As a popular means of storage, our BCMY wallet has been gaining popularity – more and more people are using it, and there are at least ten thousand downloads as per June 6, 2018. As we keep growing, we also continue developing. With the most recent addition of Ripple (XRP) we now offer one more cryptocurrency to give users more freedom of choice, on top of the cryptos already utilized: Bitcoin (BTC), Ether/Ethereum (ETH), Zcash (ZEC), DinarCoin (DNC), and Gold Smart Contracts (GSC). The DinarCoin, is also interesting as it is currently being prepared to be listed on CoinMarketCap.com, a website that offers useful information for crypto adopters and enthusiasts. With these 6 crypto assets available to be stored in our wallet, let’s take an overview of what they really are and how they can help your personal finances.

Bitcoin (BTC)

Ah, Bitcoin – the mother of all cryptocurrencies out there. As the pioneering crypto, Bitcoin also introduced blockchain technology – which has been spreading these past few years. While the debate continues on regarding who the founder, Satoshi Nakamoto, could really be, the nature of Bitcoin makes it interesting to many people. Bitcoin was built on the foundation of a “free-for-all” currency. This means Bitcoin takes away the problems that exist with traditional currencies (such as the USD): lack of privacy, inflation, higher costs, etc. Bitcoin works peer-to-peer, which means it doesn’t need a single entity (like a central bank) controlling its transactions, bringing benefits to its users.  

While in 2010 10,000 Bitcoins were used to pay for two pizzas, one single Bitcoin’s value recently sat at around $7,419. Although this is quite a decrease from its all time high of around $19,783, it has still provided many of its users and investors with much increase.

Bitcoin currently ranks number 1 on the CoinMarketCap website, and is still being widely adopted despite its price fall.

Ethereum (ETH)

If Bitcoin was developed as a currency, Ethereum was founded on the premise of building a giant, decentralized, super computer, where users can directly participate in node confirmations and help others build decentralized applications on the Ethereum network.

Ethereum has taken the number 2 spot on the CoinMarketCap website for a while now, and it looks like it doesn’t want to give up its spot any time soon. While 2,000 ETH was equivalent to 1 BTC (about $630) in June 2014 (during its pre-sale period), just 1 ETH was recently at the price of around $587.11.

As a platform that offers flexibility and more freedom for app developers, Ethereum is also widely adopted, as shown by its rapidly growing amount of wallets.

Zcash (ZEC)

Zcash is also another cryptocurrency, but it is different in that it offers more privacy with its Zerocoin protocol. Zcash was first introduced on October 28, 2016, and has seen a tremendous growth of users and adopters since then. Zcash now sits strongly in the 25th spot on CoinMarketCap.com, with 1 Zcash recently being valued at around $231.27.

By supporting Zcash in our wallet, we hope to provide an alternative for our users who really value their privacy. Zcash’s all time low was $30, while its all-time high was at $876. They are also available to purchase at many different marketplaces.

Ripple (XRP)

This latest addition to our wallet is basically a payment protocol with its own native token (XRP). Ripple supports a real-time gross settlement system (RTGS), and arguably can be seen as the cryptocurrency with the closest relationships to banks and financial institutions. This is because Ripple’s technology is being widely adopted by them, and was in fact made for them.

Ripple’s rank on CoinMarketCap.com was recently at #3. One XRP was recently equivalent to around $0.65, while during its bull run, its all-time high was at $3. With the fact that Ripple is friendly to financial institutions and widely adopted by people around the world, we have implemented the support needed to add this currency to our wallet.

DinarCoin (DNC)

This alternative coin serves as an option to our more conservative investors. The creators of this coin, DinarDirham, created it based on the worldwide gold spot price, therefore giving it a value that is more stable and less volatile.

DinarCoin is created on the Ethereum blockchain, meaning it’s safe and makes good use of some of the best tech.

At this moment DinarCoin is currently being prepared to be listed on CoinMarketCap.com, which will allow people to buy it directly from the website. This will hopefully facilitate greater adoption and help to promote it.

Gold Smart Contract (GSC)

This is a smart contract to help facilitate users in buying physical gold by utilizing the power of the Ethereum blockchain.

Basically, users can get GSC from other users that decide to sell their GSCs. This can be done on our platform. GSC is used and created as proof of gold’s ownership. This can then later be exchanged with real gold bullion.

We support this function in our BCMY wallet, making it complementary with DinarCoin (DNC) and a great alternative for those who enjoy owning gold.

With the current 6 assets that we have made available to be stored, used, and exchanged in our BCMY wallet (which is equipped with the best cutting-edge technologies), we hope we can help facilitate growth and adoption. As proven by various facts these days (including by these top 10 Bitcoin-friendly countries) it seems that cryptocurrencies are always developing and not dying, so this is exactly what we are doing: making a safe, secure, and practical wallet for users and believers of cryptocurrencies. We are working hand-in-hand with the crypto world to boost its growth and promote its adoption. If cryptos were the left hand, then we are their trusted right hand which complements them. Whether you are just looking into cryptocurrencies or are an experienced trader, you can download our wallet (which includes very safe, biometric, facial recognition technology). If you want to learn more about our wallet and what other features and advantages it has to offer, click here.

Be cryptonized!