Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
What are the key risks?
1. You could lose all the money you invest- The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets. This is an altcoin and these tend to be even more volatile than Bitcoin.
- The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
- The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
- The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
- There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
- Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
- Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
- You should do your own research before investing. If something sounds too good to be true, it probably is.
- Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Where to buy Bytom in the UK
Unfortunately, at this time no major exchanges in the UK offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
Unfortunately, at this time no major exchanges in the UK offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
Best Bytom wallets to store your BTM
You can keep your BTM on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your BTM below.
Is Bytom a good investment?
Cryptocurrencies are not only highly volatile, they’re also quite complicated. There are myriad factors that can influence the price movements of different digital coins and tokens, so it’s essential that you do your own research before deciding whether or not you should buy.
If you’re thinking of purchasing any BTM, remember to consider the following factors:
- Use-case: As the native asset of the Bytom blockchain, Bytom Coins represent both right of ownership of the Bytom platform and the right to use it. BTM can be used to pay transaction fees for asset trading, pay dividends of income assets and as deposits for asset issuance. The maximum supply is capped at 2.1 billion tokens.
- Partnerships: As the space for independent blockchains becomes more competitive, the necessity for major partnerships is extremely important. Adoption, use-case and development of blockchains can all be highly influenced by inking a major deal. For example, Bytom’s 2021 partnership with Moonstake was a major factor in Bytom moving to a Proof-of-Stake consensus mechanism.
- Development team: Bytom is led by Chang Jia, the founder of Chinese crypto news site 8btc, and former OKCoin president Duan Xinxing.
- Bytom 2.0: The Bytom team upgraded from a proof-of-work to proof-of-stake model in order to enhance economic security and become more entrenched in the DeFi ecosystem. They outlined the transition by updating their whitepaper, which can be accessed on their website.
Today's Bytom price versus ATH
Compare today's price of Bytom ($0.03050655 USD) against its all-time-high price of $1.16 USD on 24 April 2018. The closer the bar is to 100%, the closer BTM is to reaching its ATH again.
Bytom's price: $0.03050655
ATH date: April 24, 2018
ATH date: April 24, 2018
2.63%
Bytom ATH: $1.16
How to trade, convert or sell Bytom
You can convert or sell your BTM with the same exchange you bought it through:- Sign in to the exchange you have BTM on.
- If you store your Bytom in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of BTM you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Bytom.
- Complete your transaction and move your BTM to a wallet for storage.
* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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