You might have already heard about the BitDegree token. It's the utility token that was presented during the BitDegree ICO period and now ties all of the platform services. Once you earn some, either through getting chest rewards, buying some, or completing scholarship courses, you might have a question bugging: how to use BitDegree tokens?
How to Use BitDegree Tokens to Buy BitDegree Courses
If you want to read the complete step by step post with screenshots, you can find a full tutorial of how to buy BitDegree courses with BitDegree tokens here.
But in a few words, once you are on the order page, you can select the bottom payment option (it has BitDegree written on it), and you can see the total price as it is converted from USD to BitDegree token price. To encourage you to buy our courses with our token, you can also get a 20% extra discount (see image above for BDG Token discount – one line above Total). You will then need to use your cryptocurrency (Ethereum) wallet (full tutorial on how to do that is here) in order to send the required amount to the appropriate address. The payment has to be completed in 24 hours – after this duration the invoice expires and you have to go and order the course again. Once done, the course will be added to your course library, and you can start learning!
A distinction has to be made here: you might notice that you can use BDG tokens as a discount too (even if you are paying with your credit card), and you don’t need an ETH wallet for them. These are tokens that you earn as you complete courses and daily streaks, and instead of being added to your ETH wallet, are stored on BitDegree’s platform and tied to your user, so you don’t have to convert them each time you want to use them. If you hover on the little question mark, you can get an explanation of how the current amount of BDG and the possible discount is calculated according to how many tokens you have collected. You may use this discount up to 50% price of the course.
You can also use these platform stored tokens to vote for your favorite community courses. Think of them as a little incentive to the course initiator to start making the course faster.
How to Use BitDegree Tokens to Earn
If you are a master of finishing courses, chances are, you have a lot of BitDegree tokens in your pocket. Did you reach 50,000? Congrats! That means that the platform stored BitDegree tokens can be converted to the blockchain one, and in this case, you can get them sent to your Ethereum wallet. You can request this by sending a message to [email protected]
Another way to get BitDegree tokens is to complete scholarship courses. Once someone believes a course will be a beneficial addition to your experience and sponsors your education, you have some time to work on the course. Once you are done and if you didn't exceed the deadline, you are awarded the amount of BitDegree tokens that correspond to the dollar value, indicated in the scholarship application. These funds are transferred right away, just as the scholarship receiver completes the scholarship course and receives the blockchain certificate. You can find the full tutorial on applying to BitDegree's small or micro-scholarships here.
How to Use BitDegree Tokens Outside The Platform
Another way of using BitDegree tokens is by using them to get discounts, products, or services from partner companies. These companies have the possibility to add BitDegree tokens as a possible discount or payment method for their products and services. Why is this beneficial for you or the company? You get a flexible and transparent way to pay for the products or services you want, and the company gets a valuable customer from our platform.
To learn more about this initiative, read the full tutorial on accepting BitDegree tokens on your website.
Converting BDG Tokens to ETH
If you are wondering how to use BitDegree tokens more freely, sometimes it can be a good idea to convert them to Ethereum: one of the most popular cryptocurrencies out there. We recommend using one of the two services if you wish to do so: HitBTC or IDEX.
- Go to https://hitbtc.com/exchange/BDG-to-ETH
- Register and click the deposit button to start the process.
- Use this tutorial to learn how to deposit BitDegree tokens (or any other cryptocurrency later). It can take up to 5 minutes for it to appear in the system.
- Go to https://hitbtc.com/account and transfer BDG tokens from your main account to the trading one.
- Go on Exchange, and if you follow this link, BDG should be selected as your primary currency. Specify the amount you would sell in exchange for ETH and press "Sell Market". It's important to note, that prices can change in real time, that's why it says, "You will approximately receive". You can track your active orders in the "My Orders and Trades BDG/ETH" tab, which is next to the Market tabs.
- Withdraw the Ethereum to your wallet by following this guide. You will have to transfer your funds from the trading account to your main one and then complete the rest of the steps. Be patient as it might take some time for the cryptocurrency to appear in your wallet.
- Create your wallet on IDEX. If you don't know how, this helpful guide will lead you.
- Deposit BDG into your IDEX wallet. Here’s a guide for that. Wait for the transaction to be completed.
- Once it is done, click "Exchange" and type "ETH" to search for the cryptocurrency.
- Scroll down and select Market in "Type". Specify the amount of ETH you want to buy and click "Buy".
- Withdraw and transfer your ETH to your wallet by following this guide. The whole process might take about 6 minutes, so don't rush.
It's Up to You How to Use BitDegree Tokens
As you can see, there are multiple choices that you can do once you start getting BitDegree tokens. You can choose from investing more into your education, encouraging others to start making courses, sponsor other students to learn, using it on other websites, or maybe just converting it to ETH and spending it however you want. The choice is really up to you, but if you have doubts, the recommendation is as always: learn as much as you can as it will open even more opportunities for you.