We all have heard stories about crypto projects that bragged about being decentralized and community-driven, only to turn out to be scams later. Today, it seems that the times of the crypto Wild West are receding in the distance and simply claiming to be another people’s coin will not fly with seasoned crypto enthusiasts. This is why the industry these days is rapidly gaining genuinely decentralized projects that put their money where their mouth is when it comes to ensuring proper community governance. The Pitbull token is one of those incredible new projects that simply take decentralization to another level while providing value to every stakeholder. NOWPayments supports the Pitbull project by offering tools for accepting PIT token payments to businesses and individuals.
Key points:
- Pitbull is a project built on the concept of complete decentralization and transparency.
- The PIT token is extensively utilized in the products of the Pitbull ecosystem.
- You can accept PIT token payments via NOWPayments.
What Is Pitbull Crypto?
Pitbull’s philosophy
Pitbull is a self-staking token which is revolutionizing the crypto world as we know it. The initial team behind the project chose to give up their ownership over the token, leaving it solely in the hands of the community and allowing for a high level of decentralization. This has enabled Pitbull to become a completely community-oriented venture, with stakeholders that are passionate about Pitbull and are extremely engaged and dedicated to driving the project forward. From the development of new features to the marketing and promotion of the project, the Pitbull community does it all.
By leveraging the unique skills of its community, consisting of dozens of professionals in graphic design, writing, web development, influencer marketing, data analytics, and other spheres, the Pitbull project was able to maximize its success in the industry. Basically, the core idea of the project is to create a volunteer-run cryptocurrency. The Pitbull Team places a great emphasis on transparency. To this end, the Team regularly adds new volunteers and holds community votes to determine the best course of action for the project.
Pitbull tokenomics
The Pitbull token was released in 2021 on the Binance Smart Chain network (BSC) with the ticker symbol PIT. It had an initial total supply of 100,000,000,000,000,000. Half of this amount was burnt and sent to a non-recoverable address prior to the launch. The ownership of the Pitbull token was renounced by the creators to a dead address at the very launch.
Each PIT transaction entails a 4% fee. Half of the fee gets distributed among all PIT holders, including inactive addresses. This incentivizes PIT holders to benefit continually from their investments, while also reducing the overall circulating supply and, thus, contributing to the scarcity of the token.
The second half of the 4% fee is allocated to a dead address and permanently locked there. Additionally, Pitbull holders regularly conduct their own burns to further support the value of PIT. As a result, as of the beginning of 2023, over 60% of the total supply of PIT has been burnt and removed from the market forever.
Which Pitbull Use Cases Are There?
PitFarm
PitFarm is a platform that will enable users to stake PIT-BNB v1 in order to obtain points that can be used to redeem official Pitbull NFTs or purchase them directly from the marketplace. These NFTs can then be traded among other users on the marketplace. All the proceeds generated from these trades will be allocated to the Pitbull community fund as well as to the original artists. Essentially, PitFarm will give an opportunity to Pitbull crypto community members to put to actual use their tokens and receive exclusive NFTs that they can sell to make a profit.
PitSwap
PitSwap is the official automated market maker tool of the Pitbull ecosystem. It will provide a simplified trading experience for new PIT investors. The Pitbull team has plans to eventually add a new token to the platform and use it together with PIT for staking and farming. Thus, PIT holders will be able to generate passive income by locking their Pitbull tokens in a smart contract.
Other Pitbull Ecosystem products
In addition to the two aforementioned products, Pitbull has many other ones in its ecosystem, many of which have not yet been released. For example, PitFund will serve as a fundraising platform where users will get to receive the funding they need to take their projects and initiatives off the ground. PitFund will rely on the use of the PIT token. PitGames is a gaming section on Pitbull’s website that will offer a selection of browser-based titles, including a card trading game. PitTracker is an app that lets PIT holders see how much they have earned from auto-staking.
