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Bithumb Global to Launch Bithumb Coin for Bithumb Family Services
A Cryptocurrency for Use on Bithum Chain
Bithumb Global to Launch Bithumb Coin for Bithumb Family Services
  • By Yoon Young-sil
  • November 14, 2019, 13:41
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Bithumb Global will issue Bithumb Coin (BT) that can be used for Bithumb Family services.

Bithumb Global will issue Bithumb Coin (BT) that can be used for Bithumb Family services launched by Bithumb's partners including Bithumb Korea. Bithumb Coin is paid to people as a reward when they use Bithumb Family services. With Bithumb Coin, people will be able to pay fees for Bithumb Family services.

Bithumb Global announced on Nov. 13 that it will issue Bithumb Coin as early as the end of November. Bithumb Coin is a cryptocurrency used on Bithumb Chain, the main blockchain network for Bithumb Family services being developed by Bithumb Global. The total issuance volume will reach 300 million units in total.

Bithumb Coin is given to users who contribute to the Bithumb Chain ecosystem. Users will receive Bithumb Coin for their use of Bithumb Family services provided through Bithumb Chain. Bithumb Coin is also expected to be granted to Bithumb Family members who provide services to Bithumb Chain.

In addition, owners of Bithumb Coin can vote and participate in the governance structure of Bithumb Chain including nomination for listing a project. Participants in the Bithumb Chain Eco, determined by voting, set the direction of network development and participate in Bithumb Chain's investment decisions.

However, Bithumb Global said that it had no plan to list or sell Bithumb Coin. It said that Bithumb Coin will be used to give rewards for the promotion of Bithumb Chain and Bithumb Family services. Domestic cryptocurrency exchange Bithumb Korea also said, "There are no plans to list Bithumb Coin on the exchange yet."