The emergence of the Internet brought so many new possibilities into existence. What was totally out of reach and strictly accessible through permission is now accessible by anyone with little or no permission. Apart from this, people also wanted new platforms that allowed them to send digital files to their friends without any cost or delay.
Bittorrent was created to solve these issues as it offers decentralized file-sharing services for several users on the internet. Its BTT token powers the file-sharing services on the platform. In this article, you will learn what BTT is, simple steps on how to buy Bittorrent token and the latest BTT news.
What is BTT?
Bittorrent (BTT) is a decentralized protocol that allows users to share data and digital files in a peer-to-peer manner on the internet. Its utility token, BTT, is a Tron-based token that is made in the TRC-10 standard. The Bittorrent token utilizes blockchain technology to power decentralized protocols and applications. The token is currently used by DApps like Bittorrent Speed, Bittorrent File System, DLive, and other projects that are yet to be announced.
Bittorrent serves as a censorless platform for any individual to post and receive downloadable files. The platform has been used by some of the biggest file-sharing websites like Netflix, Google and Facebook.
Bittorrent’s initial coin offering (ICO) which took place in 2019 was a big success. The team received $7.2 million within only 20 minutes from the start of the event. The coin’s starting price was $0.00012,
Currently, the team has launched BittorrentChain to enable the seamless transfer of assets across major public chains With the launch of BittorrentChain, BTT has been replaced by BTTC, and to cooperate with this many crypto exchange platforms will be replacing all old BTT balances from the account, at the rate of 1 BTT = 1,000 BTTC.
Step 1: Register on Fiat-to-Crypto Exchange
Before you can buy BTT, you’ll need to buy one of the major cryptocurrencies like Bitcoin or USDT first. You can buy USDT from a fiat-to-crypto exchange like CryptoWallet. CryptoWallet is a secure and easy to use app available on both the Apple and Android app stores.
Here are some steps to successfully open an account on CryptoWallet:
Download the CryptoWallet app from your smartphone’s app store.
After you have downloaded the app, input your details including your name, email address and phone number.
Complete your account creation process by passing a quick verification check. The entire process only takes a few days to complete.
When your identity has been verified, your account will be all set and ready for the next step.
Step 2: Buy USDT with fiat money
The next step is to buy USDT by funding your account with fiat money through bank transfer, credit or debit card.
When you have funded your account, head over to the exchange section of the app and select USDT on the trade tab.
Choose the amount of USDT that you desire to buy and confirm your transaction. Your USDT will be immediately deposited in your in-app wallet.
Step 3: Transfer USDT to an Altcoin Exchange
The next thing to do is to transfer your USDT to altcoin exchanges that support the BTT/ USDT trading pair. The supported exchanges that list the pair include Binance, Kucoin, Gate.io, OKX and some others.
To transfer your USDT from CryptoWallet safely, follow these steps.
On the CryptoWallet App, go to the wallet section and select USDT
Choose the amount of USDT you want to send. Bear in mind that the blockchain will charge some network fees.
Enter the exchange address you want to send USDT to.
Once you have entered a compatible USDT address, confirm the transaction and your USDT will arrive at the exchange address.
From any of the supported crypto exchanges mentioned, you can buy BTT with your USDT.
Last Step: Store BTT Securely
If you need a secure way to store your BTT tokens for a long time, there are different options available. You can choose to store your crypto on a hardware wallet that secures your funds offline. This offers a greater level of protection for funds.
Another option is to store it on several online wallets. The challenge with this option is that most users’ funds are vulnerable to attacks from hackers.
Although hardware wallets are a good option for storing crypto, they are less convenient to use and access easily. CryptoWallet doesn’t store BTT but it securely stores 5 popular cryptocurrencies including, XRP, BTC, ETH, LTC and USDT. It’s counted on by crypto users because it is secured by Bitgo, a prominent digital asset custodian.
Other useful tools for trading BTT
Apart from wallets and exchanges, some other tools can be used in trading BTT. Such tools include a VPN, a charting tool, and a tool for monitoring crypto trends. While making use of a hardware wallet to store your cryptos, you need to make use of an encrypted VPN connection while you trade.
This makes it more difficult for hackers to intercept or access sensitive information from your wallet when accessing your wallet via a public Wifi connection. Some good examples of VPN to check out include NordVPN, Surfshark, and ProtonVPN.
You can also make use of a tool like Tradingview which provides live trading charts for both crypto and stocks. It has a lot of technical indicators for traders to choose from. Another tool to consider is CoinMarketCal. The tool acts as a calendar that shows upcoming and current events on different coins and it helps traders buy rumours and sell the news. This trading tactic is what many traders make use of today.
Can I buy BTT with cash?
It’s not possible to buy BTT with cash at the moment. However, you can use a reliable exchange like CryptoWallet and Coinbase wallet to purchase USDT with fiat currency first. Then you can complete the rest of the steps by transferring your USDT to Binance and swapping your USDT for BTT.
Are there any quick ways to buy BTT in Europe?
Yes, there are quick ways to buy Bittorrent (BTT) and other cryptos in Europe. Europe is one of the easiest places to buy most cryptos in general. There are even exchanges like CryptoWallet which lets you open an easy crypto account and buy popular cryptos with fiat currencies. Afterwards, you can quickly transfer USDT to other exchanges like Binance to buy BTT.
Are there any alternative platforms to buy BTT or Bitcoin with credit cards?
Yes. There are many good alternative exchanges where you can purchase Bitcoin with credit cards. Some of such platforms are CryptoWallet and Coinbase. CryptoWallet is an instant cryptocurrency exchange that allows you to buy BTC with your bank’s credit card. It has a very easy to use interface and the steps to buy and sell are easy for beginners.