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Comparing Bityard and eToro in 2021

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When it comes to crypto trading, choosing the right trading platform is just as profound as discovering a successful trading strategy. However, with so many trading platforms available on the market, deciding which platform to choose can seem like a nightmare. This article will compare two trading platforms, namely Bityard and eToro. The platforms will be compared on the basis of the most important metrics that users use to decide on which platform to use.

bityard v etoro 1

What is eToro?
Etoro was founded in 2007 as a forex trading platform. It has evolved over the years to include stocks, derivatives, CFDs, and cryptocurrencies. It has a global reach, servicing over 17 million users in 140 countries. It is a multi-national licensed company, with licenses in countries such as Israel, UK, USA, Australia, among others.

eToro web interface

etoro interface

What is Bityard?
Bityard is a contract trading platform with crypto assets and derivatives. It was founded in 2019. So far, it boasts of over 100,000 registered users in over 150 countries across the globe, making it one of the fastest crypto trading platforms in the world. It is headquartered in Singapore, and has multi-national licenses from Estonia, Singapore, USA and Australia.

Bityard web interface

bityard interface
  1. Layout and user interface

The Bityard website is easy to navigate, staying true to Bityard’s mantra of designing a platform that simplifies complex trading. Which makes it user-friendly, regardless of the experience level of the trader. Traders have the option of trading via the website or the app version available for both Android and iOS. The website and the app provides similar features. There are many similarities between the eToro and Bityard platforms.

However, the Bityard website has more charts, technical analysis tools and a customizable viewing panel. Similarly, the Bityard app is easier to navigate as most features are easier to find. The eToro platform is loaded with more features such as newsfeeds and market research, which are harder to find for a newbie. A little tutorial might be necessary for a new user to find their way around the eToro platform.

2. Opening an account

Both EToro and Bityard require one to be registered in order to be able to trade on the platform. It takes just a few seconds to open an account. Bityard has the option of opening an account using either an email or phone number, while eToro gives the option of email, Facebook or Google. You will receive a confirmation code that you will use to complete the registration.

Once that is done, your account is ready to use. However, there are limited functionalities for
accounts that have not verified their identity. For both platforms, users who have not completed top tier levels of KYC have limited access to the platform’s features. EToro goes further as to make some features available only to users who have made their first deposit to their account. A minimum deposit of $200 is required on eToro. Bityard offers commission on referrals. On Bityard, a user can earn up to 60% of commissions on trading fees from referrals.

  1. Trading experience
    As already mentioned, Bityard seeks to simplify trading. “Complex contracts simple trade”
    appears on the first page of their website. True to that slogan, the trading experience on Bityard is seamless. There are 33 crypto assets with 19 trading pairs, and many derivatives ranging from stock market indices to precious metals. Although Etoro has only 16 crypto assets, it has hundreds of stocks, ETFs, indices and currency pairs.

Funding a Bityard account can be done through cryptocurrency and fiat. Unfortunately, fiat deposits for Bityard are only available in certain regions at the moment (Vietnam, Indonesia, and China). There are plans to extend the service to more countries. On the other hand, eToro only accepts funding via credit/debit card.

Bityard and eToro both have a demo account which allows a user to try out real trades with fake money. Both platforms also have the CopyTrade feauture which allows users to copy the positions of more experienced users on the platform.

  1. Fees
    Bityard has lower maker/taker fees, charging 0.05% of the transaction. For withdrawing, 2
    USDT is the charge on Bityard. Etoro’s trading fees vary by asset; it ranges from 0.75% – 5%. The minimum deposit that can be done is $200, while the minimum trade amount is $25. Etoro charges trading fees through spreads, which can rise and fall depending on market conditions. The withdrawal fee on eToro is $5.
  2. Security
    Both platforms have put up measures to enhance the security features on the platform. Every new login is authenticated by 2FA. Both platforms have PIN authentication for withdrawals. Bityard stores the crypto assets in cold storage, which protects them from hackers. The Bityard websites also has full SSL encryption, making all connections secure.

Conclusion
In this article, Bityard and eToro have been compared on different aspects. In terms of size, eToro has shown to have a bigger user base and wider selection of non-crypto assets than Bityard. However, Bityard has more crypto assets to trade. Ease of registration is somewhat similar on both platforms, even though it is much easier to register on Bityard because a new user can enjoy the full features of the platform without first making a minimum deposit.

