Bitcoin BSC, a BEP-20 version of Bitcoin that offers staking rewards for investors, launched its token presale yesterday and raised more than $20,000 within a matter of hours.
The project offers early investors a chance to buy BTCBSC at only $0.99, a price Bitcoin last touched back in 2011.
BTCBSC is the latest in a string of so-called ‘Bitcoin clones’ that have often outperformed Bitcoin itself in the short term for traders. BTC20, an ERC-20 version of Bitcoin, recently achieved a 688% return on its presale. Another Bitcoin clone, BTC 2.0, delivered a 538x return for investors before seeing a price correction.
By comparison, the price of Bitcoin itself is down 11.3% over the past month. Excitement over a potential spot Bitcoin ETF caused the price of BTC to rise to $27,700. However, that price support has waned significantly as the SEC signaled it plans to slow-walk any ETF approval.
Bitcoin BSC issues staking rewards every 10 minutes
The project’s website describes how Bitcoin BSC is fundamentally different to Bitcoin in two ways.
First, it’s built on Binance’s BNB Smart Chain, which supports proof-of-stake mining. That leads to the second key difference: Bitcoin BSC offers staking rewards.
Investors in BTCBSC can stake the token to validate transactions on the blockchain and earn rewards without traditional Bitcoin mining. The token is structured so that new BTCBSC rewards are released every 10 minutes, on the same schedule as Bitcoin block rewards.
Staked tokens are locked for 7 days. The reward investors receive is proportional to how many tokens they have staked out of the entire staking pool.
The ability to stake BTCBSC changes the incentives for investors in this token. They can profit not only from the price of BTCBSC increasing, but also from holding and staking BTCBSC and earning token rewards.
Sixty-nine percent of the total BTCBSC token supply has been set aside for staking rewards, ensuring that there are enough tokens to continue rewarding investors for 120 years. BTCBSC rewards will cease around the same time that Bitcoin is fully mined out.
BNB smart chain offers fast, low-cost transactions in BTCBSC
Another important advantage for BTCBSC is that the BNB Smart Chain offers extremely fast and cheap transactions. It’s faster than not only the Bitcoin blockchain, but also the Ethereum blockchain.
This makes BTCBSC a potential alternative to the ERC-20 Bitcoin clone BTC20. Whereas investors can transact BTCBSC for an estimated $0.10 on BNB Smart Chain, transactions in BTC20 on the Ethereum blockchain can cost up to $10.
BEP-20 tokens like BTCBSC are also widely compatible with dApps, including decentralized wallet apps like MetaMask and Trust Wallet. That makes it easy for investors to buy and sell BTCBSC, including during the presale. Presale investors can purchase BTCBSC on the Bitcoin BSC homepage using ETH, BNB, or USDT.
Bitcoin BSC presale promises fair launch at $0.99 price
The Bitcoin BSC presale, going on now, offers investors a limited-time chance to lock in BTCBSC at a price of only $0.99. That’s nearly the same price at which BTC20 launched before delivering a 7x return for investors.
The total supply of BTCBSC is 21 million tokens, the same as for Bitcoin. The presale will make 6,125,000 tokens available for purchase, while the remaining 14,455,000 tokens are reserved for staking rewards.
At launch, BTCBSC will have a market cap of $6,063,750. That’s nearly 100,000 times lower than the market cap of Bitcoin, illustrating just how much room this new token has to run after it hits exchanges.
Investors can check out the Bitcoin BSC whitepaper or follow the project’s Twitter and Telegram accounts for the latest presale updates and roadmap progress.
The presale has a soft cap of $3.96 million and, based on the performance so far, it could sell out quickly. Once the presale sells out, the team behind Bitcoin BSC plans to launch the token on a BNB Smart Chain-based decentralized exchange.
Take part in the Bitcoin BSC presale, powered by Web3Payments, at bitcoinbsc.io.