SBTC

Overview of SBTC

Super Bitcoin (SBTC) is a type of cryptocurrency that was founded in 2017 by Liang and Ranger Shi. It is a digital asset that is mainly traded on cryptocurrency exchanges such as CoinCarp, BYDFi, and Bitfinex. They are often used in decentralized finance (DeFi) applications, allowing users to gain exposure to the price of Bitcoin without needing to hold BTC directly. For safe storage of Super Bitcoin, several wallet options exist including, but not limited to, the Ledger Nano S/X, Trezor, and Electrum.

Pros and Cons

Pros of SBTC token:

1. Supported by Several Major Exchanges: The SBTC token is widely recognized and supported by major exchanges. These include CoinCarp, BYDFi, and Bitfinex. This widespread acceptance allows for an easy and efficient trading process for those who hold the token.

2. Multiple Wallet Support: Users of SBTC have a range of wallets options where they can keep their tokens. Options include the Ledger Nano S/X, Trezor, and Electrum. This gives users flexibility in terms of the wallets that they use for their tokens.

3. Based on Bitcoin: SBTC is based on Bitcoin, one of the most recognized and established cryptocurrencies. This brings with it a level of familiarity for users, making it easier for those who have interacted with Bitcoin before to understand and use this coin.

4. Faster Block Creation: SBTC has been applauded for its faster block creation compared to Bitcoin. This essentially means transactions can be processed at a quicker rate, improving the overall user experience when trading with SBTC.

Cons of SBTC token:

1. Relative Newness: SBTC was founded in 2017, making it younger than some other widely known cryptocurrencies. This could mean it's less established and may not have the same degree of trust that more fully matured coins have earned.

2. Low Market Capitalization: Compared to other cryptocurrencies, SBTC has a lower market capitalization. This means there's less cash invested in this coin, potentially making it less valuable and with smaller growth prospects compared to larger, more established cryptocurrencies.

What Makes SBTC Unique？

Super Bitcoin (SBTC) is a cryptocurrency that was launched in 2017. Its establishment is primarily based on the Bitcoin protocol, with the introduction of certain improvements aimed at enhancing the overall functionality and user experience. These changes differentiate SBTC from other cryptocurrencies and represent its innovation in the digital currency sphere.

One key innovation of SBTC comes from its block size. SBTC has an expanded block size of 8MB, compared to Bitcoin's 1MB. This allows for a larger number of transactions to be processed within each block, potentially speeding up overall transaction processing times and improving scalability.

In addition, SBTC supports smart contract technology, a feature not available in the original Bitcoin protocol. This feature can automate transaction execution when specified conditions are met, potentially broadening the use of SBTC beyond simple transactions.

How does SBTC Work？

Super Bitcoin (SBTC) operates based on a peer-to-peer technology known as blockchain, a similar model to the original Bitcoin protocol. This decentralized model involves the operation of a network of computers that validate transactions and add them to a public ledger known as the blockchain. SBTCs blockchain operates on the proof-of-work consensus algorithm, which requires miners to solve complex mathematical problems to add a new block to the chain.

One notable characteristic of SBTC is its larger block size, set at 8MB compared to Bitcoin's 1MB. This larger block size allows for more transactions to be processed in each block, potentially accelerating transaction times and enhancing the scalability of the system.

In addition to its standard transaction capabilities, SBTC supports the use of smart contracts. A smart contract is a self-executing contract with the agreement terms directly written into code. This means that once certain predefined conditions within the contract are met, the contract completes itself, without the need for further confirmation or intervention from the participants.

The increased block size, combined with the introduction of smart contracts, is geared towards addressing some of the limitations of the original Bitcoin, particularly concerns regarding speed, scalability, and versatility.

Market & Price

Airdorp

There currently aren't any legitimate airdrops happening for Super Bitcoin (SBTC).

Price

The total circulating supply of SBTC as of September 25, 2023 is 100 million. This means that this is the total amount of SBTC that is currently in circulation and available for trading.

The price of SMT has fluctuated significantly since its launch. It reached an all-time high of $0.73 in January 2018, but has since fallen to its current price of around $0.05.

Exchanges to Buy SBTC

There are multiple popular cryptocurrency exchanges that recognize and support the trading and purchase of Super Bitcoin (SBTC). For the most accurate and current information, its advisable to refer to the individual exchange platforms. However, some exchanges known to support SBTC trading include:

1. CoinCarp:

• Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. ( Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.

• Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account. You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.

• Step 3: Use fiat to buy USDT, ETH, or BNB. You can use the service provided by the CEX which supports OTC trading or use the financial service platform(Paypal, or Robinhood, available for US residents) that supports funding via either your bank account or credit card.

• Step 4: Transferring your USDT, ETH or BNB, etc. purchased by fiat to the CEX that supports Super Bitcoin(SBTC) trading in spot market. If the CEX that you're using both supports purchasing USDT, ETH, or BNB via fiat, and Super Bitcoin(SBTC)-USDT, Super Bitcoin(SBTC)-ETH, or Super Bitcoin(SBTC)-BNB, etc, trading pair, then you can trade in the same platform and don't need to transfer to another platform that supports Super Bitcoin(SBTC).

• Step 5: Buy Super Bitcoin(SBTC) in spot market by USDT, ETH, or BNB.

See this link for details on how to buy SBTC: https://www.coincarp.com/investing/how-to-buy-supersbtc/

2. BYDFi:

• Step 1: Open BYDFi account for free

  Sign up for BYDFi with your email/mobile number and create a strong password to protect your account.

• Step 2: Keep your account safe

  Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.

• Step 3: Verify account

  Enter your personal information and upload a photo of your valid ID cardVerify your personal identity.

• Step 4: Add payment method

  Once your BYDFi account is verified, add credit/debit card or bank account.

