Disclaimer: This is for informational purposes and is not meant to serve as financial or investing advice.
What Should You Know Before Investing in Crypto?
Cryptocurrencies are digital assets that you can trade and own on a blockchain. Crypto tokens can be governance tokens, payment tokens, or in the case of BTT, utility tokens.
What Is BitTorrent Coin (BTT)?
BTT is the token for the world’s most extensive decentralized file-sharing protocol. BTT is a TRC-20 token which means it is on the Tron blockchain.
You can use BTT with many BitTorrent dApps. When you connect your BTT wallet with “BitTorrent Speed,” you can use the token to speed up torrent download speeds.
You can also be rewarded BTT for seeding torrents on the platform.
Using the Tron network, BitTorrent File System, or BTFS, allows you to store your essential files on decentralized servers. BTT tokens will be used in exchange for storage fees. Because BTFS is decentralized, your files will be accessible wherever you use your BTT wallet.
How Can You Buy BTT?
Step 1: Open Your Account
BitTorrent recommends US users buy BTT on the Kraken cryptocurrency exchange. Go to their homepage, register with a valid email address, and choose a password.
Step 2: Buy a Wallet (or Use an Existing One)
Choose a Tron wallet here and download it to your device. You can buy a hardware wallet from a company like Ledger if you want higher security.
Step 3: Purchase BTT
Once your identity is verified on Kraken, you can connect your bank account to the exchange or add a debit card. Then you can add USD via bank transfer to purchase or trade BitTorrent. Once purchased, you can send BTT from Kraken to your new Tron wallet address.
What Should You Do After Buying BTT?
1. Trading BTT
You can continue to trade BTT on Kraken or a Ton-based decentralized crypto exchange like Sunswap.
2. Selling BTT
You can always send BTT from your wallet to an exchange like Kraken to sell it all. Be extra careful to read the docs and only send BTT to the exchange address provided.
When you’re ready to sell your BTT, you must decide which token to exchange it for. You can take profits in significant cryptos like Bitcoin and Ethereum (ETH) or a stablecoin like USDT.
3. Converting BTT
Converting BTT is as easy as buying and selling on an exchange or connecting your Tron wallet to an exchange dApp.
BTT FAQs
What Are the Current BTT Prices?
You can check BTT’s current price on Coingecko or Kraken. It is down significantly from its all-time high price earlier this year. However, most crypto assets, from altcoins to BTC, are also experiencing dips. Remember that crypto is more volatile than fiat currency, but volatility is not necessarily bad.
What Is the History of BitTorrent Coin?
Bram Cohen started BitTorrent in 2001. Experts estimate the software has been downloaded more than 2 billion times since its inception.
The torrenting platform BitTorrent was acquired by the Tron foundation in 2018. The Tron foundation is building out dApps on the Tron network and launched BTT in 2019 to power the dApps.
What Are the Best Wallets for BTT?
The great thing about BTT is you can use any Tron wallet to hold or send it. The most popular Tron wallets are Ledger and Trezor hardware wallets and Tronlink and Trust for software wallets.
Software wallets are phone apps or browser plugins that allow you to store and send crypto.
What Should You Do if Your BTT Isn’t Showing in Your Wallet?
If BTT isn’t showing up in your wallet, you can take a few troubleshooting steps.
First, double-check that you sent the BTT to your correct Tron address. Often you can accidentally copy the wrong address into your clipboard. If that doesn’t work, make sure your wallet has the BTT contract address saved.
Is BitTorrent Coin (BTT) a Good Investment?
Tron is a utility token on the Tron network. The token will likely be used in the BitTorrent ecosystem as the Tron Foundation builds it.
Tron is one of the top 20 most valuable blockchain networks. If you are bullish on Tron or its founder Justin Sun, then BTT might be a good speculative play. Given the Tron ecosystem's ongoing investment in BTT and BTT's relatively low market cap, there could be upside potential.
Using Pluto’s advanced screening tools, you can gather more information about BTT and decide if it fits your investment portfolio, whether you’re a beginner or a seasoned crypto investor.
The Bottom Line
BTT is a promising new utility token running on the Tron network. If you want exposure to an undervalued token in the Tron ecosystem, check out BTT. BitTorrent is a proven protocol that’s been around for two decades and already has users.
For more detailed financial information and historical data, sign up for an account on Pluto and use our free-to-use tools to analyze Tron tokens.
Want to learn more about other tokens and trading strategies? Check out our Youtube channel for more content.
Sources:
BusinessWire BitTorrent Crosses historic 2 billion installations | Business Wire
