Alan Draper
Clickout Media LTD
This is a sponsored post. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by the external author of the post. You should be aware of all the risks associated with trading. Cryptocurrency presales can be very risky investments as the assets have yet to be proven in the market. Some or all the tokens mentioned in the articles may be devalued or subject to scams, and investors may lose all capital as most of these assets lack proper due diligence. FXStreet is not responsible for any losses incurred from investments in crypto presales.
Bitcoin BSC (BTCBSC) is a newly released staking token operating on the Binance Smart Chain (BSC). It offers users the chance to earn passive income returns every 10 minutes.
The new token is modeled after the 2011 version of Bitcoin, with an affordable entry price of under a dollar and an initial circulating supply of over 6 million.
BTCBSC stands out not just for its affordable cost but also for the attractive staking incentives and the upside potential new crypto projects can often provide.
For instance, BTC20, a similar new project rolled out earlier this year on Ethereum, saw a quick sell-out of its $6M initial offering in just a few days. The token jumped by over 700% after its initial Uniswap listing.
Given the early excitement surrounding BTCBSC, it could potentially emulate BTC20’s success post-launch. The presale went live yesterday, September 5th, and tokens can be bought using BNB, ETH, or USDT.
What is Bitcoin BSC?
Bitcoin BSC is a hot new crypto project that replicates the features of Bitcoin but comes with a modern twist. Built on the Binance Smart Chain, Bitcoin BSC is an BEP-20 token.
Unlike traditional Bitcoin, which uses a Proof-of-Work (PoW) mechanism, Bitcoin BSC employs a Proof-of-Stake (PoS) model. This allows holders to earn passive income by staking their tokens.
What sets Bitcoin BSC apart is its cost-efficiency and speed, thanks to the Binance Smart Chain. Transactions on BSC are faster and incur lower fees than those on Ethereum.
Moreover, users can easily store and trade Bitcoin BSC through popular wallets like Trust Wallet or MetaMask.
During the ongoing presale, Bitcoin BSC tokens are priced at $0.99, mimicking Bitcoin's April 2011 price, offering an attractive price point. So far over $25,000 has been raised since the new crypto project went live.
Join the Bitcoin BSC Telegram channel to keep up with the project updates (admins will not DM you first) or follow the official Twitter.
Staking Rewards With APY of Over 49000%
Bitcoin BSC allows users to earn tokens through staking. Staking essentially means "locking up" your $BTCBSC tokens in a contract, incentivizing long-term holding.
The more you stake, the higher your rewards in new $BTCBSC tokens. This model provides a cost-efficient and eco-friendly alternative to Bitcoin's energy-intensive PoW system.
The token distribution is aligned with Bitcoin's original block reward mechanism and runs on a 120-year vesting schedule.
Bitcoin BSC Tokenomics And Presale
Per the Bitcoin BSC whitepaper, the tokens are designed to closely resemble Bitcoin's structure, with a total token limit of 21 million.
As with Bitcoin in 2011, the platform reserves 6.125 million tokens for its initial circulating supply.
The initial presale phase starts with 4 million tokens, keeping an additional 2.125 million for additional oversupply in case of extra demand.
The presale hard cap stands at $3.96 million. It also has an extra 2.125 million tokens to supplement the initial offering, with a total cap of $6.125 million. Any remaining tokens will be distributed to the staking fund.
Meanwhile, the remaining bulk of 14.455 million BTCBSC tokens, or 69% of the total supply, is set for the staking pool and will be vested across 120 years, similar to Bitcoin.
Post the presale, 420,000 tokens (making up 2% of the total) will be set aside for liquidity on decentralized trading platforms.
A Faster And Efficient Alternative To Bitcoin
Since it is built on Binance Smart Chain, transactions on BTCBSC are inherently faster and more eco-friendly than Bitcoin's PoW system.
Here's the simple breakdown:
- Transaction Speed: Bitcoin transactions can take around 10 minutes to confirm. BTCBSC transactions are almost instant, taking less than 5 seconds.
- Transaction Fees: Bitcoin transaction fees range between $5-$10. With BTCBSC, you'll spend less than 10 cents per transaction. A significant difference is if you're making frequent trades or transactions.
- Staking Rewards: BTC lacks an on-chain staking mechanism. BTCBSC fills this gap by offering highly high APYs for staking. As previously seen, early adopters are seeing APYs of over 49,000%.
- Environmental Concerns: Bitcoin has been criticized for its high energy consumption. BTCBSC is more energy-efficient due to its PoS mechanism.
- Flexibility for Future Development: BSC can run applications, opening doors for BTCBSC's future functionalities.
This is a sponsored post. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by the external author of the post. You should be aware of all the risks associated with trading. Cryptocurrency presales can be very risky investments as the assets have yet to be proven in the market. Some or all the tokens mentioned in the articles may be devalued or subject to scams, and investors may lose all capital as most of these assets lack proper due diligence. FXStreet is not responsible for any losses incurred from investments in crypto presales.
ETF News provides quality insights in the form of financial guides and video tutorials on buying and investing in stocks. We compare the top providers and provide detailed insight into their product offerings. We do not advise or recommend any provider but want to enable our readers to make informed decisions and trade on their own responsibility. Contracts for Difference (“CFDs”) are leveraged products and carry a significant risk of loss for your capital. Up to 67 % of retail investor accounts lose money trading with the brokers compared on this website. Please make sure you fully understand the risks and seek independent advice. By continuing to use this website, you agree to our Privacy Policy.
Recommended Content
Editors’ Picks
Hedera price surges more than 25% following a spike in trading volume
Hedera price surges more than 25% on Monday after rallying 64% last week. The rally was fueled by Canary Capital, which submitted an S-1 registration to the US SEC for an HBAR ETF, offering investors exposure to the crypto asset’s price.
Robinhood CEO calls UK approach to crypto “backwards”
Robinhood CEO Vlad Tenev criticized the UK’s restrictive crypto policies, comparing them to regulated gambling. Concerns grow over crypto trading addiction, with a significant amount of traders relating it to gambling.
Bonk holds near record-high as traders cheer hefty token burn
Bonk (BONK) price extends its gains on Monday after surging more than 100% last week and reaching a new all-time high on Sunday. This rally was fueled by the announcement on Friday that BONK would burn 1 trillion tokens by Christmas.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates after a new all-time high
Bitcoin price consolidates between the $87,000 to $93,000 zone. Ethereum's price is nearing its support level of $3,000; a close below would cause a further correction.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.