Furthermore, the layout and user interface on Bityard has shown to have more superior features, hence giving a better trading experience. The welcome bonus and higher referral rewards on Bityard also make it a more attractive platform. Bityard’s trading fees are also comparatively lower than eToro’s. When it comes to security, both platforms have demonstrated their high regard for enhanced security, which is amazing.

Here’s How XSL Labs Aims To Revolutionize Digital Identity

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Personal data has been a subject of manipulation for years. In the last three decades, specifically, one of the major concerns that have driven users up the wall was the loss of control. In this day and age, data gathering and privacy protection in the online realm are ubiquitous and none of the two can be compromised. 

Corporate giants and free apps have taken over individual identities. The main concern that has given these entities the power over an individual’s personal data is the lack of awareness about the use of the information in question.

Enter, the ambitious French blockchain project called ‘XSL Labs’

In a bid to hand the ownership of personal data back to the people, XSL Labs has pioneered to create an ecosystem that guarantees online trust through the means of a decentralized solution called SDI (Secure Digital Identity) that leverages blockchain technology.

Headed by CEO George Tresignies aka “Slash Coin”, the team of XSL Labs essentially consists of 16 people working on the development of the project. The French startup has come a long way since its official launch.  

The two things that XSL Labs plans to tackle are:

  • Low security 
  • Dispersion of personal data online

Secure Digital Identity (SDI) solution

The Secure Digital Identity (SDI) solution is a set of data managed exclusively by each user to permit digital identification that is being developed by the XSL Labs team. Based on blockchain technology, SDI will be able to act as a trusted digital passport in the days to come.

It is constructed in a way so that it contains a private and a public key and the combination of these two keys is what guarantees its holder to remain in full control of his/her identity. Furthermore, all the personal data that is integrated into the SDI solution is secured by a cryptographic encryption which is then stored in a distributed decentralized blockchain-type ledger. 

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SDI also enables the user to decide at any time to close his/her SDI making the data inoperative and inaccessible unless a third party has an unrestricted right of access to the data contained therein.

The solution is generated by “smart contracts” that shape the entire life cycle of each SDI, from Creation, Modification to user rights agreements. In other words, smart contracts will basically guarantee the non-use of personal data without the user’s consent. In addition to that, it will

allow the SDI holder to prohibit or authorize the reading of the data making up his/her identity.

With this, the third party entities will not be able to edit the SDI and will only have temporary reading rights of the data it contains. Furthermore, they will only be able to read the data specifically authorized by the user. 

SYL Token:

This is where the SYL token comes into the picture. The SYL will be used as gas, which will be isolated at the moment of creation or modification of the smart contract. 

The first phase of the ICO for the token was a success which made it possible for the platform to distribute 1 billion SYL. As it finalizes its ICO phase that began last year, the SYL token is set to be issued by the first quarter of 2021.

Some of the SYL use cases are: The monetization of personal data. Given the intrinsic properties of data as economic goods, and with the ever-mounting scrutiny on data privacy, monetization seems like a distant dream. But monetization of personal data is one of the main use cases of the SYL token which will act as the vehicle of exchange, purchase of services, and execution of smart contracts in the SYL Ecosystem. 

Apart from being a means of transfer of value, ie., a utility token, SYL will enable the purchases of services from the XSL Labs ecosystem and of DApps available on the SYL Library. It will allow the purchases of services on the XSL Labs ecosystem, and in the creation and management of smart contracts as well as the remuneration of the verifiable credential emitters.

0.25 SYL (250,000 syloshis) per creation of SDI (these SYL will come from the escrow of XSL Labs)

Zooming out, SDI solution aims to limit the dispersion of a person’s online data while simultaneously increasing the security aspects. All this while also allowing individuals to regain control over their personal data.

SDI – A decentralized identifier 

To dive deeper, it is imperative to understand that DID (Decentralized IDentifier) is a unique address that allows access to a document, called the “DID Document”. The DID used in the XSL Labs project is the Secure Digital Identity (SDI). In short, the SDI is a decentralized identifier used to obtain a “DID Document”.

