The selling point of the Sia platform is that network users rent space on a peer-to-peer (P2P) basis, thereby lowering the rates they pay.Users retain the private keys to access and control their data files.Payments on the Sia platform are made with the SC token.
Skynet which is built on top of Sia has announced releasing version 3.0 of the decentralized alternative of Google Docs.The user can log in using Web 3.0 solutions like MetaMask and Definity.There are more than 10,000 websites and web apps available on Skynet.
Sia has a capacity storage of 6.7pb, 608 storage providers and there’s 1912TB of storage used.
The live Siacoin price today is $0.011476 USD with a 24-hour trading volume of $32,615,720 USD.
Siacoin is down 4.67% in the last 24 hours.
The current CoinMarketCap ranking is #122, with a live market cap of $581,299,049 USD.It has a circulating supply of 50,651,812,992 SC coins and the max.supply is not available.
Are you curious about the price prediction on Siacoin? We will discuss all you need about Siacoin’s price, including the exchanges to trade it and pairs.
Siacoin Overview
Siacoin is a decentralized storage network that enables users to store files without relying on a centralized entity.
The concept of Siacoin is similar to Google Drive and Dropbox but instead, the network users rent storage space in a peer-to-peer network.The data is encrypted and distributed on the network.The user has the private keys to access and fully control their data.
The technology makes it possible to encrypt data for safety reasons, split it, and share it in nodes.The information is stored safely and even reassembled.
This technology is similar to what is used by the eminent cryptocurrency.
There are fees involved in this storage system for keeping and sharing things, like hosting fees.These charges can be paid using the native currency of the platform.
These whole transactions can be done using smart contracts.
With these smart storage contracts , the whole process can be done without involving a third party.It will work with the set of rules imputed to it and automatically execute itself.
Now that it is clear that Siacoin is a worthy coin.Let’s go into the price prediction proper.You will learn all you need to from the Siacoin price forecast.
Siacoin Potential Use Cases
Siacoin has excellent potential in the cryptocurrency space.
It is an intelligent alternative to the traditional storage system and covers the shortcomings that have been a drawback of the centralized system.It aims to overtake the centralized system of data storage.
What is on people’s minds is if the middleman can be totally removed and Siacoin becomes the leading cloud storage provider.Well, there is potential.Siacoin is actually cheaper compared to the centralized option.Yet, SC value is in no form diminished.
Also, if the developers can imprint Siacoin on users’ minds and direct traffic their way, it will excel.
If their product is popular and is a go-to cloud storage provider, which it aims to be, then the token will be worth more in the cryptocurrency market.
Siacoin has a circulating supply of 48,868,162,992 Siacoin coins, and the most popular crypto exchange for trading them is Binance .It is not yet revealed the maximum number of SC that will be circulated.
Is it safe to invest in Siacoin SC now?
Perhaps you are thinking of investing in the Sia blockchain and wondering if it is a good investment.Well, you are not alone.
However, you have to consider some factors before leaping.
It is advisable to consider the advantages as well as the shortcomings of this platform.It would help if you looked into the possible price movement as we have highlighted above.
Since there are others like it available and open to users, you might consider other options better as it might have to overcome a high resistance level to rise.However, you might choose to stick with this one, given the advantages it offers.
Siacoin offers a decentralized storage system that is an advantage compared to centralized storage.Blockchain technology has many uses that have put it on the global map with no sight of descending the height it is occupying on the ladder.
However, its cloud computing and storage capabilities have been underexplored even though they are essential.
The advantages it presents are enough reasons to make it a part of everyday usage.Decentralized data storage has its strength in some areas where the centralized data storage system does not measure.
For one thing, the decentralized storage system is more secure than the centralized one.For instance, if Google or Amazon S3, centralized storage systems, are exposed to malicious attacks, the effect will be devastating.The financial and personal data will be compromised, and the consequences might be grave depending on the information they contain.
However, with the decentralized option, security is tighter.
The blockchain-based storage encrypts the information, partitioning it, sharing it, and storing the bits in multiple nodes.This way, the only person who has access to the sensitive information is the person who has the encryption key, and it is this person who can view the entire data.
This is one way the blockchain system has improved the security of data and guarantee preserved information.It drastically reduces the occurrences of compromised information and the consequences.
