How to Buy BitDegree (BDG)

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Contributor, Benzinga
October 21, 2021

Want to jump straight to the answer? You can buy BDG on Changelly.

Small market capitalization coins are often seen as extremely high risk investments. These cryptocurrencies, often not listed on major exchanges, can be very volatile - even for crypto. It’s not uncommon for these cryptocurrency tokens to appreciate 10 or 20 times its value in a cryptocurrency bull market, especially if large crypto exchanges begin listing the token for the masses to invest in.

BitDegree is one of these small market capitalization tokens, and it’s built on the Ethereum blockchain. The token came about as an initial coin offering (ICO) back in 2018, and it’s picking up traction in light of the crypto bull market.

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts

What is BitDegree?

BitDegree is an Ethereum based token that aims to solve the disconnect between what is taught at university and what skills an employer wants their employees to have. The platform has courses that employers request, and anyone can learn these skills to earn BDG tokens as well as a certificate certifying their competence in certain skill sets. 

The education platform has several cryptocurrency courses which are currently lacking in traditional secondary education. The platform doesn’t just focus on cryptocurrency courses though; it offers courses on machine learning, marketing, app development and game design. 

Brief History of BitDegree

Danielius Stasiulis founded BitDegree in 2017 and launched the company’s ICO just 6 months later in January 2018. The initial exchange rate for BDG tokens were 10,000 tokens per 1 Ethereum token, equating to about 13 cents per BDG token at the time of the ICO. The token quickly appreciated to over 50 cents before crashing with the rest of the crypto market in 2018. 

Unfortunately, BDG token has shown poor returns for its early investors. BitDegree is currently trading at just under 7/10ths of a cent, just a fraction of the initial coin offering price. However, investors who’ve recently bought BDG tokens have seen a healthy ROI –– the token has appreciated over 300% in the past month alone. This recent spike in price has generated new interest in BDG token, making investors reconsider BitDegree’s potential.

How to buy BitDegree

  1. Open an online account

    Since BitDegree is a relatively unknown cryptocurrency token, U.S. based crypto exchanges don’t support trading for the asset. Your best option to buy BitDegree is to use a decentralized exchange like Uniswap to trade Ethereum tokens for Bitdegree.

    If you don’t already have an account with a cryptocurrency trading platform, you’ll need to make one to purchase Ethereum. Coinbase, eToro and Gemini are popular exchanges that you can make an account with in a matter of minutes. Once your account is made, you’ll need to verify your identity with your driver’s license, date of birth and Social Security number.

    You can then send your Ethereum tokens to an Ethereum software wallet like Coinbase Wallet to interact with Uniswap. Uniswap is a protocol on Ethereum’s blockchain that lets you exchange any Ethereum-based tokens directly from your crypto wallet.

  2. Buy a wallet (optional)

    Cryptocurrency wallets are typically optional to use. For BitDegree, however, you’ll need to use an Ethereum software wallet to invest in BDG on a decentralized exchange. To do so, you’ll need to use a software wallet like Coinbase Wallet or Metamask that can connect to decentralized exchanges.

  3. Step 3: Make your purchase

    Buying cryptocurrencies on a Uniswap differs from placing orders on a traditional crypto exchange, as you can’t place market or limit orders. Instead, you simply swap your crypto tokens you’re looking to buy. The price of the token is calculated by the exchange’s code, using relative pricing based on the proportion of tokens staked for liquidity.

Since BitDegree is a small market cap coin, the liquidity pool on Uniswap is not sufficient to buy large amounts of BDG token. The more tokens you buy, the higher the price slippage when you exchange the token. For example, you can swap $15 of Ethereum for BDG with no price slippage, but if you want to invest $2,000 you’ll lose a significant portion of your investment upon exchanging the token.

Best Crypto Wallets

Here are the best software and hardware wallets for BitDegree.

Ledger Hardware Wallet
Best For
  • ERC-20 tokens
securely through Ledger Hardware Wallet's website

Best Hardware Wallet: Ledger Nano S

If you don’t plan on actively trading your BitDegree tokens, the safest place to store them is on a hardware wallet. Hardware wallets are physical devices that store your crypto assets offline, so your funds are inaccessible to hackers.

The Ledger Nano S supports thousands of different cryptocurrencies, including major market capitalization coins like Bitcoin, Ethereum, Ripple and Cardano. The company is one of the oldest in the business, and it's the go-to choice for many cryptocurrency investors.

Best For
  • Coinbase Learn
securely through Coinbase's website

Best Software Wallet: Coinbase Wallet

Coinbase Wallet supports a plethora of cryptocurrencies, including all Ethereum-based tokens. Since most non-fungible tokens use the Ethereum coinbaseERC-721 token standard, you can even store your collectibles on your Coinbase Wallet. The software wallet is free to use, and, unlike many other software wallets, it’s backed by a large U.S. based company.

Coinbase Wallet can connect to Uniswap as well as many other decentralized protocols on Ethereum’s blockchain. These programs on Ethereum give you access to new, cutting-edge investment opportunities in decentralized finance (DeFi).

Trade, Sell or Convert your BitDegree

Once you see your Bitdegree tokens credited to your account, you’ll need to decide what you want to do with them. If you plan to trade your BDG tokens, then you’ll either need to keep them on HitBTC or use a decentralized exchange. Since BDG is an Ethereum-based token, you can use programs like Uniswap to trade between different cryptocurrencies directly from your Ethereum wallet.

When you want to sell your BitDegree tokens, you’ll need to swap your BDG for a token supported by a U.S. exchange, such as Ethereum. You can then send your Ethereum tokens back to your Coinbase account to cash out of your investment.

Current Crypto Prices

Cryptocurrency prices have skyrocketed in 2021. Just last year, Bitcoin was trading for less than $4,000, and Ethereum traded hands under $100 around the same time. Today, Bitcoin’s price is approaching $60,000, and the 2nd largest cryptocurrency, Ethereum, is trading for over $2,000 per token.

It’s a good idea to follow large market capitalization cryptocurrencies to get an idea of how the markets are moving, and some investors even track their returns compared to Bitcoin’s returns, as it can be seen as the “standard” return in the crypto markets. 

Is BitDegree a Good Investment?

BitDegree attempts to solve a real world problem with a practical solution. Users are incentivized to use the platform, and so are employers. BitDegree’s success relies on its user base, which is quite small compared to other cryptocurrencies like Bitcoin and Ethereum. While a high risk investment, BitDegree offers an intriguing opportunity for risk tolerant investors.

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