PrimeBit offers 6 types of contracts: BTCUSD, BTCUSDT, ETHUSD, ETHUSDT, LTCUSD and LTCUSDT. Below there is a short description of each coin available to trade at PrimeBit.com.
Coin abbreviation: BTC
Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was first introduced on October 31 2008 with a paper that described how it would work. A few months later, on January 3, 2009, the code was released and the first bitcoins appeared. Bitcoin transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. It makes the cryptocurrency decentralized.
Coin abbreviation: ETH
Ethereum is a global, decentralized platform for money and applications. Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system then went live on 30 July 2015. The value token of the Ethereum blockchain is called ether. It is listed under the diminutive ETH and traded on cryptocurrency exchanges.
Coin abbreviation: LTC
Litecoin (LTC ) is a peer-to-peer cryptocurrency and open source software project. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. Litecoin also has very low payment cost and facilitates payments approximately four times faster than Bitcoin
Total supply: 84 million LTC
Official Website: https://litecoin.org
Coin abbreviation: USDT
Tether is called a stablecoin because it was originally designed to always be worth $1.00, maintaining $1.00 in reserves for each tether issued. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility associated with a digital currency.
There are two standards of the Tether wallet. ERC20 or USDT-ERC20 is the USDT issued by Tether based on the ETH network.
Tether Omni or USDT-Omni is the USDT issued by Tether based on the BTC network. The currency deposit address is the BTC address, with deposits and withdrawals taking place on the BTC network.
Total supply: 4,78 bilion USDT
Official Website: https://tether.to/