When you are looking for a new investment, you have to know the market very well. Only by having a deep grasp of the market you will be able to really find the investment that can give you a greater profit. Luckily, one of the biggest objectives of our site is to bring you information so you can invest well.
Today we will review a new cryptocurrency called Bitcoin Rhodium BTR. It is a version of the famous Bitcoin (BTC) which is being distributed via airdrop lately. Read our review so you can find everything that you need to know about this new cryptocurrency that has appeared on the market.
What is BitCoin Rhodium BTR?
Bitcoin Rhodium is a cryptocurrency named after rhodium which, according to the official website of the company, is an element of the nature that is incredibly rare and very rare, which makes it more precious than other metals like silver, platinum or gold. The idea of the name came from the fact that Bitcoin Rhodium will have one of the lowest supplies of coins ever.
While other cryptocurrencies like the original Bitcoin have 21 million tokens, there will be only 2.1 million BTR tokens ever created, which is only 10% of Bitcoin’s number. This cryptocurrency will use a proof-of-work blockchain just like Bitcoin. 50% of the total of tokens will be mineable and 40% will be given in the airdrops planned by the company. The final 10% will be equally divided between developers and PR.
Bitcoin Rhodium is said to be built by an open source community. The website of the company links to social media accounts of the company, but it does not give much information about the people behind the company. While the team seems responsive on social media, there is still a somewhat limited amount of information about this company online because no names are on the site.
How Does BitCoin Rhodium BTR Work?
The website describes Bitcoin Rhodium as a community-based cryptocurrency, which means that it was developed by a community of developers. The idea is that the BRT tokens will act both as a cryptocurrency and as a real commodity. This means that the developers seem to be planning to transform the cryptocurrency into more than only a digital asset.
In fact, the company states that starting in the third quarter of 2018, precious metals like rhodium will be available for sale using the BRT tokens. The only problems is that the developers are not explaining why they trade a token which you can get for free in an airdrop for a highly precious metal. We will cover that in the future if we have more information.
Another interesting information about Bitcoin Rhodium is that it does not seem to be a Bitcoin hard fork. In fact, the company is developing it as a new cryptocurrency in spite of its name. The developers are building the technology using C#.
Some technical information about Bitcoin Rhodium: its block size will be 4MB and the block interval is 10 minutes. The difficulty adjustment will be every 2 weeks.
How to Invest in Bitcoin Rhodium?
To invest in Bitcoin Rhodium, you will have to participate in the airdrops. The company does not have any Initial Coin Offering (ICO) planned, so your only chance to invest is really by participating in the airdrops or waiting until the BRT tokens are being commercialized (but they will be more expensive then).
The first airdrop was made in December 2017. The second airdrop is planned to be made soon, on January 18. To be eligible to participate in the airdrops, you have to use your Bitcoin wallet and you will be able to receive 10 BTR per 1 BTC (but you do not have to pay them, just receive them).
To participate in the airdrops, you will have to subscribe on the company’s site.
The BitCoin Rhodium BTR Verdict
Is this company the right investment for you? Maybe, but you should be somewhat cautious. There is no White Paper on the company’s site and much of the information about Bitcoin Rhodium is very spotty and vague.
Not only that, but it does not make much sense that you will be able to buy rare metals with a cryptocurrency which has no value at all. Also, it uses Bitcoin’s name but it does not seem to have any kind of relation with Bitcoin whatsoever. Because of this, be at least somewhat wary of Bitcoin Rhodium, even if you are getting its tokens for free.
If you are interested in this company, be sure to participate during the airdrop and you will receive your BRT tokens. It is fishy, but you are not losing anything by taking free money, after all.