Bololex Ups Ante as BOLO Token and Airdrop Wheel Continue to Make Waves in Cryptocurrency Market

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The cryptocurrency industry has come a long way from the days of light trading with the ecosystem brimming with investors and opportunities. In the midst of this constant flux of developments, cryptocurrency organizations have been trying to keep things interesting by providing new features and improvements.

One of the companies enjoying their time in the limelight is Bololex, a popular cryptocurrency trading platform. Bololex operates under the tagline of “Instant and unlimited trading for everyone” with its officials striving to engage the market alongside the latest offerings.

Bololex was launched in May 2020 with the aim of providing a safe and seamless cryptocurrency trading environment. The Russia based exchange has targeted users across the globe but a large concentration of its base resides in the United States and Brazil. Bololex prides itself on the intense security procedures it follows, an aspect that has become increasingly important in the digital asset world. 

Users on Bololex may opt for non – mandatory KYC submissions and carryout their trading requirements. According to the company, non-mandatory KYC submissions make it easy for users to conduct instant transactions. Customers can be assured that their capital is safe and sound, as Bololex follows two-factor authentication protocols and reduces the risk of attack. Bololex is also known for its airdrops, which it conducts in interesting formats.

In August, users on the platform were in for a pleasant surprise when it announced the launch of the Bololex Airdrop Wheel. The feature has its eyes set on gamifying a common feature so that the company can attract new users to its fold. The airdrop wheel works in a very simple way: a registered user spins the wheel on the screen and whatever gift lies on the fallen sector of the wheel goes to the user. Its popularity was complemented by Bololex’s co-founder who said:

“Airdrop wheel is a unique feature,it redefines the concept of free airdrops. It is both fun and engaging experience.”

Bololex’s surge in popularity can also be owed to the BOLO token, which has been making waves in the cryptocurrency industry. The BOLO token is based on the Stellar Lumens blockchain with a total supply of 10 billion tokens. With a focus on the gamified voting system, the BOLO token serves as a utility token on the Bolonex exchange and ecosystem. Reports also suggest that the BOLO token will also play an important role in a proposed Bololex loyalty program. Sources close to the company have said that the token launch as well as the airdrops will act as important stepping stones towards large scale adoption. 

Ledger Nano X – Hardware Wallet – Review, Walkthrough and FAQs

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TLDR:

  • Ledger Nano X is extremely portable hardware wallet with its in-built battery
  • Upgraded user experience; wider screen and better support
  • Can run up to 100 apps and supports 1100+ tokens
  • Nano X is great for pro traders, Nano S is sufficient for holders
  • Although it costs more than Ledger Nano S the extra $60 is worth it
  • Setup: 5/5 || UI/UX: 4/5 || Token Support: 5/5 || Security: 5/5

Specifications:-

Dimensions [cm]  7.2 x 1.86 x 1.18
Weight 34 g
Connection USB-C and Bluetooth
Inputs Two buttons
Battery 100 mAh Lithium-ion
Device Compatibility 64-bit desktop PCs – Windows 8+, macOS 10.8+, and Linux*
Tokens 1100+
Applications 100

If you’ve never owned a crypto hardware wallet it is perhaps high time you realize the importance of the saying “not your keys, not your coins”. Even though cryptocurrency exchanges are taking “world-class”, “high-end”, “advanced” security measures to protect your assets at the end of the day exchanges are CENTRALIZED. Even if you’re taking precautions and storing cryptocurrencies on decentralized exchanges or “trustworthy” hot wallets there’s a high amount of risk and chances of you losing your assets under malicious attacks.

The best way to be safe about your assets is to store in cold wallets, offline. The only risk here is for you to be dumb enough to tattoo your private keys on your wrist or throw away your hardware wallet without memorizing the recovery phrase. Nevertheless, if you know your private key and seed your funds can always be retrieved if you lose your wallet, or if it’s stolen you can always sweep your key and get the bread back. 

Amidst the global chaos, today, I finally got my hands on my Ledger Nano X – ever since its release last year, I was pretty intrigued and wanted to buy one. Better late than never, here’s a walkthrough review of the product. 

inside ledger scaled e1588220923894
Inside the Ledger Nano X box

The Set-up

Step 1: To set Ledger Nano X you need to download Ledger Live on your PC/Smartphone. After downloading the app, you will get an option to select your respective device. 

