Buying BTM (1 BTM = 0.001 BTC) doesn't have to be complicated. This guide walks you through the entire process in three simple steps, whether you're a DeFi beginner or an experienced trader.
What is BTM?
BTM is a digital token with a fixed valuation where 1 BTM equals 0.001 BTC. It allows users to gain exposure to Bitcoin's value in a tokenized form, making it easier to trade, swap, or use within decentralized ecosystems.
Step 1: Set Up Your Web3 Wallet
To interact with decentralized exchanges (DEX), you'll first need a self-custody Web3 wallet. This wallet will store your private keys and enable you to trade safely on-chain.
You can create or import a wallet using popular and user-friendly wallet providers. Remember to:
- Securely back up your seed phrase.
- Enable all available security features, such as two-factor authentication (2FA).
- Ensure you—and only you—control your private keys.
Step 2: Fund Your Wallet
Once your wallet is ready, you'll need to deposit cryptocurrency to cover your purchase and network fees. You can use assets like SOL (on the Solana network), ETH, or stablecoins such as USDT.
You can fund your wallet by:
- Transferring crypto from a centralized exchange.
- Receiving tokens from another wallet.
- Using a ferto-crypto on-ramp service.
Step 3: Trade for BTM on a DEX
Decentralized exchanges allow you to swap tokens directly from your wallet without intermediaries.
To buy BTM:
- Navigate to a reputable DEX platform.
- Connect your Web3 wallet.
- Select the token you want to swap (e.g., USDT, SOL, ETH).
- Paste the official BTM contract address into the search bar to ensure you select the correct token.
- Enter the amount you wish to trade and review the quote.
- Confirm the transaction in your wallet.
Some DEX platforms also support limit orders, allowing you to set a specific price at which you want your trade to execute.
What is Slippage Tolerance?
Slippage refers to the difference between the expected price of a trade and the price at which it actually executes. It often occurs during periods of high market volatility.
You can usually adjust your slippage tolerance in your DEX settings. A higher slippage setting may help your transaction succeed during volatile markets, but it could also mean paying more than anticipated.
Choosing a Secure Wallet for DEX Trading
Your choice of wallet can significantly impact both security and convenience. Consider these options:
- Cold Wallets (Hardware Wallets): These are offline devices considered the most secure option for storing crypto long-term.
- Hot Wallets (Software Wallets): These are connected to the internet and are more convenient for frequent trading. Choose one with strong security practices, including encryption and 2FA.
Always ensure your wallet lets you maintain full control of your private keys and offers a straightforward backup process.
Advantages of Using Decentralized Exchanges
DEXs offer several benefits over centralized platforms:
- Self-Custody: You retain ownership of your assets throughout the trading process.
- Global Access: Most DEXs are permissionless and available to users around the world.
- Wide Token Selection: They often list newer or more niche tokens sooner than centralized exchanges.
- Transparency: All transactions are settled on-chain and publicly verifiable.
👉 Explore secure trading platforms
Frequently Asked Questions
How do I know if I’m buying the real BTM token?
Always verify the smart contract address from an official source before trading. Fake tokens with similar names or symbols can exist. Use a block explorer to confirm the token’s authenticity.
What are the risks of trading on a DEX?
Key risks include smart contract vulnerabilities, impermanent loss (if providing liquidity), market volatility, and user error, such as sending funds to the wrong address. Always do your own research before trading.
Can I trade BTM on centralized exchanges?
It depends on whether the token is listed on any centralized platforms. Check recent listings on exchange websites or crypto data aggregators for the most up-to-date information.
What is a seed phrase and why is it important?
A seed phrase is a series of words that generates your private keys. Anyone with this phrase can access your funds. Never share it online or store it digitally in plain text.
Why did my DEX transaction fail?
Common reasons include insufficient gas fees, setting slippage too low, or liquidity issues. Try increasing slippage slightly or confirming you have enough funds to cover the network fee.
Are DEX trades anonymous?
While DEX trades don’t require identity verification, they are recorded on a public blockchain. With sufficient analysis, transactions can often be traced to real-world identities.
Conclusion
Purchasing BTM (1 BTM = 0.001 BTC) is a straightforward process once you have a funded Web3 wallet and understand how to use a decentralized exchange. Prioritize security by double-checking contract addresses, choosing a reliable wallet, and being aware of market conditions like slippage.
Always ensure you are using trusted resources and tools throughout your crypto journey. 👉 View real-time trading tools
Disclaimer
This content is for informational purposes only. It is not intended to provide (i) investment advice or recommendations, (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, legal, or tax advice. Digital assets, including stablecoins and NFTs, are highly volatile, involve significant risk, and may lose value. You should carefully consider your financial situation and risk tolerance before trading or holding digital assets. Consult a legal/tax/investment professional for advice tailored to your personal circumstances.