PRICE

$ 0.004119

1H % ROI

0.94%

24H % ROI

1.28%

7D % ROI

-0.34%

Rank
62

BTC

Ƀ 0.00000009

24H Volume

$ 405,094,750

Available supply

659 071 882 049 BTT

Total supply

990 000 000 000 BTT

Market Cap
$ 2,708,931,254

PRICE

$ 0.004119

BTC

Ƀ 0.00000009

1H % ROI

0.94%

24H % ROI

1.28%

7D % ROI

-0.34%

24H Volume

342 736 490

Available supply

659 071 882 049 BTT

Total supply

990 000 000 000 BTT

Rank

62

Market Cap

2 291 931 921

BitTorrent: A brief summary

BitTorrent (BTT) is a peer-to-peer (P2P) software ecosystem. Its native token, BTT, is based on the Tron blockchain (TRX) and was launched in February 2019.

BitTorrent: Live Price Chart

What is BitTorrent (BTT)?

BitTorrent is a famous peer-to-peer download site that has existed since the early 2000s, long before the first cryptocurrencies appeared. However, TRON decided to acquire this download platform in July 2018 and to allow BitTorrent to integrate into the blockchain universe.

Thanks to its entry into the world of cryptocurrencies, BitTorrent has been able to further decentralise operating model and to add new services to its offering, such as the possibility of obtaining priority downloads on its platform, a decentralised storage system or the possibility of using a decentralised VPN.

Upon joining the crypto industry, BitTorrent set up the BBT token, which serves as a means of payment on the network. This is a TRC-10 token, that is to say operating on the TRON blockchain, much like Ethereum’s ERC-20 token Binance’s BEP-2.

Prior to its entry into the world of cryptocurrencies, BitTorrent was one of the leaders in peer-to-peer downloading. Now, in the words of BitTorrent itself, it is the market leader of decentralised P2P exchange sites.

What is BitTorrent for?

As we have seen, BitTorrent is essentially used to trade peer-to-peer. You may be well aware of how peer-to-peer platforms work, BitTorrent is a little different, and to understand it, you have to look into the features of the BTT token.

Firstly, the BTT token enables a much larger number of active users on the platform than before. Before BitTorrent entered the blockchain universe, users would download content and then usually close the programme once the files were copied to their hard drive. Now they are encouraged to stay connected, because they will be able to receive BTT tokens as rewards when they share files with other people.

Secondly, it was sometimes tricky to access to some rare files because no one shared them. Now, thanks to an auction system, the rarer a file is, the greater the rewards offered to the people who share it. Users who want to obtain this rare content will have to pay more than needed to acquire more common files, and will be given priority to obtain them. There will, therefore, be a huge incentive to share content that is not on the platform.

BitTorrent also offers a decentralised storage system, as do other projects. However, in the case of BitTorrent, it is much easier to do by using the peer-to-peer infrastructure already present on the platform. To store files, you will have to agree on a BTT price with the person or persons who have storage space on their computers.

There is also a decentralised VPN system that works differently from traditional IP modifiers. When using this VPN service on BitTorrent, you can use another user’s IP address, which ensures that it is unique. Indeed, on traditional VPNs, you can choose between several different addresses, but these are usually shared with many other people. By using BitTorrent, and depending on how many BTTs you’re willing to pay, you’ll be able to get a single IP address or share it with only a limited number of people.

Where to buy BTT?

If you want to buy BTT, then you will first need to get an intermediate digital asset, because the only fiat currencies you can buy it with are KRW (Korean won) or TRY (Turkish lira). Unlike almost all altcoins that can traded for BTC or ETH, it is interesting that BTT trades mainly for USDT, which is rather rare in the industry.

You also need to be very careful about the exchange platform you’re going to use to get your BTT. Indeed, there are hundreds out there, and many are not trustworthy. By depositing money on a questionable site, you may simply never see it again.

In order to help you find a reliable exchange to buy BTT on, we advise you to take a look at our ranking of the best exchange sites. These are platforms that we use regularly and where we have never encountered the slightest problem. So you can also use them, as they are a secure environment. Nonetheless, in the specific case of BTT, we advise you to use Binance, the most reliable site that has great liquidity and trading volume for the BTT/USDT trading pair.

What is our opinion on BitTorrent (BTT)?

BitTorrent has been able to solve the two main problems of traditional P2P exchange platforms: the difficulty of obtaining rare files and those of getting content quickly.

Thanks to its incentive system for people who share the files and the ability for those who want to retrieve them to speed up the process of getting them, everyone wins, even if we lose a little the initial spirit of peer-to-peer sharing that wanted to allow people to get files for free.

However, by weighing up the pros and cons of this system and, above all, noticing the excitement generated by this new blockchain version of BitTorrent, we can see that this change has been very profitable, since the number of people using BitTorrent is very large and the unit price of a token has increased about 60x since it arrived on trading platforms on 1st February 2019 and the time of writing (March 2021).

To learn more about how the blockchain version of the most famous peer-to-peer file exchange platform works, we recommend you take a look at our full BitTorrent guide that will give you more information on the subject.

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