Bella ProtocolBEL

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FAQ About BEL

• What Is Bella Protocol (BEL)?

  Bella Protocol is an innovative platform offering a comprehensive range of decentralized finance (DeFi) solutions aimed at simplifying the crypto banking experience for users. Its core mission is to enhance usability by addressing common challenges, such as high transaction fees and slow processing times, often encountered on various blockchain networks. This is achieved through the platform's streamlined DeFi smart portal.
  One of the standout features of Bella Protocol is its smart pool, which grants users access to the most competitive yields within the DeFi landscape while ensuring minimal gas fees, as these costs are largely subsidized by the protocol itself.
  Launched in September 2020, Bella Protocol was the inaugural project to be featured on Binance's Launchpool, attracting substantial investments from leading firms, including Arrington XRP Capital and Ledger Capital.
  Designed by the ARPA team, known for their work on a blockchain-based layer 2 solution that emphasizes privacy-preserving computation, Bella Protocol integrates the BEL token as a fundamental aspect of its ecosystem. This token functions not only as a reward mechanism for participants but also grants holders governance rights over the platform.
  Users can utilize BEL for various purposes, including earning fee rewards through farming, accessing exclusive discounts on Bella's products—such as its robo-advisor tool—and participating in staking to reap additional rewards.

• How to buy BEL

  To buy BEL, you can follow these general steps:
  
  1. Choose a cryptocurrency exchange and Create an Account
  Start by selecting a reputable and reliable cryptocurrency platform that supports BEL trading. You can also buy BEL here on Toobit. Sign up.
  
  2. Complete Verification (Not Mandatory):
  Read our How to Complete Identification on Toobit guide for more information.
  
  3. Deposit Funds:
  Deposit funds into your Toobit account. This could be done via credit/debit cards, or your crypto wallet.
  
  4. Navigate to BEL:
  Once your account is funded, navigate to the Markets section of the platform.
  
  5. Buy BEL:
  Locate BEL in the list of available cryptocurrencies.
  Place a buy order. Read our How to Buy Crypto on Toobit guide for more information.

• How to Sell BEL?

  You can sell BEL to USDT here on Toobit. Read our guide on How to Trade Spot on Toobit for more information.

• What is BEL price Now?

  Are you looking for BEL Price? Live BEL price is updated in real-time on Toobit.

• How to Withdraw BEL on Toobit?

  You can withdraw BEL and other crypto tokens into USDT here on Toobit. Read our How to Withdraw Crypto on Toobit guide for more information.

• How Many Bella Protocol (BEL) Coins Are There in Circulation?

  Bella Protocol features a capped supply of 100,000,000 BEL tokens, with an initial circulation of 13,250,000 BEL. A substantial portion of this initial supply was distributed through the Binance Launchpool, which allocated 5% of the total token supply to participants. Additionally, 6% was made available in a private sale, while 2% was sold during a public auction.
  The private sale took place on August 18th, 2020, at a price of $0.75 per token, successfully raising $4.5 million by selling 6,000,000 BEL tokens. Furthermore, the tokenomics include 18% reserved for ecosystem development, 4% for reserve purposes, 40% dedicated to user growth initiatives, 10% for staking rewards, and 15% allocated to the team. It is anticipated that the BEL token will reach full dilution by approximately 2025, in line with the planned token release schedule.
  Security of the Bella Protocol
  The BEL token operates as an ERC-20 token, benefiting from the security of the Ethereum network. This framework is supported by an extensive mining infrastructure, which plays a critical role in maintaining consensus on transaction validity.
  Currently, Ethereum employs a proof-of-work (PoW) consensus mechanism to uphold network integrity. However, a transition to a proof-of-stake (PoS) model is underway with the implementation of Ethereum 2.0.
  Leveraging Ethereum's well-established blockchain offers significant advantages, such as the operation of over 10,000 nodes that contribute to the network's reliability and efficiency.