Ultimate Guide to Know the Primecoin Price
Primecoin (XPM) is a cryptocurrency that uses a unique form of proof-of-work. If Bitcoin uses SHA525, Primecoin uses prime numbers. But like Bitcoin and any other crypto coins, XPM coins are limited.
When launched in 2013, the XPM price was US$0.80. The price tried to increase a few times but failed. In 2014, Primecoin price started with US$2.91 and was able to reach US$3. Unfortunately, the value dropped again and stayed low for the rest of the year.
In 2015 and 2016, the price of Primecoin played just between US$0.09 to US$0.07. The good news is the crypto coin has been improving since 2017. This shows that even if the value of this altcoin struggled, there are still users who deal in this currency because of its potential. Read more to find out about the price of this altcoin.
Where to Check the Price of Primecoin
With the growing number of Primecoin users, there has been an increase in the number of Bitcoin exchanges that support Primecoin. You can go to the following exchanges to invest in Primecoin or to simply check its price:
- Bit z – This exchange is known for its instant transactions, bank-level security, and global synchronization information.
- Poloniex – The exchange stores the customer deposits offline to avoid virtual theft. It also has auditing programs that monitor all the activities of the exchange 24/7.
- Bleutrade – The exchange offers trading with multiple cryptocurrencies, but it does not support fiat currencies.
2 Types of Price Charts for Primecoin
Once you have chosen your exchange, you will see a chart that presents the price changes of each cryptocurrency. The chart might look confusing for beginners, but it can benefit you if you want to check the movement of Primecoin.
- Simple price chart
This is the most basic type of chart that shows the prices in a line. You will see the closing prices of any given time. Users who plan to get the overview of the prices prefer this type of chart.
- Candlestick chart
Instead of just presenting the closing price, this chart shows the opening price along with the lowest and highest prices. There are two colors for traders to easily understand the chart: the bullish for the rising prices and bearish for the falling prices.
How to Determine the Right Time to Buy Primecoin
Investing in Primecoin can be tricky because it is volatile. Traders and investors like you should be smart enough to know when the perfect time is to buy and sell XPM.
There is an old saying about investment, “buy low and sell high”. If you buy Primecoin now, you can enjoy its perks when the price gets higher. And when the altcoin finally becomes popular, more users will try to buy it despite its high price. This could give you more income than you can expect.
If there are more users who are willing to mine for Primecoin and if there are more crypto exchanges that will support this coin, there is a huge chance for the price to rise.That is why if you are planning to invest in Primecoin in the future, why not do it today?