Bitcoin BEP2 Price (BTCB)
Bitcoin BEP2 Chart
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BTCB Price Live Data
The live Bitcoin BEP2 price today is $37,904.68 USD with a 24-hour trading volume of $37,795,819 USD. Bitcoin BEP2 is down 1.30% in the last 24 hours. The current CoinMarketCap ranking is #37, with a live market cap of $2,771,248,773 USD. It has a circulating supply of 73,111 BTCB coins and the max. supply is not available.
If you would like to know where to buy Bitcoin BEP2, the top exchanges for trading in Bitcoin BEP2 are currently HitBTC, PancakeSwap (V2), MDEX(BSC), PancakeSwap, and BakerySwap. You can find others listed on our crypto exchanges page.
What Is Bitcoin BEP2 (BTCB)?
Bitcoin BEP2 (BTCB) is a token on the Binance Chain. Each BTCB is 100% backed by a BTC reserve, with the price pegged to Bitcoin at a rate of 1 BTCB = 1 BTC. The reserve address for verification is publicly available to anyone at any time.
The Binance cryptocurrency exchange has published the reserve address to demonstrate the transparency of the Bitcoin BEP2 project, as well as to pique the interest of third parties who can freely check the contents of the Bitcoin pool and compare the data with the number of BTCB tokens issued. The project forms part of Binance’s endeavor to provide affordable trading opportunities for users of its decentralized exchange (DEX) – one of the main services supported by Binance Chain.
Since its launch on April 18, 2019, Binance Chain has been able to achieve good results regarding decentralization and interoperability in a quite short time. Binance Chain Evolution Proposal 2 (BEP2) was launched in June 2019, outlining a set of technical features, rules and management criteria that tokens must meet in order to function properly in the Binance Chain ecosystem.
Who Are the Founders of Bitcoin BEP2?
Changpeng Zhao (aka CZ in the crypto community) is the founder and CEO of Binance, which grew to become the world’s largest crypto exchange by daily traded volume within just 180 days. He is a graduate of McGill University in Montreal with a degree in computer science. As a coder who gained experience building high frequency trading systems, he has been concentrating on blockchain technology since 2013 and has completely immersed himself in the world of cryptocurrencies.
CZ is also CEO at BijieTech, which he founded in 2015. Prior to BijieTech, Zhao was the co-founder and CTO of OKCoin, around the same time he launched his own futures platform. He has also worked at Blockchain.info as the head of the technology department. In 2017, he officially launched Binance.
What Makes Bitcoin BEP2 (BTCB) Unique?
As Bitcoin is not strong when it comes to DeFi, developers are constantly looking for workarounds and struggle with obstacles that include high fees and a cumbersome process for creating smart contracts. Bitcoin BEP2 is a Bitcoin clone issued on Binance Chain. Its price is always as close as possible to the price of the underlying asset – Bitcoin – and each BTCB is backed by an actual BTC.
The pegged BTCB tokens are therefore 100% backed by their own reserve coin, Bitcoin. The advantages of using BTCB include:
- Since the release of BTCB, traders on Binance DEX have had the opportunity to trade BTC, even if the BTC is hosted on a completely different blockchain. BTCB therefore provides Binance DEX traders with access to even more trading pairs, resulting in increased trading volumes.
- As the range of available assets has grown, so has liquidity, which is an advantage for users of the exchange.
- Binance has sealed a strong reputation over the years and has earned the trust of its users, so many users are willing to store their BTC on the platform in order to access BTCB.
- On Binance Chain, anyone can check the BTC reserves at any convenient time, which attests to the project’s high degree of transparency.
- Exchange representatives claim that while this approach is more centralized than atomic swaps, it is easier to understand and master for most traders.
- If developers wish to transfer their assets to Binance Chain, the platform actively promotes this and streamlines the process.
What is a decentralized exchange (DEX)? Learn more using CMC Alexandria’s Crypto Glossary.
What is Binance Smart Chain? Read this tech deep-dive.
What exactly is BEP-2, Binance Chain’s tokenization standard? All you need to know is here.
For all the latest crypto news check out CoinMarketCap’s blog.
How Many Bitcoin BEP2 (BTCB) Coins Are There in Circulation?
Bitcoin BEP2 is a token that uses the BEP-2 technical standard (as outlined in Binance Chain Evolution Proposal 2), which is used to issue and sell tokens on Binance Chain. As you know, Binance Chain has its own native token for paying fees, Binance Coin. To transfer BEP2 tokens you will therefore have to hold BNB tokens in your wallet.
BTCB holders can exchange their coins for any other tokens on Binance DEX. Token Holders can also exchange Bitcoin BEP2 for Bitcoin on the main Binance exchange.
As of early July 2021, the currency has a circulating supply of 73 096 BTCB and a total supply of 80 501 BTCB.
How Is the Bitcoin BEP2 Network Secured?
Bitcoin BEP2 is based on Binance Chain, which uses a combination of delegated proof-of-stake (DPoS) and practical Byzantine Fault Tolerance (pBFT). These two consensus algorithms are a much more ecological alternative to the energy-intensive proof-of-work (PoW) algorithm. On top of this, the Binance blockchain is also secured by the Tendermint byzantine fault tolerant (BFT) consensus mechanism.
Where Can You Buy Bitcoin BEP2 (BTCB)?
Bitcoin BEP2 is a decentralized digital asset that cannot be mined for profit. However, BEP2 tokens can be traded like other assets. To acquire BTCB you’ll need to purchase it through crypto exchanges. These include Binance DEX, PancakeSwap (V2), MDEX, DODO BSC, Demex, SwipeSwap, JulSwap, HitBTC, Venus, BEPSwap, OpenOcean, BakerySwap, and THORChain..
Do you want to know how long it takes to mine one Bitcoin? Click here.
BTCB Price Statistics
|Bitcoin BEP2 Price||$37,904.68|
|24h Low / 24h High|
|Volume / Market Cap||0.01364|
|Fully Diluted Market Cap||$3,051,364,956.87|
|Yesterday's Low / High|
|Yesterday's Open / Close|
|7d Low / 7d High|
|30d Low / 30d High|
|90d Low / 90d High|
|52 Week Low / 52 Week High|
All Time HighOct 21, 2019 (2 years ago)
All Time LowJun 23, 2021 (a month ago)
|Bitcoin BEP2 ROI|
|Circulating Supply||73,111 BTCB|
|Total Supply||80,501 BTCB|
|Max Supply||No Data|