# What Is Bitcoin BEP2 (BTCB)?

[Bitcoin BEP2](https://coinmarketcap.com/currencies/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](https://coinmarketcap.com/currencies/bitcoin/) at a rate of 1 BTCB = 1 BTC. The [reserve address](https://btc.com/btc/address/3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb) 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](https://coinmarketcap.com/alexandria/glossary/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](https://coinmarketcap.com/alexandria/people/changpeng-zhao) (aka CZ in the crypto community) is the founder and CEO of [Binance](https://coinmarketcap.com/exchanges/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](https://coinmarketcap.com/currencies/bitcoin/) is not strong when it comes to [DeFi](https://coinmarketcap.com/alexandria/glossary/defi), developers are constantly looking for workarounds and struggle with obstacles that include high fees and a cumbersome process for creating [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract). [Bitcoin BEP2](https://coinmarketcap.com/currencies/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 a[tomic swaps](https://coinmarketcap.com/alexandria/article/what-are-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.


## Related Pages

Read more about [Binance Coin](https://coinmarketcap.com/currencies/binance-coin/) (BNB) and [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/). 

What is a decentralized exchange (DEX)? [Learn more](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) using CMC Alexandria’s Crypto Glossary.

What is Binance Smart Chain? Read [this tech deep-dive](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain).

What exactly is BEP-2, Binance Chain’s tokenization standard? All you need to know is [here](https://coinmarketcap.com/alexandria/glossary/bep-2-binance-chain-tokenization-standard).

For all the latest crypto news check out CoinMarketCap’s [blog](https://blog.coinmarketcap.com/).

How Many Bitcoin BEP2 (BTCB) Coins Are There in Circulation?

[Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) is a token that uses the [BEP-2](https://coinmarketcap.com/alexandria/glossary/bep-2-binance-chain-tokenization-standard) 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](https://coinmarketcap.com/currencies/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](https://coinmarketcap.com/currencies/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](https://coinmarketcap.com/currencies/bitcoin-bep2/) is based on Binance Chain, which uses a combination of delegated proof-of-stake ([DPoS](https://coinmarketcap.com/alexandria/glossary/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](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake)) algorithm. On top of this, the Binance blockchain is also secured by the Tendermint byzantine fault tolerant ([BFT](https://coinmarketcap.com/alexandria/glossary/byzantine-fault-tolerance-bft)) consensus mechanism.

Where Can You Buy Bitcoin BEP2 (BTCB)?

[Bitcoin BEP2](https://coinmarketcap.com/currencies/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](https://coinmarketcap.com/exchanges/binance-dex/), [PancakeSwap (V2)](https://coinmarketcap.com/exchanges/pancakeswap-v2/), [MDEX](https://coinmarketcap.com/exchanges/mdex-bsc/), [DODO BSC](https://coinmarketcap.com/exchanges/dodo-bsc/), [Demex](https://coinmarketcap.com/exchanges/demex/), [SwipeSwap](https://coinmarketcap.com/exchanges/swipeswap/), [JulSwap](https://coinmarketcap.com/exchanges/julswap/), [HitBTC](https://coinmarketcap.com/exchanges/hitbtc/), [Venus](https://coinmarketcap.com/exchanges/venus/), [BEPSwap](https://coinmarketcap.com/exchanges/bepswap/), [OpenOcean](https://coinmarketcap.com/exchanges/openocean/), [BakerySwap](https://coinmarketcap.com/exchanges/bakeryswap/), and [THORChain.](https://coinmarketcap.com/exchanges/thorchain-bep20/).

Still new to cryptocurrency? Learn how to buy [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) and other tokens using [our guide](https://coinmarketcap.com/how-to-buy-bitcoin/).

Do you want to know how long it takes to mine one Bitcoin? [Click here](https://coinmarketcap.com/alexandria/article/how-long-does-it-take-to-mine-one-bitcoin).


Bitcoin BEP2

Ledger

MetaMask

Binance Chain Wallet

Welcome to Bitcoin BEP2's Community channel aggregated by CoinMarketCap.

BNB Beacon Chain (BEP2)

FTX Token

WazirX

Contentos

TROY

Oxen

ShareToken

Mithril

Ormeus Ecosystem

Atlas Protocol

GoWithMi

Aeron

Founded in September of 2018, Pax Dollar is a flat-collateralized stablecoin. Stablecoins are cryptocurrencies that are designed to minimize the volatility of the price of the stablecoin, relative to a certain stable asset or a basket of assets.

A stablecoin can be pegged to a cryptocurrency or flat money. In some cases, it can even be traded for commodities. Pax Dollar offers the advantage of transacting with blockchain assets through minimized price risk. The Pax Dollar tokens (USDP) are issued asERC-20 tokens on the Ethereum blockchain and are collateralized 1:1 through the USD held in Paxos-owned US bank accounts.

Pax Dollar

TUSD is the first digital asset with live on-chain attestations by independent third-party institutions and is backed 1:1 with the U.S. dollar (USD). So far, it has been listed on more than 100 trading platforms such as Binance and Huobi and is live on 12 mainstream public chains, including Ethereum, TRON, Avalanche, BSC, Fantom, and Polygon.

