What is FantomCoin (FCN)?
Future of FCN Cryptocurrency and know how to buy FCN

#1 – What is FantomCoin?

FantomCoin: The Basics

  1. FantomCoin is the first cryptocurrency based on the CryptoNote Algorithm to support merged mining that has seen a release in the market.
  2. The currency can be mined along with other CryptoNote currencies, which are ByteCoin, Monero and QuazarCoin, and promises privacy and anonymity in transactions.

FantomCoin Development

Unfortunately, the FantomCoin website is a bit limited, and doesn’t list any team for the cryptocurrency. As such, we don’t really know who is behind the currency, and the website has no details of any founder or developers. Potential red flags, these.

 

#2 – What are the advantages of FantomCoin?

FantomCoin Technology

  1. FantomCoin uses the CryptoNote mining protocol, and can be mined using a 64-bit CPU. This means you don’t need expensive hardware to engage in FantomCoin mining.
  2. CryptoNote is an open source algorithm which enables users to make transactions with high levels of privacy. This technology uses ring signatures rather than ordinary signatures to validate a transaction, which enable all parties in a transaction to remain anonymous.
  3. Ring signatures make it difficult to determine whose private key among a group of users was used in the transaction, making the users between whom the transaction is taking place, anonymous.

 

#3 – How to buy and store FantomCoin coins (FCN)?

How to buy FCN

FantomCoin (FCN) are available on only HitBTC (as of July 2018), in exchange for Bitcoin. This is extremely surprising, since the currency has been around for just about 4 years already. It was available on some other exchanges a while back, but for now, you can only buy FCN by paying bitcoin on HitBTC.

  1. The currency was available on more platforms in the past, and it could make a comeback any time. When it does, choosing which platform to buy it from can be difficult. This is where CoinSwitch comes in. One of the best cryptocurrency exchanges out there, it supporting more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your FCN token, and CoinSwitch will help you decide by displaying the prices all at the same place.
  2. What’s more - with CoinSwitch, you do not need to create wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

FCN Storage

  1. It’s best to store any cryptocurrency in its own native wallet if it has one, and FantomCoin does have one. It’s a desktop wallet, compatible with Windows, Linux and Mac Operating Systems.
  2. You can also store your FantomCoin (FCN) tokens in the Freewallet mobile app, compatible with Android and iOS smartphones.

 

#4 – What is the future of FantomCoin?

Also Read: Complete Analysis of FantomCoin | Live FantomCoin (FCN) Price Charts And Predictions

Market Cap and Global Acceptance

  1. FantomCoin is a mineable cryptocurrency, and not many coins have been mined yet. Less than half of its maximum supply of 18.4 million coins are in circulation as of July 2018.
  2. FantomCoin’s current circulating supply (as of July 2018) is about 7.27 million FCN. It has a market cap of less than $1 million, currently only at around 865 thousand dollars, with a value of $0.119 per coin.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 04, 2018

0.117005

0.12395

0.110469

0.118317

1,724

8,50,865

Jul 01, 2018

0.146909

0.147727

0.126256

0.139609

1,343

10,68,330

Jun 01, 2018

0.127358

0.128131

0.117838

0.120318

289

9,26,150

May 01, 2018

0.129372

0.135318

0.124122

0.127358

16

9,33,686

Apr 01, 2018

0.103947

0.108894

0.090276

0.101876

197

7,38,186

Mar 01, 2018

0.196175

0.216221

0.19159

0.196771

400

13,69,380

Feb 01, 2018

0.183068

0.204286

0.155559

0.163804

358

12,57,580

Jan 01, 2018

0.363514

0.386594

0.311478

0.351064

2,890

22,50,220

Dec 01, 2017

0.359751

0.475971

0.292409

0.39217

23,374

22,26,920

Nov 01, 2017

0.090215

0.113247

0.089119

0.107538

1,407

5,58,447

Oct 01, 2017

0.130345

0.130936

0.111537

0.118693

880

8,06,858

Sep 01, 2017

0.18005

0.196803

0.168821

0.186874

1,983

11,14,540

Aug 01, 2017

0.080145

0.080145

0.069104

0.073706

119

4,90,036

Jul 01, 2017

0.080909

0.083766

0.073145

0.079441

1,031

4,84,001

Mar 01, 2017

0.021241

0.021333

0.017695

0.018338

6

1,15,807

Nov 01, 2016

0.06519

0.073779

0.059373

0.062745

1,740

3,19,757

Jul 01, 2016

0.005387

0.012879

0.005357

0.005408

28

23,326

Mar 01, 2016

0.007441

0.008739

0.006921

0.008702

18

27,897

Nov 01, 2015

0.002513

0.00262

0.002495

0.002606

0

7,865

Jul 01, 2015

0.006051

0.006099

0.005883

0.005949

9

14,960

Mar 01, 2015

0.007628

0.00785

0.007378

0.007811

0

13,668

Nov 01, 2014

0.006773

0.007136

0.006453

0.006515

1

7,408

Jun 08, 2014

0.085645

0.085645

0.085017

0.085383

5

17,884

Trends so far

  1. In its 4 years of existence, FantomCoin has certainly had its ups and downs. Its value was initially at $0.085 when it was launched in June 2014, and it has had its fair share of volatility. Its all-time-low was $0.0014 in September 2015, and its peak was at $0.569 USD in December 2017. For all its ups and downs, the value of the FantomCoin has never risen much above 1 USD. Its current value, as of July 2018, is $0.119 per token.
  2. For such an old cryptocurrency, FantomCoin is not doing well at all in terms of global market cap rankings. Barely even among the first 1000 cryptocurrencies worldwide, it is currently ranked at 872 in terms of market cap (as of July 2018).
  3. The low rank makes FantomCoin seem like a terrible investment option, especially since it’s been around for a while, even longer than top cryptocurrencies like ZCash and Ethereum. It also doesn’t seem to be picking up pace anytime soon. But there is still potential in the coin waiting to be tapped, because more than half the total supply is yet to be mined.

 

#5 – What makes FantomCoin different from other cryptocurrencies?

  1. FantomCoin is the oldest cryptocurrency based on the CryptoNote algorithm to support merged mining, and also one of the first to not need a GPU for mining the currency.
  2. The privacy that FantomCoin promises during transactions is complete and true, and though new technology keeps coming up to enhance privacy, FantomCoin will always remain one of the first to come up with the idea in the first place.

 

#6 – Should you invest in FCN?

  1. The lack of updates on any page related to FantomCoin and the general lethargy around the cryptocurrency makes it look like a terrible investment option. It doesn’t really bring anything new or revolutionary to the table in the present situation, though it was revolutionary when it was launched four years back. This makes it even more unattractive as an investment option.
  2. However, more than half the FCN coins in the crypto space are yet to be mined, and people will end up mining FCN when they set out to mine more popular cryptocurrencies like Monero and ByteCoin. The market cap is highly likely to shoot up as more of the coins get mined, making it a sound long-term investment.
  3. Of course, as always, caution must be exercised while investing in such a cryptocurrency, as only a hope that it’ll appreciate in value is unlikely to actually boost the coin’s value.
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