#LedgernanoX

Step 2: After selecting your device you will receive a couple of options:-

  • Set up as a new device
  • Restore the device from the recovery phase
  • Skip device setup

Since my Ledger Nano X is new I went with “Set up as a new device”. You can select according to your own requirements. 

Step 3: The next step requires you to set your pin-up. The Ledger live application has an extremely smooth onboarding process and will guide you through it. 

[Note: Save your PIN in a safe space.]

Step 4: Ledger Nano X will walk you through your seed recovery phrase. Followed by instructions asking you to save the phrase.

[Note: Save your seed recovery phase this helps you to recover your assets if you lose your hardware wallet] 

Step 5: Ledger live will walk you through a couple of security checks to make sure you’ve saved your seed phrase. 

Step 6: Turn on your Bluetooth and pair your set up the device with Ledger Nano X. 

Step 7: Further, you will be asked for a “Password Lock”  in case someone comes across your PC/Smartphone and tries to access your funds. 

Step 8: It’ll ask you for permission, read carefully, and select accordingly. 

And, Voila!
#Ledgernanox

The Setup is super easy and took me less than 2-3 minutes to get done. 

The Exploration 

Ledger Nano X supports 1000+ cryptocurrencies and covers most of the top-ranked coins. For every cryptocurrency, you want to store in your ledger you have to install its respective application. 

I hold BTC, ETH, XRP, EOS, TRX, XLM, ADA, MIOTA along a few scam coins I bought as a newbie in 2016/17.

But for testing purposes, I tried sending 500 TRX to my Ledger Nano X. 

#Ledgernanox

The process was seamless and took me a few minutes to transfer my funds, the interface was impressive considering the low standards of UI/UX in this space. 

I wanted to explore the wallet but as much as I wanted to open it up to see the chips I knew there was a possibility I wouldn’t be able to pack it up.

Ledger Nano X has two chips much like S. The element chip [ST33J2M0] protects your private keys while other is a dual-core MCU with wireless support [STM32WB55].

tron ledger

One of the reasons why I was pretty hesitant to get a Ledger Nano X is Bluetooth. 

BlueTooth makes your device vulnerable and prone to attacks. To secure the device from hacks, it has been designed with a number of measures including hiding electromagnetic radiation and power usage that cancel out the chances of side-channel attacks. Even if your PC/Smartphone or BlueTooth or MCU gets compromised the secure element will always prompt you to verify the transaction with its original details and no transaction will go through without explicit consent.

You can even check out their official blog post to understand their security measures better.

Since Nano X has a battery and doesn’t need a USB  connection to run it they best and only viable option for it to connect to your operating device is through BlueTooth. Nevertheless, if you do not want to keep your BlueTooth on you can always switch to Nano S. 

FAQS on Ledger Nano X

  • Is Ledger Nano X safe?

Ans: Yes, in my opinion, it is the safest hardware wallet in the space and has a proven track record of cold wallet security. 

  • How do I transfer my cryptos from another wallet to Ledger Nano X?

Ans: Let’s assume you want to transfer some XRP. 

Set up Ledger Live -> Download the XRP app on your device and create an account -> Copy your XRP deposit address from your Ledger account -> Open your primary account from which you want to transfer XRP -> Paste the XRP deposit address on your XRP Primary account to “send” the XRP -> Confirm the transaction [Once done, you will be notified]

  •  Can I remove my assets once deposited in Ledger Nano X?

Ans: Yes, it is extremely efficient and fast as compared to the existing products in the market. Open Ledger Live -> Select the coin you want to transfer -> Enter the deposit address of your destination [where you want to send your asset to] -> Confirm the transaction 

  • Does Ledger Nano X support privacy coins?

Ans: You can check it out HERE on their official website to understand which coins they support. 

  • How to reset Nano X?

Ans: Please make sure you transfer all your tokens/coins to a safe wallet before resetting your Nano X. You can read instructions on resetting your Nano X HERE.

Meet Moon Marketing, the firm focused on merging the gap between the Tron blockchain and gamers

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The dedication of Moon Marketing is to bridge the gap between gamers out there and Tron dApps. How? We hear you ask. The answer is straightforward. By utilizing their DarkMatter (DMX) Gaming Platform and of course, innovative marketing tactics. The blockchain marketing firm launched its Tron-based token DMX last month as well as partnered with TronWeekly (yes with us).

