Note: This blog was written by an outside blogger. The ideas and opinions contained within this post are those of the author himself.
Every day, new financial assets are added to the bitcoin market. The introduction of various crypto assets on platforms that have been around for many years is one way to inform this section for more information. Bividends are the most recent development in this regard.
BTCS, a well-known blockchain technology company, has come up with the idea. About 67% of the BTCS price jumped on Wednesday after the business unveiled payment plans that have a share of bitcoin.
For the first time, the organization has issued a bitcoin share, or “bividend.” to those who have it. By temporarily eliminating stocks from its trading platform, BTCS hopes to promote the use of cryptocurrencies, expand its space, reward its existing owners, and strengthen its floating value.
To better understand Bividends, we first need to find out what the benefits are.
What is Dividend?
In layman’s terms, companies and investment funds pay dividends (dividends or profits made) to shareholders on a regular basis. While many businesses choose to repay their profits in the business, others choose to offer benefits to shareholders instead.
Shares are usually offered as cash or cash equivalents. The Board of Directors determines the amount and quantity of shares to be allocated to shareholders. Monthly, quarterly or annual payments are a distribution plan, but some organizations may offer one-time payments that are known as special payments.
Advertisers should keep in mind that they may not be eligible for the next payment if they have just received a payment for a particular component. Eligibility is determined by the date on which the shares are already divided, which is the date on which the share equity expires next year. Those who purchase goods after that date will not be eligible to receive the next installment.
So what is Bividend and BTCS?
BTCS wants to pay its Bividend on March 17. For Bividend, no minimum BTCS shares are required. However, retail owners will need a Bitcoin wallet to earn their reward.
Shares, however, would not be available to all BTCS owners. To acquire Bividend, you must own your shares with Equity Stock Transfer, which is a subsidiary of the company. Advertisers who own their shares through a lending company are referred to as “profitable owners,” not reputable owners, and must transfer their shares through Equity Stock Transfer.
The date for the distribution of the funds is March 16, and those with a record must apply to receive it by that date. To do this, shareholders must fill out the form available on bividend.com. Those who choose not to participate will be paid in cash instead of Bitcoin as a share.
For every 1,000 BTCS shares held by a qualified trader, $ 50 in Bitcoin will be provided as a deposit.
The company has not commented on Bividend’s future payments or whether this is a one-off event. “BTCS is growing rapidly. That said, the Company is evaluating the suitability of future Bividends,” the company said. Press release.
BTCS protects high-level Layer 1 blockchains that reinforce DeFi, NFTs, and Metaverse ecosystems such as Ethereum, Avalanche, and Cardano.
In addition, the company is developing a digital platform that enables customers to integrate crypto portfolios on a variety of exchanges, track the number of transactions, and access tracking information. The platform is expected to be launched in 2022.
The introduction of profits in bitcoin also narrows the gap between the old market and the cryptocurrency market. This also lays the foundation for some of the latest innovations in the region.
Disclaimer: Cryptocurrency is not legally binding and is currently unregulated. Please make sure you pay close attention to risk when trading cryptocurrencies because they often have price fluctuations. The contents of this section do not represent any financial advice or position of WazirX. WazirX reserves the right to modify or edit this post at any time and for any reason without notice.
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