In 2021, SafeBitcoin (SAFEBTC), which had its ICO, combines the first cryptocurrency, Bitcoin, with decentralised finance (DeFi). The project defines itself as a combination of the two, aiming to offer users high-return products. It also brings a series of innovations to make high-speed transactions. SAFEBTC has made a name for itself as a relatively new project. Here at Zatrun.com, we have taken a closer look at this project.

What is SafeBitcoin and How Does It Work?

SafeBitcoin is a blockchain project that appeals to users who want to earn passive income. The platform works with a local cryptocurrency called SAFEBTC and focuses on the DeFi area. Although it resembles BTC, the project is related to the DeFi cryptocurrency, SafeMoon.

SafeBitcoin, which brings together DeFi and Bitcoin, operates as a deflationary token, offering users the opportunity to earn passive income. The project also aims to reach a position to offer high-speed transactions. At the time of writing, the project had a market value of $1.25 million. The cryptocurrency’s ICO took place in June 2021.

SafeBitcoin offers a system in which users are rewarded depending on the number of tokens they stake. Investors stake their SAFEBTC assets. As a result, they earn SAFEMOON at maturity depending on the percentage of the tokens they staked. The cryptocurrency is compatible with both BEP-20 and ERC-20 standards.

However, 2% of each transaction on the network is distributed to those who stake tokens. 2% of each transaction is automatically locked and burned. Burning means sending a cryptocurrency to a dead account, removing it from circulation. This method contributes to the reduction of the cryptocurrency’s supply and its value increase over time.

Is SafeBTC a Good Investment?

SafeBitcoin allows transactions to be carried out extremely quickly. Users’ buy-sell transactions are quickly approved, enabling investors to trade without being affected by the cryptocurrency’s price changes. Users can earn a 2% return at maturity by locking their SAFEBTC assets through staking, which is a risk-free investment option.

However, analysts warn investors that the cryptocurrency is trading well below its expected levels. The fact that leading cryptocurrency exchanges have yet to list the project also makes it difficult to access the asset. This means that there is not enough demand, resulting in a decrease in price.