Now yesterday, Moon Marketing managed to attract another cool partner, Aircoins (an augmented reality crypto app). Thanks to the newly-formed partnership, users could use their collected tokens for interacting with the DarkMatter (DMX) ecosystem.

So, as the Tron-focused blockchain marketing organization, Moon Marketing, keeps making waves in the space, we decided to interview them today. Let’s find out all about them.

Please tell us a bit about your background and experience?

Marketing is such a beautiful thing. We feel as though everyone does marketing at some point; rather you realize it or not. Our team comes from a pretty spread out the background.

Weston is currently attending college going after a degree in cybersecurity. Weston has worked in his hometown alongside Rickey helping local businesses market their company and products and showing them how to properly utilize simple marketing tactics and social media to their advantage.

Tahj has been marketing local tournaments to his hometown for years now. He has set up tournaments in both sports and video gaming to helping the local community see the fun in coming together to compete with one another to do the things that they enjoy.

Rickey is a sole proprietor that started a lawn service when he was just 15 years old. He marketed his business from the ground up. Ten years later and the business is doing better than ever. He now also enjoys partnering with Weston to help other businesses in their hometown use the social media and marketing tactics he used to build his own customer base.

Together we formed a team that is very passionate about the Tron community. We plan to use our combined knowledge in gaming, Tron, and marketing to help grow the amazing projects on the Tron blockchain. The ultimate goal: turning the dream of decentralization into a reality.

You said your team has experience in marketing and networking outside of crypto too, how did you meet with crypto and blockchain?

The idea of decentralization thru Cryptocurrency has always intrigued us. We like many others took notice of the most recent bull run. That is when we discovered cryptocurrencies other than Bitcoin (obviously the most well known digital asset) During that process we found the Tron blockchain and the vision Justin Sun had.

We took one look at Tron, and it was like a light switch as it was a cryptocurrency that could most definitely be used in the real world. With the amazing things going on inside the Tron blockchain here we are today.

We now believe that with the potential of this blockchain the decentralization that we once dreamed of is now at our fingertips. We want to do our part in bringing Tron to the world by making the blockchain, it’s projected, and it’s many possibilities both easy to find and well known.

Tell us about how you came up with the idea of Moon Marketing.

As we all came into Tron, we found ourselves looking through many projects and having to hunt down information ourselves to learn about them. We saw projects not only as investments but as visions. As we continued to look into projects on the tron blockchain, we learned that some had amazing real-world use cases and we could see the future potential of those projects.

We felt like our biggest need as of then was a marketing team that could be trusted to sort through the many projects on the Tron blockchain and bring those with promising visions to the Tron community. That is when we started reaching out to Tron projects to offer our assistance with marketing.

After joining a few project teams, we decided we would like to offer our service to the tron community as a whole by creating MOON Marketing. Our goal is to teach not only the tron community but everyone about the many amazing opportunities, investments, and visions that Tron has to offer.

How do you guys access good ICO projects and what is the nature of your relationship with ICOs and investors?

When it comes down to picking a project to run an ICO for, our top priority is making sure the product is of high quality and safe for investors. We want our community to be confident when investing in a product we are backing. This will hopefully come from delivering a consistent level of quality over a period of time.

In your experience, what investor solicitation channels are now the most efficient ones?

This is precisely why we have created Moon Marketing. We feel as though there are very few options as far as a hands-on teams bringing these projects to the community. Think about how you usually find out about a project.

Right now with all the success that many projects have on the Tron blockchain, they have to be spread by person to person messages and the occasional partnership agreement with other channels.

We are here to create a more efficient way to bring the most significant projects to the community in a hands-on the manner in which we study those projects, their visions, and there plan so that we can share them with the community that makes all of this stuff possible in the first place.

What are the biggest challenges when working on blockchain gaming projects?

Ease of access for sure. We know there are tons of people out there that would love to earn monetary value just by playing these games. The challenge lies in reaching these people and making cryptocurrencies easier to understand and adapt.

Gamers are already frequently using forms of digital currencies, from coins in Super Mario Brothers to V-Bucks in Fortnite; they have had plenty of exposure to the concept over the years. In our opinion, this gives gamers a head start when it comes to understanding cryptocurrencies and one of the many reasons we will be heavily targeting them with our marketing efforts.

