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τBitcoin Price (TBTC)
$1,091.64
0.00%
τBitcoin Price Chart (TBTC/USD)
Last updated 22 Jun 2022, 09:12AM UTC. Currency in USD.
Markets
| # | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
|---|---|---|---|---|---|---|
| 1 |
 Gate.io |
TBTC / USDT | $19,176.37 | 1.86% | $416,824 | |
| 2 |
 Kraken |
TBTC / EUR | $16,454.44 | 1.50% | $7,591 | |
| 3 |
Kraken |
TBTC / USD | $28,345.00 | 1.44% | $2,729 | |
| 4 |
Kraken |
TBTC / ETH | $16,427.69 | 1.06% | $1,958 | |
| 5 |
Gate.io |
TBTC / ETH | $18,825.04 | 5.47% | $20,651 | |
| 6 |
Kraken |
TBTC / XBT | $19,467.20 | 0.78% | $1,006 |
TBTC Price Statistics
- τBitcoin Price Now $1,092
- 24h Low / 24h High $1,092 / $1,092
- Trading Volume $0
- Market Cap Rank #0
- Market Cap $0
- Volume / Market Cap 0.0000
-
All-Time High
$65,417 -98.33%
Apr 09, 2021 -
All-Time Low
$100 34.29%
Jun 18, 2022
tBTC Cryptocurrency: A Simplified Overview
Introduction
In the world of cryptocurrencies, tBTC stands out as a unique and innovative addition. This article aims to provide a simplified understanding of what tBTC cryptocurrency is all about.
What is tBTC?
tBTC is a cryptocurrency built on the Ethereum blockchain. Unlike other cryptocurrencies, tBTC is unique as it aims to bridge the gap between Bitcoin (BTC) and Ethereum (ETH) networks. It allows users to bring their Bitcoin to Ethereum's decentralized finance (DeFi) ecosystem, where they can access various financial services.
How Does tBTC Work?
tBTC operates through a process called "minting." First, a user who wants to convert their BTC to tBTC must deposit their BTC into a decentralized autonomous organization (DAO). This DAO holds the collateralized BTC as an assurance for the tBTC supply. Once the BTC is confirmed, the user receives tBTC tokens in return, which are pegged to the value of BTC.
These tBTC tokens can then be used within Ethereum's DeFi ecosystem. Users can lend, borrow, or trade their tBTC just like any other cryptocurrency in the Ethereum network. Moreover, tBTC also allows users to participate in decentralized exchanges (DEXs) such as Uniswap.
Benefits and Considerations
One of the key benefits of tBTC is the ability to bring BTC into the Ethereum ecosystem, expanding the possibilities for Bitcoin holders. By integrating with DeFi, users can access additional financial services, such as lending and borrowing against their BTC holdings.
However, it is important to note that tBTC is a relatively new cryptocurrency, and as with any investment, there are potential risks to consider. Volatility in the cryptocurrency market, potential vulnerabilities in the smart contracts, and regulatory uncertainties are some factors that users should keep in mind.
Conclusion
tBTC cryptocurrency offers an exciting proposition for Bitcoin owners by allowing them to participate in Ethereum's DeFi ecosystem. By bridging these two major cryptocurrencies, tBTC opens up new possibilities and access to a wider array of financial services. However, it's essential to weigh the benefits against potential risks and stay informed before engaging in tBTC transactions.