Ever since bitcoin’s inception in 2009, the price of a single unit of bitcoin as steadily increased, up until 2017, when the price exploded and caused mainstream investors and users all over the world to be plunged into a crypto frenzy. The industry has also given rise to several strange terms and phrases such as Buy Back, Smart Trading, Referral, Signal, Backed Loan, Proof of Stake, and Cryptocurrencies.
Despite the relative obscurity of the phrases, they’ve been readily gliding over the lips of regular individuals all over the world. Perhaps rightly so, as the price of bitcoin grew with an exponential 450% within the last three months. The sharp price increase and excitement of the industry have secured bitcoin’s place in the mainstream.
However, despite the cryptocurrency’s increasing popularity it still not easily available and accessible all over the world. In fact, many traders in certain regions are still very limited when it comes to bitcoin trading.
At the moment, the majority of cryptocurrency exchange platforms provide a service which charges users exorbitant trading fees in exchange for a slow system. In addition, most exchanges have demonstrated a single-minded approach when it comes to trading. They provide their customer only with trading options and seem oblivious to other financial solutions that they can provide to their customers to enhance their overall bitcoin experience.
Why choose Bitto
Bitto has been created with the goal to provide its users with a wide array of products and services that will bring much-needed relief to the increased obstacles faced by regular users. The products and services have been designed in such a way to be practical, functional, stable, and above all realistic.
This is especially true of Bitto’s core service, an online cryptocurrency lending platform. This platform has been created to offer its customers with a sense of security and transparency. The platform was designed to offer both borrowers and lenders with an optimum service that is both driven by market trends while being easily accessible and user-friendly.
To achieve this goal, the platform is endowed with excellent support services which can cater to any customer’s every need that is compliant with Bitto’s core values. Bitto has been created to be integrated into the customer’s every day with ease and a level of competency that is sure to impress.
The Bitto platform has integrated six separate core models into one user-friendly exchange. This system not only ensures conveniences but also allows their customers to generate revenue using several sources.
The platform’s own cryptocurrency, Bitto Coin, will be available in a limited supply of 30 million. Of the total coins, only 21 million will be allowed to be in circulation at any given time, while 3 million Bitto coins will be used to reward Bitto holders within a period of 24-months.
What is Bitto Coin?
Bitto Coin, has been created using the Ethereum Blockchain network and is based on the Ethereum coin, ERC20. The developing team chose the Ethereum network as it offers investors more cost efficient transaction fees as well as a more efficient network.
Bitto will utilize the PoS Reward system over that of the traditional Proof of Work (PoW) system in an attempt to be more environmentally conscious. In addition, the coin will serve as a digital asset to be used on the platform for collateral lending.
PoS-based cryptocurrencies have proven time and time again that they are much more efficient than their PoW counterparts. This is especially true when it comes to being cost-efficient, as PoS is less heavy on energy consumption than PoW.
The developers behind Bitto Coin chose this system in order to create a network that is more sustainable has the long-term possibility. This decision will also ensure that Bitto is based on a strong foundation that will later positively affect both Bitto Coin’s market supply and price.
The benefits of Bitto
What sets Bitto apart is the fact that the platform was created to think about its users need. The platform’s unique and comprehensive integration which offers its customers several tailored benefits including a support team that is dedicated to seeing you thrive, a PoS system committed to the environment, progressive organizational tools, as well as a borrowing/lending portal.
Because Bitto was designed with the investor in mind, they reward their investors with 30% of their circulating coin supply. Long-term Bitto holders can look forward to future Bitto coin rewards.
Bitto is primarily driven by the goal to shape and cultivate the brand new wilderness that the cryptocurrency landscape has to offer. To achieve this ambition, Bitto is dedicated to providing world-class service to customers from all over the world, while still ensuring that every individual user has access to precise trading and tailored services at their fingertips. This quality service is underpinned by a dedication to customer security. The support service at Bitto has implemented only the highest security measures to protect their customers and servers against malicious attacks.
To date, a large portion of ICOs has offered prospective investors unrealistic promises together with an unsustainable business plan and fraudulent promises. Bitto believes that honesty, transparency, and a realistic outlook is key to a good relationship with investors.
The team behind Bitto is dedicated to providing a secure lending platform that is driven by a realistic approach. This attitude will go far towards ensuring that the platform is accessible to a diverse customer base. In addition, Bitto wishes to ensure that all customers enjoy an optimum experience on their platform.