TrueUSD is attested to in real-time by an independent, industry-specialized accounting firm in the U.S., to ensure the 1:1 ratio of its USD reserve to the circulating token supply and the 100% collateral rate. With the integration of Chainlink PoR, TrueUSD becomes the first USD-Backed stablecoin to secure minting and further ensure transparency and reliability. Users can access the relevant data via the official website tusd.io at any time. TUSD is granted statutory status as authorized digital currency and medium of exchange in the Commonwealth of Dominica, a country in the Caribbean, effective on October 7th 2022.

TrueUSD

Bitcoin Gold was founded in 2017 to become a user-friendly alternative to Bitcoin. The BTG network aims to combine the security and sturdiness of the Bitcoin blockchain and its characteristics with the opportunity for experimentation and development.

BTG enhances and extends the crypto space with a blockchain closely compatible with Bitcoin but without using resources like Bitcoin hash power or vying for the "real Bitcoin" title. The company aims to present a coin with the implementation capabilities of Bitcoin, however, expanding on the opportunities for DeFi and DApp developers to use the coin.

Bitcoin Gold

Bitcoin SV (BSV) emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had in turn forked from the BTC blockchain a year earlier following the blocksize wars.

BSV claims to fulfill the original vision of the Bitcoin protocol and design as described in Satoshi Nakamoto’s white paper, early Bitcoin client software and known Satoshi writings. BSV aims to offer scalability and stability in line with the original description of Bitcoin as a peer-to-peer electronic cash system, as well as deliver a distributed data network that can support enterprise-level advanced blockchain applications.

To this end, it has removed artificial block size limits and re-enabled Script commands and other technical capabilities which had been historically disabled or restricted by the protocol developers of the BTC blockchain. This purportedly allows the network to process tens of thousands of transactions per second while maintaining extremely low transaction fees for micropayments, in addition to offering advanced capabilities such as tokens, smart contracts, computation and other data use cases.

The BSV network claims to be unique in its capacity for unbounded on-chain scaling while also being more aligned with the original design of Bitcoin than any other blockchain.

Bitcoin SV

UNUS SED LEO

Decred is Money Evolved.

By combining battle tested Proof-of-Work with an innovative take on Proof-of-Stake that places coin holders in charge of shaping the future, Decred is able to adapt to challenges and innovate at a rapid pace. You acquire influence in Decred by putting “skin in the game”.

Decred’s security, privacy, scalability, and decentralized treasury empower stakeholders and provides them with the tools needed to enhance their financial sovereignty.

Decred

The Gemini Trust Company (Gemini) is a digital currency exchange and custodian that allows you to buy, sell and store digital assets, founded in February of 2014. The GUSD is created by the cryptocurrency exchange Gemini.

The company received approval from the New York Department of Financial Services or NYDFS to launch the stablecoin in September of 2018. The Gemini Trust Company holds USD deposits that correspond to the number of tokens that are in circulation.

When it comes to the Gemini Dollar itself, it is an ERC-20 token that is built on the Ethereum network and has smart contracts that are audited by the security company Trail of Bits Inc.

This dollar is intended to bridge the divide between traditional finance and the crypto industry, due to the fact that this specific stablecoin is completely regulated by the NYDFS.

Gemini Dollar

DAI is an Ethereum-based stablecoin (stable-price cryptocurrency) whose issuance and development is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization.

The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI is minted.

It is important to differentiate between Multi-Collateral DAI and Single-Collateral DAI (SAI), an earlier version of the token that could only be collateralized by a single cryptocurrency; SAI also doesn’t support the DAI Savings Rate, which allows users to earn savings by holding DAI tokens.

Multi-Collateral DAI was launched in November 2019.

USDD is a stablecoin issued by the TRON DAO Reserve. It’s pegged to the value of the US dollar and aims to provide a reliable, decentralized cryptocurrency for blockchain transactions. USDD can be used for payments, trading, staking and as a value store.

USDD is backed by a number of cryptocurrencies, including Bitcoin, Ethereum and TRON. To ensure stability and security, the reserve is over-collateralized, meaning that it holds more assets than the amount of USDD currently in circulation.

USDD

Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance (in partnership with Paxos), Approved and regulated by the New York State Department of Financial Services (NYDFS), The BUSD Monthly Audit Report can be viewed from the official website. Launched on 5 Sep 2019, BUSD aims to meld the stability of the dollar with blockchain technology. It is a digital fiat currency, issued as ERC-20 and supports BEP-2.

BUSD

Fei protocol is a DeFi native algorithmic stablecoin. The aim of Fei is to propose a technological solution in a sweet spot between rigid overcollateralized decentralized stablecoin and centralised custodial stablecoins.

Fei Protocol runs on two crypto assets: FEI stablecoin and TRIBE governance token.

FEI is aimed to be a more capital efficient and fully decentralized stablecoin. The protocol uses the value it controls to maintain liquid secondary markets and earn yield for the protocol.

The project was founded in December 2020 and immediately attracted significant interest in the crypto community. It resulted in $19 million VC investment in early March 2021. Among the names that have entered this project are Andreessen Horowitz (a16z), Coinbase Ventures, Nascent and Framework Ventures.

