BitTorrent coin was created by the Tron foundation in 2019. Bittorrent Inc was acquired by Justin Sun for $140 million according to Techcrunch. It is a file sharing peer-to-peer protocol that allows users to share file in a decentralized manner.
How to buy Bittorrent summary
Follow the steps below to buy Bittorrent quickly:
- Get a BitTorrent wallet (Ledger Nano X, Atomic Wallet)
- Locate your Bittorrent address
- Create a Binance.com account
- Deposit fiat currency, Bitcoin or Ethereum
- Buy Bittorrent with Bitcoin/Ethereum
- Find your Bittorrent address and withdraw your tokens
If Binance.com doesn’t work in your country you can use a VPN or use this exchanges that supports the trading of Bittorrent:
- Cex.io (Supports US traders)
- Huobi.com (second-largest exchange)
- Okex.com (support multiple trade pair exchange)
- Changenow.io (Instant swap exchange *no ID required)
Some of the exchanges mentioned above may only accept Deposits in Bitcoin, if you don’t have Bitcoin you can buy Bitcoin on Localbitcoins.com.
What is BitTorrent coin?
BitTorrent was acquired by Justin Sun (Tron founder) in 2018. After Justin Sun bought Bittorrent Inc, the biggest and well-known torrent file sharing platform, he decided to create the BTT token which raised $20 million in its ICO.
Bittorrent is fast and easy to download and upload files and that’s why it has grown in popularity.
BTT has seen a huge price increase in the last few months and has attracted many investors to buy BTT. BTT token runs on the Tron blockchain. Tron is a cryptocurrency that was created in 2017, at first Tron was running on the Ethereum blockchain but is now running its blockchain, the TRC-10. The TRC-10 blockchain has a cheaper fee and faster transaction speed when compared to the ERC-20, which is the Ethereum blockchain.
BitTorrent usecase includes:
Increase Bittorrent speed: The BTT token can be used to increase Bittorrent speed, users can make payments in BTT to recieve a faster downloading speeds.
Content delivery system: Users of the BTT platform can advertise their bid and receive or pay Bittorrent tokens to receive content with a faster speed.
A storage platform: Users can pay other users to use their storage and get paid in Bittorrent tokens.
Proxy: Users with a slow internet connection can pay other users to get a faster download or content delivery speed.
The BTT token used to have an airdrop, it gave TRX and BTT holders free BTT monthly for holding BTT tokens.
Buying Bittorrent in 3 Simple Steps
Follow the steps below to buy Bittorrent
Step 1 – Get a BitTorrent wallet
Getting a Bittorrent wallet is a viable way to store your BTT. It’s always a great option to store you Bittorrent on your wallet this way you would have full control over your Bittorrent tokens.
BitTorrent hardware wallet
The Ledger Nano X: The Ledger Nano X is one of the most secure Bittorrent wallets available. The hardware wallet comes packed with over 2000 cryptocurrency wallet include. You can find the Ledger Nano X on the Amazon for a decent price.
Trezor one: Trezor one is a cheaper alternative to store your Bittorrent, it cost $60 on Amazon. It support multiple cryptocurrency and it’s a great wallet to store cryptocurrency.
KeepKey: KeepKey is a popular hardware wallet, it supports BitTorrent and 1000 more cryptocurrency on the market. You can buy KeepKey on Amazon for an affordable price.
Trezor Model T: The Trezor Model T is well known hardware wallet. It supports multiple cryptocurrencies and you would be able to find Bittorrent it on Amazon.
BitTorrent mobile wallet
If you on a mobile device and want to store your BTT safely then this wallet might just be the best for you:
Tronlink mobile: Tronlink is a popular Tron wallet, it also supports BitTorrent and other TRC-10 tokens. You can find the Tronlink wallet on the mobile AppStore and also on the chrome extension.
Exodus mobile wallet: The Exodus wallet also supports BitTorrent and more than 100 cryptocurrency. It is a very popular cryptocurrency wallet, it is a decentralized wallet and your private key is not stored on cloud, which is safe from hackers.
