Frequently Asked Questions (FAQ)
1. What is BIT10?
BIT10 is a cross-chain, decentralized asset manager that lets you invest in the top 10 cryptocurrencies through a single token. Instead of manually buying and tracking multiple coins, you deposit stablecoins and receive BIT10 tokens representing a diversified, automatically rebalanced portfolio. Think of it as the S&P 500 of crypto - built entirely on-chain, without a custodian, and verifiable at any time.
2. How is BIT10 different from just buying Bitcoin or ETH?
Buying a single asset concentrates your risk on one coin. BIT10 spreads your exposure across the top 10 cryptocurrencies by market cap, so you participate in broad crypto market growth without betting on any individual token outperforming. Historically, diversified index strategies have outperformed most hand-picked portfolios over the long term - Warren Buffett's famous bet on the S&P 500 demonstrated exactly this principle.
3. How is BIT10 different from traditional crypto index funds?
Traditional crypto index funds (e.g. Bitwise) are off-chain products managed by centralized firms, often restricted to accredited investors, with high minimum investments and annual fees. BIT10 is fully on-chain: every asset backing your investment is verifiable in smart contracts in real time, there is no custodian holding your funds, and you can mint or redeem anytime with no lockup periods. Existing on-chain index solutions (like Index Coop) are chain-specific; BIT10 is cross-chain.
4. What is BIT10 TOP?
BIT10 TOP is BIT10's flagship index product. It tracks the top 10 cryptocurrencies by market cap (excluding stablecoins), is 110% over-collateralized, rebalances daily, and is available across 4+ chains. Users deposit USDC, USDT, or other supported stablecoins and receive BIT10 tokens representing their proportional share of the index. Every underlying asset - actual BTC, ETH, SOL, and others - is held natively, not as wrapped tokens.
5. What does "native assets only" mean?
Most on-chain index funds use "wrapped" versions of assets - e.g., Wrapped Bitcoin (WBTC) instead of actual BTC. Wrapped tokens introduce counterparty risk: someone must hold the real asset and honor redemptions. BIT10 holds the real, native assets across supported chains using ICP's chain-key cryptography, meaning your BIT10 tokens are backed by actual BTC, ETH, SOL - not IOUs or synthetic representations.
6. What does "110% over-collateralized" mean?
For every $100 worth of BIT10 tokens in circulation, there is $110 worth of underlying assets held in reserve. This over-collateralization buffer protects users in the event of short-term price volatility, ensuring the value of BIT10 tokens is always fully backed with a safety margin.
7. How does daily rebalancing work?
BIT10's smart contracts check the market cap weighting of each asset in the index daily and automatically adjust holdings to maintain proportional exposure. If one asset surges and becomes overweight, the contract sells a portion and redistributes to underweight assets - all autonomously and on-chain. This means your portfolio always reflects the current top 10 without you needing to do anything.
8. What chains does BIT10 support?
BIT10 is currently available on Solana, Base, Internet Computer (ICP), and BNB Chain, with more chains being added. BIT10's cross-chain infrastructure is built on ICP's chain-key cryptography, which enables direct interaction with Bitcoin and other L1s without bridges or wrapped assets.
9. How do I buy BIT10 TOP?
The process takes under 2 minutes:
- Go to bit10.app and connect your wallet.
- Deposit USDC, USDT, or another supported stablecoin.
- BIT10 automatically converts your deposit into a balanced portfolio of the top 10 cryptos.
- You receive BIT10 tokens representing your share - hold, trade, or redeem anytime.
10. What are the fees?
BIT10 charges a 0.5% fee when you buy or sell BIT10 tokens. There are no lockup periods, no performance fees, and no exit penalties. Gas and network transaction fees from the underlying chains may also apply.
11. Is BIT10 non-custodial?
Yes. BIT10 is non-custodial. You connect your own wallet, and your assets are held in on-chain smart contracts - not on BIT10's servers or in any centralized account. BIT10 cannot access, move, or freeze your funds.
12. Can I verify the reserves backing my BIT10 tokens?
Yes - this is a core design principle. Every asset held as collateral is visible on-chain at all times. The BIT10 platform displays total reserves, collateralization ratio, and individual holdings, all traceable to on-chain proof. No trust required - just verify directly.
13. What is Internet Computer (ICP) and why did BIT10 build on it?
The Internet Computer Protocol (ICP) is a Layer-1 blockchain developed by the DFINITY Foundation that runs fully on-chain applications using scalable smart contracts called "canisters". BIT10 chose ICP because its chain-key cryptography enables seamless interaction with Bitcoin and other blockchains natively - without bridges - which is what makes holding real BTC inside a DeFi protocol possible.
14. Is BIT10 regulated?
BIT10 is not registered or licensed by the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), or any financial regulatory authority. BIT10 does not offer securities services in the United States or to U.S. persons. Users are responsible for ensuring compliance with the laws of their own jurisdiction before using BIT10 products. This is not financial advice.
15. What is Dollar Cost Averaging (DCA) and how does it apply to BIT10?
Dollar Cost Averaging (DCA) means investing a fixed amount at regular intervals rather than trying to time the market. Because BIT10 auto-rebalances daily and allows you to buy in at any time, it is naturally compatible with a DCA strategy - you can invest a set amount weekly or monthly and let BIT10 handle diversification and rebalancing automatically.
16. What other BIT10 index products are coming?
BIT10 TOP (top 10 by market cap) is live. In development:
- BIT10.SOL - Top 10 cryptocurrencies on the Solana ecosystem
- BIT10.BASE - Top 10 cryptocurrencies on Base (Coinbase's L2)
- BIT10.RWA - Top 10 cryptocurrencies in Real World Assets (RWA)
Long-term, BIT10 is building toward a full suite of on-chain index products - plus a DEX for easy stablecoin swaps and a lending & borrowing protocol where BIT10 tokens can serve as collateral.
17. Who backs BIT10?
BIT10 is backed by DFINITY Foundation (creators of the Internet Computer) and was accepted into BTC Startup Lab (Bitcoin x AI Startup Lab). BIT10 was originally started at an EasyA hackathon in October 2023.
18. Who founded BIT10 and when?
BIT10 was co-founded by Zeya Rabani (CEO) and Harshal Raikwar (CTO) in December 2023. The idea was born at an EasyA hackathon in London when they realized they wanted a diversified crypto index fund but couldn't find a truly cross-chain, non-custodial solution - so they built it themselves. BIT10 is headquartered in London, UK.
19. Is BIT10 open source?
Yes. BIT10's smart contract code is publicly available on GitHub. Developers, researchers, and auditors are welcome to review the codebase.
20. How do I stay updated on BIT10 news?
- Follow on X (Twitter): @bit10app
- Follow on LinkedIn: BIT10 on LinkedIn
- Visit: bit10.app