Spain-based bitcoin/crypto exchange platform Bit2Me has announced the launch of B2M, its native token. In the final step before the public sale, set to take place starting on September 6th, the company recently completed a seed funding round among private investors in which it has raised €2.5 million.
Bit2Me supports 50+ cryptocurrencies on its platform, including Ethereum, Cardano, Polkadot, Dogecoin, and Uniswap. Besides cryptocurrencies, its wallet supports euros. Since its founding, Bit2Me has carried out operations worth more than €1 billion and has active clients in more than 100 countries.
A total of 5 billion tokens with a nominal value between €0.01 and €0.002 per token will be offered. The public issuance will begin on September 6th, 2021, and end on September 30, 2021. The tokens can be purchased through Bit2Me’s website, where the token’s whitelist and whitepaper can be accessed.
Token Attributes
Holders of the required balance of B2M tokens will enjoy a discount of up to 90% on services such as exchanges in Bit2Me Wallet and Bit2Me Trade, legal tender deposits and withdrawals, Bit2Me Card issuance and use, training at Bit2Me Academy, blockchain transfers, and OTC trading.
In addition, users will be able to pay the applied fees with their B2M token balance. By doing so, they will get an even greater discount on each Suite fee. A combined fee scheme will be implemented between the amount of B2M tokens held and the volume traded in the last 30 days.
Also, crypto-assets may be lent to third parties in exchange for the corresponding return. These users will obtain advantageous conditions on this service if they decide to collect these returns in B2M token. Moreover, users who make purchases from Bit2Me partners with their card will be reimbursed a percentage of the purchase at the end of the month. This percentage will be higher for those users who have tokens in their balance and want to receive this refund in tokens.
Governance and Advantages for Token Buyers
Bit2Me may include the functionality to use the B2M token to allow users to vote on Suite features, such as new cryptocurrencies, adding merchants to the marketplace, debit cards refunds. On the other hand, access to some of the new cryptocurrencies and features in the Bit2Me suite may be offered first to token holders, as well as to airdrops from partner projects that seek to work with Bit2Me’s user base.
Token Sale Phase
Distribution:
- 1st Phase Offering 1: 10%
- 2nd Phase Offering 2: 10%
- 3rd Phase Offering 3: 5%
- Team: 10%
- Platform Reserve: 30%
- Private Seed Round: 10%
- Advisors: 8%
- R&D Ecosystem: 7%
- Airdrops: 2%
- Partners: 8%
Token Information:
- Name: Bit2Me Token
- Symbol: B2M
- Blockchain: Ethereum (ERC-20)
- Max. Supply: 5,000,000,000
- Eventual burn events of tokens owned by Bit2Me
Investment in R&D and Expansion
Bit2Me will use a significant part of the money raised to grow the R&D team to offer improvements through its services Suite. This mainly includes recruiting experts and developers, technical patents, and the protection of intellectual property rights. In this way, the company will be able to add new protocols and blockchains to its ecosystem in an agile and expedited way.
Another Bit2Me objective also includes the expansion of its model to other geographical areas to build the ecosystem and provide commercial value in Spain, the European Union, Latin America, and Africa.
Aside from normal exchange, people can choose to trade crypto through high leverage brokers.
In addition, Bit2Me will allocate resources to publicize its tools and to disseminate cryptocurrency technology to let users know its advantages and to achieve brand recognition. Another important part of the funds raised will be used in sizing the sales and operations teams.
Experienced Team
Bit2Me is comprised of a highly qualified staff, which was just recently re-inforced with the addition of Zeeshan Feroz as a strategic advisor. Zeeshan has extensive experience in the world of cryptocurrencies. He was responsible for establishing and growing Coinbase’s business outside the US; and now works closely with Leif Ferreira, Co-Founder, and CEO of Bit2Me, and Andrei Manuel, Co-Founder of the platform.
Others that are part of the Bit2Me team include Rodolfo Carpintier, entrepreneur and internet figure in Spain; as well as a former investor in Tuiter and BuyVIP (companies acquired by Telefonica and Amazon). Also on the team are Pablo Casadio, an investor with more than 20 years of multinational experience in various fields of FPA & BD for Otis Group, FSO at E&Y, and Capital Markets at PWC; plus Koh Onozawa, entrepreneur and director at Docuten.
“After adding more than 20 solutions to our Suite and having outdone ourselves year after year since 2015; we have taken the decision to go one step further. The Bit2Me (B2M) token marks a turning point in our career, driving us towards our goal, to bring cryptocurrencies closer and offer crypto information and management solutions that are easy to understand and accessible to everyone.”
– Leif Ferreira, CEO of Bit2Me