Another reason why decentralized storage is an excellent choice at any time is the efficiency it offers.Transacting data is more efficient as it saves you time and energy.You can have a complete transaction done within a short time, unlike when the whole system was handled in the traditional setting.
Also, the blockchain system is cheaper to operate.With the blockchain storage, you have to pay 2 euros per terabyte monthly.
With Apply, you have to pay 5 euros per 2 terabytes monthly.With the blockchain system, you can buy your storage space with the native currency or digital coin.
The decentralization of the system makes it a better option for its transparency and autonomy.It gives authority to the users such that they do not need third-party prying into their businesses.The information stored in the nodes cannot be easily compromised compared to the centralized one.
Despite these pros, there are cons that the decentralized storage system presents, and you have to consider them as well.The blockchain network will need a minimum number of digital coins to access space in the decentralized system.
Also, you might find it difficult to understand the developers’ plans.The network hash rate and issuance are other areas of concern.
After looking at both sides, the pros and cons, you have to decide which way to go.
However, it is necessary to state that the advantages of the decentralized storage system outweigh its shortcomings.Or, how else do we explain the surge for it even if we have had the traditional system with us all along?
How to buy Siacoin from an exchange
Buying Siacoin from a cryptocurrency exchange does not involve a long process.With a few steps, you can make your transaction seamlessly.Several exchanges support Siacoin, but this illustration will use Bittrex.
– Sign up with Bittrex
Signing up with Bittrex is the first step to trading on the platform.To sign up on this exchange, you will have to provide your details and perform identity verification.This process is simple and the same for other platforms.
The differences will not be enough to confuse you.
– Find the market and trade
After signing up, you will have to find the market you are interested in and buy.You can buy Siacoin with Bitcoin or USD.
– Make your selection
You trade by selecting the amount of Siacoin you want to buy and at what rate you want to buy it.
If you are new to crypto trading, it is advisable to start trading with as little as possible.If you are better at trading over some time, you can venture to invest higher than you have been trading.
After this process, you will have successfully funded your Bittrex account.Storing Siacoin in an exchange wallet is not the eat option you can go with.This is because you won’t be able to use Sia with it, and it is not really safe.
– Transfer your asset
You will have to transfer your asset from the Bittrex account to your Sia wallet.
You do this by creating a Sia address and then sending the digital asset from Bittrex to the address.
Buy Sia with Transak
Transak is another option for purchasing Siacoin.With Transak, you can easily get Siacoin with your credit or debit card.However, this offer comes with some fees.Considering the services you get, paying a small amount is not a big deal.
Another aspect of using Transak is that it has a limit to the amount of Siacoin you can buy at a time.If what you need is within the range of the limit, you will have no issues.
If you are new to crypto trading and following investment advice to trade as little as you can, this might not be an issue for you.The amount of Siacoin you will need would most likely fall within the purchase limit.
Sia Technical Analysis
Sc current price is up 101,369% above its all-time low price set 6 years ago.It has a daily trading volume of $30,773,633.
The four-hour chart below shows RSI at 39.39% moving up after a reversal from an oversold position.
William alligator is feeding on a downward trend that began on 5th April probably a reversal after a price rise that began in early March.
MACD chart has the signal and MACD trend lines below the zero line indicating a fall in prices.The histogram shows momentum on the downside decreasing.
Sia Coin Price Predictions 2022 – 2030
Cryptonewsz
Sia price reached a high of $0.029 in December 2021, followed by a reversal into 2022, based on historical data Walletivestor projects the price to reach $0.0124 by the close of the year.
In 2023 Siacoin sc will regain momentum and close at $0.016.Siacoin will make marginal gains in 2024 at $0.019.In 2025 with BTC halving and updates on the Siacoin Sc network, the coin will pass $0.022.In 2026 Siacoin sc will trade between $0.024 and $0.03.
Coinquora
Coinquora made a technical analysis to determine the future Sc price.If the current trend continues Siacoin sc will reach $0.052 by December with fast growth between January and June.
In 2024 the value will double to reach $0.14 with a similar gain into 2025 at $0.3.In 2026 crypto mass adoption will send Sc price to $1.
Walletinvestor
Sia coin sc is an A+, profitable investment to make for one year.