There were some issues with the peg in the original mechanism, but through a series of governance upgrades the protocol recovered in the months following launch.

Fei v2 intends to be a major upgrade for the system and will launch in late 2021. It features 1:1 redeemability for FEI against protocol reserves, TRIBE buybacks and backstop, and algorithmic protocol controlled value management.

Fei USD

Bora is a decentralized ecosystem for games and entertainment. Bora aims to attract games and applications from the GameFi sector to its Bora Chain to avoid building on blockchains like Ethereum that have high gas fees. For that reason, Bora follows a two-tiered blockchain system: the BORA token is traded on the Klaytn blockchain, a public blockchain that is focused on metaverse and gaming use cases. The Bora chain is a modular blockchain that can be used as an execution layer by decentralized applications.

The Bora team provides development toolkits that support developers with creating decentralized applications for its ecosystem. It also utilizes Bora Points, a currency within the ecosystem as a resource for development and to incentivize contribution to Bora. Bora Points can subsequently be converted to the BORA token.

BORA

Tether Gold (XAU₮) is a stablecoin that provides ownership on a 1:1 basis of one fine troy ounce of gold on a physical bar of gold that meets the Good Delivery standard of the London Bullion Market Association (LBMA). This technology allows access to a stablecoin that provides ownership of physical gold while avoiding the drawbacks associated with physical gold, such as high storage cost and limited accessibility.
Note: XAU₮ tokens can be fractionated up to six decimal places (i.e. in increments as small as 0.000001 troy fine ounce).

Tether Gold

OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world andcurrently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to the cryptocurrency exchange giantBinance, but there are a few key differences. The OKEx platform has its owncloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKEx utility token that enables users to access the crypto exchange's special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKEx has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKEx focuses on crypto trading with a built-inAPI for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions formargin trading.

Huobi Token (HT) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant. HT’s value is in part reliant upon the reputation of the Huobi crypto exchange, yet other factors also have an impact.

To learn more about this project, check out our deep dive of Huobi Token.

Huobi Token is a relatively young project. It first launched in January 2018, hot on the heels of the release of a native token on rival crypto exchange Binance. Having its own token allows Huobi to build a flexible marketing strategy in order to attract new users and further grow its platform.

One key function of the token is to reduce commissions for trading operations on the exchange, which are usually paid from users' wallets. Yet the token has much more to offer. Using HT, users can purchase monthly VIP-status plans to receive discounts on transaction fees. Token holders have the right to vote on exchange decisions, can receive crypto rewards for seasonal buybacks, and also get early access to special events. HT holders can, at any point, trade the token for other cryptocurrencies.

Huobi Token

The Neutrino index is a decentralized financial (DeFi) platform based on the Waves blockchain. The platform rebranded its index token from USDN to XTN. Neutrino has two native tokens, XTN and NSBT.

XTN is an algorithmic crypto-collateralized indexcoin backed by three Waves Ecosystem tokens: WAVES, WX and VIRES. XTN's main function is to encourage user participation in the Neutrino by rewarding those who provide liquidity to the system.

The platform’s other token, NSBT (Neutrino System Base Token), is used for governance purposes: it allows users to make decisions about the future development of the Neutrino protocol, and it ensures the stability of collateral reserves on Neutrino’s smart contract.

New NSBT tokens are issued whenever a user locks WAVES tokens on a contract, which serves as additional backing and insures the system against a deficit. Holders can stake to earn on WAVES to XTN swap fees.

Neutrino Index

sUSD is a synthetic USD token enabled by the Synthetix protocol. It tracks the price of the US Dollar through price feeds supplied by Chainlink’s decentralized network of oracles. sUSD is integrated across the DeFi ecosystem as one of the most liquid decentralized stablecoins, including at Curve. It can be traded without slippage for other assets native to the Synthetix protocol at Kwenta or Synthetix.Exchange.

sUSD

Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming.

Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders.

Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI.

yearn.finance

Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to real-world assets, entertainment and gaming, and even the Bank of Korea’s CBDC pilot project. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.

Klaytn

NEM is a blockchain platform that was launched in March of 2015. It was one of the pioneers of the cryptocurrency industry, and sought to improve on the imperfections found on other chains at the time. It was one of the first non-turing complete chains to feature user-defined tokens (called mosaics), namespaces, multisignature accounts, and a P2P reputation system based on EigenTrust++. Its most notable contribution to the space is the proof-of-importance consensus mechanism, which sought to reward on-chain activity and deter the concentration of wealth commonly associated with proof-of-stake. Its client, NIS, is written in Java.

NEM has a global community. It sees the most utility as an alternative form of payment for businesses and vendors, and has a variety of social media apps built on top of it in Japan, such as nemgraph, a community-driven owned and operated alternative to Instagram.

In December 2021, NEM was hard forked by a pseudonymous team of cryptocurrency experts and enthusiasts alike. Titled Harlock, this hard fork signaled the community’s intent to take NEM from a shadow of its former self into the world’s leading payments platform for on-chain and off-chain media content.