A story of BITRUST began with an issue which accumulated a group of blockchain aficionados to unravel it — to have a moderate instrument for supporting digital currency exchanging exchanges. Also, it is valid, with the altcoins advertise unpredictability we have confronted these couple of months clearly everything is prepared for such item to occur. In cypto-new in brief we will enlighten you in brief insight concerning what BITRUST offers and why it is required.
BITRUST is a peer-to-peer Ethereum-based, decentralized cryptocurrency insurance platform.
A story of BITRUST started with a problem which gathered a team of blockchain enthusiasts to solve it to have an affordable tool for hedging cryptocurrency trading transactions.
And this is exactly why market was calling out for something like BITRUST to solve the real issue of altcoin volatility for small and medium investors and cryptocurrency enthusiasts.
In 96 hours, if the ETH token drops by 30% against BTC, the BITRUST smart contract executes a pre-agreed deal and sends the equivalent of $20 to me: $5 of insurance fee plus $15 of the actual insurance body.
The buyer and the seller of insurance both lock their funds in BITRUST tokens (BTFs) or a certain set of other cryptocurrencies that will be permitted by BITRUST platform.
That is why they will charge a fee of only 0.1% against a total amount locked in a BTF smart contract (in case of our example above it would have been 2 cents) only when the entire deal is conducted in BTFs.
Read more about the BTF value, token allocation and projected financials in BITRUST white paper.
BITRUST philosophy is simple to be fast and flexible, open to feedback and making sure the company has the extraordinary team of professionals to design a product offering a flawless user experience.
At its disposal BITRUST has it all professionals in cryptocurrency, insurance operations and compliance, blockchain and peer-to-peer technologies, artificial intelligence, internet marketing and economics, politics and public relations.
The management team has already achieved several milestones such as having all infrastructure in place to develop the BITRUST platform, including headquarters, IT support and hiring a top team of software developers.
They might not be the people who have immediate recognition on the internet, however they have more than that ability to work with t he utmost focus and commitment on the product, which will change cryptocurrency trading as we know it," Sergey Silin, the company's CTO gives a vote of confidence to his team (we have introduced some key developers previously, you can also find information about the whole team here).
To finance the development and launch of the BITRUST platform, a limited-supply sale of BITRUST tokens (BTFs) will be created by BTF Project Limited.
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