Making its debut on the Binance Smart Chain, Bitcoin BSC (BTCBSC) is a hot new ‘Bitcoin clone’ that has already raised over $100,000 in its presale within 48 hours.
Bitcoin BSC found its inspiration in the 2011 Bitcoin model. The token has an attractive early-stage price of only $0.99.
Moreover, the platform’s high staking rewards and excitement surrounding Bitcoin clones add to its appeal to retail investors.
For example, BTC20, a comparable token launched on Ethereum earlier this year, saw a quick presale sell-out and jumped by 7x after listing on Uniswap.
While Bitcoin saw an 11.6% price drop this past month, its cheaper cryptocurrency clones like BTC20 and Bitcoin BSC are gaining traction. Given the recent buzz around BTCBSC, it could follow in the footsteps of BTC20.
Bitcoin’s recent price spike to over $27,000 was short-lived, mainly because the SEC appears reluctant to speed up the approval process for a Bitcoin ETF.
The Bitcoin BSC presale kicked off on 5 September and has since caught investor attention, positioning itself as a strong contender in the Bitcoin clone market.
BTCBSC Staking Rewards Distributed Every 10 Minutes
Bitcoin BSC differs from classic Bitcoin mainly in two ways. First, it runs on the BNB Smart Chain that uses a proof-of-stake mechanism. This leads us to the second distinction: Bitcoin BSC pays out staking rewards.
If you invest in BTCBSC, you don’t have to mine like traditional Bitcoin. You can simply stake your tokens to confirm transactions on the blockchain.
The system has a 10-minute cycle for new BTCBSC rewards, similar to Bitcoin’s block reward timing. Once you stake your tokens, they’re locked only for a week.
Your rewards are relative to your share in the entire staking pool. For instance, owning 20,000 tokens in a 100,000-token pool means you’ll collect 1/5th of the newly released rewards.
69% of all BTCBSC tokens are reserved for staking rewards. This ensures that rewards will be available for the next 120 years, approximately the same period until Bitcoin is entirely mined.
Owning BTCBSC tokens opens two avenues for profits. You gain not just from an increase in token price but also from the rewards compounded through staking.
At the time of writing, the platform offers an Annual Percentage Yield (APY) of over 6000%, making it appealing for early buyers.
The APY will decrease as the token’s staking pool gains traction. However, the compounding effect over time could be attractive.
Moreover, over 42,500 BTCBSC tokens have been staked in the pool in just 48 hours, highlighting strong investor confidence.
BTCBSC Beats Bitcoin On Speed and Cost-Efficiency
BTCBSC is less energy-intensive than Bitcoin, thanks to its Proof-of-Stake mechanism. This addresses the growing environmental concerns tied to Bitcoin’s high energy consumption.
Unlike Bitcoin, which lacks an on-chain staking option, BTCBSC brings this feature to the table. As seen previously, early adopters can get APYs exceeding 6,000%.
Additionally, built on the Binance Smart Chain, BTCBSC offers near-instant transactions, taking under 5 seconds to confirm.
This speed is notably quicker than traditional Bitcoin, which can take around 10 minutes for confirmation.
While Bitcoin transactions can cost around $5-$10, a BTCBSC transaction costs less than 10 cents. Thus, it’s an attractive option for frequent traders.
Moreover, BTCBSC also holds an edge over Ethereum-based tokens like BTC20 because, on Ethereum, you could pay a transaction fee of up to $10.
Best Cheap Cryptocurrency Under $1 On Presale
Per the Bitcoin BSC whitepaper, it closely mirrors Bitcoin’s original framework, with a capped supply of 21 million tokens. For its initial circulation, Bitcoin BSC is allocating 6.125 million tokens.
At press time, the presale is live, with 4 million tokens in the first phase and holding back 2.125 million in reserve to handle any surge in demand
The maximum hard cap goal for the first phase is $3.96 million. Additional tokens amounting to 2.125 million could expand the total cap to $6.125 million. Notably, any unsold tokens will funnel into the staking pool.
The presale provides a unique opportunity for investors, offering BTCBSC tokens at a mere $0.99. For context, BTC20, a similar token, started at approximately the same low price ($1) and yielded a 7-fold return.
Cheap cryptocurrency assets often have high upside potential. Bitcoin BSC will have a market capitalization of over $6 million at launch – over 100,000 times lower than Bitcoin’s market cap, leaving substantial room for growth after its exchange listings.
Post-presale, Bitcoin BSC will be listed on decentralized exchanges. Around 2% of the total supply is set aside for liquidity in decentralized exchanges.
Buyers can follow Bitcoin BSC’s official Twitter account and Telegram channel for the latest updates.