Bit.Store
Crypto Overview
Overview
Bit.Store is a cryptocurrency project that aims to be a social-focused digital asset investment platform. The STORE token serves as the platform's native utility token, used for governance, rewards, and fee discounts within the Bit.Store ecosystem.
Purpose and Utility
The primary stated purpose of STORE is to facilitate operations within the Bit.Store platform, including: governance voting rights, trading fee discounts, and rewards distribution for platform activities. Users can stake STORE tokens to receive platform benefits.
Business Model Assessment
The platform's core business model revolves around providing cryptocurrency trading and investment services with a social component. The platform itself appears to focus on legitimate trading activities and does not inherently involve prohibited activities like gambling or interest-based lending.
Real-World Adoption
The platform has shown moderate adoption, particularly in Asian markets. While exact usage statistics are limited, the platform maintains active operations and continues to develop its features and services.
Development Activity
The project maintains regular development updates and platform improvements. The team appears to be actively working on expanding features and maintaining the platform's infrastructure.
Token Distribution
Token distribution appears to follow standard industry practices with vesting periods for team and advisor allocations. No concerning concentration of tokens has been identified that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in Bit.Store from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bit.Store.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.