Bitcoin BEP2 (BTCB) is a token on the Binance Chain. Each BTCB is 100% backed by a BTC reserve, with the price pegged to Bitcoin at a rate of 1 BTCB = 1 BTC. The reserve address for verification is publicly available to anyone at any time.

The Binance cryptocurrency exchange has published the reserve address to demonstrate the transparency of the Bitcoin BEP2 project, as well as to pique the interest of third parties who can freely check the contents of the Bitcoin pool and compare the data with the number of BTCB tokens issued. The project forms part of Binance’s endeavor to provide affordable trading opportunities for users of its decentralized exchange (DEX) – one of the main services supported by Binance Chain.

Since its launch on April 18, 2019, Binance Chain has been able to achieve good results regarding decentralization and interoperability in a quite short time. Binance Chain Evolution Proposal 2 (BEP2) was launched in June 2019, outlining a set of technical features, rules and management criteria that tokens must meet in order to function properly in the Binance Chain ecosystem.

Changpeng Zhao (aka CZ in the crypto community) is the founder and CEO of Binance, which grew to become the world’s largest crypto exchange by daily traded volume within just 180 days. He is a graduate of McGill University in Montreal with a degree in computer science. As a coder who gained experience building high frequency trading systems, he has been concentrating on blockchain technology since 2013 and has completely immersed himself in the world of cryptocurrencies.

CZ is also CEO at BijieTech, which he founded in 2015. Prior to BijieTech, Zhao was the co-founder and CTO of OKCoin, around the same time he launched his own futures platform. He has also worked at Blockchain.info as the head of the technology department. In 2017, he officially launched Binance.

What Makes Bitcoin BEP2 (BTCB) Unique?

As Bitcoin is not strong when it comes to DeFi, developers are constantly looking for workarounds and struggle with obstacles that include high fees and a cumbersome process for creating smart contracts. Bitcoin BEP2 is a Bitcoin clone issued on Binance Chain. Its price is always as close as possible to the price of the underlying asset – Bitcoin – and each BTCB is backed by an actual BTC.

The pegged BTCB tokens are therefore 100% backed by their own reserve coin, Bitcoin. The advantages of using BTCB include:

• Since the release of BTCB, traders on Binance DEX have had the opportunity to trade BTC, even if the BTC is hosted on a completely different blockchain. BTCB therefore provides Binance DEX traders with access to even more trading pairs, resulting in increased trading volumes.
• As the range of available assets has grown, so has liquidity, which is an advantage for users of the exchange.
• Binance has sealed a strong reputation over the years and has earned the trust of its users, so many users are willing to store their BTC on the platform in order to access BTCB.
• On Binance Chain, anyone can check the BTC reserves at any convenient time, which attests to the project’s high degree of transparency.
• Exchange representatives claim that while this approach is more centralized than atomic swaps, it is easier to understand and master for most traders.
• If developers wish to transfer their assets to Binance Chain, the platform actively promotes this and streamlines the process.

The all-time high of BTCB was 85,563.99 USD on 2019-10-21, from which the coin is now down 0%. The all-time high price of Bitcoin BEP2 (BTCB) is 85,563.99. The current price of BTCB is down 0% from its all-time high.

As of , there is currently 65,173.37 BTCB in circulation. BTCB has a maximum supply of 0.

The current market cap of BTCB is 6.33Bn. It is calculated by multiplying the current supply of BTCB by its real-time market price of 97,133.06.

The all-time low of BTCB was 0.07685266 , from which the coin is now up -100%. The all-time low price of Bitcoin BEP2 (BTCB) is 0.07685266. The current price of BTCB is up -100% from its all-time low.

Bitcoin BEP2 (BTCB) has a market capitalization of $6.33Bn and is ranked #28 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Bitcoin BEP2 (BTCB) price trends and patterns to find the best time to purchase BTCB.