Atomic mobile wallet: The Atomic wallet is a viable wallet option as it supports multiple cryptocurrency and it is also a decentralized wallet. You can store Bittorrent and other cryptocurrencies as well.
BitTorrent desktop wallet
If you on a windows computer, this is the best BitTorrent wallet:
Tronlink chrome extension: The Tronlink can be installed as a chrome extension. If you have the chrome extension installed on your device you can now create your Tron address and receive Tron.
Trust wallet desktops application: The Trust Wallet application can be downloaded on a PC. It supports multiple cryptocurrencies and also supports BitTorrent and Tron. Download the wallet and store your 12 words phrase, with your 12-word recovery phrase you can log in to your wallet account.
2. Locate your BitTorrent (BTT) wallet address
The BitTorrent wallet address can be easily found if you have a BitTorrent wallet installed. If you have a BTT wallet installed search for Bittorrent and click receive. The BitTorrent wallet address can be used to receive Bittorrent from an exchange or someone. Below is an example of a BTT wallet address:
3. Find a Bittorrent exchange
They are many Bittorrent exchanges available to choose from when choosing a Bittorrent exchange you would need to find a legitimate exchange that wouldn’t freeze or steal your Tokens. Here are the the best exchange to buy Bittorrent (BTT):
Cex.io support BTT and is a great way to buy BTT with credit card. You fund you Cex.io with Bitcoin or a credit card. Cex.io is a reputable exchange, they support multiple cryptocurrency and also fiat currency, withdrawal of cryptocurrency can be made directly to a bank account.
Huobi is a well-known cryptocurrency exchange. BTT can be traded on Huobi with a few simple steps: register an account with Huobi.com, fund your account with BTC or ETH and trade Bittorrent. You can easily purchase Bitcoin from localbitcoins.com.
Changenow.io is a cryptocurrency swap exchange that doesn’t need registration to swap coins. You can swap Bittorrent on Changenow.io with Bitcoin or ETH and other cryptocurrencies. If you currently don’t own Bitcoin you can get it on Localbitcoins.com
Okex.com is also a popular exchange to buy Bittorrent, register and account with Okex and deposit in Bitcoin and swap it for Bittorrent any time. If you don’t have Bitcoin you can buy Bitcoin at localbitcoins.com
3. Move the Bittorrent to your Bittorrent wallet
It is always important to move your Bittorrent to a Bittorrent wallet after buying it on an exchange. As they say “not your private key not your coin”
Theirs a list of BitTorrent wallets above
Q. What is BitTorrent coin used for?
The BitTorrent coin can be used to sell and buy speed on the BitTorrent platform, users can earn rewards while providing download speed on BitTorrent.
Q. Is Bittorrent a good investment?
BitTorrent is a very popular cryptocurrency and is a well-known application for Torrent users. BitTorrent coin would likely attract investors in the future as it’s a peer-to-peer file-sharing protocol that allows users to share files in a decentralized manner. BitTorrent price is currently under a cent and has seen a jump in value in the previous year.
Justin Sun who is well known in the cryptocurrency space and the founder of Tron created BTT, it is possible to see a good price action coming from BitTorrent.
Q. Will BitTorrent ever reach $1?
BitTorrent is very popular in the Torrent community and is one of the best Torrent software to use. BitTorrent is fast for downloading files. Eventually, if Bittorrent gets more users and upgrades in the future it would attract more investors and $1 would not be its limit.
BitTorrent is a well-known file-sharing that allows users to share files in a decentralized manner. The BitTorrent coin has quickly gained popularity after it was created in 2019 by Justin Sun. It raised $20 million in its ICO and was sold on Binance immediately after it launched.
Justin Sun, The creator of BitTorrent is well known in the crypto and has more than 2 million followers on Twitter.
BitTorrent may become the next big thing in the crypto world and has many YouTubers talking about it.