Oct 20, 2022 at 07:08BTTC is the successor of Tron’s famous BitTorrent Project. This is a crash course on BTTC and where to buy it in the USA and the rest of the world.
The concept of torrenting is known by anyone with a laptop and a VPN. BitTorrent is the latest blockchain project that managed to spot a diamond in the dirt. While most institutions tried to shun the idea of torrent downloading, the Tron foundation and the rest of the Web 3.0 community found a way to bring it out of the shadows. BitTorrent is set to revolutionize the music and movie industry by decentralizing a system that used to be condemned by mainstream media.
What is BTTC?
BTTC is a decentralized protocol for peer-to-peer file sharing. BitTorrent was created in the early 2000s to share music and video files via a peer network. Tron later acquired this company in 2019 to adopt the technology into the Web3 space and decentralize the ability to share music and media files across the internet.
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The BTT token is a TRC-utility token operating on the Tron blockchain network. It uses blockchain technology for decentralized power applications (dApps) and protocols. BTT tokens were created to expand Tron’s network and incentivize participation on the network. Since then, the BitTorrent Chain token has been released to improve the issues found in the original BTT project.
The main problems solved by this new token were:
- Decreased torrent availability over time.
- Slower downloading speed over time.
BTT was redenominated in January 2022 from a TRC-10 to a TRC-20 token and renamed “old BTT.” It will, however, remain in use while crypto exchanges work on replacing BTT balances with its updated token at a rate of 1 BTTC = 1 BTT.
Where can you buy BTTC?
1. Kraken
Kraken is one of the most trusted cryptocurrency exchanges in the blockchain industry. Over 9 million users have adopted the exchange as their primary crypto trading platform. The platform saw $207 million in trading volume per quarter.
Kraken offers hundreds of cryptocurrencies and digital assets, including BTT tokens’ old and new iterations. The platform also provides more advanced features for sophisticated crypto investors. It operates in over 190 countries, including Europe and the USA, and offers annual rewards for investors that stake in the platform.
2. KuCoin
KuCoin is stable in the investing world; it has been since 2017 when it was launched. The platform allows users to invest and trade various cryptocurrencies at low transaction fees. It even offers alternative services on the platform, i.e., P2P exchanges and purchase opportunities with debit and credit cards. KuCoin allows trading BitTorrent cryptocurrency tokens alongside 300 other popular tokens. US citizens permit these limited transactions due to a lack of KYC process licensing in the United States.
3. Coin DCX
Coin DCX is India’s most popular crypto investment platform. It was launched in 2018, and it has offered the Indian crypto community educational opportunities and crypto investing and trading options. Since its release on the platform, BTTC has lost 67,13% from its all-time high value. The cross-chain communication technology incorporated into the design of BTTC allows it to transfer between TRON and the Ethereum network.
4. HotBit
The HotBit exchange was established in 2018 as a PC and mobile cryptocurrency application. It boasts partnerships with popular blockchain technology partners like Slow Mist, MyToken, and Spark Pool to offer a robust and secure trading platform for crypto investors. The platform has gained over 7 million users since its launch and is active in over 170 countries worldwide. This platform does not permit US citizens to trade on the platform due to stringent tax regulations. HotBit renamed BTT to BTTC on the 27th of January and replaced each BTT with BTTC tokens at a rate of 1:1.
5. Binance
Binance is one of the most formidable cryptocurrency exchanges in the world. The benefits of purchasing BitTorrent (BTTC) is that it comes with higher liquidity and lower transaction fees. The BTTC token reached trading high on the 1st of October 2022 at $0,000002. This trend has taken a downturn since, but given the volatility of BTTC, it is always possible to see a turn toward the green candle sticks. The exchange permits traders from Australia, China, the UK, and other Asian territories. Still, due to heavy tax regulations, US citizens are not allowed to purchase BTT on the Binance platform.
The future of BTTC tokens?
As you’re reading this, the most prolific crypto exchanges are replacing BTT tokens (old-BTT) with Tron’s updated BTTC token, a TRC-10 utility token on the BitTorrent ecosystem. BTTC has an estimated supply cap of 990 billion tokens.
Before trading or investing in BitTorrent Chain tokens, there are a few things to consider.
- Deposit fees: This usually depends on the exchange. Many exchanges offer free deposits to incentivize users.
- Trading fees: These fees are also subject to change, but most exchanges charge a fee based on 30-day trading activity. This is meant to encourage large trading volumes on their platforms.
- Volatility: speculations about the price of BTT and BTTC are subject to significant volatility.
- Inverting term: It is essential to determine whether you’re interested in using BTTC as a short-term investment asset or if you’re in it long-term and a part of the “HODL” community.
- Tax Regulations: BTT and BTTC are subject to jurisdictional tax regulations. This is something to consider before investing in a TRC token.
The BitTorrent Chain (BTTC) Mainnet went live on 12 December 2021. BTTC is an updated iteration of the TRC-10 token. It uses the proof-of-stake consensus mechanism for validating transactions and scaling smart contracts. This cross-chain interoperability protocol enables the TRON, Binance Smart Chain, and Ethereum networks to interact. This presents several positive prospects for BTTC’s future.
BTTC reached a high of $0.00000086 on the 14th of October, 2022. It soon dropped again, but speculators predict that BTTC could reach a value range of $0.0000051 to $0.0000059 by 2025. With a bull run like that on the horizon, this is perhaps a perfect time to adopt Tron’s new favorite crypto token.
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