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Beam BEAM Price

$0.010

-2.62%

$0.010

24h Range

$0.011

Market Cap

$517,263,588.5

Fully Diluted Valuation

$652,869,374.4

24 Hour Trading Vol

$15,655,861.4

Circulating Supply

49,466,004,168.0

Total Supply

62,434,008,330.0

Max Supply

Info

BEAM Price Statistics

Beam Price

$0.010

24h Range

$0.010 - $0.011

Percent Change 1h

-0.56%

Percent Change 24h

-2.62%

Percent Change 7d

5.72%

All-time high

$0.044

All-time low

$0.004338

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About Beam

What is Beam (BEAM)?

Beam (BEAM) is a privacy-focused cryptocurrency that utilizes the Mimblewimble protocol, which is designed to enhance user anonymity and transaction confidentiality. Launched in January 2019, Beam aims to provide a secure and scalable platform for private transactions. Unlike traditional cryptocurrencies, Beam ensures that transaction amounts and sender/receiver information remain hidden from public view, making it a suitable choice for users prioritizing privacy. The Beam network employs a unique method of transaction validation that does not require revealing transaction details, thereby ensuring confidentiality while maintaining the blockchain's integrity.

Who are the Founders of Beam?

Beam was co-founded by Alexander Zaidelson, who has a background in software engineering and product development, and a team of experts in cryptography, software development, and blockchain technology. The Beam team has focused on creating a user-friendly platform that integrates advanced privacy features while ensuring a seamless experience for users. The project has garnered a strong community and several contributors who continually improve the platform.

How does Beam Work?

Beam operates on the Mimblewimble protocol, which allows for confidential transactions through a combination of techniques, including:

  • Confidential Transactions (CT): Beam employs CT to obscure transaction amounts. This ensures that only the parties involved in a transaction can see the amount being transferred.
  • Stealth Addresses: Beam generates one-time addresses for each transaction, preventing address reuse and making it difficult to link transactions to a specific user.
  • Cut-Through: This feature allows Beam to consolidate multiple transactions into a single entry in the blockchain, reducing the overall transaction size and enhancing scalability.
  • Transaction Validation: Beam utilizes a unique validation process that does not require revealing transaction data, maintaining user privacy while ensuring network integrity.

Beam also uses a proof-of-work consensus mechanism to secure its network, allowing miners to validate transactions and create new blocks. The supply of BEAM tokens is capped at 262,800,000, with a decreasing block reward over time, promoting scarcity and value retention.

Top Use Cases of Beam

Beam has several practical applications that leverage its privacy features:

  • Private Transactions: Individuals can send and receive funds without revealing transaction details, which is beneficial for users who want to maintain their financial privacy.
  • Escrow Services: Beam's confidential transactions can be used in escrow arrangements, where the details of the transaction remain hidden until certain conditions are met.
  • Decentralized Finance (DeFi): Beam’s privacy features can be integrated into DeFi platforms, allowing users to participate in lending, borrowing, and trading without exposing their financial history.
  • Remittances: Users can send money across borders with privacy, avoiding scrutiny from financial institutions and reducing the risk of theft or fraud.
  • Microtransactions: Beam can facilitate small transactions that require privacy, such as tipping content creators or paying for digital services without revealing identity.

How to Keep your Beam Safe?

To ensure the safety of your Beam (BEAM) holdings, consider the following best practices:

  • Use a Secure Wallet: Store your BEAM tokens in a reputable wallet that supports Beam's privacy features. Hardware wallets are a secure option for offline storage.
  • Enable Two-Factor Authentication (2FA): If your wallet or exchange supports it, enable 2FA to add an extra layer of security to your account.
  • Keep Software Updated: Always use the latest version of your wallet software to benefit from security updates and improvements.
  • Be Wary of Phishing Scams: Avoid clicking on suspicious links or providing sensitive information on untrusted websites. Always verify the URL before entering credentials.
  • Backup Your Wallet: Regularly back up your wallet seed phrase and private keys to ensure access to your funds in case of device failure. Store backups in a safe location.
  • Limit Sharing Information: Be cautious about sharing information regarding your Beam holdings and transactions to minimize exposure to potential threats.

How to Invest in Beam (BEAM)?

Investing in Beam (BEAM) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy Beam: Once your account is funded, you can purchase Beam directly from the exchange. Choose the desired amount and complete the transaction.

Investing in Beam (BEAM) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Beam using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for Beam (BEAM) in the Long Term?

Beam (BEAM) is currently trading at $0.010 and exhibits good potential for future growth. Check the latest Beam (BEAM) price prediction.

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