Before the Tron Network acquisition, BitTorrent was one of the most successful decentralized platforms. The protocol allows users to share files directly without the interference of a central entity.
The project’s eventual integration with Tron has further heightened interests, and investors are keen to learn how to buy BitTorrent for its potential growth.
This guide will provide a tutorial on how to buy BitTorrent in minutes and why this thriving and rapidly developing TRON-based cryptocurrency is so popular.
Where to Buy BitTorrent BTT
This section is our top picks of where and how to buy the BitTorrent BTT Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
Binance: Largest Crypto Exchange with Low Fees
Kraken: Great Exchange for Newbies & Advanced Users
Gate: Solid Platform With Lots of Coins
Visit The Top Pick
Visit Binance
Binance: Reputable Exchange with High Liquidity
Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.
The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.
Read: Our Full Binance Review Here
Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.
Binance Website
Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.
All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.
In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.
Pros
Trading fees at 0.01%
High liquidity
Wide range of payment methods
600+ crypto assets in library
Cons
Interface is suited for advanced traders
US-based customers cannot trade most coins via its subsidiary
Visit Binance
Kraken: Top Crypto Platform with High Liquidity
Founded in 2011, Kraken is one of the oldest and most popular cryptocurrency exchanges currently in operation.
The exchange has built a reputation as being a secure destination for anyone interested in trading cryptocurrencies and it is also a popular choice for both traders and institutions across a variety of locations.
Read: Our Full Kraken Review Here
Kraken retains an international appeal and provides efficient trading opportunities in numerous fiat currencies. Kraken is also the current world leader in terms of Bitcoin to Euro trading volumes.
Kraken Homepage
Kraken is most well known for its Bitcoin and Ethereum to cash (EUR and USD) markets; however a wide range of both fiat and cryptocurrencies are tradable on the platform
Pros
Dedicated service for institutions
Great for beginners to use
High trading liquidity
Cons
The lengthy ID verification process
Visit Kraken
Gate.io: Solid Platform With Lots of Coins
Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.
The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.
The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.
Read: Our Full Gate.io Review Here
Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.
Gate Website
Pros
A wide range of currencies
A low fee structure
Simple registration process
Functional platform with a mobile app available
Cons
Unregulated
The team is not very transparent
No fiat currency transfers
Visit Gate
What Is BitTorrent-New (BTT)?
BitTorrent (BTT) is a utility token deployed on TRON’s blockchain. It powers popular decentralised applications and protocols — BitTorrent File System, BitTorrent Speed, and DLive.
These DApps use the BitTorrent protocol to share and transfer data and files swiftly. As a result, BTT became the largest file-sharing protocol in the year 2019.
By incorporating a hybrid consensus mechanism, BitTorrent has eliminated the accessibility problems.
BitTorrent also relies on a cryptographic method that is based on zero disclosure and mathematical consistency on a blockchain-enabled transaction; this cross-checks data seamlessly without revealing data or third parties involved in the transaction. This has provided solutions to the issues of security.
All these wouldn’t have been possible without the advent of the Zyro protocol. This protocol acts as the mainstream of the entire decentralised finance ecosystem.
BitTorrent also acts as a unique protocol for peer-to-peer exchange, and its entrance into the crypto industry via its native token, BTT, has boosted power, utility, and usability by users among several platforms.
A distinguishing feature that makes BitTorrent stand out among its peers is its high liquidity and the lightning speed of transactions on the BTT ecosystem. This feature gives it an advantage that can be compared to other Ethereum-based decentralised finance protocols and enables several mining avenues for all users. This shows that the BTT token is a catalyst that implements smart contracts and processes all transfer funds.
In general, the BitTorrent protocol is trusted. It is the first choice regarding file sharing and faster downloads. Launched in 2001 by Bram Cohen, the protocol offers seamless interoperability with other chains like TRON and Binance Smart Chain.
Its most recent project is the DLive protocol, the first-ever decentralised live streaming platform powered by BTT. With more progressions likely to occur, crypto enthusiasts are eager to learn how to buy BitTorrent.
