What Is Bitcoin BSC?
In its early days, Bitcoin was a relatively obscure phenomenon, appreciated only by a few programmers and students. Stories such as a Florida man exchanging 10,000 BTC tokens for two large pizzas are now a part of the folklore.
Over a decade later, Bitcoin turned out to be a golden ticket to generational wealth for those lucky enough to get in early. It is extremely unlikely that BTC investors today would see anywhere near the returns of Bitcoin’s all-time 2,620,000% rally.
However, the new stake-to-earn project Bitcoin BSC project is turning this disappointment into an opportunity – the $BTCBSC token is priced at Bitcoin’s 2011 price of $0.99 while offering similar growth prospects.
Investors have been quick to realise the potential of the Bitcoin BSC project, as more than $200K worth of tokens were already snapped up within just 3 days of its presale phase launch.
After all, the success of other Bitcoin clones such as BTC20 and BTC 2.0 is still fresh in the minds of crypto enthusiasts. Furthermore, the new Bitcoin BSC token offers even more promising growth prospects, thanks to its flexible BEP-20 design and its highly lucrative staking rewards.
However, the BTCBSC presale has a soft cap of $3.96 Million and a hard cap of $6.063 Million. Thus, investors have a limited opportunity to purchase the token at a cheap price of $0.99 before it skyrockets after launch.
BTCBSC Staking
Due to its $500 Billion market capitalization, Bitcoin is strongly correlated to the broader equities market. As a result, the worsening macroeconomic outlook is taking a heavy toll on its short-term growth prospects.
Despite last night’s 1% rally, experts believe that BTC could plummet to $20,000 due to the growing threat of a recession and another interest rate hike.
On the other hand, Bitcoin BSC’s on-chain staking mechanism would allow retail investors to generate attractive passive income despite the bearish market outlook.
Bitcoin BSC’s staking pool is currently offering an over 2000% APY, with over 118K tokens already staked. While the APY percentage goes down as more tokens are staked, it would still be higher than the rewards offered by leading networks like Solana and Cardano.
Token holders will receive these rewards every 10 minutes and the amount will depend upon their share in the staking pool.
Bitcoin BSC’s staking mechanism also quells any fears regarding a potential pump-and-dump action after the token’s launch. 61% of the entire $BTCBSC supply has been reserved to distribute staking rewards – these 14,455,000 tokens will run out around the same time when the last Bitcoin will be mined in the year 2140.
Interested investors can already start to stake their tokens, even during the presale, to reap the maximum rewards. However, they would need to use BNB or BEP-20 USDT to purchase the token – investors using ETH or ERC-20 USDT will only be able to earn staking rewards after the completion of the presale.
Binance Smart Chain Advantages
The Bitcoin BSC token is built on the BNB Smart Chain, which is much faster and cheaper than Bitcoin and even Ethereum on which other clones like BTC20 have been built.
The difference between Bitcoin and BTCBSC is that while Bitcoin transactions typically require over 10 minutes to achieve finality, the BTCBSC transactions are completed within 5 seconds.
Similarly, Bitcoin BSC transactions cost less than 10 cents, as compared to Bitcoin transactions which can charge anywhere up to $10 in additional fees.
The Bitcoin BSC project also uses the proof-of-stake consensus mechanism, which consumes significantly less energy than Bitcoin’s proof-of-work, making it much more clean and eco-friendly.
Is Bitcoin BSC Legit Or A Scam?
The developer team behind the project has also taken strong steps to ensure the security of investors’ funds. A smart contract audit, performed by the Coinsult security company, revealed no vulnerability or centralisation risks, protecting investors from any potential rug-pull.
Furthermore, the BEP-20 design of the token ensures that investors can trade and store it using familiar crypto applications like MetaMask or Trust Wallet.
Based on passing its audit and being featured on some of the top crypto news sites, including Cointelegraph and NewsBTC, we rate Bitcoin BSC legit.
Here’s the simple breakdown
- Transaction Speed: Bitcoin transactions can take around 10 minutes to confirm. BTCBSC transactions are almost instant, taking less than 5 seconds.
- Transaction Fees: Bitcoin transaction fees range between $5-$10. With BTCBSC, you’ll spend less than 10 cents per transaction. A significant difference is if you’re making frequent trades or transactions.
- Staking Rewards: BTC lacks an on-chain staking mechanism. BTCBSC fills this gap by offering highly high APYs for staking. As previously seen, early adopters are seeing APYs of over 49,000%.
- Environmental Concerns: Bitcoin has been criticized for its high energy consumption. BTCBSC is more energy-efficient due to its PoS mechanism.
- Flexibility for Future Development: BSC can run applications, opening doors for BTCBSC’s future functionalities.
