how to buy bittorent

With the demand for decentralization increasing steadily, P2P platforms like BitTorrent (BTT) have become more popular. This is the reason why many users ask questions like “how to buy BitTorrent” and “where to buy BTT crypto.”

If you want to buy BTT but don’t know where to start, you should read this article from start to finish. We will cover the basic steps of buying BTT, as well as some important topics about the token.

BitTorrent (BTT) Buying Guide

Step 1: Find An Exchange That Supports BTT

To start buying BTT, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support BTT.

  • 500+ Cryptocurrencies Available for Trade
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  • Fees (Maker/Taker) : 0.020%*-0.070%*
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  • Available in Europe, Asia, Oceania, Africa
  • 1500+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.2%*-0.2%*
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  • Available in North America, South America, Europe, Asia, Oceania, Africa

Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.

Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification. 

You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.

Step 2: Deposit Funds to Your Exchange Account

Before buying BTT, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.

Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.

Step 3: How to Buy BTT Officially?

Learning how to buy BTT is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the BTT ticker. You can also look directly for BTT trading pairs to save time. Afterwards, just enter the amount of the BTT tokens that you want to buy.

You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.

Everything You Have to Know About BitTorrent (BTT)

BitTorrent is a popular P2P (peer-to-peer) file-sharing platform empowered by decentralization. In BitTorrent, everyone can share files through torrents and magnet links. Even though BitTorrent faced many legal battles due to copyright conflicts, the platform emerged victoriously. In 2018, BitTorrent entered the world of cryptocurrency after getting purchased by TRON (blockchain OS provider).

BitTorrent’s native token is BTT – a TRC-10 standard running under the TRON blockchain. The main purpose of BTT is to enable the transaction flow of computing resources among BitTorrent clients. BTT is also responsible for creating a dynamic liquid market for organizations and service providers. Additionally, BTT empowers a decentralized ecosystem focused on sharing network resources, bandwidth, file storage, and other beneficial utilities.

Another strong component of BitTorrent is the BitTorrent File System (BTFS). This complex network is a decentralized storage system supported by millions of nodes around the world. Since BTFS runs on a blockchain network, file transfer and retrieval are more efficient than the capabilities of centralized storage options.

How Does BTT Work?

Once you’ve obtained BTT tokens, you can use them to access the utilities offered by the BitTorrent platform. BitTorrent Speed, for example, is a service available to all BTT holders. Under this service, BitTorrent participants are incentivized to seed torrent files on a regular basis. Continuous seeding will ensure that files are always available for downloading and sharing.

BTT can also be used to avail organizational solutions like effective digital content delivery, decentralized storage, and proxy service acquisition. In the long run, organizations can get these services and save money by using BTT tokens.

What Makes BitTorrent (BTT) Unique?

BitTorrent is unique because it created a diverse, thriving network where everyone can share files and preserve data without risk of censorship. In effect, everyone within the BitTorrent network has a meaningful role to fulfill.

The BTT token is instrumental for ensuring that active participants in the BitTorrent network are properly incentivized. Plus, BTT is helpful for community governance in the BitTorrent ecosystem.

Who Are the Founders of BitTorrent?

The Founder of BitTorrent is Bram Cohen. As a talented programmer, Cohen saw the irregularities and weaknesses of the media business. With his strong belief, Cohen strengthened the foundations of BitTorrent and attracted millions of participants to the file-sharing network. Eventually, Bram Cohen partnered with his brother, Ross, and an entrepreneur named Ashwin Navin.

In 2018, cryptocurrency company TRON acquired BitTorrent and opened the floodgates to a better decentralized service with tokenization mechanics. 

What Are the Use Cases of BTT?

BTT has several use cases related to file-sharing, data storage, and data transfer efficiency.

Here are the use cases of BTT:

  • Trading
  • Payment for service requests
  • Incentives for node participants
  • BitTorrent governance

Who Builds on BitTorrent (BTT)?

BitTorrent is meant for people who need an efficient way of transferring and receiving data files. Service providers can also use the BitTorrent network to distribute digital files without worrying about high costs, censorship, and data losses.

Official website: https://www.bittorrent.com/

Essential Points of the BitTorrent (BTT) Whitepaper

The BitTorrent Whitepaper explained the operating mechanisms of the BitTorrent client as well as the tokenomics of BTT.

These are the strong points of the BitTorrent (BTT) Whitepaper:

  • BitTorrent architectural framework
  • BitTorrent Speed and other products
  • BTT utilization
  • BTT token distribution
  • Governance and incentives

The Best Cryptocurrency Wallet for BTT

After knowing how to buy BTT, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.

You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.

On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.

What Factors Affect My Choice of Crypto Wallet for BTT?

At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.

Check out the important factors affecting your choice of BTT wallet:

  • Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade BTT right away.
  • Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
  • When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
  • Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
  • Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.

Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors

Now that you already know how to buy BTT, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.

When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.

Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.

If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes. 

General Market Overview for BitTorrent (BTT)

Do you want to learn more about BitTorrent (BTT) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!

Additionally, here are some important topics in our blog:

  • Trading speculation about BitTorrent (BTT)
  • The current market prices of cryptos
  • Detailed price charts with comprehensive histories
  • Whitepaper summaries of cryptos
  • Founder profiles and their related works
  • Up-to-date cryptocurrency news and developments

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