Are you curious about the price prediction on Siacoin? You have come to the right place for a Siacoin price prediction. We will discuss all you need to know about Siacoin’s price, including the exchanges to trade it and pairs.
What is Siacoin?
Siacoin provides a solution to the data storage space challenges social media users and traditional cloud storage providers have been facing. You might need storage space and find it difficult to access one. You might have maxed out your hard drive capacity.
Well, Siacoin has come with a solution.
It provides a decentralized cloud storage platform for users. Users of the blockchain network can lend out their vacant storage space to fellow community members. It makes an open-source platform available for the development of decentralized storage. With this system, the cloud storage technology just got a boost.
The technology makes it possible to encrypt data for safety reasons, split it, and share it in nodes. The information is stored safely and even reassembled. This technology is similar to what is used by the eminent cryptocurrency.
There are fees involved in this storage system for keeping and sharing things, like hosting fees. These charges can be paid using the native currency of the platform.
These whole transactions can be done using smart contracts. With these smart storage contracts, the whole process can be done without involving a third party. It will work with the set of rules imputed to it and automatically execute itself.
Now that it is clear that Siacoin is a worthy coin. Let’s go into the price prediction proper. You will learn all you need to from the Siacoin price forecast.
Siacoin SC price prediction
Siacoin has great potential in the cryptocurrency space. It is an intelligent alternative to the traditional storage system and covers the shortcomings that have been a drawback for the centralized system. It aims to overtake the centralized system of data storage.
What is on people’s minds is if the middleman can be totally removed and Siacoin becomes the leading cloud storage provider. Well, there is potential. Siacoin is actually cheaper compared to the centralized option. Yet, SC value is in no form diminished.
Also, if the developers can imprint Siacoin on users’ minds and direct traffic their way, it will excel. If their product is popular and is a go-to provider of cloud storage, which it aims to be, then the token will be worth more in the cryptocurrency market.
Siacoin has a circulating supply of 48,868,162,992 Siacoin coins, and the most popular crypto exchange for trading them is Binance. It is not yet revealed the maximum number of SC that will be circulated.
Technical analysis of Siacoin
Currently, Siacoin is worth $0.01887. Technical analysis and price prediction show that the future is bright. The price of Siacoin is trading below the 100-day Moving Average but above the 50-day Moving Average and we are experiencing a sideways trend. The price in the coming days can be expected to be quite bright.
There have been several price action predictions on Siacoin. Many people have based their price prediction on the possible market cap and the present coin price. The market capitalization prediction is a fundamental analysis that gives accurate insight into what you can expect. They also make use of moving averages. We have highlighted the SC price prediction below.
Siacoin prediction by DigitalCoinPrice
DigitalCoinPrice price prediction slated SC price for $0.0324783249within the space of a year, that is, by 2022. In six years, Siacoin will be worth $0.0735481468. This prediction sees Siacoin as a viable choice in the crypto market.
Siacoin prediction by CryptoGround
For CryptoGround, it is a smart move to invest in Siacoin in the long term because it promises a future. The Siacoin price prediction for 2025 is positive. The expected minimum price of 1 Siacoin is projected to be $0.0252 by the end of this year, and by 2026, it will be worth $0.0708. These forecasts by CryptoGround are the latest and are done by experts.
Siacoin prediction by Wallet Investor
Wallet Investor is a reputable predictor in the crypto space. They forecast that by 2022, the average price of Siacoin will be $0.0315.
For 2026, the price prediction by Wallet Investor states a price of $0.0851.
What exchanges support Siacoin?
Siacoin is an asset that has been traded on several exchanges, even the big ones. You can buy Siacoin on Binance, Bittrex, Kraken, Ploniex, OKEx, DigiFinex, and other exchanges.
What are the trading pairs for Siacoin?
Siacoin price has different trading pairs on different exchanges. For instance, on DigiFinex, Siacoin pairs with ETH. On Binance, it can pair with USDT. On Kraken, Siacoin pairs with USD. So, you can exchange it for fiat currency.
Is it safe to invest in Siacoin SC now?
Perhaps you are thinking of investing in the Sia blockchain and wondering if it is a good investment. Well, you are not alone.
