In this guide you’ll get information about where to buy Bytom, if you are planning to buy BTM token – You’re in the right place!
Bytom is a decentralized blockchain protocol focusing on digital and financial asset applications. By using the protocol, both businesses and individuals are able to register and then exchange various kinds of assets. They are able to manage not only digital assets (like Bitcoin), but also traditional assets, including intelligence data, bonds, and securities.
The common issue is about the un-uniformed system of data and records. When we move the exchange ledgers and ownership records to the blockchain platform, the real world assets become tokenized. On the protocol level, there is no unified method to map the assets, transforming them from the physical world to the digital form. Not to mention that it’s difficult to ‘bridge’ the traditional system and the digital world together; which leads to the difficulty of making the tokenized world comes true. This is when Bytom’s function and use are needed.
Basically, Bytom wants to bridge the physical (or atomic) world and also the digital (or byte) world so they can construct a decentralized network. In this network, various atomic and byte assets can be exchanged, managed, and registered. There are 3 different Bytom assets that include income assets, securitized assets, and equity assets.
- Official website: https://bytom.io/en/
- Bitcointalk: https://bitcointalk.org/index.php?topic=1975390.0
- Twitter: https://twitter.com/Bytom_Official
- Reddit: https://reddit.com/r/BytomBlockchain
- Whitepaper: https://github.com/Bytom/wiki
Table of Contents
Bytom (BTM) Features
- New consensus. The platform has upgraded the sidechain structure and the mainchain, resulting in simplified token model. The platform comes with innovative BBFT and PoS consensus algorithm that delivers average confirmation up to 6 seconds. It also incorporates low carbon emission and energy saving system.
- New economy. The 2.0 Bytom comes with reformed economic model, together with higher node rewards, lower inflation, and lower total supply. The platform has its own unique system to deal with the economy.
- New platform. It delivers new developer ecosystem and smart contract platform. It comes with metaverse and NFT, allowing users to create precious NFTs within the Bytom metaverse. It also comes with robust oracle system, which provides broadcast services for the off-chain information. The platform also incorporates DeFi that isn’t only permisionless, but also open. Moreover, the scalable cross-chain system enables crypto assets transfer in an efficient and fast manner.
Where to Buy, Sell and Trade Bytom aka BTM
You can basically use debit card, credit card, or even PayPal to buy the Bytom (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Bytom as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Bytom. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Bytom currency and exchange your Ethereum / Bitcoin / Tether with the Bytom
- Store your Bytom to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.
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- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Bytom, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Bytom:
Gate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
- Trading Pairs: 1801+
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the BTM/BTC or BTM/ETH or BTM/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you BTM/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Bytom (BTM)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Bytom (BTM) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Bytom (BTM) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Bytom. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Bytom (BTM) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Bytom (BTM) with Skrill?
You can’t buy BTM directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Bytom. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Bytom (BTM) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTM/BTC and begin the transactions.
Can I Buy Bytom (BTM) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BTM/ETH trading pair.
What Is the Best Payment Method to Buy Bytom (BTM)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Bytom right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Bytom (BTM)?
Once you have purchased the Bytom, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Bytom (BTM)?
Find a crypto exchange which allow pairing BTM with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Bytom (BTM) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Bytom is to buy it from a reliable exchange.
Conclusion
In general, Bytom is about combining digital and traditional assets and they can trade those assets on Bytom protocol chain. With asset ownership and exchange record, the system is more efficient and safer, and it is definitely better than the currently available option. However, users can only join the platform if they buy Bytom (BTM), so be sure to buy it first.
