Skip to main content

Binance, the world’s largest cryptocurrency exchange has announced that the BTTC is now open for trading today and this was just after they supported the BitTorrent (BTT) Token Migration, Redenomination, and Renaming Plan a few weeks ago.

Under the Binance platform the new BTTC token would have the following trading pairs:

  • BTTC/USDT
  • BTTC/USDC
  • BTTC/TRY

However, as mentioned on their website the BTTC/BTC and BTTC/BNB spot trading pairs would not be listed on their trading platform.

The BTTC is the newest token ticker of the old BTT token which was renamed as BTTOLD after the BitTorrent token migration.

What is BTTC?

Last December 2021, BitTorrent announced that they are launching the first scalable heterogeneous cross-chain interoperability protocol called BitTorrent Chain and this has resulted in the BTT redonmination plan that led to creating the BTTC which was the newest native token of the BitTorrent platform. The BTT redenomination plan redenominated old BTT with a swapping ratio of 1:1000.

Over the past few weeks, major cryptocurrency exchanges such as Binance, Bibox, and Bithumb have all supported the BitTorrent (BTT) Token Migration, Redenomination and Renaming Plan.

The new BTTC token would be primarily used for the following:

  • Becoming a validator on the BTTC network;
  • Staking on BTTC to gain rewards;
  • Participating in the governance of the BTTC community;
  • Paying for gas fees as a native token of BTTC.

BitTorrent gave until January 12, 2022, for exchanges, wallets, developers, and other partners to complete the redenomination and swap plan.

What is Binance?

Binance is the largest cryptocurrency exchange in the world and it was founded by Changpeng Zhao, also known as CZ who is a trading software developer and he had been leading the exchange since July 2017.

The exchange provides its users over 500 cryptocurrencies for trading, a massive selection of transaction types and they are one of the cheapest crypto trading platforms available in the market.

One of the key features of Binance that attracts users to their platform is its easy-to-use interface which allows newbie traders or experienced ones to use their platform with ease.

They also provide two options when it comes to digital currency trading which are the basic and advanced views. The only difference between the two is that the advanced one offers a more in-depth technical analysis of digital currency value over time.

When it comes to supported cryptocurrencies Binance had been one of the market leaders for its wide variety of supported coins and altcoins.

They also have their very own Binance Coin (BNB) which is their native crypto coin that powers the Binance ecosystem that can be used to pay for goods and services, settle transaction fees on Binance Smart Chain, participate in exclusive token sales, and more.

January has been BitTorrent’s month as they have been in the talks weekly from top crypto exchanges supporting the BTT redomination plan, the recent milestone of their total burned old BTT, and the growing number of contracts that exceeded over 63M and has a total revenue of 12B BTT.

Would we see something big with BTTC this year? Let us know in the comments below and share your thoughts about it.

For more news and updates, see Tron Spark.

Comments

Jino Tokieda

Former EMEA/APAC Operations Executive for a global photography company with 5 years of experience working with top technology companies in the US and have been involved with cryptocurrencies since 2019. Always been a fan of TRON and started getting into the TRX scene around 2020. Besides creating articles for Tron Spark, I'm a skateboarder and a full-time dad to two wonderful kids.

Binance: Opens BTTC Trading Today