BitTorrent is a peer-to-peer file sharing protocol that has launched its own cryptocurrency - BTT.
The BitTorrent protocol seeks to tokenize decentralized file sharing and introduce the active use of cryptocurrencies into it. The internal coin of the BET project allows content creators to monetize it and reach their audience.
Ordinary users using BTT can pay for additional services in BitTorrent, such as fast download. We will tell you how to buy BitTorrent (DHT) and where it is better to store it below.
In January 2019, Binance conducted a listing of the BitTorrent cryptocurrency. Later, the BTC coin was added to the quick purchase section, where it can be purchased with a credit or debit card in just a few minutes.
Where to store BitTorrent (BTT)?
BTT coins can be stored on a wallet embedded in the BitTorrent client or on an exchange wallet. But for the most secure storage, we recommend using a Ledger hardware wallet.
Unlike other types of wallets, Ledger provides cold storage of cryptocurrencies. In the absence of access to the Internet, coins are maximally protected from hacker attacks. Additional protection is provided by confirmation of each operation with a PIN code. Users can also set a seed phrase that allows you to easily restore access to funds in case of loss.
How does the BitTorrent cryptocurrency work?
It is extremely important to separate BitTorrent, the original peer-to-peer protocol, from BTT, the cryptocurrency that the protocol implements as a monetary incentive (payments).
What is a BTT token?
BitTorrent, as a project, existed long before the BTT token. Even today, you can use a free BitTorrent project without a BTT token. According to the official document of the project:
"BTT [valid] as a general purpose mechanism for conducting transactions in computing resources shared between BitTorrent clients and the liquid market of requesters and service providers."
Along with BTT, the development team introduces BitTorrent Speed. Since there are no financial incentives for seeders in the original protocol, swarms often die out prematurely (and the distribution of some file stops).
To solve this problem, BitTorrent Speed offers BTT bonuses for users who continue to distribute files after downloading.
The ultimate goal of BTT implementation is to transform BitTorrent into an entire content ecosystem, including content delivery, decentralized storage and proxy servers.
The maximum number of BTT coins is 990,000,000,000, of which:
- 20% went to the TRON foundation
- 19.9% remain in the BitTorrent ecosystem
- 19% remained in the BitTorrent team and fund
- 17% were sold in a private, public sale
- 10.1% are part of the Tron program
- 10% are part of the Airdrop BitTorrent program
- 4% - partnership tokens
Tips for safe purchase and storage
Cryptocurrencies seem unattainable at first glance, but they are not. They, like other types of money, are susceptible to theft. And to protect your finances, it is strongly recommended that you adhere to the following security measures:
- Store your assets on cold storage wallets.
- Make a purchase only on proven trading platforms.
- Check whether you are really on official websites, and not phishing fakes.
- Protect your exchange account with strong passwords and two-factor authentication.
- Do not store your login details for exchange accounts, wallets and other financial services online.
- Use only secure home Internet networks to log in to financial accounts.
- Install reliable antivirus software and make sure it is updated in a timely manner.
- Remember that all transactions in cryptocurrency are irreversible, so carefully check the details to which you send funds.
By remaining vigilant and adhering to simple security rules, each user will be able to protect their assets and financial accounts from unauthorized hacking and theft.
At the moment, BitTorrent has more than 1 million. active users and is considered one of the most popular in the world. The presence of a useful ВТТ service token makes the service even more attractive to use. Experts predict that in the future, as the number of users increases and new partnerships are concluded, the value of the coin will grow. Therefore, it is recommended to invest in ВТТ right now - you know how easy and safe it is to do it.
Quick instructions for buying BitTorrent (BTT) on Binance
To buy BitTorrent (BT) on Binance (the exchange with the largest trading volume of BTT), you should follow just a few simple steps:
- Create an account on the Binance cryptocurrency exchange by filling out a small form.
- Open the cryptocurrency purchase section. Select the fiat currency of your card in it, in the bottom line BTT.
- Enter the desired purchase amount. The service immediately displays what amount will be debited from the card and how many coins will be credited to the account, as well as the current value of BTT.
- You will pass a small KYC check, specifying your name, country of residence and TIN in the form. For the first stage of identity verification, confirmation of information by scans of documents is not required.
- Add your card information and make the payment.
The minimum purchase amount in the section is 15 USD, and the maximum for users who have passed the initial verification is 300 USD. In the case of a full-fledged verification, the maximum limit can be increased to 15 thousand USD.
Where to buy BitTorrent (BTT)?
The BTT token plays various roles in BitTorrent products and has become quite widespread. The coin is presented on a variety of trading platforms, Below we will analyze how to make a purchase on the most reliable crypto exchanges.
Binance is currently the largest and most popular crypto exchange in the world. The platform offers a wide range of products, safe and convenient trading on any device, several trading terminals and an interface translated into more than 23 languages.
Buying BitTorrent (BT) on a Binance is possible not only for fiat funds from cards, but also cryptocurrencies. In the latter case , you will need:
- Log in to your Binance account or create a new one.
- Top up the exchange with one of the 150 available cryptocurrencies.
