April 23, 2020

How to buy Beam (BEAM)

BEAM

Anonymous digital currencies have been on the market for several years now, but they have a significant drawback, namely, the heavyweight of the blockchain. They also do not respect the principles of confidentiality, as the blockchains contain information about user transactions.

Beam (BEAM) is a new financial instrument in the market, founded in 2019. This digital currency shows the rules of anonymity differently.

It is an innovative project the main goal of which is to create a financially independent platform through a confidential MimbleWimble protocol-based data exchange service.

The creators of the platform expect Beam to become an effective tool for everyday use in the future. Specialists have already highlighted several advantages:

  • An anonymous platform, which is also scalable and energy-efficient.
  • Multi-tasking system and ability to function in different areas.
  • User-friendly and instant money transfer system.
  • Efficient decentralization, providing a large set of devices for mining.
  • Functions in the Opt-in Auditability system, which involves auditing, and Atomic swap (which involves atomic swaps).
  • Online and offline transaction execution.

Beam is a native blockchain token, which is a means of accumulating and issuing data from users in the global network.

The technology was named after a famous series of books about Harry Potter. The meaning is also taken from there: The MimbleWimble spell deprives a man of his intelligible speech. Platform blockchains are also deprived of the ability to publish data on any customer transactions.

Beam (BEAM) is a new financial instrument

MimbleWimble started to be developed in spring 2018, the Israeli company Beam Development Limited was going to implement the program in a short time. But in the end, the project was launched only on January 3, 2019. This is the first working version of MimbleWimble, which was implemented. Then Grin, the digital currency, was launched. It started to be developed a year earlier, but the launch was two weeks later than the launch of Beam.

Beam platform was founded as a classic non-ICO startup, which excluded the initial publication of coins. Initially, the platform received cash resources from investors who joined the system in a closed round.

Compared to the competitive Grin platform, the Beam blockchain never managed to reach the leading positions among the trading platforms.

How can you buy Beam (BEAM)? Analysts have identified two main platforms on which this cryptocurrency can be purchased: Huobi Korea and Gate.i.o. There are also some other, less known, and large-scale exchanges and exchange systems.

There are various ways to store tokens. Customers working with Windows, Mac, and Linux systems can use the services available on the official website:

  • Desktop wallet;
  • CLI Wallet – a wallet that has no interface. You should work with it using the command line.

Also, the client can use a mobile wallet to manage Beam coins via Android and iOS mobile devices.

How to sell Beam (BEAM)

The coin operates using the EquiHash algorithm (150.5) and works through GPU graphics cards. We download the miner and then get a wallet. To use it, you need to register on one of the trading exchanges, which has Beam in the list of its assets, as well as get a personal wallet for storing funds on this exchange. Besides, you can download and synchronize your wallet.

Then the client needs to choose a pool. After choosing, the Bat file is adjusted specifically to its parameters. Immediately after starting the Bat file, it is saved and launched. As a result, it can be considered that the mining process has been launched.

How can you sell Beam (BEAM)? The most common altcoin to sell Beam is Tether. Besides Tether, Beam is sold with Bitcoin, Etherуum, Uquid Coin. As of today, it is impossible to buy Beam for fiat money on any cryptocurrency exchange.

The amount of total capital reached $56.5 million. Beam ranks 83rd on the list of the largest cryptocurrencies. Trade volumes daily exceed $95 million.

The cryptocurrency can make up to about 17 transactions per second. When the Beam platform was first launched, as of January 17, 2019, the price per coin on the cryptocurrency exchange was about $0.6. A week later, the price doubled. At the end of the month, the rate reached $2.8, which was the maximum value.

Then prices were falling smoothly due to the growth in the number of miners, and at the end of April 2019, the price returned to the starting amount of $0.6.

The lowest price was $0.4; it was recorded in early June. To date, the price is $0.55, with no upward trend observed. The total capital is now $12.2 million.