Bitcoin’s price is struggling, a new, scalable alternative, Bitcoin BSC, is quietly brewing a storm after raising $30K in just over 24 hours.
It is a new cryptocurrency tackling several of Bitcoin’s main issues. All while rolling back time to 2011 when Bitcoin’s price was just $0.99.
Bitcoin BSC is built on the Binance Smart Chain (BSC). Making it interoperable with other BSC dApps and enabling users to buy it from an Ethereum Virtual Machine (EVM) wallet like MetaMask or Trust Wallet.
Another issue it solves is Bitcoin’s energy consumption issue. Bitcoin utilizes a Proof-of-Work consensus mechanism and “mining” for users to earn rewards. However, this relies on using significant energy to secure the network.
In contrast, Bitcoin BSC has opted for Stake-to-Earn, a significantly more energy-efficient mechanism requiring almost zero user technical know-how.
Besides being more energy efficient, Bitcoin BSC’s staking mechanism will give holders an effortless way to earn a yield on their holdings. This is free of the cost and complexities associated with mining.
The annual percentage yield (APY) that stakers will receive depends on the total amount of $BTCBSC deposited in the project’s staking pool. However, BTCBSC’s price will likely increase as more tokens are deposited due to the growing scarcity.
Despite the token being yet to launch, the staking feature is live. Holders can begin earning yield immediately after buying the presale.
You can track the total $BTCBSC staked in real time from the Bitcoin BSC staking dashboard.
The idea behind the staking mechanism is to reduce BTCBSC’s sell pressure and incentivize holders. This could bolster the Bitcoin BSC’s long-term price potential.
Bitcoin BSC has the same total supply as Bitcoin at just 21 million. Bitcoin’s astronomical rise in price is due to its scarcity, which Bitcoin BSC’s tokenomics share.
Furthermore, in typical Bitcoin fashion, Bitcoin BSC will be 100% community-owned, with 29% of tokens available at the presale, 69% earmarked for staking rewards, and the final 2% to exchange liquidity.
Bitcoin BSC’s presale will occur in two stages, with 4 million tokens available in the first stage and 2.125 million sold in the second. Both stages will take place at Bitcoin’s 2011 price of $0.99. Also, if some of the allocated tokens are not sold at the presale, they will be added to the 120-year staking rewards unlock schedule.
As well as providing a significantly cheaper version of Bitcoin with several advantages, Bitcoin BSC’s single-priced presale aims to encourage community bonds and sustainable price action after its initial exchange offering.
Moreover, since it is built on the Binance Smart Chain, investors can buy less BTCBSC without paying high gas fees. This means you could buy 50 BTCBSC for less than $50 and enjoy gas fees of less than $1.
Following the presale, Bitcoin BSC will go live on PancakeSwap. However, 100% of the current tradable supply will be sold in the presale. This will likely lead to a low supply and increasing demand immediately after the presale, potentially bolstering the price.
Bitcoin’s price has struggled recently, down -2.3% in the last three months; meanwhile, several alternatives have boomed. For example, Bitcoin Cash (BCH) is up 73% in the same period.
Also, another Stake-to-Earn Bitcoin alternative, BTC20, recently pumped 7x following its presale.
However, Bitcoin BSC boasts several advantages compared to other Bitcoin alternatives.
Besides its super low price, Bitcoin BSC offers technical advantages regarding being built on the Binance Smart Chain. For example, BSC provides cheaper and faster transactions than the Ethereum chain, which is the chain on which BTC20 was built.
Furthermore, its Stake-to-Earn mechanism could make it a favorite among environmentally conscious investors seeking exposure to a “sound money” cryptocurrency.
Bitcoin BSC has also received an audit, linked on bitcoinbsc.io for investors to read. That ensured the project’s smart contract is safety compliant and can defend against malicious activity.
However, with BTC20’s speedy presale sell-out and the fact that investment in the BTCBSC presale is quickly ramping up, investors must be quick to secure their presale tokens.
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