Buy Binance Bitcoin (BTCB)
What is Bitcoin BEP2 (BTCB)?
Bitcoin BEP2 (BTCB) is a cryptocurrency token issued on the Binance Chain, pegged 1:1 to Bitcoin (BTC). Its primary purpose is to bring Bitcoin's value and liquidity into the Binance ecosystem, enabling faster and more cost-effective transactions compared to the native Bitcoin network. BTCB maintains its peg by being fully backed by a reserve of Bitcoin, with the reserve's address publicly available for transparency.
How does Bitcoin BEP2 (BTCB) work?
BTCB operates on the Binance Chain using the BEP2 token standard. Each BTCB token is backed 1:1 by Bitcoin held in reserve, ensuring its value mirrors Bitcoin's. Transactions on the Binance Chain are quicker and cheaper than Bitcoin's native network, making BTCB suitable for trading and other blockchain applications. While BTCB itself does not utilise smart contracts, it can interact with the Binance Smart Chain for various decentralised finance (DeFi) activities.
What are the potential use cases for Bitcoin BEP2 (BTCB)?
Bitcoin BEP2 (BTCB) has several applications, particularly within the Binance ecosystem and the broader DeFi space:
- Trading: Used on decentralised exchanges like PancakeSwap and BakerySwap.
- Collateral: Supports lending platforms like CREAM and ForTube.
- Stablecoin Minting: Facilitates minting of stablecoins through projects like Venus.
- Arbitrage: Offers opportunities for price arbitrage trading.
- Staking & Lending: Allows users to earn additional income.
- Payments: Enables fast, low-cost transactions.
BTCB is widely used in industries like decentralised finance, cryptocurrency trading, and cross-chain interoperability.
What is the history of Bitcoin BEP2 (BTCB)?
Bitcoin BEP2 was introduced by Binance to integrate Bitcoin functionality into the Binance Chain ecosystem. While specific founding details and a comprehensive milestone timeline are not provided, BTCB has grown significantly since its launch. By 2024, over 73,000 BTCB worth more than $2.4 billion USD were circulating on Binance Smart Chain (BSC). Its creation represents a step towards bridging the gap between Bitcoin's liquidity and the speed and scalability of Binance's blockchain technologies.
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Frequently Asked Questions (FAQs)
What is the current price of Binance Bitcoin (BTCB)?
The Binance Bitcoin price is $158250.75 AUD, representing a -2.21% from the day prior.
Where is the best place to buy Binance Bitcoin (BTCB) in Australia?
The best place to buy Binance Bitcoin (BTCB) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Binance Bitcoin (BTCB) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Binance Bitcoin (BTCB)?
The trading volume of Binance Bitcoin (BTCB) is $70.5M AUD in the last 24hrs, representing a -2.21% from the day prior.
How can I buy Binance Bitcoin (BTCB)?
Binance Bitcoin (BTCB) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Binance Bitcoin (BTCB)?
The current market cap of Binance Bitcoin (BTCB) is $10.0B AUD.
Can I convert Binance Bitcoin (BTCB) to cash?
Yes - With Coinstash you can convert your Binance Bitcoin (BTCB) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Binance Bitcoin (BTCB) are there?
The current circulating supply of Binance Bitcoin (BTCB) is 65.2K.
Is Coinstash a safe place to buy Binance Bitcoin (BTCB) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Binance Bitcoin (BTCB) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.