What is BritCoin?

introduction

Today’s UK is characterized by low levels of public confidence in existing financial systems. In particular, the monopoly of banks in terms of money management has become clear in the 2008 crisis. This crisis now needs to be rampant by the citizens of the UK, so the Britcoin is an approach to a free and fair alternative to the pound.

BritCoin – Technical Data

In doing so, the BritCoin brings with it a number of technological improvements that make the entire network available as an open-source and peer-to-peer network. Here, the currency should be open to any interested party and work without registration. Through the use of modern cryptography techniques and blockchain Technology, the Brit Token is used to send and receive decentralized transactions. This is intended to realize the financial freedom of the investors. Unlike classic payment methods, the Brit token network is based on a peer-to-peer network, which also has no centralized control. Thereby, no third party is involved in the regulation of the token, so that the currency can be understood as an open source central bank, which allows the transactions among the users.

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What are the reasons for using the BritCoin?

According to the developers, there are many reasons to switch from classic Fiat currencies to Brit tokens. In addition, the political orientation of users is irrelevant, because among the English the current financial system is considered unfair and implausible. This creates a need for a competitive alternative. Furthermore, people are dissatisfied with large financial institutions that completely control users’ deposits and seek only for personal gain. In a world where governments can influence monetary policy as a whole, the Brit token is an alternative, because using the token gives users the chance to manage all their finances on their own.

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In addition to the financial freedom of investors can be created for companies that use the Brit tokens also benefits in terms of cost efficiency. The decentralization of the token provides only low management fees for sending and receiving tokens. To use the token only the Britcoin wallet is needed, which is provided on the homepage of the developer. Once a wallet has been created, an infinite number of addresses can be created.

What is the current market capitalization of BritCoin?

The Brit token is traded on the markets under the symbol BRIT. The initial coin offering was already on July 3, 2014 at a token price of $ 0.001440. This resulted in an initial market capitalization of $ 12,603. There was no change in market capitalization until July 26, 2016, but a new record of $ 469,439 was realized during this trading day.

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Subsequently, the currency consolidated again. Soil formation could only be broken in December 2017. Since then, the currency has been in an unbroken upward movement. At this time, a market capitalization of $ 2.2 million can be realized. The price per token is here at 0.103754 USD. In the daily Trading also has a volume of $ 750. This trading volume is implemented in particular by the trade between BRIT and BTC. But trade between BRIT and GBP also plays a relevant role.

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