What is BitDAO (BIT)?
BitDAO is a decentralized project launched on Ethereum Blockchain developed by an Decentralized Autonomous Organization (DAO). It provides a decentralized platform for storing and selling crypto assets. BitDAO has its native token to ensure the transparency of a platform known as “BIT”. The idea behind the creation of BIT token was to create a single decentralized token economy for transactions.
The ecosystem is monitored by its token holders. Who may propose and vote on modifications to the organization’s operation? This allows for decentralized and open platform management with decisions made by the community rather than a single authority. The BitDAO platform has several features including a decentralized exchange, a liquidity pool, and a platform for token issuance.
The decentralized exchange allows for the decentralized and trust-free trade of digital assets. In exchange for incentives, users can use the liquidity pool to contribute liquidity to the platform. BitDAO holders can engage in platform governance by voting on suggestions and collecting rewards for contributing to ecosystem activities. The BitDAO coin is also used to transfer wealth inside the BitDAO ecosystem.
Through co-development opportunities and token trades, the BitDOA protocol strives to assist the growth and evolution of both new and current developers. The token trades are intended to develop BitDOA treasu by gathering the platform’s top cryptocurrency programs and assets with an emphasis on current decentralized exchanges.
The protocol also intends to develop key products that will allow BitDOA and other decentralized organizations to be integrated into its platform enabling effective functionality. Treasury executives will be able to monitor and use digital assets for rewards with the help of these key products which also contain a number of off-chain and on-chain governance solutions. BitDOA intends to award funding to research teams that develop public goods for the blockchain sector.
Who created the BitDAO token?
BitDAO is a decentralized project with no specific founders. It is maintained by a community of contributors who hold BIT tokens. Bybit an exchange platform is a supporter of BitDAO. It has committed to ongoing contributions to the BitDAO treasury which exceed one billion dollars per year. Additionally, when it initially launched, BitDAO raised $230 million in a funding round led by Peter Thiel, Founders Fund, Pantera Capital, and Dragonfly Capital.
BitDAO vs SUSHI
Sushiswap is a decentralized exchange (DEX) that lets users trade Ethereum-based tokens in an environment that is trustless, permissionless, and noncustodial. It provides liquidity to its consumers using an automated market maker (AMM) approach. SUSHI, Sushiswap’s governance token, allows holders to vote on protocol improvements and adjustments.
BitDAO on the other hand is not an Exchange but rather an Ecosystem that supports Developers to create DEX and other DApps to increase the usability of the blockchain industry in all life sectors. Just like SushiSwap, it also has governance model and give token holders the ability to dictate the future decisions of platform.
Where to buy BitDAO?
BIT is a deflationary cryptocurrency with a maximum and total supply of ten billion. It can be easily traded on centralized and decentralized exchanges. It can be swapped with fiat currency, for example, with USD and EUR, as well as with other known cryptocurrencies such as BTC, ETH, USDT, USDC, and others.
BitDAO token can be bought at different cryptocurrency exchanges, such as the following.
- Kraken and more.
How to buy BitDAO
To buy BIT token from the ByBit exchange, you will need to follow these steps.
1. Create a Bybit account
Go to the Bybit website and register by providing your email address and creating a password. To activate your account then, verify your email address.
Verify your email address and complete the necessary identity verification processes.
Add funds to your account:
Log in to your Bybit account and go to the Deposit page. Add funds to your account by depositing cryptocurrencies such as BTC, ETH, and XRP.
3. Select the BitDAO trading pair
Go to the Trade page and select the BitDAO trading pair.
4. Place a buy order
On the right side of the page, you will see the Buy section. Enter the amount of BitDAO you wish to purchase or the amount of BTC you wish to spend. Click on the Buy button to place your order.
5. Execution of the order
The order will be executed once it matches the corresponding sell order on the exchange.
6. Viewing the BitDAO balance
Once your order is filled, you can view your BitDAO balance on the Wallets page of your Bybit account.
How to stake BitDAO
Staking BitDAO refers to holding and locking up a certain amount of BitDAO tokens in your wallet for a specific period of time in order to earn interest or rewards on it. This process is often used to support the network and to secure the blockchain community. By staking BitDAO, you can earn a share of the transaction fees and also rewards generated by the BitDAO network. There are plenty of ways to stake your tokens. Exchanges like Coinbase, Kraken, and more also allow users to Stake BIT tokens and earn rewards.
BitDAO Price Prediction
The BitDAO value is expected to increase as a result of the efforts of network developers and community investors. Analysts predict that BIT will reach a maximum price of $1.83 by the end of 2025. Cooperation with financial institutions could push BIT to reach $2.67 by 2026.