What Bitto offers
The Bitto platform has been created to be internationally orientated. On this platform, users will be able to:
- Trade any cryptocurrency from any location across the world with access to friendly 24/7 support that can aid you in any issue.
- Get tips and tricks from international profitable traders.
- Easily use the Bitto Coin on the platform while the developing team still creates a relationship with merchants all over the world.
- Use the Bitto token to access a wide variety of services on the platform such as loans, staking, or signal trading.
Depending on each investor’s contributing tier, they might be eligible for the Free Forever program where ICO investors can enjoy unlimited trading at no added cost. Members of lower tiers, however, will still enjoy several benefits such discounted trading fees. To activate these benefits, members simply have to use their Bitto tokens on the platform.
Bitto has created a unique lending system for its customers. Borrowers can use the platform to get a loan while keeping their own cryptocurrency. In all loans, up to 70% of the total loan value will be taken into account to provide for the event of extreme market volatility. This means that the customer’s cryptocurrencies remain secured in a signature wallet.
Lenders receive added benefits after reaching the Bitto hodlers tier. This is reached after the lender has staked on the Bitto platform for an uninterrupted period of 15 days. After becoming a Bitto hodler, lenders will be allowed to make loan contracts with borrowers at no additional cost. However, any external lender will be subject to paying a small fee before being allowed to operate on the platform. Once a lender has selected their country, they will be allowed to only operate from this area, in an attempt to limit instances of money laundering on the platform.
Future Development of Bitto
Bitto hopes to provide its services in both an online and offline capacity. The trend in the cryptocurrency industry is to operate purely online as it suits the medium of virtual currencies and is more convenient to access. However, Bitto believes that this eliminates a vital part of the customer relationship. This has inspired the company to established brick-and-mortar offices in locations all over the world which customers are encouraged to visit for a more personal Bitto experience.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of Fabian Figueredo via Flickr
Importance of Bitcoin ETFs and Bakkt for the Crypto Space
It is no secret that 2018 was a very bad year for cryptocurrencies, at least when it comes to prices and market cap. However, in its brighter moments, this year managed to set the stage for some very important events that are expected to make 2019 very successful and profitable. Two things have attracted the most attention, both of which were expected to occur in 2018, only to be moved for early 2019. Those two are Bitcoin ETF decision by the US SEC, and the launch of Bakkt.
What are Bakkt and Bitcoin ETFs and why are they important?
Let’s start with Bakkt first. Bakkt Exchange is a business that is set to launch at the very beginning of 2019. It is a cryptocurrency platform that is set to offer a large number of services, including things such as warehousing and trading. However, there is another thing that makes Bakkt special, and that is the fact that the exchange itself is a product of the same company that has created the New York Stock Exchange.
In addition, Bakkt will be supported by some very influential names, such as Microsoft, BCG, and even Starbucks, to name a few. Furthermore, Bakkt will support crypto-to-fiat conversions. Starbucks will actually be one of the companies that have volunteered to help test the system, as users will be able to convert crypto to…
SEC Postpones Bitcoin ETF Decision Once Again
The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.
The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.
The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.
Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman
Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.
Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them all,…
What to Expect in 2019: BTC, BAT, and Steem
There are only a few weeks of 2018 left, and considering how bearish and crypto-unfriendly this year was, a lot of investors will likely be pleased to see it gone. Many believe that 2019 will be the year that will correct BTC prices and bring forth the period of great recovery.
But what does that mean for digital currencies? Which ones are a good investment right now? This is something that we will, hopefully, be able to answer right now. Here are the top 3 coins that everyone should keep an eye on in 2019.
1. Bitcoin (BTC)
Of course, we have to start with Bitcoin, the first and largest cryptocurrency. Bitcoin has lost a lot in 2018, and its losses are unparalleled by any other coin. In fact, in terms of market cap, Bitcoin has lost as much as the rest of the crypto market put together.
Many believe that its rapid growth, which started in late 2017 and has brought it to its all-time high, is responsible. That the bearish 2018 was only a one large price correction of the last year’s price surge. Even if this is true, price corrections, luckily, all end sooner or later, and when this one comes to a close, Bitcoin will likely be ready for a big comeback.
2019 is expected to bring a lot that will serve BTC’s rise…
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