You recently launched your crypto gaming currency, can you tell us about that in brief?

To keep things short, Moon Marketing will use its most recent project DarkMatter to bring both gamers and users of social media into the wonderful world of crypto and what better place to show and help them see the potential of decentralization than the Tron blockchain.

To learn more, please stop by our Telegram at https://t.me/MOONMarketingfirm

Do you have any major partners you will like to share with us, and what are the benefits of becoming your official partner?

We do have some upcoming strategic partnerships planned to help us to reach beyond the Tron Blockchain; unfortunately we will have to wait for details to finalize to give more information.

We are very excited about our partnership with EMStoken Group. They have several use cases in the works. We help them create strategic marketing strategies. The future of this partnership is very bright, and we can’t wait to show you what our teams have been up to.

We will offer many benefits for the projects we partner with and support including:

  • We will utilize the Moon marketing community to tailor a unique plan around marketing each partners project to their target audience.
  • We grant our partners access to use our Social Media Exchange, where our community can earn precious DarkMatter by adding value and supporting Moon, and it’s partners on social media.
  • They receive access to commercial space during our live Dark Matter Gaming events
  • They will also receive aid with completing a token sale for new dApps or projects trying to reach the community.

What are your future plans or projects?

Growing and supporting Moon Marketing, our token, DarkMatter, and our partners will be our focus for the foreseeable future. We aim to build Moon for many years into a staple of the Tron Blockchain, becoming a platform to reach the best and most exciting projects across the community. You can expect constant updates and communication along the way as we progress forward.

The BitTorrent token, BTT use cases: More than just a reward

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The BitTorrent network has been as controversial and misunderstood as it’s been successful. Now it’s going to become a blockchain network (based on Tron) and that’s just making things more controversial, but it could also make it even more successful.

At the center of this shift from traditional P2P decentralization to the blockchain, decentralization is a new cryptocurrency called BTT and it’s based on Tron’s token technology.

BitTorrent

But we start at the beginning.

BitTorrent brought forward the idea of decentralization years before crypto ever existed. In 2001, to be precise. It began and still is, a 100% decentralized network for sharing files. At the time, there were several of those (eMule, eDonkey, Napster, and several others) but BitTorrent ended up being the sole survivor.

It’s still around and, in some regions of the world, it accounts for 70% of the internet traffic. It’s the world’s largest decentralized network even today, with more than a hundred million total users scattered all over the planet every month.

Tron

Tron is much more recent, it’s not even two years old yet. It’s a blockchain project founded by Justin Sun, that aims to decentralize the web as a whole using cryptographic technology (Tron’s own technology, preferably).

BitTorrent is already decentralized (if not by means of blockchains) and it hosts gargantuan amounts of content. Both projects are aligned in many ways so it wasn’t much of a surprise when the Tron Foundation bought BitTorrent a few months ago.

After that, Tron announced that it will merge Bitcoin into Tron through something called “Project Atlas”. That will see BitTorrent become a blockchain network, and, as every blockchain, it will include a token (BTT).

BTT

So what would be the point in yet another new cryptocurrency? It actually makes sense, keep on reading.

The first (and most obvious) use case for BTT will be to enhance the way in which BitTorrent works. It will incentivize users to keep sharing their content by longer periods of time by allowing them to earn some passive income.

So, if you seed your files for longer, the network will reward you with some digital money. But that just would be the beginning.

Imagine that, as BitTorrent becomes a blockchain, then you can deploy smart contracts, decentralized applications, and websites in a Tron’s subsidiary network. In that scenario, BTT would allow you to participate in those apps and contracts and even develop new ones if that’s your cup of tea.

But there’s another scenario that’s even more interesting. You could actually develop and deploy websites that would run on BitTorrent. You would have no servers, but the sites would be hosted by the decentralized network and not by Microsoft, Google, Youtube, Facebook, or any other of the usual suspects.

Then the new token would allow you to monetize your content directly from users, and for users to pay for the things they really want.

In that context, Tron’s vision of a decentralized web could get started in the next few months instead of the next few years.

The point is: while the first use case can be obvious, there are plenty more that will only become apparent as the network develops. And they could change the way we think about the internet.

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.

Here’s what the BitTorrent token (BTT) hitting HitBTC means

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HitBTC

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.

