Bitcoin is a decentralized ledger and a node network that can systematically track and store transactions without relying on trusted third parties. Bitcoin was released in 2009 and quickly became popular as a timestamp server. It can record information (e.g. transactions) immutably without borders, barriers or explicit permission.
BSV (Bitcoin Satoshi Vision) is a stable Bitcoin that follows the original design and protocol of Satoshi Nakamoto white paper, realizes the original vision of large-scale on-chain scalability, and aims to become a global peer-to-peer e-cash and value data transmission network.
BSV is maintained under the management of the Bitcoin Association, a non-profit association in Zug, Switzerland. The Bitcoin Association formulates technical standards and educates enterprises, users and developers on how to create a global blockchain ecosystem.
How does Bitcoin SV (BSV) Work?
In other aspects, BSV is very similar to Bitcoin.
BSV is also used as a digital payment system for daily payments without a central intermediary. All transactions on the Bitcoin SV network are recorded in decentralized ledgers distributed around the world. Compared with BCH, it uses proof of work (PoW) consensus protocol to verify transactions and protect the platform from malicious agents. When miners verify these blocks, the network rewards them with new BSV tokens.
Each block in the Bitcoin SV blockchain contains the encrypted hash of the previous block, which records the transaction time and its data. This record is distributed to all nodes for everyone to view. On the supply side, Bitcoin SV is limited to 210,000 - just like Bitcoin. So far, the miners have mined about 190,000 BSVs.
What is Bitcoin SV (BSV)?
Bitcoin SV is a cryptocurrency created by the Bitcoin hard fork. It originates from the disagreement between outstanding members of the community on how to deal with scalability issues. The Bitcoin SV team led by Craig Wright aims to improve the scalability of Bitcoin and Bitcoin cash so that Bitcoin SV can be used as a global currency for daily payment.
Bitcoin SV represents the vision of Bitcoin Satoshi Nakamoto. Its vision and its supporters believe that the project is more in line with the idea of Bitcoin creator Satoshi Nakamoto. Although the authenticity of the exposition has been widely questioned in the community, Craig Wright, the founder of BSV, has always claimed that he is the real "Satoshi Nakamoto".
Compared with the transaction currency, the current cost of the counter currency is also significantly reduced, and the cost of the online transaction currency is also significantly reduced.
Bitcoin SV (BSV) Crypto Wallet
In addition to placing BSV in the Gate.io exchange to facilitate trading, BSV can also be placed in a crypto wallet.
Bitcoin SV (BSV) is one of several cryptocurrencies whose name contains the word "Bitcoin". There is a reason for this. Bitcoin SV (abbreviation of Bitcoin Satoshi's Vision) was founded on November 15, 2018 and is a branch of Bitcoin cash (BCH).
Bitcoin SV follows the initial principles of Bitcoin as envisaged by its creator (or creators) Satoshi Nakamoto in his original white paper. Therefore, Bitcoin SV aims to bring more decentralization and scalability to the network. The team behind this cryptocurrency has introduced several technical improvements that allow the network to process tens of thousands of transactions per second. Meanwhile, users only need to pay extremely low transaction costs.
This cryptocurrency has been successful in the crypto field. Its creators claim that BSV is the original Bitcoin. At least, they say, it is closest to the original intention of Bitcoin. As a result, many crypto traders and investors have added BSV to their portfolios. If you intend to follow suit, you need to obtain an encrypted wallet to securely store your BSV coins.
However, there are only a few crypto wallets that support Bitcoin SV. Not all of these meet the minimum security level and overall quality of a secure wallet. Therefore, we compiled a list of the best BSV wallets in the market. You can safely select a Bitcoin SV wallet from the following list for trading or long-term investment.
Atomic Wallet is an open-source, decentralized and anonymous crypto wallet. Launched in 2018, it supports more than 300 digital currencies and tokens, including BSV. The desktop Atomic wallet has a built-in unmanaged exchange, which some cryptocurrency traders find convenient. The wallet is suitable for different operating systems, including Windows, Mac and Linux.
Launched in 2014, Coinomi Wallet supports more than 380 cryptocurrencies, including BSV. Coinomi provides a good level of security because it can hide your IP address when you trade with cryptocurrency. More importantly, it does not store your private key on the Coinomi server. It also has a built-in encrypted exchange. This wallet is available in mobile (iOS and Android) and desktop (Windows, Mac and Linux) versions. Coinomi is one of the most user-friendly wallets on the market. Therefore, it is very suitable for beginners.
Guarda Wallet is a multi-asset wallet that was launched in 2017. It supports various cryptocurrencies, including BSV. Guarda wallet has a mobile version, desktop version and web version. In addition to storing cryptocurrencies, you can also buy, exchange and stake cryptocurrencies on this wallet. Because of its user friendliness, it is one of the best choices for novice traders and investors.
Electrum SV Wallet
Electrum SV Wallet is a desktop wallet that was launched in 2018 and developed by Thomas Voegtlin, a member of the BSV community. Therefore, it is considered as a BSV desktop client. The BSV wallet can be used for various operating systems, including Windows, Mac and Linux.
Ledger Nano S Wallet
Ledger Nano S Wallet is one of the most secure wallets on the market. It is a hardware wallet that is very popular among traders and investors at all levels of experience. The Bitcoin SV team announced that Ledger Nano S will soon support BSV. Let’s wait and see!
Centbee Wallet is a mobile wallet that was launched in 2017 and is applicable to iOS and Android. It is one of the safest BSV wallets on the market. It is not open source, but the developers guarantee that the wallet will be constantly improved to ensure its security. So far, no hacking incident has been reported on this wallet.
Exodus Wallet is a multi-asset wallet that was launched in 2016. It supports 95+ digital assets, including BSV. It also has a built-in switching function. Exodus is a desktop wallet for Windows, Mac and Linux. The wallet has a smartphone version.
The above recommended Bitcoin SV wallets can meet most of your needs. If you are an inexperienced investor, you may need a user-friendly wallet like Coinomi or Guarda. However, any wallet in the above list will meet the security requirements for protecting your Bitcoin SV coins.
There are two schools of thought in determining the price of Bitcoin SV.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Bitcoin SV, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Bitcoin SV from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Bitcoin SV on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Bitcoin SV as well.
HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Bitcoin SV and the cryptocurrency market as a whole.
2. What is the highest price of Bitcoin SV in history?
Bitcoin SV achieved the all-time high of €465.07 in 2021-04-16, and is currently trading at €41.43.
3. What is the lowest price of Bitcoin SV in history?
In 2018-11-23, Bitcoin SV reached the all-time low of €33.28.
4. Should I buy Bitcoin SV now?
It is important to remember that Bitcoin SV, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.