Buy Multibit (MUBI)
What is Multibit?
Multibit is a protocol designed to unify liquidity among the Bitcoin network and Ethereum Virtual Machine (EVM) networks. It facilitates a secure and efficient bridging mechanism for seamless token transfers between the Ethereum (ETH) chain, Binance Smart Chain (BNB), and Bitcoin (BTC) network.
How does Multibit work?
Multibit leverages the BRC-20 token standard for Bitcoin to enable two-way connectivity between EVM networks and the Bitcoin blockchain. It operates on both the Bitcoin blockchain and EVM networks like Ethereum and BNB. Smart contracts are used to facilitate the bridging process, allowing for the minting of equivalent token volumes on the EVM network when BRC-20 tokens are deposited and validated.
What are the potential use cases for Multibit?
Potential use cases for Multibit include:
- Decentralised Finance (DeFi): Engagement in activities such as lending, borrowing, yield farming, and decentralised exchanges.
- Cross-chain Interoperability: Bridging BRC20 tokens with ERC20 tokens to improve liquidity.
- Trading and Yield Aggregation: Trading Ordinals (ORDI) tokens through the Ordinals Automated Market Maker (OAMM) and optimising yield for ORDI tokens in BRCFi applications.
- Stablecoin Issuance: Using ORDI as collateral for stablecoin issuance.
These applications highlight its role in sectors like DeFi, blockchain, and cross-chain solutions.
What is the history of Multibit?
Multibit originally referred to a Bitcoin wallet software launched in 2011, which gained popularity for its ease of use. It was discontinued in 2017 due to maintenance issues. The current Multibit (MUBI) protocol is unrelated to this wallet. It focuses on bridging tokens between Bitcoin and EVM networks, with significant developments in its ecosystem planned through 2024.
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Frequently Asked Questions (FAQs)
What is the current price of Multibit (MUBI)?
The Multibit price is $0.03872482 AUD, representing a +17.79% from the day prior.
Where is the best place to buy Multibit (MUBI) in Australia?
The best place to buy Multibit (MUBI) 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 Multibit (MUBI) 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 Multibit (MUBI)?
The trading volume of Multibit (MUBI) is $9.4M AUD in the last 24hrs, representing a +17.79% from the day prior.
How can I buy Multibit (MUBI)?
Multibit (MUBI) 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 Multibit (MUBI)?
The current market cap of Multibit (MUBI) is $36.6M AUD.
Can I convert Multibit (MUBI) to cash?
Yes - With Coinstash you can convert your Multibit (MUBI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Multibit (MUBI) are there?
The current circulating supply of Multibit (MUBI) is 950.0M.
Is Coinstash a safe place to buy Multibit (MUBI) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Multibit (MUBI) 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.