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Siacoin (SC) is known as an open-source, low-cost cloud storage solution. Unlike ordinary cloud storage services, Siacoin offers encryption and distributed storage services, enabling users to contribute to a peer-to-peer system. Private keys controlled by users do not grant any access rights to third parties, while also ensuring 100% security of data and stored files.
In other words, SC Coin’s use of private key technology, common in cryptocurrencies, actually extends to cloud-based storage, eliminating privacy breaches in files and data. As a blockchain-based cloud storage system, Siacoin differentiates itself from other blockchain-based storage services with its cloud feature and offers the advantage of low costs.
What is Siacoin (SC)?
Siacoin can be described as the cryptocurrency of this decentralized and distributed cloud-based storage system. Investors use SC Coin for transactions like buying extra storage or for other transactions required on the network. Additionally, Siacoin is used for yield farming in decentralized finance applications, generating income.
Where to Buy Siacoin?
How and where can you buy SC Coin? It is possible to purchase SC Coin through one of the world’s largest cryptocurrency exchanges, Binance. The liquidity and security offered by Binance also influence investors’ choice to use it.
- To buy SC Coin, you first need to deposit USD balance to the exchange or buy a cryptocurrency that can be used instead. For this, first go to the Binance homepage, click on the “Buy Crypto” option in the top left, and then the “Credit/Bank Card” tab.
- In the opened tab, select how much USD you want to trade with, and mark Tether, i.e., USDT, in the Coin section.
- After buying USDT, again preview the “Buy-Sell” option in the top left, click on the “Classic” tab.
- In the section that opens, select the USDT tab in the top right, press the search button, type SC, and select the SC/USDT pair that opens below.
- Then go to the middle “BUY SC” tab, enter the amount you want to buy.
- Enter the amount you want and confirm the transaction to complete the purchase of SC.