Kennel to Couch partnership
Pitbull has built a community of true philanthropists who make generous donations to various partner organizations using their tokens. For instance, Kennel to Couch is a charity that focuses on helping Pit Bulls by supporting them in shelters and placing them with families. Kennel to Couch officially accepts the PIT token, allowing Pitbull cryptocurrency investors to donate.
Exchanges
The PIT token is available on several major exchanges, which is not unusual given that PIT is held by over 500k addresses. SimpleSwap is an exchange that provides users with a flexible approach to trading crypto. It features the Pitbull token and makes it possible for you to buy it even using Bitcoin. ChangeNOW is another awesome, and most importantly, non-custodial exchange that allows users to purchase BIT not only with crypto but also with credit and debit cards.
Payments
NOWPayments is the world’s first payment gateway featuring the Pitbull token. NOWPayments enables users to utilize Pitbull tokens as a fast and secure payment option. This use case is especially advantageous for businesses that want to take advantage of the opportunities offered by the global crypto economy. Additionally, by integrating Pitbull tokens, businesses can benefit from improved customer experience, as making payments in Pitbull can be far more convenient than using traditional methods. NOWPayments gives merchants a quick and painless way to embrace the value of the Pitbull ecosystem and target the holders of the PIT token.
Donations
NOWPayments also assists organizations and individuals in accepting Pitbull donations, with its easy-to-use tools like widgets and links. Users can employ these tools to accept donations directly on their website or social media pages, without having to worry about the hassle of setting up and managing a separate payment system. Pitbull donations enable charities, bloggers, artists, musicians, and even startups to reach a global audience, as Pitbull crypto transactions can be sent and received from anywhere in the world. Overall, NOWPayments’ tools are an ideal choice for those who need to raise funds using the PIT token.
Payouts
If you ever had to send multiple crypto transactions in a short period of time, you know quite well how tedious it can be. This is why, at NOWPayments, we have developed the Mass Payouts feature that simplifies the process of sending numerous payments, thus saving time and resources. If you run a business that needs to make dozens of PIT crypto transactions a day, the Mass Payouts features is definitely up your alley, as it lets you simply specify the addresses and the sum they need to receive and let NOWPayments do the rest. We will conduct all of the transactions instantly and without delays.
How Can You Integrate Pitbull into Your Business?
As mentioned above, NOWPayments is a Pitbull payment gateway providing an array of tools to businesses and individuals for accepting Pitbull as a payment method. Here are the tools currently available to you:
- eCommerce plugins: These plugins are compatible with PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware.
- Payment Link and a PoS terminal: Businesses can use a payment link and a virtual Point-of-Sale terminal.
- Recurring Payments: Some companies may deploy special recurring invoices.
- Custodial Recurring payments: It allows companies to set up separate billing accounts for their customers and let them top up these accounts with the cryptocurrency of their choice.
- API: NOWPayments’ versatile API enables businesses to create custom crypto payment solutions.
- Payouts: You can send mass payouts as a salary, bonus, reward, or rebate automatically to as many addresses as you wish.
In order to deploy Pitbull token payments, follow these steps:
- Enter your public Pitbull crypto address.
- Press “Create payment link.”
- Enter the details of your payment link and click “Confirm.”
- You will receive a payment link that your clients will be able to use by simply scanning its QR code.
Conclusion
The PIT token is a BSC token that rewards users for holding. NOWPayments assists companies and individuals in accepting PIT as payment and donation by offering its free-to-deploy tools.
FAQ
Where to buy Pitbull crypto
The Pitbull token is available for purchase on the following platforms:
Is Pitbull crypto a good investment?
Pitbull is certainly a risky investment, just like most cryptocurrencies, but it has a lot of potential that can yield good returns for investors. The Pitbull ecosystem is continuously releasing new products, thus increasing the utility of its token. Given the dedication of the Pitbull team and the project’s community, it is likely that Pitbull has a bright future ahead of it.