- Tokens are increasingly being used by companies to finance themselves, and by users to gain advantages in products or services.
- Spanish company Bit2Me launches its own token, with which it has already raised a record of 2.5 million
Madrid, August 9, 2021 — Bit2Me has just announced the launch of B2M, a proprietary token executable on the Ethereum network to accelerate its international expansion. The company has launched a seed round among private investors in which it has raised an industry record-breaking 2.5 million.
The main objective of Bit2Me with this launch is to position itself as the pioneering comprehensive crypto asset solution, ranging from learning, dissemination, information and, latest news to the management and operation of cryptocurrencies and tokens.
If we were to define in one phrase what a token is, it would be: “a unit of value created by a company or organization to give its users greater power over it and to give them advantages when using its products and services, as well as to facilitate profit sharing.”
However, the blockchain universe, which is gradually spreading among companies and the general public, is the technology that is changing everything. Blockchain technology is responsible for the creation of cryptocurrencies such as Bitcoin or Ethereum, as well as the so-called tokens, a tool that allows companies to grow and empower their users quickly and safely. But what exactly is a token?
Physical and Virtual Tokens
Let’s think about the traditional format of tokens, that is, the physical one. Let’s take for example the tokens that are used at music festivals. These tokens have value in a specific context, in this case, the corresponding music festival. They can be used to purchase food and beverages, merchandising, and whatever else the event organizers decide. Another valid example of a physical token would be the tokens used in casinos, which have value at the casino, but not outside its premises.
It could be said that tokens developed with blockchain technology are similar to those described above, only in digital format. Digital tokens provide agreed benefits within an organization or community. One of the operations for which digital tokens are used is the so-called ICO (Initial Coin Offerings), which could be compared to traditional financing rounds. “Bit2Me’s ICO was held by a Spanish company, with a team in Spain and under Spanish regulation”, explains Leif Ferreira, CEO and founder of Bit2Me.
Companies release several tokens that users can buy, in exchange for having certain decision-making power over aspects of the organization and being able to enjoy advantages when consuming their products and services. These advantages and decision-making power can be established by levels, based on the number of tokens purchased by the user.
Being developed on blockchain, the security level is very high, and it greatly simplifies the management of privileges within communities.
Crypto Token Types
There are three main token types, which are classified according to the possibilities they allow. Let’s take a look at their key characteristics:
Security Tokens: These tokens can be considered as financial assets. The value of a security token comes from a tangible asset that can be traded and is a regulated figure. For this reason, the companies that issue these tokens must present all the documentation and warranties associated with the token. These characteristics of security tokens have made them a secure investment and financing modality for blockchain-based projects.
Utility Tokens: Utility tokens are user tokens or app coins. They enable future access to the products or services offered by a company. Hence, utility tokens are not meant for an investment, but to grant privileges and advantages to users of these products or services. This is precisely the type of token launched by Bit2Me. B2M holders will have discounts of up to 90% on certain fees and services and will also be able to lend their Digital Assets to others with a significant return if they do so on B2M token. Also, those who make purchases from Bit2Me partners with their card will receive a percentage of the purchase as a refund at the end of the month.
Equity Tokens: These are a special type of tokens that are closely related to security tokens. They function more like a traditional stock asset as they represent ownership of some third-party assets or businesses. In addition, their value is associated with the success or failure of that ownership.
To learn more about the world of cryptocurrencies, do not hesitate to consult Bit2me Academy’s training courses.
Bit2Me is an industry-leading company in the cryptocurrency sector in Spain. Its suite of services includes more than 20 solutions to buy, sell and manage virtual currencies and euros from a single place, safely and easily. With private, professional, and corporate clients in more than 100 countries, the company has managed operations worth more than €1 billion since its inception in 2015. In January this year, FORBES magazine selected Bit2Me as one of the companies in Spain that will drive change in 2021. Since its creation in 2015, the company has received numerous awards in the financial sector such as ‘Winners of the World‘, in the international competition sponsored by Visa; ‘Best Spanish startup 2015‘, by CaixaBank; and ‘Best Business Model‘, awarded by Deloitte; and has been invited by the European Commission to present and discuss Blockchain and Bitcoin technology on many occasions.
One of the first initiatives of Bit2Me after its creation was the launch of Bit2Me Academy, which trains more than 1.7 million students every year. Bit2Me Academy is currently the largest cryptocurrency training portal in Spanish, with more than 400 free articles, certified courses, and videos for those interested in learning how cryptocurrencies and the blockchain world were born, how they work, and how they evolve.