoin Diamond and Bitcoin is that its supply is multiplied by 10, so it’s a lot larger as a result.
Another thing to keep in mind is that Bitcoin Diamond uses legacy signing for the non-SegWit transactions. For the SegWit transactions, it has BIP143 for the regular transactions.
People that mine Bitcoin Diamond use an X13 algorithm and that means mostly GPU miners focus on using something like this. It’s not requiring the Bitcoin blockchain either, something that is a very important thing for you to take into consider here.
From the very beginning, Bitcoin Diamond currency was a free dividend for BTC holders. But in time it became its own thing, mainly because it has a true focus on privacy and a lot of people like that aspect of the coin.
What about performance?
Bitcoin Diamond was launched in November 2017, when cryptocurrencies were doing very well. The prices dropped to the point where you will have around $10 per Bitcoin Diamond, maybe even less depends on the situation. But just like any currency like this, the price is fluctuating and that can bring in quite the challenge if you want to invest in it. For the most part, Bitcoin Diamond delivers a huge range of great benefits if you want to be a part of the bitcoin world.
It’s not as popular as Bitcoin, but the privacy focus is one of the selling points. It’s used pretty much like Bitcoin, only you will have a different encryption system when you transfer it, that’s all the change you will see here.
Should I invest in Bitcoin Diamond?
Bitcoin Diamond is created for its own ideological and technical reasons. It’s controlled by an anonymous organization, and that doesn’t exactly show that you can trust the coin that much. Bitcoin Diamond does perform very well on some exchanges, but for the most part investing in it can have high risks.
You need to pay a lot of attention and you be very careful with the way you invest here. As long as you are fully committed to value, the results can be second to none with the coin. But yes, it all comes down to preferences and performance. Bitcoin Diamond is a pretty good candidate in that perspective!