What Can You Do With BitTorrent (BTT)?
BitTorrent (BTT) is experiencing exponential growth through its unique real-life use cases:
Fast Download Speed
BitTorrent lightning-speed is the primary use case of the BTT tokens. Users who are downloading content can pay BTT tokens to uploaders for swift download speeds. As a result, BTT tokens can be received and used swiftly by both uploaders and downloaders.
BitTorrent automatically boosts the number of files available and the demand for those files by allowing users to optimise their overall experience through the ‘faster downloads’ integration and providing economic rewards for those uploading files.
Decentralised Live Streaming
DLive is a decentralised streaming network powered by the TRON network. BitTorrent acquired it in 2019. DLive uses BTT to reward content creators, viewers, and those who stake tokens on the platform. Viewers can seamlessly subscribe to channels and donate to their favourite streamers using BTT. Creators can also reward users economically by paying small rewards of BTT whenever a challenge is completed.
Investment
Just like most crypto assets, one of the primary use cases of BTT is speculating on the price of the token growing exponentially in the future. BTT has inherent worth and will never approach the zero-value mark because BitTorrent has proven itself as a network with real-life utilities sought by active users who rely on BTT to function properly. BTT is an option for investors who want to hedge risk while gaining a lot.
How Does the BitTorrent-New Work?
Since BitTorrent is a peer-to-peer protocol, computers in a BitTorrent swarm (a group of computers used to download and upload the same file/torrent ) can transfer data seamlessly without needing a central server.
BitTorrent multi-peers systems facilitate faster downloads. Instead of connecting to only one source, users can connect to several sources. This has enabled people with lower bandwidth to join in with file-sharing activities and realise the idea of increasing data distribution by breaking up very large files into smaller bits.
On the BitTorrent platform, the first uploader of a file (often regarded as a torrent) is the ‘seed’; those who download the file are known as ‘peers’. When the download is complete, they also become a seed. Each seed has a piece of the file (the downloaded file) which is encrypted by a cryptographic hash (a digital key code) embedded in the file descriptor. The more seeds created in the BitTorrent network, the faster it becomes to download the file seamlessly. If a file doesn’t have a seeder, it won’t be possible to download as there is no connected user with the complete file.
Is BitTorrent Crypto a Good Investment?
Many crypto enthusiasts and experts believe BTT to be a fairly underrated token given that it is based on the TRON foundation, has great utility, and is priced under a dollar. Here are major reasons this digital asset is considered a great investment option:
BitTorrent is a TRC-20 Token
BitTorrent (BTT) is deployed on TRON, a reputable blockchain project. The successes recorded by the TRON chain will continue to rub off on BitTorrent’s entire ecosystem. This is likely to generate massive gains in the future. In addition, TRON Foundation will continue to create integrations capable of improving BitTorrent, and BTT will enjoy the benefits of its acquisition.
BTT Is Relatively Cheap
BitTorrent native coin, BTT, is one of the fastest-rising cryptocurrencies in the market today, with its price pegged at less than a dollar. This means that investors can buy BTT tokens with little funds and generate massive gains once a bullish run sets in.
BTT Is Attractive to Long-Term Investors
Long-term investors are often the best earners in the crypto market. HODLING a crypto token is a rewarding investment strategy. It involves purchasing a token and waiting for a long period (after it has generated interest/growth in value) before selling. As earlier stated, BTT is a cheap crypto token but might grow over a long time. Investors ready to wait for months/years will surely stand a good chance of seeing their investments become great fortunes in the future.
Ethereum Virtual Machine (EVM) Compatibility
BitTorrent is compatible with all Ethereum-based smart contracts. The BitTorrent Chain enables developers to migrate and build decentralised applications (DApps) easily.
Ethereum is currently the largest hub for dApps and boasts of 3000 plus blockchain-focused applications. BiTorrent is compatible with the foremost smart contract network, meaning developers on the Tron Network can simultaneously launch dApps on both blockchain protocols with ease.
