5 Must-know Facts About Bitnation

Globalization is revolutionizing how things work globally and how people interact with others living in different locations and countries. One of the changes is in cryptocurrency and virtual nations. Many switch to consider Bitnation an ideal place to avoid limiting state or national financial and governance rules. It offers a virtual world where people can do other activities, such as fun activities, gain legal documentation, meet, and be a part of a new community.

By eliminating the border and physical sovereignty rules and governance, Bitnation aims to offer people Internet sovereignty through an Internet nation and jurisdiction called Pangea. The Pangea allows anyone to become a citizen of the DBVN (Decentralized Borderless Voluntary Nation) to enjoy other benefits. 

However, there is still limited information about Bitnation hence the need for some facts. 

How Bitnation works

The Bitnation ecosystem has four main parties involved in different activities and roles. The parties include world citizens, who can be anyone, regardless of nationality, signing up into Bitnation to seek various services. Once you sign up for the services and onto the platform, you can access different features in the ecosystem, such as chats, newsrooms, and other features. These features enable you to communicate with those on the platform and become part of the community. 

You become an ally when authorized to access different services after your applications are accepted. Once accepted, you must abide by the terms and conditions within the ecosystem. Once an ally, you can post directly to the Bitnation feeds on different platforms, such as Twitter, Facebook, Instagram, and others. That said, as an ally, you are also expected to be one of the forces to radically change the world by becoming a global tech expert on virtual worlds and cryptocurrency.

The third part is embassies and consulates, which refer to the places and positions in which members of the Bitnation can meet and interact. The consulate refers to places such as coffee shops, office spaces, and homes, while embassies refer to places where Bitnation members live and work. This consulate generally refers to common meeting spaces and can sometimes refer to shared office spaces to organize meetings and interact.

Finally, the last party or element is the ambassador, referring to the person training in Decentralized Autonomous Organization (DAO) Bitnation. There are three types of ambassadors: diplomatic ambassadors, diplomatic consuls, and goodwill ambassadors. They can also act as the people with the knowledge to train incoming allies and world citizens.

Who is eligible to join the nation?

Any internet user of age can join the platform from different devices such as Android, Windows, iOS, and many more. Age may be a factor since you will have to provide some credentials. It is suitable for virtual world enthusiasts and those interested in crypto trading and transactions.

Unique features of Bitnation

Bitnation has different features making it unique from other virtual platforms, such as Metaverse. The features include the freedom and autonomy in which the world citizens and allies have the freedom and rights to create their own nation. There are also different citizenship benefits that come with the acceptance, and you can create a few rules within the nation you create. 

Besides, you can only create one nation and formulate a few rules to be approved by ambassadors and other allies. The other feature is openness to accepting anyone from various countries. 

Due to the borderless transactions and commitments, Bitnation provides the borderless world with the freedom to create high-level security, especially peer-to-peer security mechanisms and contracts. Even though there have been discussions about the platform’s security, the platform offers unique directory features to protect all users.

Relations with cryptocurrency

Bitnation works with an Ethereum-based platform called Pangea Arbitration Token (PAT). PAT is used for facilitating platform transactions and rewarding successful agreements made on the Bitnation platform. 

Besides, PAT is compatible and usable with other cryptocurrencies, such as Bitcoin and Litecoin. 

Bitnation also allows for cryptocurrency trading; hence members can exchange and trade cryptocurrency. PAT partners with platforms such as Binance, Bancor, CrytoCompare, 0x, and Shapeshift to facilitate such trades. 

There are also other reputation tokens you can earn from the platform, namely Proof-of-Agreement Tokens (PoA), Proof-of-Collective Tokens (PoC), and Proof-of-Nomic Tokens (PoN). Currently, the token supply on the platform is about 42 billion and is poised to increase. Bitnation is also the project behind and creator of XPAT cryptocurrency, with about $6 billion worth of tokens in circulation.

Due to the increased sign-ups and reliability, crypto experts anticipate PAT to be the next biggest trading platform, with an evaluation of 60 billion by 2024.

Is Bitnation reliable?

There has been an increase in Internet and crypto-related scams leading to many believing that most crypto and internet-related discoveries are scams. Bitnation is legit as long as you understand how it operates. It is not an actual nation but a virtual nation, just like Metaverse. You can do various activities online; some are related to what we have in the normal world. You can meet friends, interact, organize events, exchange contacts and even trade using cryptos through the provided platforms. 

So far, there has been no news of scams or scam-related reviews. All your credential are protected, including the safety of your digital wallets.

Conclusion

Bitnation is real and not a scam, and it allows you to enjoy a new world of virtual worlds free from the limitations and governance of the current world. You can trade your cryptos, create a new nation, become part of a community, and explore the full potential of the Internet and virtual living.