Poloniex, one of the leading cryptocurrency exchange has announced that they are supporting the Bitcoin on TRON (BTCTRON) early this month and Poloniex users will be able to use the Swap feature to exchange their Bitcoin to BTCTRON for free directly from their Poloniex Wallet. BTCTRON is a wrapped Bitcoin under the TRON blockchain and let’s get to know more about BTCTRON.
— Poloniex Exchange (@Poloniex) October 1, 2020
What is BTCTRON?
BTCTRON is a type of wrapped Bitcoin token available on the TRON blockchain. BTCTRON can be used to sent Bitcoin on the TRON Blockchain and on Poloniex Exchange, users can be able to redeem BTCTRON 1:1 to the value of Bitcoin (BTC).
BTC on TRON is still in its early stages and further developments will be implemented soon, such as yield farming and using BTCTRON as a transport layer for quickly sending Bitcoin between addresses.
Also, users may have the option to swap back their BTCTRON back to BTC, the same way on how users converted BTC to BTCTRON and there are no fees associated with swapping BTC to BTCTRON or BTCTRON to BTC.
What is Poloniex?
Poloniex is one of the leading cryptocurrency exchanges that was launched in 2014 and is based out of Wilmington, Delaware, in the United States. It was very previously acquired by Circle, a Goldman-Sachs backed company.
The exchange also provides its customers with a secure trading environment and advanced charts and data analysis tools. The platform enables users to buy and sell cryptocurrencies such as litecoin, namecoin, dogecoin, and more.
What an amazing time to be part of the TRON community and TRON Foundation have been raising the bar when it comes to the possibilities and pushing the boundaries on TRON and the future looks bright for BTCTRON.
TRON’s token wrapping technology has made waves in the industry and adding BTCTRON on Poloniex, this will be another achievement for both TRON and Poloniex.
For more news and updates, see Tron Spark.