• Step 5: BuySBTC (super bitcoin)

  There are various payment methods available to purchase SBTC on BYDFi.

See this link for details on how to buy SBTC: https://www.bydfi.com/en/how-to-buy/sbtc

3. Bitfinex: Bitfinex supports SBTC trading, generally with SBTC and USDT pairs.

4. HitBTC: On HitBTC, one can trade SBTC against other cryptocurrencies such as SBTC and USDT.

5. CoinEgg: CoinEgg also provides a platform for trading SBTC, predominantly using SBTC and USDT pairs.

6. Binance: One of the largest and most popular cryptocurrency exchanges, Binance facilitates trading of SBTC with several crypto pairs.

7. KuCoin: KuCoin allows SBTC trading, usually with cryptocurrency pairs such as SBTC and USDT.

8. Poloniex: Poloniex provides a platform for trading SBTC and commonly supports pairs like SBTC/BTC and SBTC/USDT.

9. Bittrex: Bittrex enables trading of SBTC typically against cryptocurrencies like SBTC and USDT.

10. Kraken: Kraken is another exchange that facilitates the trade of SBTC with other crypto pairs.

How to Store SBTC？

Super Bitcoin (SBTC) can be stored in various types of wallets, from dedicated SBTC wallets to multi-cryptocurrency wallets.

• Ledger Nano S/X: Ledger hardware wallets are among the most secure options available. They support a wide range of cryptocurrencies, including Bitcoin, and offer robust security features to keep your SBTC safe.

• Trezor: Similar to Ledger, Trezor hardware wallets provide excellent security for storing Bitcoin and other cryptocurrencies. They are user-friendly and support multiple digital assets.

• Electrum: Electrum is a popular desktop wallet known for its speed and security. It's compatible with Bitcoin and supports features like multi-signature transactions, making it a solid choice for SBTC storage.

• Exodus: Exodus is a versatile desktop and mobile wallet that supports a variety of cryptocurrencies, including Bitcoin. It offers a user-friendly interface and built-in exchange features for easy asset management.

• Atomic Wallet: Atomic Wallet is a decentralized multi-asset wallet available for desktop and mobile devices. It supports Bitcoin and numerous other cryptocurrencies, providing users with full control over their private keys.

• Coinomi: Coinomi is a mobile wallet that offers support for a wide range of digital assets, including Bitcoin. It features strong security measures and is available on both iOS and Android devices.

• Trust Wallet: Trust Wallet is a mobile wallet that supports Bitcoin and many other cryptocurrencies. It's known for its user-friendly interface and integration with decentralized finance (DeFi) platforms.

• MyEtherWallet (MEW): While primarily an Ethereum wallet, MEW can also be used to store tokens based on the Bitcoin protocol (such as SBTC) when used in conjunction with hardware wallets like Ledger or Trezor.

• MetaMask: MetaMask, a browser extension wallet primarily used for Ethereum and Ethereum-based tokens, can also be utilized with hardware wallets to store Bitcoin-based tokens like SBTC.

• Bitpie Wallet: Bitpie is a mobile wallet known for its support of multiple cryptocurrencies, including Bitcoin. It offers features like multi-chain asset management and secure storage options.

Is It Safe？

Using a hardware wallet can indeed enhance the security of storing SBTC. Hardware wallets like Ledger Nano S/X or Trezor offer robust security features, such as storing private keys offline and requiring physical confirmation for transactions. Since SBTC is typically based on the Bitcoin protocol, you can use these hardware wallets to store SBTC securely.

The security of exchanges offering SBTC trading would depend on the specific exchange. It's crucial to evaluate factors such as the exchange's reputation, security measures (such as two-factor authentication and cold storage), regulatory compliance, and any past security incidents. Look for exchanges that have strong security protocols in place and adhere to industry standards for safeguarding users' funds and data.

When transferring SBTC or any cryptocurrency, it's essential to use a secure token address. This involves verifying that the address you're sending SBTC to is correct and hasn't been tampered with. Always double-check the recipient's address and consider using features like QR code scanning to ensure accuracy.

How to Earn SBTC Cryptocurrency？

There are a few ways to earn Stacks Bitcoin (sBTC):

1. Stacking: This is the most common method and involves locking up your existing sBTC tokens in a smart contract to support the security of the Stacks network. In return, you earn rewards in the form of newly minted sBTC.

2. Liquidity Mining: This involves providing liquidity to DEXs on the Stacks network by depositing your sBTC tokens along with another cryptocurrency (like USDT) into a liquidity pool. You'll earn rewards based on trading fees generated on the pool.

3. Participating in the Stacks Ecosystem: Some projects or applications built on the Stacks network may offer incentives for users who interact with their platforms. These incentives could be in the form of sBTC rewards.

4. Earning Through Microtasks or Airdrops (Less Likely): While less common, there might be occasional opportunities to earn small amounts of sBTC through microtask platforms or airdrops from new projects on the Stacks network. Be cautious of scams and only participate through reputable sources.

FAQs

Q: Which exchanges recognize SBTC？

A: Several well-known exchanges including, CoinCarp, BYDFi and Bitfinex, allow for the trading and purchasing of SBTC.

Q: How can I securely store SBTC？

A: SBTC can be securely stored in either hot wallets, such as the Trust Wallet, or in cold storage wallets like Ledger and Trezor, which are offline.

Q: What differentiates SBTC from other cryptocurrencies？

A: SBTC distinguishes itself from other cryptocurrencies by its larger block size of 8MB and the inclusion of smart contract technology, unavailable in the original Bitcoin protocol.

Q: Who should consider buying SBTC？

A: Tech-savvy individuals, risk-tolerant investors, and long-term investors might consider purchasing SBTC based on their understanding of cryptocurrency markets and their risk tolerance.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.