Bitcoin BSC (BTCBSC) has just launched as a high-potential proof-of-stake token that will allow users to generate rewards every 10 minutes.
The project, built on the Binance Smart Chain, mirrors Bitcoin as it was in April 2011 – priced at $0.99 and with a circulating supply of around 6 million.
Bitcoin BSC has significant advantages over buying BTC in 2023, not only because of the vast price difference but also because of the huge staking rewards and room for growth.
BTC20, a similar concept that was released earlier this year on Ethereum, sold out its $6 million presale in just two weeks and went on to make 600% gains after launch.
Analysts believe BTCBSC could do the same when it launches in the coming weeks.
What is Bitcoin BSC?
The bitcoinbsc.io website is offering crypto investors the chance to purchase Bitcoin as it was in April 2011, with some added benefits.
Having just launched its presale, BTCBSC is priced at $0.99 with 6.125 million tokens available, the same figure as the circulating BTC supply at that time.
However, while Bitcoin has a proof-of-work (PoW) consensus mechanism, BTCBSC works off of PoS, meaning it is much more efficient and also allows users to lock their tokens in a staking pool and generate rewards.
Earn Large Staking Rewards
The project is offering rewards of 0.25 BTCBSC per BSC block, with rewards paid out every ten minutes.
At the time of writing, the project is offering an estimated annualized yield percentage of 166,540% – however, it has only just launched and only 1,500 tokens have been added to the pool so far.
As more tokens are added the APY will come down, with 14.5 million tokens set to locked into the staking pool.
Rewards are still expected to outstrip other notable PoS tokens, with the likes of Ethereum (typically 4-5%), Solana (6-7%) and Cardano (5-10%) offering much lower figures.
Bitcoin BSC also follows the Bitcoin mold by having a 120-year unlocking schedule, giving the project huge longevity.
PoS Out-Performs PoW
Although Bitcoin is the original cryptocurrency, as well as being the largest and most successful, there are not actually that many uses for it.
Most holders see it as a store of value or ‘digital gold’ and its usefulness day-to-day has long been questioned.
That’s because it works off of PoW and takes needs miners to validate transactions – an extremely difficult and expensive process that is essentially off-limits for the average person and is dominated by multi-million-dollar mining firms.
Proof-of-Stake, on the other hand, is much faster and more efficient than PoW and with the Binance Smart Chain being built on the same code as Ethereum has proven security and smart contract capabilities.
That means that as well as transactions being much quicker to process than Bitcoin, Bitcoin BSC transactions are also faster and cheaper than Ethereum transactions, as no gas gees are required.
Tokenomics and Presale Info
Bitcoin BSC mirrors Bitcoin so there is a max supply of just 21 million tokens.
Like with Bitcoin in April 2011, 6.125 million have been allocated to the presale, with an initial 4 million available and 2.125 million in reserve for an oversupply.
That means the hard cap stands at $3.96 million, but should that sell out quickly, the other 2.125 million tokens will be added to the presale – with any unsold tokens then added into the staking pool.
The presale represents 29% of the overall supply, with no vesting period, with 14.455 million BTCBSC (69% of the total) making up the staking pool and vested over 120 years, like Bitcoin,
A small allocation of tokens – 420,000 (2%) – of pre-mined tokens will also be reserved for a launch on decentralized exchanges after the presale is sold out.
The presale is now open with buyers able to purchase with BNB, ETH or USDT.