For the coming two weeks it will be on an upward trajectory selling at an average price of $0.0136 by the end of the period while reaching a maximum price of $0.0146 and a minimum price of $0.0116.This year alone Siacoin sc will grow by 88.6% and double within the same period in 2023.In consecutive years 2024, 2025 and 2026 return on investment will be 226%, 310% and 377%.
They expect the Sia coin prices to grow and provide a good return.
Cryptopolitan
Note: All amounts are in USD.
Sia Coin Price Prediction 2022
Sia is building on an existing cloud storage platform by bringing in resiliency and privacy measures enabled by blockchain.This year our Sc price prediction shows it will trade at $0.014 and the highest level reaches twice the current price.
Sia Coin Price Prediction 2023
In 2023 Sc coin will begin a bullish trend at $0.018 reaching a maximum price of $0.021.The trend will be facilitated by a growing number of users in the trustless marketplace.
Sia Coin Price Prediction 2024
Sc coin will continue to prove itself a good investment by reaching $0.031 while averaging $0.027 for the year and a minimum price of $0.026.
Sia Coin Price Prediction 2025
By 2025 the amount of data stored by the Sia decentralized cloud storage platform will be tremendous and with its ability to scale it will provide valuable data to many enterprises.The high valuation will grow proportionate to the value of Sia sending it to $0.039, selling between $0.045 and $0.038.
Sia Coin Price Prediction 2026
With a hard fork already in play in the Sia ecosystem, we anticipate more innovations to streamline or possibly do away with POW due to growing environmental concerns.
Our projections place Sia price at $0.057 reaching a high price of $0.067 and a low price of $0.057.
Sia Coin Price Prediction 2027
If the crypto market remains non-volatile, the value of Sia will continue to soar and almost reach its ATH in 2027.
It will trade to a maximum price value of $0.097, average at $0.088 and sell at a minimum price value of $0.085
Sia Coin Price Prediction 2028
Siacoin price will reach new highs from this period while setting record prices.Siacoin price will once again trade above the $0.01 mark and maintain the levels and possibly grow 50% within the same year.
Sia Coin Price Prediction 2029
In the future, Sia with the right team will grow mainstream to compete with big monopolies in the cloud storage space and gain better market sentiment.Sc price will reach $0.17 reaching a high price value of $0.21.
Sia Coin Price Prediction 2030
Sia price will reach record highs at the same time benefiting its entire ecosystem through native token offers.
Sc price will moon and break the $0.3 ceiling and later correct to $0.26.$1 will however remain a long shot.
Sia Coin Price Predictions by Industry Influencers
Storing 1TB of data on Amazon S3 would cost you $23 while in Sia where the same amount of data would only cost you $2 while eliminating any single point of failure.
Late last month, March, Sia launched Embarcadero, a feature that would enable people to swap Sia with other coins on their website all without an escrow.
The feature will be a big plus for the Sia community since the indivisibility and low volume of the token have always been a challenge.
With over six years of operation, Sia is here to stay.
Conclusion
The battle for the choice of the best-decentralized cloud storage is getting stiffer and crypto enthusiasts keep posing the question.Aarweave, Filecoin, Storj and Sia are all offering cloud solutions but with different tokenomics.Inventions and mass adoption of Skynet and Sia will steer Sia past the competition, an advantage that will win Sia a lot of value in the future and into web3.
Crypto analysts agree Sia will grow in the long run as more people adopt decentralized technology.By 2030 we estimate you will buy Siacoin at $0.27.Sia has a bright future but will remain volatile short term.
FAQS about Sia Coin
Who is a renter on Sia?
Renters are the users who upload data into the Sia web cloud.
What is a Siacoin?
Siacoin is the native token of the Sia network.It’s the currency used for value transactions.
What is the total supply of Siacoin?
Siacoin has an unlimited supply, with new coins being mined for block rewards.
When will Siacoin reach $1?
Our projections suggest Siacoin will not reach $1 in the near future i.e.10 years.
Where can I store Sia coins?
Sia coins are stored in Sia UI and siac wallets.
Should I buy Siacoin?
Conclusion
Siacoin is a good investment, but you should conduct your own thorough research before buying.
Sia price predictions have been impressive so far.Price forecast by different experts shows that Siacoin has come to stay.
The Sia network holds great potential, and judging from the look of things, Siacoin is a good investment and a profitable coin if you do your homework well..