BUSD, the stablecoin tied to the US dollar and offered by Binance, has emerged as the newest cryptocurrency payment method on the BitTorrent and µTorrent platforms. This development adds to the peer-to-peer (P2P) file sharing service supporting six cryptocurrency tokens.
Tron CEO, Justin CEO, acquired Back in June 2018, BitTorrent embarked on a new journey by integrating itself with the crypto and blockchain worlds. Sharing core values, both peer-to-peer file sharing and permissionless transactions have marketplaces eager for broader blockchain applications.
Using BUSD to Pay for Your Torrent Subscriptions
According to a press release In a report shared with Blockonomi, customers of the leading P2P file-sharing service can now utilize BUSD for their subscription payments, including those holding µTorrent Pro accounts.
Partnering with CoinPayments.net has facilitated the addition of BUSD as a payment method. As the first stablecoin accepted on the BitTorrent platform, BUSD joins an impressive lineup of tokens including TRX, BNB, BTC, BTT, and OKB. Sharing insights on BUSD's inclusion as a payment option on BitTorrent, Binance’s Compliance Chief Samuel Lim expressed his enthusiasm: \"Our partnership with BitTorrent to offer BUSD, a stablecoin regulated by NYDFS, as a key payment option for purchasing Classic Pro, excites us immensely. The use cases for BUSD are expanding rapidly in the industry. With its stable value and ease of global transactions, stablecoins like BUSD are poised to become the payment method of choice soon.\"
In addition to introducing BUSD as a payment method, BitTorrent announced its transition from using BNB (ERC20) to adopting BNB (BEP2). Through CryptoPayments.net's support of the Binance chain, they chose the more liquid BEP2 format, enhancing payment effectiveness over the ERC20 version.
By incorporating BUSD, users can subscribe to both BitTorrent and µTorrent classic editions, enjoying features like an ad-free experience and VPN services. The Pro subscriptions offer extra perks such as customer support, malware defense, and file conversion.
BitTorrent Embarks on a Deeper Integration with Crypto
Since BitTorrent's acquisition by Sun, the P2P service has been increasingly engaging with crypto and blockchain technologies. Its native token, BTT, has
spurred crypto adoption among its vast user base of 100 million.
The anticipation surrounding the token sale event highlighted how the Tron blockchain gained allure due to the influx of BitTorrent users. TRX-based Tron's CEO commented on incorporating BUSD as follows:
\"We are delighted to introduce BUSD as a fresh digital payment option for our Classic Pro service, available to BitTorrent and µTorrent users. By leveraging BUSD or our other cryptos, millions of users can access powerful tools like our desktop clients’ malware protection.\" raised $7.2M in 15 minutes . Back in January 2019, Blockonomi reported Naturally, P2P file sharing represents a vital part of the decentralized content ecosystem, providing an alternative to the potential censorship found on centralized platforms like YouTube or Facebook, which can often restrict users for political or social reasons.
The potential to create a platform for content creators is undeniable. In the mainstream market, advertisers generally benefit substantially from digital content, while creators see minimal returns. A decentralized approach could empower creators to better monetize their work.
Osato is known in the cryptocurrency community for his expertise on the latest Bitcoin developments and trends. In his downtime, he's either challenging himself to break his high score in Scrabble or pondering life's big questions. Get in touch at [email protected]
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