Discover how to buy BitTorrent Coin (BTT) easily with a credit card, find the cheapest buying options, and understand the fees involved across top platforms.
What Is BitTorrent (BTT)?
BitTorrent (BTT) is recognized as the largest peer-to-peer file-sharing network globally, having been established in 2001, predating the advent of blockchain technology and Bitcoin. In 2019, BitTorrent embraced blockchain technology, launching its own cryptocurrency, BitTorrent Token (BTT), under the ownership of the Tron Foundation — the entity behind the Tron (TRX) blockchain, known for its smart contract capabilities. This transition marked BitTorrent’s evolution into a blockchain-based platform, introducing various monetized services to enhance user experience.
The platform now offers BitTorrent Speed, which allows users to buy extra bandwidth from others for quicker downloads; Dlive, a streaming service enabling content creators to earn revenue; and the BitTorrent File System (BTFS), a decentralized storage solution. The BTT token facilitates transactions within this ecosystem, letting users pay for services like additional bandwidth, streaming content access, and more. Additionally, users can earn BTT by sharing their unused bandwidth, uploading their own video content, or providing storage space on their devices to others.
How to Buy BitTorrent Coin with a Credit Card
Buying BitTorrent Coin (BTT) with a credit card is straightforward. Here’s how to do it:
- Choose a Platform: Select a cryptocurrency exchange or platform that accepts credit card payments and offers BTT. Examples include Bybit and Binance.
- Create an Account: Sign up on the platform by providing necessary information. You may need to complete a KYC (Know Your Customer) process.
- Add Your Credit Card: Enter your credit card details under the payment methods section.
- Purchase BTT: Navigate to the section where you can buy cryptocurrencies directly with a credit card. Select BTT, enter the amount you wish to purchase, and confirm the transaction.
What is the Cheapest Way to Buy BitTorrent Coin?
The cheapest way to buy BTT often involves avoiding high fee payment methods like credit cards and opting for:
- Bank Transfers: Use platforms that support bank transfers as they typically have lower fees compared to credit cards.
- P2P Trading: Some platforms offer peer-to-peer trading, allowing you to buy BTT directly from sellers, potentially at better rates and lower fees.
What are the Fees to Buy BitTorrent Coin?
When buying BTT, you might encounter several types of fees:
- Credit Card Processing Fees: These can range from 1% to 5% of the transaction value, depending on the platform.
- Platform Transaction Fees: Exchanges charge a fee for each transaction, which can vary. Some offer lower fees for using their native token for transaction fees.
- Network Fees: Also known as gas fees, these are paid to miners or validators of the blockchain network. BTT being a TRC-10 token means transactions are on the Tron blockchain, which generally has low transaction fees.
- Withdrawal Fees: Some platforms charge a fee to withdraw BTT to your wallet.
Top Platforms to Buy BitTorrent Coin for Cheap
- Bybit: Known for its user-friendly interface and competitive fees, Bybit offers direct purchase options for BTT using credit cards and other payment methods.
- Binance: Offers a wide range of cryptocurrencies including BTT, with relatively low fees for bank transfers and options to reduce fees further using BNB for transactions.
- KuCoin: Another popular exchange that features a variety of cryptocurrencies, including BTT. It has competitive fees and supports a range of payment methods.
- Huobi: With a robust platform that supports a multitude of cryptocurrencies including BTT, Huobi often has competitive fees and provides a secure trading environment.
To ensure you get the best deal when purchasing BTT, compare the fees across these platforms, consider the payment method that suits you best, and keep an eye out for any promotions or discounts on transaction fees.