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.

Duel arrives in TronBet, here’s all you need to know

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TronBet is turning the decentralized application world upside down. It’s become the world’s most important app by trading volume (from 6 to 24 Million USD daily according to dappradar.com), and it’s changing the way in which games and bets are done online around the world.

OK, let’s start at the beginning. TronBet is a decentralized app running on Tron’s network. It’s a betting app that includes three games: dice, moon, and ring. Many features put TronBet in a different league than any other traditional or decentralized betting platform.

For a start, it offers mathematically fair odds to every player. This is anathema in most gaming platforms. Traditionally, the house always has an edge. That’s how it makes a buck by allowing you to play without commissions. The platform’s games are as simple as they are entertaining and they’ve been gaining a loyal userbase very quickly.

So how can TronBet be profitable if it pays fair odds? Well, every prize won pays a 5% “tax,” that’s how it can manage to stay in business and earn some tokens. The good news is that the TronBet team is willing to share the profits with you. That’s why the project includes a Tron-based token called Ante.

Every 1000 TRX you bet at TronBet will get you an Ante token. And holding that coin is going to earn you the right to participate in TronBet’s profits. The more Ante you hold, the bigger your share in the site’s profits. This is an online casino that plays fair and is also willing to reward you for playing via a custom token and profit sharing. This is nothing short of revolutionary in the gaming world, be it traditional or blockchain-based.

And now the platform has increased its product offer by releasing a new game called “Duel.” The new game is an extension of sorts to the previously existing “Ring” (which was released last December 28th). The game is as simple as it is addictive.

You start with a ring-shaped roulette (hence, the name) in which you choose one of four available colors. Then the wheel spins, and a color wins. Then, in the next stage, you make a numerical guess. And that’s it.

Duel is even simpler. You open up a challenge by placing a bet and choosing a color. Then another player in the system can accept your challenge, and play against you for the amount of TRX you placed by choosing a different color. When the duel is set, the system chooses the winner randomly.

There are other new features at Tronbet such as the daily tasks. Every task you complete earns you points, rewards, and you can raise through the site’s levels so just joining the platform becomes something of a game in itself.

The tasks are things that you’ll probably complete anyway at some point like winning 30 times at Dice, or at Moon, or Ring, just to give you a simple example, but there’s a variety of goals to complete.

Joining TronBet is exceedingly easy. All you need is to have a Tronlink wallet (which is a chrome extension) and own a few TRX coins, which are also useful in many other platforms in the Tron network.

So TronBet gives you the chance to play a bit, have some fun, and earn a little passive income by accumulating Ante. It’s very original and convenient which is why it’s one of the world’s top ten decentralized applications.

Image courtesy of Pixabay.

BitTorrent Speed is about to change everybody’s game

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Are you a BitTorrent user? It’s not a rare thing, we’re talking about the world’s largest decentralized network (as we keep writing in many articles you’ll find in this website). So are you the Linux kind of guy? Then you probably use Transmission or Deluge as your BitTorrent clients of choice. If you’re on Windows or Mac then the list of available clients is just endless and each one has its advantages and challenges.

But they all have one thing in common: it doesn’t matter the operating system you use, every client connects you into the BitTorrent network so you can participate in the information exchange that takes place there all the time in industrial proportions. It’s free, it’s quick, it’s reliable. Movies, music, books, software, online courses. All kinds of content are available as torrents. Yes, it’s been controversial at times, but it’s grown and prospered despite huge efforts from several authorities to stop it, at the least, and suppress it for good, at the worst.

The thing is that this is a decentralized network, so it’s like the mythical Hydra. Yes, you can cut one of the monster’s heads. And for each head you cut, three more will grow. Which is why the BitTorrent network has been around for almost a decade and it’s survived every attempt to stop it. It’s shown an amazing resilience because there are just too many users scattered all over the world who enjoy and share the content they get (and provide) from the network.

But if you thought that BitTorrent was too good, hold on. It’s about to get even better.

You may know this already (or not, but if you don’t, that’s why we’re here). The Tron Foundation bought the BitTorrent corporation a few months ago. Why? Because Tron wants to decentralize the web and the content distribution on the internet, and BitTorrent has already been doing that for years.

Tron has a milestone called “Project Atlas” in which the very same torrent network that you already know and love will become a blockchain network that will run over Tron’s Main Net. And that will change the game for everybody.

