Building Utility on BTR
Those of you who have been with Bitrue for a long time will be well aware of our dedication towards our platform token — Bitrue Coin BTR. It’s been the lifeblood of our company since we launched it in July 2019 and we have done all that we can to consistently add extra utility and bring more value to its holders.
With some exciting news on the horizon, now is a good time to re-cap the different benefits BTR brings you as the world’s first Yield Token.
- Govern Bitrue’s future with BTR Voting
The newest utility of BTR, launched several months ago, is the ability to use your coins to make decisions about Bitrue’s future. It’s our sincere belief that in order to provide the best service for our users, we need to deeply understand their desires and requirements. What better way to do that than to let the users vote directly on our future updates!
Right now we are regularly holding voting sessions where users can vote for new coins to come to the Bitrue exchange. Each 1 BTR that a user holds entitles them to 1 vote. If a new coin receives enough votes then it gets listed for trading, and additionally, in most cases it also advances the BTR into the Vote Staking phase. For the subsequent 7 days, for every day that your BTR remains staked you earn rewards in the form of the coin you staked, with rewards that have managed to hit APRs greater than 150%! The more BTR that was used to vote, the higher a user’s individual rewards will be. You can take a look at the coins that need your vote right now on the BTR Vote page.
- Yield Farming
Have you heard about DeFi, but don’t know how to get started? It’s true that DeFi has some of the highest investment returns in the industry but actually using the protocols can be a bit of a challenge. That’s why Bitrue can handle the hard parts for you. At regular intervals we open up new Yield Farming opportunities where you can farm for high yield coins like CAKE or SUSHI, or even more mainstream coins like XRP and ADA. You’ll need to stake your BTR to take part in most of these pools though, and the more BTR you use, the more you’ll be able to stake, and the higher your rewards will be.
- Token sale airdrops & rewards
Bitrue is fast increasing the number of token sales we’ll be supporting, as many new projects are looking to partner up with trustworthy exchanges to debut their projects to the world. In these token sales we have events where you can receive early airdrops of these new tokens, and the way that you enter into these airdrops is through — you guessed it — holding BTR. As usual, the more BTR that you hold, the more rewards you can receive.
We recently completed our token sale with Lucretius LUC for example, and gave away over 100,000,000 LUC exclusively to BTR holders who registered their interest.
- Power Piggy VIP caps & boosts
Power Piggy is Bitrue’s famous investment service which allows all of our users to invest 80+ coins and receive passive interest every single day. While it’s possible for the entire community to invest daily, if you have a significant amount of coins that you want to start earning on then you’ll need to use the VIP caps to do it, which are fuelled by BTR. The more BTR that you hold, the higher your cap will be, and the more coins you’ll be able to invest.
What’s more, if you keep that BTR in your account for the long term, it will passively boost the APR that you are receiving on ALL of your Power Piggy investments. The boost you can receive is tiered and can go as high as 20% if you hold BTR in your account with a value of at least $10,000.
- BTR Lockups
Similar to the Power Piggy, BTR Lockups allow you to invest your coins and receive interest on them. The key difference is that your coins will be locked for a full 30 days (with the interest paid out in one lump sum at the end), and also, you need to invest your BTR alongside the coin of your choice to access the feature. The rewards are worth it though, with APRs higher than what the regular Power Piggy offers. You also earn 7.3% interest on the BTR at the same time!
- Trading fee discounts
When you make a trade on Bitrue you incur a fee that is paid in the base currency of the pair, but did you know that this fee can be reduced if you choose to pay in BTR instead? Currently there is a full 20% discount if you choose to use this feature.
To turn it on take a look at your account page and be sure to toggle on the “BTR Fee” option at the top.
While we love and treasure the users who purchased BTR to support the Bitrue team, we know that 99% of BTR holders are here to make money on an investment, so let’s take a look at how BTR has performed since its token sale over two years ago. BTR first launched at $0.05, while it is currently trading at just shy of $0.25. That’s a 400% increase in three years, way more than you’d get on the FTSE!
As you can see above there are plenty of ways that owning BTR benefits you as a user, and this encourages more and more crypto investors to buy and hold on to the coin long-term. This increases demand for the coin, which is one of the two key determinants of a coin’s price.
The other determinant is supply, which Bitrue is actively decreasing and which pushes the coin price even higher! Bitrue has conducted a total of 8 BTR Burns so far, a process where we take a portion of the profit that we made each quarter and use it to purchase BTR back from our users. This BTR is then burned — destroyed in a way that nobody in the future will ever be able to use it again, removing it from the supply permanently. A total of 198,692,902.84 BTR has been burned so far.
We hope this article has given you a good insight into the value of BTR. The Bitrue team has poured so much effort into increasing the utility of this coin over the last several years, and we plan to continue for many years to come, with numerous features in active development or research phases that we’re sure you’ll be excited about. Please look forward to an announcement later this week that we know many of you have been anticipating for a while!
If you wish to add BTR into your portfolio for the first time or grab some extra bags, you can do so today at the Bitrue exchange.