By 2027, BIT is forecasted to have a maximum value of $3.79 with a minimum price of $3.25 in a bullish market. In 2028, the BitDAO token price may surpass $5.59 during a strong bull run. The average forecast for 2028 is around $4.90.
Predictions for future price fluctuation are uncertain, particularly during significant market shifts. In 2029, the BitDAO token price is expected to be $6.58, with a maximum potential of $8.21. The year may end with an average forecast of $6.78. BitDAO has the potential for growth through collaborations and innovations, which may increase its user base.
A market focus on investing in BitDAO token could result in a higher price. By 2030 BIT token may reach a maximum value of $11.43, with an average forecast of $9.95 and a minimum price of $9.61.
Is BitDAO crypto a Good Investment?
One of the main appeals of cryptocurrency investment is the potential for high return, BUT it is important to note that cryptocurrency investments come with a high degree of risk. Prices can fluctuate madly, and there is always the possibility of losing your entire investment.
Before making any investments in cryptocurrency, it is important to do thorough research and consider various factors. This includes understanding the technology behind the coin, the team developing it, and the potential use cases for the coin. It is also important to consider the overall market conditions and general sentiment toward the coin.
It is also important to keep in mind that cryptocurrency is a highly speculative market. So before making any investment decision, don’t forget to consider the risk involved in such types of investments.
However, it may be worth considering investing in BitDAO if you are interested in digital currencies. This type of investment may have the potential to be highly profitable in the long run. Additionally, it is projected that the value of BitDAO could reach its highest point ever in the near future, assuming favorable market conditions.
Is BitDAO crypto safe?
The BitDAO Platform uses SSL encryption to protect the personal information of its users. Also, BitDAO has formed a partnership with Amber, a company that specializes in cyber and crypto security and offers advanced security infrastructure such as Fireblocks and BitGo.
The platform is owned and governed by BIT token holders, and all actions, such as token trade, treasury allocation, liquidity support, grants, and updates to the core protocol, are only taken after a successful proposal and vote by the community.
Moreover, BitDAO’s main characteristic is its decentralized governance, where decisions on managing and investing the fund are made by elected “governors” chosen by the community through voting. This structure provides transparency, accountability, and potential for better investment strategies. Additionally, it ensures that the users’ interests are considered in decision-making rather than being controlled by a central authority.
BitDAO has been designed to be a prominent figure in the tokenized economy in the long run, thanks to its open and comprehensive DAO governance structure. The potential applications of the protocol are vast, as its mission can be extended to various other cryptocurrency platforms through partnerships and integrations.
Here are some factors that investors should consider before investing in BitDAO.
|Publisher or Developers
|Headquarters (Registration Number)
|Published Date (CMC Registration)
Reliability Score of BitDAO in 2024
These are indexes mesuring the investment reliability of BitDAO conducted by Coin-Labs.com.
|Investment Reliability Rating Items
|Scores and Current Status
|Company Activation Rate
|6.6 / 10.0 CAR
|7.0 / 10.0 CR
|Technology Transparency Rate
|3.2 / 10.0 TTR
|Development Participation Rate
|4.9 / 10.0 DPR
|Listing Status on the World's Top 10 Exchanges
|Listed on 2 Exchanges
|Number of Available Pairs Worldwide
|Market Cap of the Cryptocurrency
|0 USD (Rank #2429)
Here are the price and recent trading volume of BitDAO. (Data of 2024-02-23 14:55:00)
|Price and Trading Volume of BitDAO
|Price Change 24h
|Price Change 7d
|Trading Volume 24h
|Trading Volume Change 24h
You can check the development status and social media information of BitDAO through the links in the table below.
|🌎 Official Website
|📖 White Paper
|🛰️ Source Code (GitHub)
|🎺 Message Board
Where to Buy BitDAO
Here are the top ten world crypto exchanges where traders can buy BitDAO in 2024.
Frequently Asked Questions
What is the current price of BitDAO?
BitDAO price today is 0.000 USD. Furthermore, the price of BitDAO has fluctuated by -2.77% from 24 hours ago, and by 6.54% from a week ago.
Where is BitDAO listed?
Currently, it is listed on a total of 2 among the world top 10 exchanges.
What is the market cap of BitDAO now?
Currently, BitDAO has a market cap of 0 USD, which is ranking 2429 among cryptocurrencies worldwide.
How much is the trade volume of BitDAO?
Currently, 0 BIT coins are circulating through 17 market pairs. As a result, in the last 24 hours, 2,001,265 USD of BIT coins were traded in the market.