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How to buy BTC Standard Hashrate Token (BTCST)
Learn how to buy BTC Standard Hashrate Token (BTCST) in our step-by-step guide.
Where to buy BTC Standard Hashrate Token
It looks like BTCST may not be available to purchase on an exchange in the US.
You can still purchase BTCST by using a decentralized exchange (DEX) instead. decentralized exchanges are web applications that run on blockchains like Binance Smart Chain (BSC) and allow users to trade any asset directly with one another.
Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.
How to purchase BTCST using a decentralized exchange.
- Find BTCST on a decentralized exchange and make sure BTC Standard Hashrate Token can be traded for BNB which is the native asset of Binance. The most popular DEX on Binance Smart Chain is PancakeSwap.
- Buy BNB to trade for BTCST using an exchange like Crypto.com. You will need to purchase enough BNB to swap for BTCST as well as BNB to pay for transaction fees (known as gas) on the BSC network, which usually costs less than a dollar.
- Transfer the BNB into a a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade BNB for BTCST on PancakeSwap, following the instructions on screen. Make sure to leave enough BNB in your wallet to pay for gas.
- Wait for the transaction to finalize and the BTCST tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.
Best BTC Standard Hashrate Token wallets to store your BTCST
You can keep your BTCST on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Recent BTC Standard Hashrate Token developments
Is BTC Standard Hashrate Token a good investment?Hashrate tokens are relatively new to the cryptocurrency industry and, therefore, risks should be evaluated thoroughly. Below are some factors to keep in mind before purchasing BTCST:
- Supply. At the time of writing, there is a circulating supply of approximately 8.4 million tokens. The maximum supply is capped at 15 million. The project has not experienced any private or public sales. BTCST tokens are only issued when eligible miners standardise and tokenise their BTC hash rate.
- Governance. The platform is governed in the form of a Decentralized Autonomous Organization (DAO). This means it is a democratic, community-driven platform where token holders and miners have the authority to make decisions regarding development. The community can collectively decide on issues related to the project and participate in proposals.
- Community Redenomination Vote. The community of BTCST token holders initiated a proposal in February 2021 to vote for an adjustment to the issuance of tokens. A proposal was made to increase the maximum supply to 15 million. The overall value and market cap of the token remained the same. After the vote, all BTCST holdings increased by a ratio of 1:10. This means each BTCST token now represents 0.01TH/s, instead of the original 0.1TH/s. The redenomination enables more investor participation and meets the strong demand for the BTCST token.
Additional information about BTC Standard Hashrate Token can be found using our BTCST analysis tools.
Today's BTC Standard Hashrate Token price versus ATH
Compare today's price of BTC Standard Hashrate Token ($5.44 USD) against its all-time-high price of $91.94 USD on 15 April 2021. The closer the bar is to 100%, the closer BTCST is to reaching its ATH again.
ATH date: April 15, 2021
BTC Standard Hashrate Token ATH: $91.94
How to trade, convert or sell BTC Standard Hashrate TokenYou can convert or sell your BTCST with the same exchange you bought it through:
- Sign in to the exchange you have BTCST on.
- If you store your BTC Standard Hashrate Token in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of BTCST you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of BTC Standard Hashrate Token.
- Complete your transaction and move your BTCST to a wallet for storage.
Disclaimer: Cryptocurrencies, including BTC Standard Hashrate Token, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BTCST is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the BTC Standard Hashrate Token or any other cryptocurrency discussed.
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