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Here’s Why Bitto Could Be The Next Big Thing In The Cryptocurrency Exchange Space

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The cryptocurrency exchange industry is big business. In the last twenty-four hours, Binance did just shy of $3 billion in volume across its top ten traded cryptocurrency pairs. Bithumb did $3.2 billion. Bitfinex saw $1.64 billion traded on its top ten pairs.

­All of these exchanges take fees from traders for each of the buys and sells they carry out, translating to substantial daily revenues; revenues that are only set to increase as the cryptocurrency space advances further into mainstream consciousness.

This is great for those running the exchanges and the investors behind them, of course, but that’s where the collateral benefit ends – in most cases. Binance has its own token and holders of the coin benefit from the platform’s growth to a degree, but this coin was only recently issued meaning the platform had already expanded its userbase substantially by the time investors were offered an opportunity to take a position in any future growth.

What if there was an exchange that offered individual traders and investors an opportunity to pick up an exposure to the growth of a platform like that of Binance ahead of its user acquisition?

Well, there is, and it’s called Bitto.

Bitto is a brand new cryptocurrency exchange that is currently conducting an initial coin offering (ICO) that allows participants to pick up an exposure to the company and its exchange platform ahead of its primary growth phase.

The first stage of the ICO is about to close but there’s still time to participate ahead of the second stage kicking off and participants will receive the company’s proprietary token, BITTO – something we’ll focus on in a bit more detail shortly.

But first, let’s address an important question: how can a new exchange compete with some of the existing industry behemoths – Binance, Bittrex, etc.?

Well, Bitto differentiates itself from these exchanges by offering its users much more than just the ability to buy and sell a particular cryptocurrency across its platform. Sure, users can trade cryptocurrency using the Bitto platform, but they can also earn money and gain rewards through a number of other methods, including:

  • Staking – BITTO is a proof of stake coin.
  • Referrals – users earn a live commission on any trades their referred users make across the platform.
  • Lending – through the platform’s lending facility, users can lend to other traders and earn daily interest of up to 18%.

But that’s not all. Any users that are either inexperienced cryptocurrency traders or that want to optimize their returns are able ­­to follow other traders – traders that have a proven track record of profitable trading across the Bitto platform. In other words, through the copy trading and signal type service that the platform offers, when a top crypto trader earns, Bitto users earn at the same time.

So what are the advantages of taking part in the ICO?

Well, first up, participants can gain access to reduced trading fees, with the fees payable variable depending on the degree of participation. Second, holders receive bonuses based on the tokens they pick up as part of the ICO. Stage one participants receive a 34% bonus (this is the stage that’s open now – but not for much longer).

Stage two participants receive a 22.5% bonus, stage three participants receive an 11.25% bonus and stage four participants get a 5.625% bonus.

Additionally, the company also intends to carry out a token buyback program that will see it burn tokens over time. As per this program, a certain percentage of profits will be used to by BITTO on the open market and these tokens will be removed from circulation. Simple supply and demand economics suggest that a decreased token supply should translate to an increased per-token price, meaning that this reward program should boost price over time.

There’s also an organic per token price increase assumption, rooted in user growth. As more and more users come on board, more BITTO will be bought and held to stake the network, increasing demand and – by proxy – price.

Finally, if a user wants to take advantage of the copy trade facility, they must purchase tokens to use as capital. Therefore, the higher the participation in this program (and since it’s a neat way for users to essentially trade like a professional), the higher the demand for the tokens.

To conclude, then, this is a brand new exchange that offers its users much more than the current leaders in the space offer theirs. Lending and borrowing facilities, staking and the ability to earn through referrals should drive user growth and any participants in the ICO stand to benefit from this growth through their ownership of BITTO tokens going forward.

Check out the Bitto white paper here.

Participate in the first stage of the company’s ICO here.


Image courtesy of Bitto.tech

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Why Bitcoin Price Remains Stable Before the Expected Hike

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The cryptocurrency rallied a few days back, but now, it has moved closer to 38.2% Fib level. Investors are enthusiastic that as it remains at this level for some time, and stabilize. The next move in Bitcoin price will take it to the 61.8% Fib level. This is when the hike in the price of the cryptocurrency will occur towards $4,200. However, after the surge in price, the upcoming weeks will see the Bitcoin falling swiftly to $3,000.

The truth is that if this move fails to occur, there may not be an improvement in the value of the digital currency. Also, this movement will enable the “bullish gartly pattern” we saw on the BTC/USD 4H chart to become a reality. Also, we are expecting that the Bitcoin price will decline the same way it has been recovering since early February.

Why this week’s closing price matters

Presently, Bitcoin price is still trading above what the intrinsic value is showing on larger time frames. However, we can see adequate room to accommodate short-term rallies. The price at which Bitcoin closes this week is very critical. It will be a clear indication as to how the digital currency will move in the coming weeks.

If Bitcoin closes at a price above $4,000, we are hopeful that the correction may come from early next week. On the other hand, any…

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Stanford Lecturer praises XRP over Bitcoin

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The world of cryptocurrencies continues to cause controversies even now, particularly when it comes to matters such as the superiority of one coin over others. According to recent reports, one student from Stanford University has stated that one of Stanford’s guest lecturers — Dr. Susan Athey — bashed the first and largest cryptocurrency, Bitcoin, while praising XRP.

Does guest lecturer go anti-Bitcoin?

In late February, Stanford’s student called Conner Brown came out publicly with a claim that Athey described Bitcoin’s network and protocol inaccurately, and that she also used the opportunity to make unfounded criticism. Athey, who also sits on Board of Directors at Ripple Labs — XRP’s parent company — supposedly also stated that XRP provides solutions to all issues mentioned in regards to Bitcoin.

According to Brown’s comments on the matter, the lecture in question took place over a month ago, and after attending it, he wrote an open letter to Standford, explaining the incident. In the letter, Brown claims that Athey inaccurately presented Bitcoin’s consensus protocol and overstated several issues, such as the threat of a 51% attack on the coins network, as well as Bitcoin’s mining centralization.

However, the main problem with the lecture, as Brown sees it, is the professor’s claims that XRP presents a solution to these problems.

The claims caused Dr. Athey to respond publicly via Twitter, stating…

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Bitcoin Chasing Green — First Positive Month Since July In Sight

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The crypto market has started seeing gains in mid-February, with Bitcoin (BTC) following the bullish trend as well. In fact, the largest coin was on its way of seeing the first positive month since July of the last year. Even though its price was struggling to permanently overcome the major resistance at $4,000, the coin kept trying, and as long as its price doesn’t drop below $3,414, this goal can still be achieved

The return of the bearish trend which briefly overtook the market on February 24th caused a lot of damage, although Bitcoin managed to remain above $3,800. Following the crash, BTC started seeing minor gains once again, indicating that the bears have withdrawn for now.

What does the future hold for BTC?

As mentioned, Bitcoin can only complete a positive month if its price remains above $3,500 until the end of February. At the time of writing, the price sits at $3,807 according to TradingView, with an increase of 0.58% in the last 24 hours. As things are right now, it is likely that BTC might succeed in doing this, as its price performed relatively well ever since January 11th, even though it remained between $3,300 and $3,700.

Chart courtesy of TradingView

The recently-emerging bullish trend took it beyond this, and while the price…

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