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The Bitcoin Standard Hashrate Token aims to bring exchange-level liquidity to Bitcoin mining and solve the problem of limited exit options in the mining process. Each BTCST is collateralized with 0.1 terahash per second of Bitcoin mining power. Users can stake their BTCSTs and, by doing so, receive daily Bitcoin distributions corresponding to the amount of mining power staked.
What is Bitcoin Standard Hashrate Token (BTCST)?
Bitcoin Standard Hashrate Token (BTCST) is the native cryptocurrency of the Bitcoin Standard Hashrate platform. According to the statements, a significant barrier to participating in Bitcoin mining is the limited number of exit options. Bitcoin Standard Hashrate Token (“BTCST”) claims to solve this problem by bringing exchange-level liquidity to Bitcoin mining.
Each BTCST is collateralized with 0.1 terahash per second (“TH / s”) of Bitcoin mining power. By staking BTCSTs, token holders receive daily Bitcoin distributions corresponding to the staked mining power. Furthermore, as the market price of BTCST can be determined as a discounted cash flow of the underlying mining power, BTCST will function as a leveraged Bitcoin token in secondary transactions, free from liquidation risk. According to statements, BTCST will create an efficient market for Bitcoin mining power.
According to the statements, users can benefit from the advantages of the cryptocurrency by staking BTCST. BTCST holders can earn daily Bitcoin profits corresponding to the staked mining power by staking their tokens. Thus, BTCST holders can make money from both the rise in Bitcoin and the increase in the price of terahashes.
In addition, by transacting BTCST, market participants can freely start or end Bitcoin mining operations at any size, anytime, and at low costs. Miners without BTCST tokenized mining power can use tokens to protect themselves against the risks of fluctuations in mining machine cost prices.
BTCST Coin Review
The platform behind BTCST Coin is particularly notable for its focus on Bitcoin mining. Although Bitcoin mining is a profitable business, individual mining profits are now very low. Therefore, the ability for users to mine whenever they want and stop operations at any time is considered an important feature.
In addition, BTCST coin, which caught attention with its Binance listing, is seen to be attracting significant interest from investors. We can understand investors’ thoughts about BTCST coin more clearly by looking at historical and current data.
According to CoinMarketCap data, at the time the article was prepared for publication, Bitcoin Standard Hashrate Token was trading at $73.89, and in the BTCST/BTC pair, it was trading at 0.002100 BTC. Also, while there is no clear information on how many are currently in circulation, it is stated that the total number of Bitcoin Standard Hashrate Tokens will reach 1,000,000.
Additionally, it’s worth noting that BTCST hit a low of $55.10 on January 13, 2021, and a record high of $109.98 on January 14, 2021.
How to Buy Bitcoin Standard Hashrate Token Coin?
Bitcoin Standard Hashrate Token Coin can be purchased reliably and quickly through Binance, the largest cryptocurrency trading platform by market volume.
As the 15th project of Binance Launchpool, with Bitcoin Standard Hashrate Token Coin, users can perform their transactions in BTCST/BTC, BTCST/BUSD, and BTCST/USDT trading pairs.
