Bitrise – everything to know about the BRISE token
At first glance, it’s easy to doubt Bitrise as a promising investment. If you go beyond the famous cryptocurrencies like Bitcoin, you’ll find so many scams. They promise great returns to investors, only to pull the rug before they even notice. Fortunately, Bitrise is turning out to be one of the hidden gems of the market.
Its greatest quality is its unique model that protects its investors. Bitrise increases the value of its token by reducing the supply, and it also provides constant rewards for investors. Still, I see some issues that it might need to fix, so it can shine above the other coins on the market. Look at its upsides and downsides first before you add it to your portfolio.
We’ll have to start by talking about what Bitrise is and what it does. Then, we will go through the reasons why more people are buying Bitrise (BRISE) tokens right now. As I mentioned, I will point out some issues that Bitrise might want to fix. More importantly, we will talk about what you should do before investing in BRISE tokens and other cryptocurrencies.
What is Bitrise?
We're spreading over the internet! 🔥https://t.co/YC4ILYyu1M
— BitRise (@BitRiseToken) November 11, 2021
This is yet another cryptocurrency that rose to popularity just this year. Bitrise says it is a “hyper-deflationary payment network token.” What does this mean?
You may look to a real-world example for the opposite of how it works. The constant money printing by various countries is increasing the money supply and reducing the value.
On the other hand, Bitrise avoids this by burning some BRISE tokens at regular intervals. As a result, the value goes up instead of down. Bitrise also has another nifty feature called Buybacks.
It works by charging a 6% Buyback tax on each transaction. When someone sells Bitrise tokens, the platform automatically purchases them using the Buyback funds.
Once that happens, it adds Binance (BNB) coins to its liquidity pool. As you may have noticed, Bitrise tokens are built on the Binance Smart Chain.
The platform charges a 12% transaction fee, but every 4% of that amount goes to the BRISE holders as BNB coins. Even better, they get rewards every 60 minutes!
In short, Bitrise tokens are designed to always go up in value, and those who have some get rewarded every hour. Seeing these benefits, it’s no surprise that a lot of people wanted them.
Bitrise launched on July 28, 2021, yet it grew by a whopping 1,000% within just a few months! On November 6, 2021, it even topped CoinMarketCap’s list of trending coins.
What’s more, it launched the Bitrise dapp wallet on October 28, 2021. It lets you hold, buy, sell, send, and receive various types of ERC-20 and BEP-20 tokens.
It will start letting people stake BRISE tokens to earn BNB with 80% APY. Bitrise will share more details soon. Until then, many people are excited about its next move!
Read More: How Can I Earn From Yield Farming?
Why are people investing in Bitrise?
— BitRise (@BitRiseToken) November 6, 2021
People are interested in Bitrise because it was made to keep rising in value. This is important to make sure investors will keep on profiting from this crypto.
It burns some of the supply, so the price goes up. What’s more, the Buyback feature helps in increasing the value by purchasing sold Bitrise tokens, adding BNB to the liquidity pool.
Bitrise rewards investors with BNB every hour, so it might be a great choice for those who want passive income. Of course, the 1,000% growth also attracts a lot of people.
Imagine if you were one of the first people to invest in Bitrise. That means your investment would have grown by 10 times in such a short period.
Other investors may feel some FOMO (fear of missing out) after seeing its success. This might be the next Safemoon, so people are rushing to get some Bitrise tokens.
What are some issues with Bitrise?
📢 Bitrise Wallet is LIVE on Google Playstore! Download Now! 🔥 (Note: It's in Early Access)
— BitRise (@BitRiseToken) October 30, 2021
I have to admit that I was one of the people who were surprised by Safemoon. I didn’t expect this token to perform so well a few months ago. Perhaps Bitrise is similar to it.
Yet, I still see some things that the Bitrise platform might want to improve. It has a unique tokenomics model, but it might not be enough to beat other coins in the market.
You have so many cryptocurrencies that are made to help people transfer funds and stake coins easily. I’ve listed some examples below. Click them to learn more:
What’s more, there are so many other cryptos that provide other services, such as smart contracts and NFTs. Aren’t the current Bitrise features enough, though?
Bitrise is just a few months old, but the other cryptos have been here for years. Those have a lot of investors right now, so Bitrise should give those people a reason to pick BRISE tokens.
Should you invest?
I’m not telling you to invest or avoid Bitrise because you should decide that yourself. Instead, you should start by setting a plan for your investments.
Be clear about why you want to do this in the first place. Do you want to earn quickly? Are you willing to wait for profits? This will determine the assets you’ll need.
For example, you may use cryptocurrencies to earn money within a short period. Though you will need a lot of skill to pull this off. Also, you have a high chance of losing money.
Don’t get me wrong, hype can point to a good investment, but you have to follow through with research. Study all you can about Bitrise before buying some.
At the time of writing, the price of Bitrise (BRISE) tokens is $0.000000293659. You may purchase them at Bitmart, XT.com, and PancakeSwap.
More importantly, you have to expect the risks. Despite what anyone says, you could always lose money when investing. Only use the money that you are willing to let go.
Again, this article does not provide investment advice. I only talked about the Bitrise token by showing its pros and cons. Investing in them is up to you.
Don’t limit yourself to Bitrise and other cryptos as you have so many other choices out there. Stocks, bonds, and other assets may help reach your goals too.
Read more about them in the other Inquirer USA articles. Those will give you an overview of other assets. Even better, they show you other stuff trending around the world!