BitTorrent Token Review: Beginner’s Guide


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📝 Overview 📝

The BitTorrent Token is the BitTorrent file sharing protocol which is one of the world’s largest.

Bittorrent facilitates peer to peer file sharing. Users act as seeds for particular files and peers can connect to the network and download from these seeds – this is the original function and purpose of the protocol.

There are a whole host of benefits that come with the tokenization of the protocol.

“BitTorrent Speed” is designed to use financial incentives on the BitTorrent network. Peers will now be able to make payments in BTT to increase their position in download queues and speed up the download process.

There are other use cases for BTT Tokens including:

– A content delivery system where users will advertise their bids and pay BTT to receive content faster.
– A storage platform where users can pay for additional storage or get paid to offer storage.
– And, finally, A proxy service where users with unreliable internet connectivity can pay a client to retrieve content by URL.

The BTT token was issued on top of the Tron blockchain which makes it a TRC10 token.

It was sold in a Binance launchpad Initial Exchange Offering in late January.

In total the sale saw them taking in the equivalent of 7.2 million dollars – this is on top of the 20 million dollar private sale they completed prior to it.

TRX holders are receiving BTT tokens through a number of airdrops.
For example, there was an initial airdrop that took place in February of 2019 – quite a sizable one actually.

This Airdrop will also continue on a monthly basis for a number of years into the future.

BTT is listed on a number of exchanges. These include the likes of Binance (of course), OkEX, Upbit, Huobi etc.

There are strong volume levels across these exchanges.

If you wanted to store the coins in a wallet then any TRC10 compatible wallet should do.


📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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