How will the game change for you? Well, for starters, the BitTorrent corporation will issue a new BitTorrent client called BitTorrent Speed. It will available for you to download and install in the next financial quarter (you can find all about it here: https://www.bittorrent.com/speed/).

This will be the app that will bring BitTorrent into the blockchain world. It will mean further decentralization, higher bandwidths. And even more than that, it will also mean that just by being a BitTorrent user you’ll be able to earn a bit of money. No, really!

If you are a seasoned torrent user you know how it goes. You load the torrent file into your client (or a magnet link) and then you sit back and continue with your day’s activities as your client does the work for you and completes the download. And once the download is completed you become a seeder instead of a leecher (standard BitTorrent vocabulary).

And you would also know that there is not much of an incentive to keep seeding the content once you have it. Why? It takes some of your bandwidth and resources to share it so the cheapest thing to do is just to remove your finished torrent from the network once you have it. Well, now you’ll have a good reason to keep it online for other users to download.

Once Tron completes the BitTorrent integration with its blockchain, users will get rewarded for seeding with a new cryptocurrency called BitTorrent Token. It’s a Tron-based token that you can take to any of the Tron decentralized exchanges and turn it into TRX to use in Tron’s decentralized applications, or even just save it and exchange it for Bitcoin or any other cryptocurrency you can fancy. And yes, you’ll even be able to turn it into your local fiat currency if you so wish.

And that will all start with the BitTorrent speed new client. So keep an eye out to see how this story develops, if you like your torrents it will only be great news for you!

Image courtesy of PixaBay.

Tron monthly performance report: TRX during January 2019

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Tron’s growth has been just amazing since it launched its new Main Net last May. Many milestones have been announced by Tron’s leadership, and each one has been delivered in time and working perfectly.

That’s not the rule in blockchain projects in which many milestones are delayed (just think about Ethereum’s Constantinople update which was delayed for weeks, just to give you the latest example, but they’re many more) or deployed without proper testing.

And Tron’s new achievements over the new year’s first month have been every bit as impressive as they were for the previous seven months. Let’s review them.

As we write this, five of the world’s most important decentralized apps are Tron’s (the other five are EOS’s so between those two Ethereum graduates, they’re leaving Vitalik Buterin’s network and technology in the side of the road) according to dappradar.com which you can check for yourself if you’re so inclined.

And that’s just the beginning. TronBet has been the dApp that’s processed the most (crypto) money flow in the world by far, it’s gone north of 24 million USD some days over the month. And that’s one of the many reasons that could see Tron deliver on the promise of being “The Ethereum killer”.

But there’s more.

If you’re updated on cryptocurrency markets, then you’ll know that the market has lost about 80% of its value since December 2017. It’s been a veritable catastrophe and most of the altcoins in the market have lost most of its value. Some blockchain projects have shrunk so much that their very existence is now threatened. Not so with Tron.

Tron has managed to keep growing because the community is bullish about the coin and they’re using it enthusiastically to support the network’s decentralized apps. That’s made Tron’s Tronix (TRX) the eight cryptocurrency by market capitalization as we write this article (but last week it was at seventh). And it could (and probably will) take over Litecoin for the seventh place as the distance between both coins is of about a hundred million dollars and that could be salvaged at any day. The market’s simple natural fluctuations could achieve that on their own.

And on that point, the Tron’s coin market capitalization increased by 500 million USD over the month. The number of accounts went up by 532 Million users and the token’s price also increased by 37%. If you think these numbers are not thoroughly impressive you should take into account that no other blockchain project in the cryptosphere can deliver these kinds of results over the last month.

So what’s next? We’re still expecting for Project Atlas to be completed and for the BitTorrent Token to be launched at Binance. That will see the BitTorrent network (the world’s largest centralized network) transform into Tron’s blockchain technology.

That new development will bring a hundred million new users to Tron’s blockchain, and they will all be using a Tron-based token (BTT) that will incentivize users to seed their content. Once Project Atlas is, at last, online, Tron will become the world’s largest blockchain (yes, it will even beat BitCoin in terms of users) and that will create a new use case for TRX and it will stimulate demand for it.

Tron was amazing in January. And it will only get better.

Image courtesy of Pixabay.