BOB (Build on Bitcoin) is a new cryptocurrency on Bitvavo that combines Bitcoin with the capabilities of Ethereum. This allows you to not only store BTC but also actively use it in the world of decentralized finance (DeFi).
More to Do with Your Bitcoin? How BOB Works #
Most investors still use bitcoin primarily as a digital savings account, while Ethereum has offered smart contracts and financial applications for years. BOB brings the best of both worlds together: the security and reliability of Bitcoin with the flexibility of Ethereum.
The platform runs on a hybrid blockchain—a network that supports both Bitcoin and Ethereum technologies. This allows you to stake BTC, participate in vaults, and use other DeFi protocols without going through complicated intermediate steps.
Staking means temporarily locking up your bitcoin to support the network and receive a reward in return. Vaults are digital safes where you can park crypto and simultaneously earn returns. With BOB, you can do all of this with a single click.
Additionally, BOB allows you to easily swap your Bitcoin to other cryptocurrencies on different blockchains and back again, without relying on intermediaries or wrapped tokens (digital versions of Bitcoin on other networks).
BOB utilizes BitVM, a technology that makes real Bitcoin directly available on the platform, fully secure and without anyone else having control over it. Moreover, it has been announced that soon all apps and transactions will be supported by real Bitcoin, allowing you to benefit from the inherent security of the Bitcoin network.
BOB Attracts Major Partners and Is Now Available on Bitvavo #
The project is supported by investors including Coinbase Ventures and Ledger (known for its hardware wallets). BOB also receives advice from experienced names in the DeFi world, including contributors to projects like Curve and Aave.
The BOB token is now available on Bitvavo, the largest cryptocurrency exchange in the Netherlands with over two million users.