However, you have to consider some factors before leaping. It is advisable to consider the advantages as well as the shortcomings of this platform. It would help if you looked into the possible price movement as we have highlighted above.
Since there are others like it available and open to users, you might consider other options better as it might have to overcome a high resistance level to rise. However, you might choose to stick with this one, given the advantages it offers.
Siacoin offers a decentralized storage system that is an advantage compared to centralized storage. Blockchain technology has many uses that have put it on the global map with no sight of descending the height it is occupying on the ladder.
However, its cloud computing and storage capabilities have been underexplored even though they are essential. The advantages it presents are enough reasons to make it a part of everyday usage. Decentralized data storage has its strength in some areas where the centralized data storage system does not measure.
For one thing, the decentralized storage system is more secure than the centralized one. For instance, if Google or Amazon S3, centralized storage systems, are exposed to malicious attacks, the effect will be devastating. The financial and personal data will be compromised, and the consequences might be grave depending on the information they contain.
However, with the decentralized option, security is tighter. The blockchain-based storage encrypts the information, partitioning it, sharing it, and storing the bits in multiple nodes. This way, the only person who has access to the sensitive information is the person who has the encryption key, and it is this person who can view the entire data.
This is one way the blockchain system has improved the security of data and guarantee preserved information. It drastically reduces the occurrences of compromised information and the consequences.
Another reason why decentralized storage is an excellent choice at any time is the efficiency it offers. Transacting data is more efficient as it saves you time and energy. You can have a complete transaction done within a short time, unlike when the whole system was handled in the traditional setting.
Also, the blockchain system is cheaper to operate. With the blockchain storage, you have to pay 2 euros per terabyte monthly. With Apply, you have to pay 5 euros per 2 terabytes monthly. With the blockchain system, you can buy your storage space with the native currency or digital coin.
The decentralization of the system makes it a better option for its transparency and autonomy. It gives authority to the users such that they do not need third-party prying into their businesses. The information stored in the nodes cannot be easily compromised compared to the centralized one.
Despite these pros, there are cons that the decentralized storage system presents, and you have to consider them as well. The blockchain network will need a minimum number of digital coins to access space in the decentralized system.
Also, you might find it difficult to understand the developers’ plans. The network hash rate and issuance are other areas of concern.
After looking at both sides, the pros and cons, you have to decide which way to go. However, it is necessary to state that the advantages of the decentralized storage system outweigh its shortcomings. Or, how else do we explain the surge for it even if we have had the traditional system with us all along?
How to buy Siacoin from an exchange
Buying Siacoin from a cryptocurrency exchange does not involve a long process. With a few steps, you can make your transaction seamlessly. Several exchanges support Siacoin, but this illustration will use Bittrex.
Sign up with Bittrex
Signing up with Bittrex is the first step to trading on the platform. To sign up on this exchange, you will have to provide your details and perform identity verification. This process is simple and the same for other platforms. The differences will not be enough to confuse you.
Find the market and trade
After signing up, you will have to find the market you are interested in and buy. You can buy Siacoin with Bitcoin or USD.
Make your selection
You trade by selecting the amount of Siacoin you want to buy and at what rate you want to buy it. If you are new to crypto trading, it is advisable to start trading with as little as possible. If you are better at trading over some time, you can venture to invest higher than you have been trading.
After this process, you will have successfully funded your Bittrex account. Storing Siacoin in an exchange wallet is not the eat option you can go with. This is because you won’t be able to use Sia with it, and it is not really safe.
Transfer your asset
You will have to transfer your asset from the Bittrex account to your Sia wallet. You do this by creating a Sia address and then sending the digital asset from Bittrex to the address.
Buy Sia with Transak
Transak is another option for purchasing Siacoin. With Transak, you can easily get Siacoin with your credit or debit card. However, this offer comes with some fees. Considering the services you get, paying a small amount is not a big deal.
Another aspect of using Transak is that it has a limit to the amount of Siacoin you can buy at a time. If what you need is within the range of the limit, you will have no issues. If you are new to crypto trading and following investment advice to trade as little as you can, this might not be an issue for you. The amount of Siacoin you will need would most likely fall within the purchase limit.