Binance-Peg Bitcoin (Binance Bridge)

Binance-Peg Bitcoin (BTCB) is a token issued on the Binance Smart Chain (BSC) that is pegged to Bitcoin (BTC). Each BTCB token is backed by an equivalent amount of Bitcoin held in reserve by Binance. This pegging mechanism ensures that the value of BTCB remains closely tied to the value of Bitcoin. BTCB allows users to trade and utilise Bitcoin within the Binance Smart Chain ecosystem, offering faster transaction speeds and lower fees compared to Bitcoin's native blockchain.

Binance-Peg Bitcoin (BTCB) is primarily used to facilitate Bitcoin transactions within the Binance Smart Chain ecosystem. It enables users to leverage Bitcoin's value for various DeFi (decentralised finance) applications, such as liquidity provision, staking, lending, and borrowing, without the high fees and slower transaction times associated with the Bitcoin network. BTCB can also be traded on decentralised exchanges (DEXs) that operate on the Binance Smart Chain, providing more flexibility and accessibility for Bitcoin holders.