Personal Development, Finance, and Investing For Filipinos
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BPro, a brand new cryptocurrency token, is now ready to give Filipinos a new way to make money off their bitcoin.
All over the world, cryptocurrency has exploded in popularity in recent years and the Philippines has proved no exception to this phenomenon. It’s estimated that roughly a third of Filipinos own crypto assets, while about 53% of the population say they intend on investing in cryptocurrencies at some point. A big part of the reason why Filipinos are attracted to cryptocurrency is that many see it as an additional way to earn money.
Yet even top cryptocurrencies, such as Bitcoin, have remained incredibly volatile. Although the cryptocurrency doubled in value from the beginning to the end of 2021 (from 1 bitcoin equaling roughly $20,000 to roughly $40,000), the cryptocurrency also reached highs as much as $69,000 and as low as $30,000.
Bitcoin’s volatility is why new tokens such as BPro emerged as one of the most advanced tokens that bitcoin holders can handle in the cryptocurrency market. BPro has even historically outperformed Bitcoin by nearly 30%, thereby offering holders of the currency an extra avenue for income.
How BPro earns for its holders
BPro is enabled by the Money on Chain (MoC) protocol built by numerous bitcoin holders. The explicit purpose of BPro is to improve the performance of any bitcoin held while still giving holders full control over their private keys. Software company IOV Labs maintains the RSK network that houses all the collateral/smart contracts that allow BPro to run.
Because the MoC protocol is collateralized by bitcoin, BPro is able to offer holders free leverage. Thus, if the price of one bitcoin goes up, the price of BPro is expected to increase a bit more. This lets users make larger profits if the market continues to move upwards (such as a bull run).
BPro also allows holders to earn passive income through rBTC, the rewards token paid by traders doing BTC leveraged operations. rBTC is a cryptocurrency created by smart secure network RSK, usually generated through mining.
Users also earn part of the MOC protocol fees. For example, every time that a token like BPro is redeemed, 20% of the fees paid by every transaction go directly back to BPro, creating more value over time. Additionally, BPro pays 0.25% of its value on an annual basis back to the MoC protocol.
BPro holders can even join the MoC Liquidity Mining program, where mining tokens are given out automatically to anyone holding BPro. This way, holders are involved in MoC’s governance process and MoC tokens can be staked to earn even more.
Why BPro is a great option for Filipinos
With many Filipinos looking to earn off of cryptocurrencies (especially as the pandemic prolongs), BPro is a great way for Filipinos to dip their toes into Bitcoin and maximize its earning potential.
It’s worth noting that users can also hold the keys to their BPro in their own hardware wallets, meaning their funds are given the maximum protection against attackers or hackers (who usually opt to target centralized platforms).
With BPro, Filipinos now have a safer and more cost-efficient way to begin their journey into bitcoin.
ABOUT IOV LABS
IOV Labs believes in developing low-cost, high-quality, easy-to-use platforms for all people, in order to help democratize knowledge and strengthen financial equality.
For example, by leveraging the benefits of Bitcoin, the web’s most secure and reliable financial network, they give everyone the tools needed to create and grow value.
They achieve this with platforms like RSK, the first open-source smart contract platform, which allows businesses to easily scale and secure operations with the use of blockchain technology.
For more information about IOV Labs, visit the official website here: https://www.iovlabs.org/
For more information about the RSK platform, see here: https://www.rsk.co
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.