HitBTC is one of the oldest and most advanced cryptocurrency exchanges in the world. Founded in 2013, it operates out of Hong-Kong (owned by Hit Solutions Limited) and Chile. It used to have a Japanese office as well, but that branch was shut down because of new local regulations. It’s expected to open again in the near future.
HitBTC offers 491 different cryptocurrencies in more than 800 trading pairs, and its longevity has made it one of the most important platforms for crypto in the world. Besides its longevity (2013 is ancient history when it comes to cryptocurrencies), the platform is available in many countries all over the planet and it’s made a name for itself regarding reliability and security.
It’s a 100% crypto-crypto exchange, which means that you can’t use any fiat money to buy tokens or link a bank account or a debit card of any kind. But this is how most of the biggest cryptocurrency exchanges in the world work, so that’s not much of a surprise. The exchanges that allow trading in fiat currencies are still not more than a handful.
BitTorrent’s happy Valentine at HitBTC
The reason for us to introduce HitBTC to you in this article is quite simple. As of last Valentine’s day (Feb 14th), the company is listing the BitTorrent Token (BTT) in several trading pairs, especially against Bitcoin, Ethereum and USDT.
— HitBTC (@hitbtc) February 14, 2019
This is very good news for the Tron network and its subsidiary, BitTorrent. It means that the recently launched cryptocurrency known as BTT is quickly gaining acceptance in many markets all over the world and will be readily available for trade in some of the most influential exchanges.
As you probably know already, nearly every blockchain network in the world includes (or needs) a cryptocurrency to keep the network going and to incentivize the creation of new blocks for the chain.
BitTorrent is not a blockchain network just yet, but it’s been the world’s largest decentralized network for years. Not too many months ago, Tron bought it and then announced that it would turn it into a blockchain network. Part of Tron’s blockchain network, as a matter of fact, and as such the BitTorrent network would issue a new Tron-based digital asset called BTT.
Project Atlas’ new coin
The merging of Tron and BitTorrent (called “Project Atlas”) has not been completed yet, and both networks remain independent. But it’s expected to happen over the next few months. That will make Tron the world’s largest blockchain by far, even surpassing BitCoin at least regarding users, if maybe not in value.
BTT is not supposed to become a retail currency as many other altcoins, but the means to incentivize users in the BitTorrent network to keep the network’s decentralization going on by sharing their files, bandwidth, and resources for longer periods of time in exchange for passive income in the form of a Tron-compatible cryptocurrency.
But that’s just the beginning. BitTorrent will become a blockchain of the third generation in the full sense of the expression so, soon, it will be able to run decentralized applications and smart contracts, just as Tron does. As that new stage comes to fruition, the use cases for BTT will multiply quickly.
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.