How to buy Bitcoin BEP2 (BTCB) in Australia

A beginner's guide to buying and selling BTCB in Australia.

Bitcoin BEP2
BTCB- USD
$32,556.00
+$170.98 (+0.53%)

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

How to buy Bitcoin BEP2

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Bitcoin BEP2.

  1. Open an account on an exchange that supports BTCB.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Bitcoin BEP2.
  3. Buy Bitcoin BEP2.
    Complete your Bitcoin BEP2 purchase and then find the best wallet to store BTCB.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is Bitcoin BEP2?

Bitcoin BEP2 is a crypto-pegged token on the Binance chain. This blockchain was created aimed at becoming an efficient platform for issuing and trading tokens. BEP2 is a technical standard used for implementing rules on the Binance chain. Therefore, Bitcoin BEP2 (BTCB) is a tokenised version of Bitcoin, backed 100% by the reserves of that asset. It uses the consensus mechanism and rules built for the Binance chain, and is only available for interaction on the Binance chain and the Binance DEX (decentralised exchange). Its main purpose is to raise trading volume and increase liquidity for Bitcoin trading within the Binance ecosystem. At the time of writing this review, it has a total supply of roughly 80,000 tokens.

Bitcoin BEP2 (BTCB) is in the top 1,000 cryptocurrencies in the world by market cap. The current price of Bitcoin BEP2 is $32300, which is 0.846% higher than yesterday. Prices have ranged between $32884 and $32029 over the past 24 hours. All prices are listed in US dollars and accurate as of July 23, 2021 11:07 UTC.

Where to buy Bitcoin BEP2

Find an exchange to buy, sell and trade BTCB by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
Cryptocurrency, Epay
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
loading

Compare up to 4 providers

Bitcoin BEP2 at a glance

Information last updated July 23, 2021 11:07 UTC.
Coin symbolBTCB
Total BTCB supply9,001
Circulating BTCB0
Current priceUS$32300
All time highUS$71,906.00
All time high dateApril 16, 2021
IndustryBitcoin-backed token
Token usesCryptocurrency
NetworkBinance Chain

Bitcoin BEP2 price performance over time

Historical prices compared with the price of US$32300.

1 hourN/A
24 hours 0.85%
7 days 2.54%
14 days -1.86%
30 days -0.65%
60 days -7.51%
200 days -1.18%
1 year 242.27%

How to sell Bitcoin BEP2

You can cash out your BTCB with the same exchange you bought it through:

  1. Sign in to the exchange you have BTCB on.
    If you store your Bitcoin BEP2 in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of BTCB you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Bitcoin BEP2.

What to consider when buying Bitcoin BEP2

Bitcoin BEP2 token is a Binance native asset, which allows for easy-to-use functionalities within the ecosystem. Its price is pegged to Bitcoin, and increases trading volume for Bitcoin trading.
  • Centralisation. This is an important concern with regards to Bitcoin BEP2. The Binance chain, on which BTCB is launched and traded, only allows 11 validators, all of which have been selected by Binance. Due to this single point of failure, if anything were to happen to Binance, the Bitcoin BEP2 token would also be susceptible to vulnerabilities.
  • Competitors. This is not the only tokenised version of Bitcoin. Wrapped Bitcoin which is used on the Binance Smart Chain and RenBTC, which runs on the Ethereum blockchain using the RenVM protocol, are 2 other alternatives.
  • Not the real thing. Given Bitcoin BEP2 is a crypto-pegged token on the Binance Chain, keep in mind you are not buying the asset itself. You are essentially buying a tokenised version of Bitcoin. This means it can only be used for interacting with protocols on Binance and the Binance DEX, but cannot be used in conjunction with the Bitcoin mainnet, or other blockchains. It's also important to remember that when withdrawing Bitcoin from Binance into a personal wallet or another exchange, proper protocol must be used. BEP2 tokens only work within the Binance ecosystem.
  • Intermediate entry barrier. Binance requires an intermediate level of expertise when interacting with its blockchain. Because it allows Bitcoin on its standard trading, when using Bitcoin BEP2 on its DEX, it can overcomplicate a beginner. We recommend having the appropriate level of knowledge before interacting with Bitcoin BEP2 and the Binance DEX.

Disclaimer: Cryptocurrencies, including Bitcoin BEP2, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BTCB 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 Bitcoin BEP2 or any other cryptocurrency discussed.

More guides on Finder

Get into cryptocurrency

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site