- Open the trading section and then convert. Set the desired exchange direction and enter the transaction amount.
- Click “Confirm” and complete the transaction.
The minimum purchase amount in the section is 20 USDT or their equivalent. To circumvent the restrictions, you can use one of the exchange's trading terminals, where the BTC coin is traded in as many as 9 trading pairs.
Payment methods: 150+ cryptocurrencies, bank cards and transfers from the account, AdvCash, PayPal, Skrill, Payza and many others.
- trading volume of more than 2.7 million PTS;
- convenient trading process;
- trading commissions are only 0.1% and can be reduced under the loyalty program;
- highest safety standards;
- extensive purchase limits.
- to conduct transactions through fiat gateways, you will need to undergo a small verification.
The large Chinese exchange Huobi provides cellular and margin trading services, supports OTC transactions and quick purchase of cryptocurrencies. You can buy BitTorrent (BTT) on the platform in the spot trading section. To do this, you will need to perform the following actions:
- Go through the simple registration procedure on the platform and top up your exchange account in a convenient way.
- Open the platform's trading terminal by selecting the Exchange section.
- Enter the name of the BTT coin in the search bar to quickly find trading pairs with it. The BitTorrent cryptocurrency is traded on Huobi with BTC, ETH, TRX, USDT.
- Click on the desired trade and fill out the purchase form under the chart.
Please note that popular cryptocurrencies on Huobi can also be purchased in the quick purchase section with payment by cards, from a bank account or electronic wallets.
Payment methods: cryptocurrencies, cards, Bank Transfer and 60+ other methods.
- the exchange is in the top in terms of liquidity and trading volume;
- a large selection of trading pairs is available to traders;
- there is a referral program and a discount system.
- a quick purchase of BTT on the platform is not yet available.
A well-known cryptocurrency exchange CEX.IO allows you to make a quick purchase of many well-known cryptocurrencies for fiat money from bank cards. Buying BitTorrent (BTT) on CEX.IO is possible for USD or EUR. Follow these steps to make a purchase:
- Register on the service.
- In the main menu of the platform, find the instant purchase section.
- Use the drop-down menus to set the desired direction of purchase, and then specify the amount manually or select one of the options offered by the service.
- Click “Buy".
- On the new page, verify your card and complete the payment.
There is also a spot trading section on the exchange, where the purchase of BTT for Bitcoin is additionally available. The minimum limit for buying for fiat is 20 USD, and the maximum depends on the degree of account verification.
Payment methods: cryptocurrencies, bank cards and transfers.
- convenient card purchase;
- good reputation;
- extensive limits.
- it will take a little verification to work with fiat;
- on the CEX spot market.IO only three trading pairs with ВТТ are available.
The KuCoin cryptocurrency exchange was created by a team of experienced specialists only in 2017, but it has already managed to catch up with the number of trading pairs presented and the popularity of old-timers of the market. Today, the purchase of more than 400 trading pairs is available on Kukoin, including four pairs with ВТT.
To purchase BitTorrent, you need:
- Register on the exchange and top up your account. Many cryptocurrencies can be bought directly on the platform.
- When the cryptocurrency is credited to the account, open the spot trading section and use the search to find a suitable pair with ВТT.
- Open a purchase position by specifying in the form in the lower right corner the number of coins to be purchased and their value.
The BitTorrent cryptocurrency on the platform is available in four trading pairs with BTC, ETH, TRX, USDT.
Payment methods: cryptocurrencies, bank cards and transfers.
- availability of tools for quick purchase of top cryptocurrencies;
- many trading pairs;
- promotions, bonuses and loyalty program.
- there is no direct purchase of BitTorrent for national currencies.
The Forex trading platform was registered in 2015. The platform stands out for its simple interface, which will take only a few minutes to learn, and the absence of any significant restrictions on trading.
You can buy BitTorrent here in two currency pairs. You will only need to perform the following actions:
- Create a new account on the official website of the exchange using your phone or E-mail.
- Top up your account in USDT or BTC, or purchase these cryptocurrencies in the instant purchase section.
- Open the section “Trading - Basic trading” and use the search to find the desired trading pair.
- Fill out the purchase form and confirm the order placement.
To use fiat gateways for payment, you will need to additionally pass verification.
Payment methods: cryptocurrencies, bank cards and 100+ methods in the P2P transactions section.
- there is no mandatory certification;
- there is functionality for quick purchase of popular coins, you can trade futures and with leverage;
- a good reputation and a well-known development team.
- The BitTorrent cryptocurrency is represented in only two trading pairs.
How to choose the best time to buy?
The world's most popular torrent client BitTorrent has launched its own cryptocurrency to motivate users to support file distribution and provide them with additional options. But this service token is also of investment interest.
Despite a series of sharp falls, experts predict a great future for ВТТ . For the most part, the value of the coin is influenced by two factors — the number of torrent client users and partnerships. Experts predict that in the future, leading OTT platforms may begin cooperation with BitTorrent, since it can offer high security of content and its rapid distribution.
Where to buy?
The coin is traded on the following exchanges: