Bitcoin remains the number one cryptocurrency even though it is currently about 56 percent below its all-time high. The fact that early investors continue to make huge profits does not change. Many cryptocurrency enthusiasts who missed the opportunity to invest in Bitcoin are also researching the next popular cryptocurrency.
BTC20, a prominent crypto money project, attracts attention with its pre-sale.
Curious investors are researching to buy BTC20 tokens. This article provides a comprehensive overview of the BTC20 token.
What is BTC20 Token?
BTC20 is taking the crypto community to some nostalgia. The project is positioned as an ERC-20 version of Bitcoin built on the Ethereum blockchain. The website also calls BTC20 “Bitcoin on Ethereum”. At the core of BTC20, it seems to take advantage of Bitcoin and place them on Ethereum for more functionality.
BTC20 primarily focuses on offering its users the opportunity to invest in Bitcoin based on the technologically advanced Ethereum blockchain. It is worth remembering that Bitcoin was traded at a value of 1 dollar in 2011. The project aims to replicate a specific stage in Bitcoin’s lifecycle by executing an approved staking contract. The project recreates that moment in Bitcoin’s history by using an approved staking contract to distribute BTC20 tokens on a timeline that follows the rewards of Bitcoin blocks.
BTC20 Token For Those Who Missed The Chance To Buy Bitcoin At $1
BTC20 appeals to those who missed the chance to buy BTC at $1 while aiming to be a legitimate alternative to Bitcoin. In addition, the BTC20 team intends to continue building from where Bitcoin left off.
This is why many crypto analysts are predicting big returns in the new project. However, given the limited token supply and the “Stake-to-Earn” feature, it is also said that the returns will be much more remarkable.
That is, investors who buy BTC20 can stake BTC20 and receive a percentage of these rewards through a PoS (Proof of Stake) mechanism. This makes BTC20 another green crypto to watch closely. BTC20 takes a revolutionary leap forward by recreating the state of the BTC blockchain and token supply, which stood at only 6.05 million in 2011.
The project has a verified staking contract that circulates BTC20 tokens in accordance with the original Bitcoin block reward program. For this reason, the 14.95 million tokens that were not offered in the pre-sale will also reportedly be locked in a staking contract to reward BTC20 stakers.
In other words, when a new BTC block is confirmed, a set of BTC20 tokens are released and distributed to the stakers. The more BTC20 staked, the higher rewards users get.
While the staking process pulls BTC20 off the market, it encourages users to stay and supports the community-driven nature of the project. All this makes it a good long-term investment option.
Fair Launch of BTC20 and Tokenomic Tip
Like Bitcoin, BTC20 has a fixed supply of 21 million. Additionally, BTC20 will adhere to a predetermined unlock schedule.
The pre-sale started with an initial allocation of 3 million tokens. An additional three million will be made available upon completion of the initial sale.
Also, the remaining tokens will be unlocked as stake rewards over a 120-year vesting program.
During the pre-sale period, investors have the opportunity to purchase BTC20 tokens for as little as $1 each. In addition, upon entry on trading platforms, the price will depend on the interaction between the quantity of units available and market interest.
BTC20’s tokenomics has been designed in accordance with Bitcoin principles and will ensure that the entire token allocation, corresponding to 100 percent, will be distributed among the community. BTC20 is considered a fair launch project with the potential to cause significant price fluctuations after the pre-sale phase is completed.
Also, given that community members have the opportunity to stake their BTC20 and earn staking rewards, the available BTC20 supply for new investors is expected to be limited.
BTC20 Has All The Advantages Of Ethereum Even As A Bitcoin Alternative
Pre-sale buyers can buy BTC20 for $1 just like Bitcoin in 2011, but the project’s use of the Ethereum blockchain brings even more benefits to the community.
Earning Bitcoin passively requires running a complex and expensive Bitcoin mining node. However, BTC20’s Stake to Earn feature means users can earn passive rewards without lifting a finger.
Additionally, Ethereum is a much more user-friendly chain and most of the crypto community is more familiar with it. Since BTC20 is located on the Ethereum chain, users will be able to purchase from regular Ethereum wallets such as Metamask or Trust Wallet.
Finally, BTC20 is a native token of the Ethereum network. This makes its security more robust compared to wrapped Bitcoin Bitcoin tokens, which are often victims of bridge exploits.
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