Question 1

What is the current price of bitBTC?

Accepted Answer

bitBTC is currently priced at XRP 1,432.63. In the last 24 hours, the price of bitBTC has decreased by -0.00%.

Question 2

What is bitBTC?

Accepted Answer

bitBTC is a derivative cryptocurrency that operates on the Bitshares platform. It is designed as a market-pegged asset, meaning its value is tied or 'pegged' to the value of Bitcoin. As such, it aims to provide the benefits of trading Bitcoin in the Bitshares marketplace, by approximating the price and behavior of a real Bitcoin within the Bitshares ecosystem.

Question 3

Who created bitBTC?

Accepted Answer

bitBTC, like other assets in the Bitshares system, was introduced by Daniel Larimer. Larimer is a software programmer and entrepreneur, also known for creating delegated proof-of-stake (dPoS) and decentralized applications (dApps) like Steemit and EOS.IO. However, the wider Bitshares community maintains and governs the bitBTC asset.

Question 4

How does bitBTC work?

Accepted Answer

In the Bitshares platform, bitBTC works similarly to how traditional cryptocurrency works, but with a few distinctions. When bitBTC is created within Bitshares, it doesn't require actual Bitcoin to back it up. Instead, it is backed by Bitshares (BTS), and its value is tied to the current market price of Bitcoin. This allows traders in the Bitshares marketplace to trade Bitcoin values directly, without needing to move actual Bitcoin in and out of the marketplace. bitBTC is collateralized by at least 2x the value of Bitshares, ensuring its stability and reliability. If the BTS value falls, bitBTC holders can be liquidated in order to maintain the validity of the system.

Question 5

What makes bitBTC unique?

Accepted Answer

The unique aspect of bitBTC lies in its hybrid system of a decentralized BTS platform while being pegged to the price of Bitcoin. This system attempts to provide the best of both worlds: the speed, low cost, and scalability of Bitshares transactions, and the strong market value and recognition of Bitcoin.

Question 6

What are the essential metrics of bitBTC?

Accepted Answer

The market capitalization rank of bitBTC is #1 with a market cap of XRP 47.3K. It has a circulating supply of 33.0 and a total supply of 33.0. The 24-hour trading volume of bitBTC is .

Question 7

Where can you buy bitBTC?

Accepted Answer

bitBTC can be purchased on any of the  that support Bitshares assets. As always, it is crucial to use reliable and trustworthy exchanges when purchasing or trading cryptocurrencies.

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