Academy by CoinMarketCap takes a deep dive into Bit2Me (B2M), the largest cryptocurrency exchange in Spain.
Bit2Me (B2M) is the leading crypto exchange in Spain founded in 2014 by Leif Ferreira and Andrea Manuel. Bit2Me aims to be the gateway to frictionless markets to help make the traditional financial system obsolete. Its vision is a transparent and open financial system with more efficient markets. That is why Bit2Me supports initiatives in the DeFi ecosystem like interaction with protocols, liquidity provision, decentralized lending, margin trading, and other financial applications.
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How Does Bit2Me (B2M) Work?
Bit2Me is a crypto exchange that offers users all necessary functionality to get started with cryptocurrencies: buying and selling coins, custodial and non-custodial wallets, OTC trading, staking, swapping coins, high-frequency trading, crypto debit cards, and more. The exchange also provides an in-depth education center, called Bit2Me Academy, where investors can learn more about cryptocurrencies and blockchain technology.
New investors can quickly get started, thanks to the various payment options offered by the platform. The exchange offers 100 different cryptocurrencies that users can easily buy, sell, and store for euros. Thanks to the uncomplicated onboarding, even crypto beginners can start their journey without friction.
Bit2Me is backed by an experienced senior management team with experience in business, technology, and investments. Its CEO, Leif Ferreira, has more than ten years of experience as a full-stack engineer and founder of previous startups. He was also an Advisor to the European Blockchain Committee and the Winner of FinTech Americas Hackathon 2015. COO Andrei Manuel launched Bitphone, the world's first cryptographic mobile top-up product. He also founded Tikebit, a service enabling over-the-counter crypto trading in Spain at more than 250 establishments.
Unique Features of Bit2Me
Bit2Me has everything a trader could ask for from a cryptocurrency exchange.
Bit2Me Wallet
With the Bit2Me Wallet, traders can buy, sell, send, receive, and store crypto. Creating an account is free, and the wallet supports multiple cryptocurrencies. In total, there are 99 Lite Wallets (partial support for crypto) and three Full Wallets (full trading support). Traders can deposit in Euros via bank transfer, credit or debit prepaid card, payments from friends, or even with cash. Withdrawals are via international bank transfer, cash, transfers to friends, and to the Bit2Me Mastercard. Crypto is also possible. In addition, Bit2Me offers personalized 24/7 support via phone, chat, mail, and text and video tutorials.
Bit2Me Staking
Traders can add their funds to the Bit2Me farming pool with a TVL of over 30 million Euros and earn daily and weekly payments without commissions. Bit2Me offers different interest rates and durations for different cryptocurrencies, ranging from up to 4.50% on BTC to 16.92% on its native B2M coin.
Bit2Me Trade
Bit2Me Trade is the exchange's crypto trading tool that promises large volumes and great liquidity. On its BTC/EUR pair, fees are 0.1% for takers and 0% for makers.
Bit2Me Pay
Bit2Me offers users the option to send funds to their friends with a Bit2Me account for free. Users can send cryptocurrencies or fiat currencies and only need the person's email account or phone number. In the future, Bit2Me also plans integration with social media accounts that will enable paying your favorite social network contacts.
Bit2Me Commerce
Bit2Me Commerce is the exchange's payment integration that enables online or physical businesses to accept cryptocurrencies. Businesses can benefit from low commissions, irreversible payments, and customer privacy; all provided through the exchange's API. Withdrawals are in crypto, to the Bit2Me Mastercard, or in euros.
Bit2Me Custody
Institutional investors have the option of storing their crypto at Bit2Me in a highly secure cold storage option. Their funds are insured up to €100 million, and they can simultaneously benefit from the staking option and earn interest on their investment.
Bit2Me Launchpad
Bit2Me offers an ICO launchpad to projects that want to benefit from the platform's userbase and raise money for their businesses. B2M holders can invest in new and promising tokens early and reap the rewards.
Bit2Me Card
The Bit2me Card will be the official Mastercard of the crypto exchange, allowing users to pay with their crypto at more than 40 million locations worldwide. The B2M card will be available as a physical and virtual card and promises daily and weekly payments from staking, no commissions, and fast and simple one-click integration.
Bit2Me OTC
Institutions, hedge funds, and big private investors can buy cryptocurrencies over the counter and enjoy frictionless and deep-liquidity trades at professional prices. Bit2Me vows to have ample expertise in dealing with big institutions and strives to create long-lasting partnerships.
Bit2Me Academy
Bit2Me Academy is a free online learning platform for cryptocurrency and Blockchain technology. The platform provides knowledge about cryptocurrencies such as Bitcoin, blockchain technology, trading, and much more, both in text and video. In 2020 alone, Bit2Me Academy has provided content to more than 1.7 million unique users.
Use Cases of the B2M Token
The B2M token unlocks access to higher APYs when staking, ICO whitelists for upcoming token launch on the platform, partner perks, discounts, future airdrops, and more. Bit2Me also promises to use it as a governance token that will give token holders a stake in the exchange's governance process. In addition, it is supposed to be the way to participate in the Bit2Me DeFi ecosystem through participation in liquidity pools. Bit2Me promises that the token will have special functions that non-holders cannot enjoy, although these are not defined in detail.
Bit2Me (B2M) Tokenomics
The total supply of B2M is 5 billion and is distributed as follows:
- Public offering 1: 10% at €0.01 - six-month lock-up, six months vesting from the end of the lock-up period.
- Public offering 2: 10% at €0.015 - three-month lock-up, three months vesting from the end of the lock-up period.
- Public offering 3: 5% at €0.02 - one-month lock-up, no vesting.
- Team: 10% - six-month lock-up, 6 to 24 months vesting.
- Platform reserve: 30%
- Private seed round: 10% at €0.005 - six-month lock-up, six months vesting from the end of the lock-up period.
- Advisors: 8% - 1 to 12 months lock-up.
- R&D Ecosystem: 7%
- Airdrops: 2%
- Partners: 8%
Furthermore, Bit2Me is running an airdrop campaign and distributing 8 million B2M from February 10 till March 2 to celebrate its partnership with Polygon.
Bit2Me (B2M) Price
Bit2Me (B2M) is currently trading around $0.05 as of February 22, 2022, down from its all-time high of $0.30 set in November 2021. Its 24-hour trading volume on exchanges is around $2.2 million, and its fully diluted market cap is just above $250 million.
Bit2Me (B2M) Price Prediction and Future Outlook
Bit2Me appears to be a legitimate trading platform with more than 450,000 users across Southern Europe. It has the potential to grow in Latin America and Southern Europe, which would warrant price upside given the growth of the cryptocurrency industry.
However, its B2M has taken a beating and is down more than 80% from its all-time high, suggesting that investors are unhappy with HODL in difficult market conditions. In addition, B2M has quite a significant allocation to investors, advisors, and the team, which has proven to undermine investor confidence in other crypto tokens. As the market fears that early investors with short lock-up periods might dump the token to lock in gains, prices can correct significantly.
However, if Bit2Me continues to expand its user base, the price of B2M could reverse, especially given that most downside risk is priced in. Furthermore, more bullish market conditions could add to a price surge, although 2022 may be a particularly unpredictable year for cryptocurrencies.
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