After the creation of the main cryptocurrency, Bitcoin, other alternative coins gradually began to appear, copying its main concept. These coins are called altcoins. One of them is Bitcoin BEP2 or BTCB crypto.
Although it looks like the world's main cryptocurrency by name, it actually does not have much in common with it. First of all, it should be said that it is not a cryptocurrency, but a token. Its price is directly linked to the price of Bitcoin - it is 100% secured by the same amount of BTC in the public reserve address. In addition, according to the rules of the cryptocurrency world, this address is completely transparent for anyone to check at any time.
That's why Bitcoin BEP2 is in demand among those who want to make money from crypto trading.
Bitcoin BEP2 is based on the Binance blockchain, the world's leading blockchain ecosystem. To understand how it works, let's first look at the set of rules and criteria that go into it.
BEP-2 (Binance Chain Evolution Proposal 2) is the technical standard used to produce and sell tokens on Binance. Due to the speed, security, and performance of transactions, many assets have started to create their tokenized counterparts on Binance Chain, moving from Ethereum, Neo, and other chains. Today, this blockchain is already considered one of the most popular and supports several hundred assets.
What are the advantages of the BTCB coin?
The ability to trade Bitcoin even if it is hosted on another blockchain.
Millions of users trust Binance and are willing to place their Bitcoins on this platform to get access to faster and more efficient Bitcoin BEP2.
A high degree of transparency, allowing check reserves at a convenient time.
Active support for developers who want to move their assets to the Binance blockchain.
As already mentioned, the BTCB price is connected to the price of Bitcoin, which means, firstly, it is the highest among other tokens, and secondly, it has very high volatility. In addition, any sufficiently significant events on the world stage can affect these numbers.
Bitcoin, and with it BTCB, reached its all-time high on November 9, 2021, rising several tens of thousands of dollars. However, as of January 2022, its price is gradually decreasing and is now equal to almost half of its maximum price. The main reason for this drop is the US Federal Reserve's monetary policy: the regulator announced a consistent increase in interest rates, which, in turn, has a negative impact on high-risk investments, such as cryptocurrencies. Also, the reason for the fall of the cryptocurrency market can be called the fixation of profitable positions by large investors.
BTCB token is not mined like any other token. For this reason, it can be purchased on cryptocurrency exchanges. To automate the purchase and sale, for example, the use of crypto trading bots, we suggest using our automated platform for trading cryptocurrencies.
indusCrypto is a platform that allows you to start trading and investing in cryptocurrencies without much effort. You can trade on your own with our advanced trading terminal or create a fully automated trading with the TradingView bot and make money without any special knowledge. In addition to trading automation, indusCrypto also uses advanced crypto copy trading technology, which allows you to invest in cryptocurrencies with professional traders, taking advantage of their expertise.
In conclusion, we can say that bitcoin tokenization on various blockchains is a very popular topic right now, which is why this token is in high demand. Its price is always as close as possible to the price of the underlying asset, in addition, each coin is secured with real Bitcoin, which is easy to check with a blockchain explorer.