How to buy BTC Standard Hashrate Token (BTCST) in Australia
Learn how to buy BTC Standard Hashrate Token (BTCST) easily by following a step-by-step guide and compare 10+ crypto exchanges.
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How to buy BTC Standard Hashrate Token
Look for an exchange that supports both fiat and cryptocurrency to simplify buying BTC Standard Hashrate Token.
- Open an account on an exchange that supports BTCST.
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.
- 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 BTC Standard Hashrate Token.
- Buy BTC Standard Hashrate Token.
Complete your BTC Standard Hashrate Token purchase and then find the best wallet to store BTCST.
What is BTC Standard Hashrate Token?
Bitcoin Standard Hashrate Token, or BTCST, is a token collaterallised by the Bitcoin (BTC) hash rate. Like other hash rate tokens, it is a synthetic asset deriving its value from a portion of Bitcoin’s mining hash power. Each token represents 0.1 TH/s of Bitcoin mining power at 60 W/TH efficiency. The Bitcoin Standard Hashrate blog highlights that any miner/user can contribute power to the platform and receive BTCST tokens. The objective behind the token is to bring liquidity to Bitcoin mining and allow any user to gain exposure to mining rewards and hash power. The project launched in December 2020 on Binance Smart Chain (BSC). It is backed by industry-scale Bitcoin miners including Binance, Genesis Mining and Token Pocket. The project represents a claimed 12% of the global hash rate. Users can stake BTCST in the platform to receive daily BTC contributions. Rewards correspond to the staked mining power. Users can also earn BTCST tokens by locking up BNB, BUSD, and BTC into different pools.
BTC Standard Hashrate Token (BTCST) is the 319th largest cryptocurrency in the world by market cap, valued at $229,186,492. The current price of BTC Standard Hashrate Token is $31.45, which is 3.049% higher than yesterday. Prices have ranged between $32.3 and $29.71 over the past 24 hours. All prices are listed in US dollars and accurate as of November 29, 2021 04:11 UTC.
Where to buy BTC Standard Hashrate Token
Find an exchange to buy, sell and trade BTCST by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Is it a good time to buy BTC Standard Hashrate Token?
The technical analysis gauge for BTC Standard Hashrate Token displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of BTC Standard Hashrate Token based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of BTC Standard Hashrate Token: moving averages, oscillators and pivots. Finder is not responsible for how BTCST performs.
BTC Standard Hashrate Token at a glance
|Total BTCST supply||15,000,000|
|All time high||US$91.94|
|All time high date||April 15, 2021|
|Partnerships||BTC.TOP, Easy2Mine, Genesis Mining, Atlas Mining, Hengjia Group|
|Network||Binance Smart Chain, TRON|
BTC Standard Hashrate Token price performance over time
How to sell BTC Standard Hashrate Token
You can cash out your BTCST with the same exchange you bought it through:
- Sign in to the exchange you have BTCST on.
If you store your BTC Standard Hashrate Token in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of BTCST you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of BTC Standard Hashrate Token.
What to consider when buying BTC Standard Hashrate TokenHashrate tokens are relatively new to the cryptocurrency industry and, therefore, risks should be evaluated thoroughly. Below are some factors to keep in mind before purchasing BTCST:
- Supply. At the time of writing, there is a circulating supply of approximately 8.4 million tokens. The maximum supply is capped at 15 million. The project has not experienced any private or public sales. BTCST tokens are only issued when eligible miners standardise and tokenise their BTC hash rate.
- Governance. The platform is governed in the form of a Decentralized Autonomous Organization (DAO). This means it is a democratic, community-driven platform where token holders and miners have the authority to make decisions regarding development. The community can collectively decide on issues related to the project and participate in proposals.
- Community Redenomination Vote. The community of BTCST token holders initiated a proposal in February 2021 to vote for an adjustment to the issuance of tokens. A proposal was made to increase the maximum supply to 15 million. The overall value and market cap of the token remained the same. After the vote, all BTCST holdings increased by a ratio of 1:10. This means each BTCST token now represents 0.01TH/s, instead of the original 0.1TH/s. The redenomination enables more investor participation and meets the strong demand for the BTCST token.
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Disclaimer: Cryptocurrencies, including BTC Standard Hashrate Token, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BTCST 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 BTC Standard Hashrate Token or any other cryptocurrency discussed.
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