$97,172.00
$3,109.04
$1,528.07
$2,389.10
$609.61
$516.49
$294.43
$161.98
$88.85
$157.97
$86.66
$74.47
$76.21
Sumcoin
(SUM)
Not AvailableMarket Data For Sumcoin
| Current Price | $0.0000 |
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| Market Cap Rank | - |
| Total Volume | - |
| High 24H | - |
| Low 24H | - |
| Price Change 24H | - |
| Price Change Percentage 24H | - |
| Market Cap Change 24H | - |
| Market Cap Change Percentage 24H | - |
| Circulating Supply | - |
| Total Supply | - |
| All Time High | - |
| All Time Low | - |
Coin Data For Sumcoin
About Sumcoin
Sumcoin Review: Mining Guide, Price & Analysis of the Sumcoin Cryptocurrency
What is Sumcoin? How can I mine Sumcoin? These are the main questions that cross your mind when you hear of coins especially digital coins. There are a variety of coins that can be mined all over the world. All of which offer different solutions to the problems surrounding us. These coins have emerged after the risk that comes with the volatility of assets like fiat currency. The best thing about mining Sumcoin is that it has a large base due to the indexing factor. It also has the ability to reduce its supply thus increasing value over time. Every investor's dream is to get value for their investment. In order to get value investors to need to get clever with their investment decisions. Mining coins in this century is yielding more than gold investments as they are not affected by the market forces of demand and supply. Sumcoin is therefore a viable investment choice.
Sumcoin is a crypto asset that was initialized in April 2018 and its mainnet launched in April 2019. The creator of Sumcoin launched it to become a stable medium of storage for the users. Sumcoin being an index coin is composed of several top-level cryptocurrencies (100) each of them having its own share. Index coins are placed at an advantage since they are able to get the best performing cryptocurrencies on their radar therefore granting them a long-lasting space in the market. This combination helps yield higher profit and creates a monopoly in the network. Sumcoin is identified with the symbol SUM.
Mining Guide
There are very many upcoming coins in the world some of which are scams. It is necessary for users to update themselves with the background of different coins they intend to invest in. the methods of mining should also be audited as some could be fraudulent. Sumcoin is defined as a digital ledger that generates new coins by use of proof of work processes. The algorithm is used in combination with a hash rate that codes shared transactions on the blockchain. The hash rate used is the script. Coding the shared data keeps transactions secure and prevents access by hackers. Mining SUM is very easy. The user only requires knowing the platforms where the exchanges of the cryptos can be done. In this case, the exchanges for trading Sumcoin are Stex and Satoexchange only.
Digital coins can either be directly or indirectly mined. Direct mining involves buying or selling the coin using fiat currency. Indirect mining involves buying or selling crypto using fiat currencies and later exchanging the obtained crypto for the coin the investor wants to mine in this case Sumcoin. The most prominent trading platform for the exchange of fiat is poloniex. In order to mine SUM, the user should exchange fiat for BTC, LTC, among others, etc as they can be bought using fiat currency. On obtaining either of the aforementioned cryptos, the user should then register or log in to Stex or Satoexchange platforms in order to trade the crypto for SUM.
For example, if I wanted to mine SUM which can only be traded indirectly, I would buy say 1 BTC using the US dollar. Since 1 BTC= $39,516.60, I would trade this sum of money for BTC on the coinbase platform (widely used) . On acquiring the BTC, I would then exchange the BTC in either Stex or Satoexchange platforms for SUM. This way I will have mined Sumcoin. The sum can be traded for four fiat currencies that are USD, EUR, BTC, and BRL. It only takes three minutes to mine the SUM.
Price and Amp
The prices of digital coins are determined by the number of Sumcoins inexistence. This is the set market capitalization of Sumcoin which is limited to 100 million. If the supply of Sumcoins exceeds 100 M, no more of the coins can be mined as they have reached the maximum number. As of January 2021, Sumcoin was priced at $0.04012927. There were periods of highs of up to $195.35 and lows of $0.00047023. Change in the price of SUM was at 191.769%. The actual number of Sumcoins is not yet known but the cumulative spread of SUM is $210 billion. Globally, the market capitalization of Sumcoin is $876 million.
According to today’s charts, the value of Sumcoin is $477.24 with an expected return of positive 1.5% and a cost of $484.55. The performance of SUM in the past year has shown that it will reach an all-time high (ATH) in the near future. The safety position of Sum in the network is at 2815 out of 3727 while that of profit is 3312/3727.
Analysis of Sumcoin
Sumcoin is a worthy investment as it’s secure and easy to mine. The method of mining used is through the proof of work which uses the script's coding features. The algorithm is a great method though risky. The fact that a decision made by 51% of miners is by default the truth can be contradictory if that isn’t the actual truth. This might lead to the addition of a block that wasn’t meant to be added.
The mining speed of Sumcoin is three minutes. This is a very low speed as other coins are mined in seconds. This big difference in time makes it harder for Sumcoin to earn a profit. This is because blocks will be created after every three minutes while other cryptos will have their blocks created within seconds. The more blocks a miner has created the higher the earnings. This is exactly why users invest in ASIC miners.
Cryptocurrencies increase in value with every increase in growth of the crypto market and vice versa. However, since there is a limit to the coins available, there are no huge changes in price hence a stable investment. Sumcoin can also be bought using the ATM software thus accessible to all persons and thereby easy to use. The existence of Sumcoin makes it easier since around 100 coins can be accessed through one specific coin. The top 100 cryptos listed are selected by the market forces.
In case of any inquiries about Sumcoin and its algorithms, the support team is always available to help. You can chat with them on telegram @sumcoinindex. They are also on Twitter @sumcoinofficial, and their website at sumcoin.org,
Our Take on Sumcoin
In the long run, more users will venture into trading Sumcoin due to its unique features of being a way to store money. This way, users can earn more day by day. The price of the SUM is likely to scale up to $27.9188 next year and $22.8367 this year. Investing in Sumcoin might not be a great short-term investment as it's picking up slow but will definitely be a worthwhile investment in the long run. However, the security level of Sumcoin needs to be upgraded. The algorithm should be encrypted further. This is because there was a bug in the system and 700,000 worth of SUM were stolen. Investors should therefore proceed with caution when investing in Sumcoin.
Verdict
It is upon you to make an informed decision on what you’d want to invest in. Investing in coins is a great idea. It yields great profits but it needs knowledge of exactly what is required to win big. Happy mining!
