BitDAO

What is BitDAO?

BitDAO is a decentralized autonomous organization built on Ethereum. It provides a decentralized platform for storing and selling crypto assets. BitDAO money is represented by BIT. 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.

BitDAO’s overall goal is to create a decentralized platform for maintaining and investing in crypto assets and also create an open and community-driven governing system.

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, like Ethereum, is a decentralized autonomous organization (DAO), however, it focuses on offering a decentralized lending and borrowing platform for digital assets. It also includes its own governance token, the BitDAO token, which gives holders the ability to vote on protocol updates and improvements.

In essence, Sushiswap is a decentralized exchange, whereas BitDAO is a lending and borrowing 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 other.

BitDAO Token can be bought at different cryptocurrency exchanges such as following

• Coinbase
• XT.COM
• Uniswap
• SushiSwap
• Gate.io
• Bybit
• Huobi
• Hotbit
• ZT
• Jubi
• CoinEx
• BKEX
• LATOKEN
• BitMart
• BingX
• CoinW
• Coinone
• Poloniex
• 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.

Coin-Labs signed an agreement in 2021 to become the official business partner of Bybit.
Therefore, when you sign up for Bybit through the Coin-Labs website, you will be able to experience top commission benefits and also become eligible to participate in an event to receive up to $600 in bonuses.

2. Verification

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.

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, 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, 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 and it is important to be aware of the risks involved in any investment and not invest more than you can afford to lose.

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.

We Coin-Labs.com provides only objective information about BitDAO.
Therefore, we are not responsible for the investment decision in BitDAO and the resulting loss.

BitDAO Basics

Here are some factors that investors should consider before investing in BitDAO.

Cryptocurrency Features	BitDAO (BIT)
Publisher or Developers	Bybit
Headquarters (Registration Number)	Singapore
Symbol	BIT
Platform	ETH
Published Date (CMC Registration)	2024-11-01
Max Supply	1,000,000,000,000 BIT

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
Communication Rate	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 4 Exchanges
Number of Available Pairs Worldwide	18 Pairs
Market Cap of the Cryptocurrency	0 USD (Rank #2429)

The table above shows the result of investment suitability evaluation for BitDAO.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

BitDAO Price

Here are the price and recent trading volume of BitDAO. (Data of 2024-11-02 00:31:00)

Price Items	Price and Trading Volume of BitDAO
BitDAO Price	0.000 USD
Price Change 24h	2.08%
Price Change 7d	15.13%
Trading Volume 24h	496,794 USD
Trading Volume Change 24h	-0.05%

Cryptocurrency Metadata

You can check the development status and social media information of BitDAO through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy BitDAO

Here are the top ten world crypto exchanges where traders can buy BitDAO in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Not listed
Coinbase	Listed	https://pro.coinbase.com/trade/BIT-USD
Kraken	Listed	https://trade.kraken.com/ko/charts/KRAKEN:BIT-USD
KuCoin	Not listed
Bitfinex	Not listed
OKX	Not listed
Huobi	Listed	https://www.huobi.com/en-us/exchange/bit_usdt
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Listed	https://www.gate.io/zh-tw/trade/BIT_USDT

Frequently Asked Questions