Even more impressive is the fact that Solidity-based smart contracts can run on BitTorrent seamlessly. This gives developers easy access to the robust ecosystem of both Ethereum and Tron networks, as all blockchain services can be executed cross-chain.
How to Buy BitTorrent-New on Binance
Investors can easily buy BitTorrent-New (BTT) with very low fees and enjoy high liquidity, a wide range of payment channels, and top-notch security anywhere Binance is available.
The following is an in-depth guide designed to assist investors in getting started:
Step 1. Create a Binance Account
Creating an account is the first step to buying BitTorrent (BTT) tokens on Binance. Simply select ‘Create a Personal Account’ to register for an individualised trading account.
Investors must submit a valid email address and input a strong password they can always remember. The password can consist of symbols, numbers, and alphabets. To verify a phone line and an email address, users will need to input a cellphone number after tapping the ‘Next’ button to move to the next screen page.
Step 2. Verify Account
Binance, just like all regulated exchanges, requires users to provide KYC (Know-Your-Customer) information and complete some verifications to access the platform’s full features. This ranges from government-issued identity card(s) to driver’s licenses. Proceed to complete the face verification process.
Step 3. Deposit Funds
Deposit on Binance
The next step is the deposit. Binance features many payment options, from bank transfer and credit/debit cards to peer-to-peer (P2P) and e-wallet solutions like PayPal. Click on the ‘Deposit’ icon, type in the amount to invest, choose a payment channel, and tap on ‘Deposit’ to fund the newly created account.
Step 4. Buy BTT
After a successful payment using the chosen payment method, proceed to the search bar menu, type ‘BTT’, and click on relevant results. Investors can now place a buy order, so Binance knows they wish to buy BTT. Once investors have successfully placed a buy order, the BTT tokens will be added to their wallets once the transaction has been processed and finished.
BitTorrent BTT Wallets
Software Wallet
Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.
Hot wallet
A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.
Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.
Hardware Wallet
A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.
Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.
Hardware wallet
With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.
Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:
Ledger Nano S Review
Ledger Nano X Review
Trezor vs. Ledger Review
Mobile wallet
A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users’ private keys while enabling them to pay for things they love with their digital assets.
Mobile wallet
These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.
Desktop wallet
A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.
Paper Wallet
The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users’ public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.
BitTorrent BTT FAQs
Where can I buy BitTorrent tokens?
BitTorrent (BTT) is a fast-rising crypto project. Its real-life utility has seen it listed on varieties of top crypto exchanges. However, if an investor wants to buy BitTorrent (BTT) with low fees on a regulated and trusted platform, Binance is the best exchange to get started. This exchange features seamless trading services and top security to make a trading journey great!
How do I purchase BitTorrent?
Investing in cryptocurrencies can sometimes be complex, leaving investors unsure of how to buy BitTorrent. It is easy to buy BTT. All investors have to do is choose an exchange (we recommend Binance for a low-fee trading experience) and proceed to select how to buy BitTorrent, either with fiat or crypto. With fiat, Binance gives investors options like bank transfer, credit/debit card, peer-to-peer (P2P) market, and e-wallet solutions like PayPal. If an investor decides to buy BTT via crypto, they have to select the crypto to trade for BTT. For instance, BTC/BTT.
Where is BitTorrent traded?
As earlier stated, BitTorrent is listed and supported by several exchanges. These exchanges differ as they are decentralised and centralised. Exchanges like Uniswap and Sushiswap are decentralised, while the likes of Binance and Coinbase are centralised exchanges. Both decentralised and centralised exchanges can be used to purchase BitTorrent (BTT). However, for top-notch security and ease of use, we recommend centralised exchanges, like Binance.
Is BitTorrent on Coinbase?
Unfortunately, BitTorrent (BTT) is not supported by Coinbase. This means that investors cannot buy, sell, trade, or stake BTT on Coinbase. Not to worry, investors can buy BTT easily via Binance in less than 10 minutes. Investors can also leverage and earn interest whenever they stake their BTT tokens via the BinanceEarn feature.
The post Where To Buy BitTorrent Coin (BTT) Crypto: Beginner’s Guide appeared first on Blockonomi.
