BitTorrent Token (BTT), the native cryptocurrency of the peer-to-peer (p2p) torrent client BitTorrent, has partnered with CoinPayments, a leading cryptocurrency payments gateway with millions of customers and hundreds of online merchants. The partnership was announced February 7 via a Medium post by BitTorrent.
As previously reported by IIB, BitTorrent (BTT), which is based on the Tron protocol, completed their token sale on Binance’s Launchpad on January 28, netting $7 million in under 15 minutes. BitTorrent was acquired by Justin Sun, the CEO of Tron back in July 2018, and already things are moving very quickly.
BitTorrent Collaboration With CoinPayments
According to the blog post, BitTorrent has already been collaborating with CoinPayments to support crypto payments for premium services, including µTorrent Pro subscriptions that offer file conversion, HD streaming, and malware protection. The collaboration has been pushing for the acceptance of Tron (TRX), Bitcoin (BTC), Binance Coin (BNB), and of course BitTorrent (BTT).
Moreover, Justin Sun, the CEO of BitTorrent and founder of Tron, says that the partnership with CoinPayments to support BTT is primarily to increase the liquidity of BTT before the BitTorrent Speed platform is released later this year:
In advance of this highly anticipated release [of BitTorrent Speed], we look forward to working with CoinPayments and other partners to make BitTorrent (BTT) liquid in the online marketplace before BTT is fully integrated into our desktop and mobile products.
BitTorrent (BTT) and BitTorrent Speed
The primary use case for BTT is not a currency to purchase goods and services. Rather, it will be used as an incentive with BitTorrent Speed to reward users of the BitTorrent network in exchange for seeding and providing bandwidth.
As stated by Sun:
Coming this summer, BitTorrent Speed will be implemented into our popular Windows-based µTorrent Classic client to create a healthier ecosystem and a foundation where content creators can distribute their work directly across the web.
Do you think BitTorrent Speed and the BTT token will be a success? Will the BitTorrent and CoinPayments collaboration actually help the liquidity of BTT? Lets us know what you think in the comment section below.