How & where to buy Bittorrent (BTT) online

BitTorrent is a file sharing platform well-known to music fans in the early 2000s. Its new life includes its own cryptocurrency, and you can use this guide to find out where to buy the BTT token.
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Updated: Jun 28, 2022

This beginner’s guide introduces you to BitTorrent and the services it offers. Read on to learn more about how it has moved into the cryptocurrency space and whether it represents a good investment.

What are the best exchanges to buy BitTorrent on?

You can find a trading platform in the table below. We’ve been through all the top brokers and assessed them, so you can feel confident in whichever option you choose. If you’re not ready yet, keep reading to learn more about BitTorrent.

1
Min. Deposit
$ 1
Promotion
User Score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
Credit Card, Debit Card, Payeer, SEPA, Western Union, Wire Transfer, Yandex Money
Full Regulations:
2
Min. Deposit
-
Promotion
User Score
10
Sign Up Bonuses
App Available
Supports Multiple Altcoins
Start Trading
Payment Methods:
Full Regulations:
3
Min. Deposit
$ 1
Promotion
User Score
9.2
India's most trusted bitcoin & cryptocurrency exchange
Buy & sell bitcoin with zero fees
The WarziX referral programme gives opportunity for you to earn 50% as reward of every trading fee paid by your friends on WarziX
Start Trading
Payment Methods:
Full Regulations:

How to buy BTT online – a step-by-step guide

Step 1. Find an exchange

You can find BTT on most of the top cryptocurrency exchanges. As is the case for many small cap cryptocurrencies, however, you generally can’t use fiat currency (such as GBP, USD, or EUR) to pay for it. You need to transfer your money into another crypto first, then use that in a swap for BitTorrent. Here are some of the best places to buy BTT in the UK:

  • Binance: Binance is one of the most popular cryptocurrency exchanges. It has more trading volume than anywhere else and offers trading for more than 100 different cryptos. Sign up for Binance >
  • BitMEX: Offers plenty of advanced strategies and ways of speculating on other cryptocurrencies using Bitcoin. In particular, it lets you trade on the margin. Join BitMex today >

Step 2. Sign up and fund your account

Before you start trading you need to sign up for an exchange account. This usually just means filling out a few details, verifying your identity, and making your first deposit. The verification process can take a little bit of time but usually no longer than a day.

Step 3. Purchase

Remember that you need to transfer your fiat currency into another cryptocurrency first. Once you’ve done that, just look for the current BTT price and execute the trade.

Step 4. (Optional) Get a suitable wallet

You can leave your new cryptocurrency in your exchange account as most exchanges offer some kind of wallet service. If you want a bit more control and security over your coins than leaving them in the hands of a third party, you can get yourself a wallet. Wallets give you a private key that’s the only way to access the coins inside.

Here are two of the top wallet providers available:

1
Min. Deposit
$ 1
Promotion
User Score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
Credit Card, Debit Card, Payeer, SEPA, Western Union, Wire Transfer, Yandex Money
Full Regulations:

How to trade BitTorrent – a step-by-step guide

Step 1. Find a broker

Look for a broker with low fees and no trading limits, so that you can make moves whenever you want and won’t give up too much of your money on fees alone. Just be aware that since BTT is a new cryptocurrency, it isn’t available on many platforms yet. When that changes, two of the most popular brokers to start with are eToro and Robinhood.

Step 2. Deposit money

Brokers accept fiat currency, so you can deposit money to start trading quickly and easily.

Step 3. Decide how you’d like to trade

There are a few different ways to trade. Two of the most popular are CFDs and spread betting. Both are ways of speculating on the performance of an asset without actually owning it yourself. Spread betting can be used in other ways too, such as to predict the price moves of entire markets.

Step 4. Start trading 

Now that you’re ready to start, you have to make one final choice. Do you think BTT is going to go up or down? If you think it’s going to go up, you can back it by ‘going long’. The alternative is ‘go short’. Shorting an asset is a way of benefiting from a fall in price.

You can also choose to use more advanced methods to make bigger trades. The most popular of these is leverage, where you put up a small deposit as collateral to borrow money from your broker. This smaller amount is known as the margin, and allows you to make much bigger moves.

Leverage can lead to big wins, but it can be very risky and lead to big losses if the market moves the wrong way. Beginners should steer clear of using leverage until they have much more experience.

Still undecided?

To help you come to a final decision, here’s a summary of BitTorrent’s pros and cons. Below that, you can find a few more questions to think about.

Pros

  • Earn BTT rewards just for hosting files
  • You can use BTT to for perks on the platform, like extra speeds, bandwidth, or file storage
  • It’s backed by Justin Sun, founder of Tron and a big player in crypto
  • BTT is an inexpensive entry level coin

Cons

If you’re still not convinced, here are three more things to think about before you decide to invest in BitTorrent.

1. Is it a good time to buy BitTorrent?

It depends on your investing outlook and whether you want to use the platform. BTT could be a way of earning a few extra coins by hosting files, or for paying for extra speed if there are files you want to download. If your time frame is more long term, now might be a good time to buy if you expect the demand for free file exchange to go up.

In the short term, BTT is a relatively low-risk investment because of its price. But if you want to trade it you should think about whether there are any new developments that might spark a big rise in BTT’s price. You can find all the latest market analysis here:

2. What problem does BitTorrent solve, and what are the coin’s investment prospects?

BitTorrent decentralises file sharing, preventing any central body creating barriers to access for any file. Instead, users can download directly from each other. It also solves the problem of demand far outstripping supply by introducing incentives for people to host files using its BTT token.

In terms of BTT’s investment prospects, it relies on a few factors. Most notably these are the demand for file sharing and the success of its other endeavours, like file storage. There is more competition in storage than in sharing and it doesn’t have the same name recognition in that area, which could affect its long term prospects.

It’s always important to do your research when it comes to cryptocurrency. Justin Sun now owns BitTorrent and can be quite outspoken, so you want to keep tabs on what he might say about the platform. Similarly, BitTorrent might add more apps to its file sharing apparatus. Keep track of both developments by following the latest news below:

The bearish pressure across the crypto market has not prevented some altcoins from attempting a price recovery. Among the tokens that have outperformed the market is BitTorrent (BTT/USD), which has slightly gained during the past 24 hours. At the time of writing, BTT was trading at $0.00305, representing a…
The cryptocurrency market has failed to register any meaningful gains for most of the week. After attempting to gain past the $50,000 level, Bitcoin (BTC/USD) has again retreated to around $47K, and its price drop has affected most of the market. However, not all altcoins are making losses. A…
The BitTorrent token (BTT/USD) currently stands as one of the best-performing ones in the market. The token has made a major gain during the past 24 hours, and this is because of the highly anticipated mainnet launch. The BitTorrent mainnet launch is expected to happen on December 12,…

3. Do you want to hold BitTorrent for the long term?

You want to hold BitTorrent for the long term if you intend to use the platform or think file sharing is an area that’s got potential for growth in the future. Some things to think about include the competition, how BitTorrent stands out from the crowd, and whether you want to actually use the coins to host or download files.

Considerations for a long term investment strategy

If you have a positive feeling about BitTorrent’s long term prospects, it’s worth getting some BTT tokens straight away. You can do that by finding an exchange and diving straight in. You might also want to think about getting a wallet to store your coins.

Considerations for a short term trading strategy

Short term traders don’t need to worry so much about the future of file sharing. The most important thing is to find a broker with low trading fees, so you can be as active as you like without losing too much money every time. You can also get to grips with some short term strategies to try to predict market moves.


Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.