Binance presented yesterday the 8th the Bitcoin Standard Hashrate Token (BTCST) in its Binance LaunchPool. Binance will allow its users to farm BTSCT for a few days by staking BNB, BUSD and BTC.
What is the Bitcoin Standard Hashrate Token (BTCST)?
The Bitcoin Standard Hashrate Token (BTCST) seeks to solve, by providing exchange liquidity in Bitcoin mining, to the fact of the limited number of exit options in said mining.
As stated on the Standard Hashrate website, each BTCST is guaranteed for 0.1 terahash per second of Bitcoin mining power. In this way, users who have BTCST will receive daily Bitcoin distributions, corresponding to the mining power wagered.
Farming on Binance
As Binance indicates, you can farm BTCST from 2021/08/01 at 0:00 AM (UTC) and for a period of 30 days stacking BNB, BUSD and BTC.
Starting 2021/08/13 at 6:00 AM (UTC), Binance will trade the BTCST / BTC, BTCST / BUSD and BTCST / USDT pairs.
How to farm BTCST?
Let's see how to farm BTCST from the Binance application.
1. We access the application and select the option 'Wallets' from the lower menu.
2. On the screen that appears, we select the 'Earn' option from the top menu, and then click on the 'Buy products' button that appears in the middle of the screen.
3. Select 'Launchpool' from the 'Flexible Terms' menu.
4. We select 'View more' and then, in the stacking option (BNB, BTC and BUSD) that we want to do, we click on 'Stake Now'.
5. A page with information about the stake appears.
6. Now we only have to click on the 'Stake' button, indicate the amount of BTC (in this case) with which we want to stake and accept the conditions.
We have seen how to access BTCST before it is listed on Binance by farming. Now we will have to see how its value evolves once it can be traded.
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