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What is SC?

Siacoin is a decentralized cloud storage solution based on blockchain technology founded by developers David Vorick and Luke Champine in 2013. In a world where leading cloud storage solutions are highly centralized, Siacoin is entirely decentralized and encrypts all user data for greater security and reliability. The Sia protocol utilizes large chunks of unused storage and combines it with blockchain technology for its users to store their data. No third party or external company can access user data on the Sia network.

To set itself apart from popular storage solutions, Sia uses propriety software that splits files into 30 separate segments and then distributes them across hosts around the world. Through this process, Sia eliminates the possibility of a single-point failure. Even if hosts compromise two-thirds of the segments on the network, one-third of the segments are enough to restore the original file, reinforcing network redundancy and uptime.

Siacoin (SC) is the currency token for the open-source Sia network and can be mined, traded and used in the Sia marketplace. On top of being decentralized and secure, Siacoin is a more affordable storage solution when compared to other cloud storage options.

Sia’s redundancy methods, encryption processes and use of cryptographic technologies leverage it as a coin many investors are keeping an eye on.

Why buy SC with OKX?

What can I do after I buy SC?

Compared to market competition, namely Filecoin, Storj and MaidSafe, Siacoin has held its own over the past couple of years. Often called the "Airbnb for hard drives," Siacoin has tangible real-world applications. Thus, if you want exposure to the backbone storage layer of the internet, you can explore Siacoin.

Hold Siacoin as an Investment

Siacoin has positioned itself as one of the leading decentralized storage solutions. If you believe in Siacoin's vision, you can hold your Siacoin safely in your OKX wallet for as long as you need to and benefit from any price action.

Trade Siacoin on OKX

On OKX, you can instantly trade SC/USDT or SC/BTC pairs on our highly liquid markets to either hedge against volatility or increase your investment.

Stake to Earn Siacoin

You can earn Siacoin by becoming a host on the network with your unused storage space. Anyone with extra space on their computer can earn income on it through the Sia network. Stake your Siacoin holdings as collateral to become a host on the Siacoin network.

Earn Passive Income from Siacoin

Don't have the extra space needed to become a host on the Sia network? You can explore passive income streams on OKX using your Siacoin holdings. On OKX Earn, you can stake your Siacoin in flexible staking plans to earn high APYs.

How to buy Cryptocurrency and store it safely?

Guide on how to buy Siacoin (SC)

Buy Siacoin with Debit/Credit Card

OKX facilitates seamless crypto purchases via debit/credit card payments. Buy Siacoin tokens with any of our 90+ supported fiat currencies using Visa, Mastercard or other debit/credit cards. If this payment option is not enabled in your region or your preferred fiat is not available, you may purchase or deposit USDT swap it for Siacoin.

Buy USDT from Peer-to-Peer (P2P) Market

Navigate to our escrow-powered P2P trading window and purchase USDT directly from trusted sellers to trade it for Siacoin. OKX supports 40 payment methods, including bank transfer, PayPal, Cash App, Revolut and more.

Buy Siacoin with USDT or BTC

Easily buy Siacoin in our Spot Trading market. We've listed the Siacoin token against USDT and BTC, the most commonly traded stablecoin and cryptocurrency. If you already own USDT or BTC, you may transfer them to your OKX account to buy Siacoin.

Convert Crypto to Siacoin with OKX Convert

If your preferred crypto pair is not supported, you may use OKX Convert to swap your crypto to Siacoin. OKX Convert offers free, instant, slippage-free swaps for over 100 cryptocurrencies.

FAQs

Who uses Siacoin?
Siacoin is used as currency on the decentralized Sia network to pay for storage space. It is increasingly viewed as a potentially valuable cryptocurrency with real-world value.
What is the difference between Sia and Skynet?
Sia and Skynet are part of one ecosystem and have the same core team. Sia is a layer 1 cloud storage, while Skynet is a censorship-resistant publishing platform that is built on Sia as a layer 2 protocol.
Is data secure on Sia?
Sia is one of the most secure options for storing your data online. It is a fully decentralized cloud storage that runs on the blockchain through smart contracts with in-built encryption and erasure coding. Furthermore, storage hosts are incentivized to provide enterprise-level service for your data.
Can I buy Siacoin with a debit/credit card?
Yes, you buy Siacoin with a debit/credit card using more than 90 different fiat currencies. If your local fiat currency is not offered, you may choose to swap your crypto for Siacoin using OKX Convert or our trading terminal.
Should I invest in Siacoin?
All cryptocurrencies, including Siacoin, are considered risky and volatile assets. It is highly recommended to do your own research on the project offerings and potential pitfalls before investing in it.
What are the most popular cryptocurrencies to invest in today?
Top crypto, based on market capitalization or total circulation value, include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and XRP (XRP).
However, like all other crypto, the above are also featured with volatility and risks. You should do your own research (DYOR) and evaluate your risk appetite before investing in any crypto.
What are the top cryptocurrencies I can buy on OKX now?
OKX provides access to hundreds of crypto and trading pairings. Some of the most popular crypto on OKX include BTC, ETH, USDT, DOGE, SOL and OKB. You can visit our brand-new OKX Crypto Calculator. Select a crypto and a fiat currency to check the estimated real-time price.