We truly believe that cryptocurrencies have a number of advantages
over fiat currency. However, if you decide to participate in the ultra-dynamic and
constantly evolving cryptocurrency market, which is still admittedly in its infancy,
it soon becomes obvious how extremely complex it is to forecast market fluctuations.
This is how the idea of creating the BITRUST platform came into being
About Bitrust
BITRUST is an affordable, decentralized, easy to use peer-to-peer (P2P) cryptocurrency insurance marketplace that is based on Ethereum, a blockchain-leveraging smart-contract technology. The objective of BITRUST is to be affordable for retail digital currency investors with an average monthly trading volume of between $100 and $100,000.
In 2017, 179 new altcoins were launched, many of which have since decreased in value dramatically. With BITRUST, investors who are interested in coins thatare new to the market will be able to hedge the risks associated with such pitfalls. We offer a secure and easy-to-use risk management solution for cryptocurrency enthusiasts which enables cryptocurrency investors and day-to-day users to significantly mitigate risks associated with high market volatility. The huge increase in the number of wallets suggests that more and more investors are coming into the market, thus increasing the liquidity and attractiveness of cryptocurrency investments. At the same time, only a limited number of risk mitigation solutions have been introduced for these investors. As part of our overall contribution to the astonishing growth in this area we hope to further increase the ease of the cryptocurrency market by granting users access to the BITRUST platform. We believe that it will lower barriers to entry for new investors, scale up the amounts invested by current cryptocurrency market participants, and increase the liquidity of altcoins.
Why You Need Bitrust
1. The need for secure and easy-to-use insurance solutions for cryptocurrency investors.
2. The need for an affordable solution for regular cryptocurrency enthusiasts.
3. To solve the real issue of altcoin volatility.
Bitrust Goal
- To provide the blockchain community with a simple and easyto-use risk management solution.
- To provide an opportunity to protect cryptocurrency and significantly mitigate risks associated with high volatility in the digital currency market.
- To build an insurance platform which will serve retail cryptocurrency investors with an average monthly trading volume of between USD100 and USD100,000.
HOW IT WORKS
Since BITRUST is a peer-to-peer decentralized cryptocurrency insurance platform, a BITRUST smart contract can involve two or more counteragents. For simplicity, we use the following terms: those seeking an insurance are Buyers (B-side), and those willing to insure are called Sellers (S-side).
For instance
B-side places a bid on the BITRUST platform to insure
a certain position:
Insure against ETH (with a value of $100) dropping in price
by 30% against BTC for 96 hours (based on a certain index)
With or without certain conditions:
1. Willing to pay in digital currencies an equivalent of $5 as an insurance.
2. Claim an equivalent of $15 in case the price drops to $70 or below.
S-side may be just one seller or a cluster of several sellers, which can:
1. Agree to the terms proposed by B-side.
2. Or make a counter offer proposing slightly amended terms.
Let’s suppose that both sides agree on terms and have locked their agreed
sums in a BITRUST smart contract. B-side locks an equivalent of $5 (insurance
cost) and S-side locks an equivalent of $15 (insurance body). The total BITRUST
smart contract is equivalent to $20:
Scenario 1:
1. After 96 hours, the agreed duration of the BITRUST smart contract, the ETH token drops by 30% against BTC.
2. The BITRUST smart contract executes a pre-agreed deal and sends the equivalent of $20 (minus 0.1% fee) to the B-side: $5 of insurance fee plus $15 of the actual insurance body, i. e. limiting its exposure to the 50% loss in value of the insured digital currency
Scenario 2:
1. After 96 hours, the agreed duration of the BITRUST smart contract, the ETH token does not drop in value against BTC.
2. The BITRUST smart contract executes a pre-agreed deal and sends the equivalent of $20 (minus 0.1% fee) to the S-side: $5 of insurance fee plus $15 of the actual insurance body.
3. S-Side has earned an equivalent of $5 (minus 0.1% fee) by insuring B-side against a drastic market shift.
4. B-side has been insured for the cost of $5.
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ABOUT THE TOKEN
Token | BTF
Price | 1 BTF = 0.00005
Bonus | Available
Bounty | Available
Platform | Ethereum
Accepting | ETH, BTC, LTC
Soft cap | 6000 ETH
Hard cap | 12000 ETH
Country | UK
Whitelist/KYC | None
Restricted areas | None
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Pre ICO
- BITRUST pre-ICO phase will last for 30 (thirty) days.
- A maximum of 20,000,000 BTF tokens, equivalent to 1,000 ETH, will be available during the pre-ICO phase.
- Pre-ICO participants will receive a bonus of 100% on every investment.
- During the pre-ICO phase, there is no minimum buy of BTF tokens.
- The pre-ICO phase will start on 2nd March 2018 and continue until 31stof March 2018.
ICO
- The BITRUST ICO phase will last for 60 (sixty) days, if a soft cap is not reached sooner.
- The token creation will be soft capped upon receipt of ETH equivalent to EUR 6m, fixed at 6,000 ETH.
- If the soft cap is reached before the end of the planned token creation period, additional contributions will be accepted for a period of 240 hours.
- The token creation will have a hard cap of 12,000 ETH. Upon achieving this cap, token creation will stop and no further contributions will be accepted.
- The ICO phase will start on 2nd of April, 2018 and continue until
31st of May, 2018, or until other smart contract conditions are triggered.
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