When you think about projects being undertaken in the cryptocurrency world, there are a few that are as strange as BitDegree. This is one of those projects that have a considerably solid platform. The same cannot be said about the performance of its tokens. In fact, the BitDegree platform is showing quite little use for its tokens.
Since its Initial Coin Offering, the platform has shown a lot of promise. The thing is that the token itself has been severely disappointing for the investors. From when it started off, it has lost over 98 percent of its value. That’s how bad things are.
Considering the horrendous performance of the token, developers of the project decided to shake things up. The BitDegree platform has finally begun accepting fiat currency. The creators felt that the token-only aspect of the project was too detrimental for the project. Having fiat payments would save the project and it has, to a certain degree. It is still trying to integrate the BDG token into the product somehow.
The BitDegree project has made a lot of special efforts to encourage the use of its native tokens for the courses that they offer. The first look at the BitDegree makes it look like a platform pretty much like Udemy and other such websites which offer self-learning courses. The difference is that the platform has made significantly more efforts to promote the use of BDG tokens for purchase its courses.
After the change, the prices are now appearing in their US Dollar value.
There is an argument being made. If a token is used within a specific ecosystem, it can have value in and of itself. When you look at the BDG token for the BitDegree platform, there is an ecosystem with course material, teachers and students involved. It is just that the community of cryptocurrency users has generally shown skepticism towards this token. This was not something that BitDegree could have anticipated (much like most things in the cryptocurrency world).
The team behind BitDegree has been trying to entice users to make purchases using the native cryptocurrency token. They have offered discounts of up to 20 percent for every course which is bought using the BDG tokens. It seems like a good enough move to encourage more use of the BDG token, right?
Wrong. The biggest issue with the BDG token is the process of acquiring it. It is too much of a hassle. Not going through the hassle is worth the extra 20 percent people have to pay when they use fiat currency on the platform.
The people who bought the tokens during the ICO have mostly sold their tokens. With a cryptocurrency token which has seen so much depreciation, not a lot of purchases have been made to consider the token viable.
That and the fact that there are only a few cryptocurrency exchanges offering the digital asset trading on their platform makes things worse.
The cryptocurrency community does not feel very good about the BDG token considering all these things. It can only have some worth if more cryptocurrency exchanges start to list it in their portfolio.
There are other projects geared towards education that have managed to create good revenue through releasing tokens. ACAD is the Academy Token which has its own token. It will be used to spend on the courses within its ecosystem.
Until and unless there is a proper user base of dedicated people, the aspect of cryptocurrency being used to make payments won’t take off.
The development team is still in the works. They are trying to make it possible to get the BDG tokens in an easier manner. They want to convert the payments being made on the platform into BitDegree’s native tokens. The platform itself is successful and they might just be able to make the token perform better at some point. It remains to be seen.
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