What is BitTorrent (BTT)? Things to know about the latest BTT coin 2020

bittorrent-btt-token

BitTorrent (BTT), the token that was opened for sale on the Binance Launchpad platform of the Binance exchange has been x10 after going on the exchange and opened the “fever” of IEO for a while. So…

  • What is BitTorrent? What is BTT token?
  • Should I invest BTT token?
  • Buy and sell BTT tokens Where is the reputation?
  • BitTorrent token wallet Which should be used?

If you are looking to find out BitTorrent platform and potential invest BTT token, this article is what you need to find

What are you waiting for, let’s start the article!

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What is BitTorrent? What is BTT token?

BitTorrent (BTT) is a blockchain protocol that supports resource sharing on P2P (peer-to-peer) networks. It uses BTT token to create economic incentives for stakeholders to participate and contribute to the ecosystem. BitTorrent built and developed on the foundation blockchain TRON.

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Before being branded with a blockchain protocol, BitTorrent already a torrenting app with over 100 million users. Through the application of blockchain technology, BitTorrent has taken on a new face and can meet the needs of a huge number of users.

Besides, with the available user base, after integrating blockchain technology, BittTorrent has become the world’s largest blockchain-based application.

Why fit blockchain into BitTorrent (BTT)?

If you often have to download large data files (such as movies, games, software, …) then you must have used torrenting P2P data sharing method. To do this you must install a torrent client application. The most popular torrent client right now is Torrent owned by BitTorrent.

But why an app like BitTorrent need to integrate blockchain technology?

Here are some reasons:

  • BitTorrent has great potential in the future.
  • Although it has great potential, its current structure is not really good. So it reduces the possibility of future growth and expansion. Through tokenomics mechanism and blockchain will improve this problem.
  • Currently, there are many individuals who do not want to use fiat money to pay for digital goods or services.

Because of these reasons, the transformation of blockchain technology application along with tokenomics will create motivation for the participants to contribute to the ecosystem. Thereby, BitTorrent will develop sustainably to meet the needs of a large user base in the future.

Play an important role in the tokenomics of BitTorrent to be BTT token. So What is BTT token?

What is BTT token?

BTT token is the base currency of the ecosystem BitTorrent. It plays a key role in maintaining stability, security and creating economic incentives for ecosystem participants.

Present BitTorrent are using the TRON blockchain and BTT is a token according to the TRC-20 standard.

Token symbol BTT
Blockchain Tron
Maximum total token supply 990,000,000,000 BTT
Total tokens in circulation 212,116,500,000 BTT
Basic information of BTT token

Ratio distribute BTT tokens

bittorren-token-btt

What is BTT token used for?

Acting as the main token in the tokennomics ecosystem of BitTorrent Candlestick BTT token Mainly used for:

  • Application users BitTorrent can be used BTT token to pay for services on the application such as: increase file download speed, buy digital content, reward content producers, reward people who live stream on BitTorrent platform, ..
  • Use BTT token to raise funds for support activities.
  • The above application developers BitTorrent need to use BTT token to perform app release on this platform.
  • BTT token used to pay airdrop rewards to holders BTT token.
  • Rewards for those seeders when they join seeding, bandwidth sharing. Thereby creating an economic incentive for network participants.

How to mine BitTorrent tokens

BitTorrent token (BTT) is a token issued on the TRON blockchain and you cannot use mining equipment to mine it like you can mine Bitcoin.

However you can own BTT token by buy and sell BTT on cryptocurrency exchanges. Or use the app BitTorrent to receive rewards BTT token.

Should I invest BTT token or not?

Deciding exactly which coin or token to invest in is very difficult because the cryptocurrency market is very volatile. So, I will outline some key points for you to refer to then learn more and make your own judgment and investment decisions.

BitTorrent Development Team

BitTorrent was originally known as an independent company founded on September 22, 2014 by Bram Cohen and Ashwin Navin. However, in 2018, it was acquired by TRON and Bram Cohen left the company shortly after.

Since being acquired by TRON, BitTorrent There have been drastic changes. To do that, it is impossible not to mention the developers of TRON. And the main role is CEO Justin Sun.

Justin Sun very famous, widely known by the crypto community with the title of CEO, Co founder of the TRON blockchain platform.

Next Justin Sun, there are also members like:

  • Justin Knoll: Acting as VP of Product Management. Responsible for key initiatives and product development and promotion. With 11 years of experience at BitTorrent, Former Technical Director (Web) and Chief Architect.
  • Marcus Zhao: assume the position of public chain manager. He used to be a data mining expert of Alibaba Group.

With a talented and experienced team with the backing of TRON, BitTorrent promises enough potential for long-term development.

BitTorrent Development Roadmap

BitTorrent Roadmap

According to the development roadmap published on the homepage of BitTorrent all plans in the 1-2020 fund have been completed.

During the 1-2020 fund, the development team focused on developing tools to support the platform. And entering Q2-2020, the team will focus on developing and improving user-side applications such as wallets and clients BitTorrent.

As can be seen, the team has outlined a specific roadmap for the development of the platform BitTorrent and enhance the user experience.

By ensuring the progress according to what is proposed, it shows that the development team is very interested in this project.

BTT token price

BTT token price chart

Currently, at the time of writing BTT token price is trading at 0.0003 USD. Level BTT token price The all-time high was set at $0.001861 (May 2019). That is, compared to the peak price, then BTT token price currently dividing more than 6 times.

Meanwhile, the lowest price ever of BTT is 0.000139 USD, set on March 13, 2020.

In addition, since its launch, BTT token price There are times when fluctuations are very unusual, increasing and decreasing suddenly. Besides, with a large total supply of 990 billion BTT, it will partly affect the strong upside potential of this token.

Where to buy and sell BitTorrent tokens?

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy BTT, sell BTT token has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell BTT tokens in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy BTT tokens For prestige, I think the best currently is the Bitmoon exchange.

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The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

Prestigious international BTT token trading platform

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the floor name and transaction fee comparison table for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Exchanges Transaction fee
Houbi 0.070-0.20%
Okex 0.060 – 0.150%
Binance 0.015-0.100%

Mainly trading BTT token Your account on international exchanges all use BTC, USDT … to conduct trading.

Recommended BitTorrent Token Wallet

Depends on usage BTT token your wallet that you will choose for yourself the appropriate wallet.

Suitable for those who want to store BTT token long term and few transactions.

The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.

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The best choice for this wallet is Trust Wallet, with a friendly and easy-to-use interface.

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This wallet is suitable for those who often transact.

Some Reputable trading platform that you can refer to are: Bitmoon exchange, Huobi exchange, Binance exchange…

Conclude

This article has summarized the most basic information you need to know about BitTorrent and BTT token. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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