Buy Bitcoin Zero
What is Bitcoin Zero (BTC0)?
Real bitcoin. Net zero emissions.
Bitcoin is the best-known cryptocurrency and one of the outstanding investments of the past decade. But it has a dirty secret. Bitcoin’s mining function consumes vast amounts of energy and wreaks a heavy environmental toll. In fact, it may be the dirtiest financial instrument ever.
A single Bitcoin transaction uses the same amount of power as a typical U.S. household over 23 days. While the Bitcoin Network is increasingly turning to renewable energy sources, its carbon footprint remains a major drawback.
We have conservatively assumed that each Bitcoin generates 2.5 tonnes of carbon a year, and that the network improves its efficiency at 20% annually. This puts each Bitcoin on a path to generate approximately 10 tonnes of carbon over its life.
Market forces will determine the price of BTC0, however, we expect it to trade at a small premium to BTC to reflect the additional cost of UPCO2 and the value in retired carbon credits
Bitcoin Zero highlights:
- Consists of 1 Bitcoin, and 10 UPCO2 tokens burned and the underlying carbon credits retired at minting to compensate for its carbon footprint.
- Allows Bitcoin to be traded on the more energy-efficient Ethereum Network.
- Each UPCO2 token represents 1 tonne of CO2 averted by certified REDD+ rainforest projects.
- Fully substantiated Token and transparently minted.
- Issued by Universal Protocol Alliance
BTC0 is backed on a 1:1 basis by Bitcoin held in custody and the minting and substantiation process is transparently written to the Ethereum Network. You can see the assets and liabilities underpinning the Token in real-time here.
To learn more about Environmental Assets on Uphold, click here.
Did you know that…
- A single Bitcoin transaction uses the same amount of power as a typical U.S. household over 23 days.
- The Bitcoin Network’s annual power consumption is equivalent to that of Switzerland.
How to buy BTC0
With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go to Uphold.com and click sign up.
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
Just start trading.
This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.
May not be available in all jurisdictions.
This content is correct as of December 2020
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