What Is The Difference Between CoinsBit And Bitcoin?

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Well, if you are comparing Bitcoin with CoinsBit token that doesn’t make sense. There’s no comparison between the two cryptocurrencies and there definitely would be no winners and losers here. Coinsbit exchange launched its token just a few months ago in an Airdrop on 16 Sep 2019. If you don’t know it already, Bitcoin was the first-ever cryptocurrency to be created in 2008. Even after 12 years of its launch Bitcoin is still leading the crypto race with above 65% dominance. Anyways that doesn’t make CoinsBit token CNB as waste because it has its own use cases but all that is limited to CoinsBit exchange. Bitcoin is an investment token that has a dazzling future and it can also be used as a currency. Nevertheless, today we are going to help you find the difference between CoinsBit and Bitcoin. Let’s get started away!

Difference Between Coinsbit And Bitcoin, CNB vs BTC

Bitcoin

Bitcoin, the world’s leading cryptocurrency was invented in 2008 by an anonymous developer or group of developers. The cryptocurrency since its launch has taken the world by storm as it continues to surge in prices and show its reliability with time. The creator of Bitcoin is unknown and is addressed by a pseudonym Satoshi Nakamoto. Unlike government-issued currencies, Bitcoin is decentralized and also promises low transaction fees in comparison with existing online payment methods. 

The best feature of Bitcoin is its decentralized nature which makes it an independent currency. Unlike fiat currencies that are controlled by third parties banks and governments, Bitcoin has no central authority. When Bitcoin was launched, it was worth around $0.008 and now if you check its price after 10 years, it’s worth more than $9,000. Don’t get excited too soon because when you’ll know that once, Bitcoin surged above $19,000, you wouldn’t believe your eyes. But it’s a true fact, in 2017, Bitcoin prices hit an all-time high at $19,783. Think of the people who bought Bitcoin when it was just worth a dollar and took benefit of its high volatility. 

Now the price of Bitcoin is so high that no common person can even afford to buy 1 BTC. however, the cryptocurrency is divisible and you don’t need to buy the whole crypto to invest in it. Anyone can start buying Bitcoin from as low as 0.00000001 BTC which is known as 1 Satoshi.

“1 BTC = 100,000,000 Satoshi”

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The major difference between Coinsbit and Bitcoin is that Coinbit (CNB) is a Utility token while Bitcoin is a currency or investment token.

CoinsBit

Coming to CoinsBit token, it was released in 2019 by Europe’s one of the best cryptocurrency exchange Coinsibit. Unlike Bitcoin, CNB has different use cases which are mostly limited to Coinsbit exchange. The CoinsBit exchange is listed among the world’s top 50 cryptocurrency exchanges. CNB was created to provide more liquidity to the exchange through IEO crowdfunding. The faster, Coinsbit will get investors for its token the faster it would be able to roll out its further services. 

There are a total of 1.5 billion Coinsbit, among which 500 million coins were set to be sold in the three-staged IEO, 400 million were set to be airdropped to registered Coinsbit users, 100 million to be distributed through referral programs. The remaining 500 million CNB are set aside to be kept as reserve funds.

So, what benefits people will get by purchasing the CNB token? Using CNB token, users can get multiple benefits on the Coinsbit exchange and earn profits. The benefits users can avail by using CNB coins are listed below:

  1. The major benefit of CNB token is that it can be used to cut exchange fees by flat 50% as well as earn higher cashback.
  2. CNB token can also be used for trading many popular cryptocurrencies like BTC, ETH, LTC, BCH etc in CoinsBit exchange.
  3. By keeping a certain amount of CNB in your account, you can earn higher payouts on referrals. This way, if you have 1000 CNB in your account, you will get 25% payout on referral, by keeping 500 CNB as a balance in your account, you’ll get 15% payout and at last, if you have 250 CNB, you’ll get 10% payout.
  4. Moreover, CNB tokens can also be used to participate in the decision making of listing and delisting securities on the platform. Moreover, they get unlimited access to chat support on the exchange.
  5. Last but not least, CNB users will get unique offers on Coinsbit products such as high interest on StakingPool and Coinsbit P2P lending platform.

Coinsbit Token Price Prediction

The current price of CoinsBit token is $0.000753 USD. It’s only been a year since the launch of CNB, so it is kind of challenging to tell where it’s leading. Unlike Bitcoin, Coinbit cannot be used as an investment but to only get extra benefits on the native exchange. We’ve already discussed the many use cases of CNB which is clearly limited to the Coinsbit exchange. Bitcoin is a currency token that’s mostly used for investment purposes i.e. for day trading as well as HODLing, while CNB is just a utility token to provide Coinsbit users with advantages on the platform. 

Beside this CNB can also be used for trading and users can earn guaranteed interest of 3% per month. This is only possible if the user takes benefit from Coinsbit Invest Box. CNB is available for trading not only on its native exchange but other top cryptocurrency exchanges.

CoinsBit or Bitcoin, Where to Invest?

If you’ve read the above article about the difference between Coinsbit and Bitcoin, you would’ve already known by now that there’s no competition between the two cryptocurrencies. In our opinion, if you want to invest in cryptocurrency, instead of choosing one coin you should invest in a few. This would help you decrease the chances of risk as well as earn more profits. Even if one coin suffers plunges, you could still be benefited by other investment. Moreover, Bitcoin is the leading cryptocurrency and is definitely worth investing. With bitcoin, you can earn great profits, especially by HODLing it for the long term. Besides, if you use CNB for trading the top cryptocurrencies like Bitcoin and Ethereum, you can get a 50% discount on trading charges and many other benefits.

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