Bitgert (BRISE): Everything You Need to Know

Bittime - Bitgert, a controversial blockchain project, attracted attention in late 2022 during the FTX crash. The project is known for its bold claims of high-speed and cost-free blockchain. However, after gaining initial attention, the project and its token, BRISE, began to fade.

What is Bitgert?

Bitgert is a crypto engineering organization that develops a series of blockchain-based products, including crypto exchanges, peer-to-peer markets, payment platforms, and even real estate markets. This organization claims to aim to innovate and solve problems using blockchain technology to improve the quality of life of its users.

Although the Bitgert team claims to have over 600,000 users, its product ecosystem appears to be barely used at all, which begs the question: is Bitgert a scam?

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Bitgert Blockchain Technology

Bitgert's ecosystem is currently based on the BNB Chain, but they have developed their own blockchain which they claim can handle over 100,000 transactions per second with no transaction fees. Bitgert claims its blockchain has processed more than 25 million transactions as of May 2024 and has more than 600,000 users.

Bitgert was first launched as an application on BSC in July 2021 under the name Bitrise. In December 2021, Bitrise changed its name to Bitgert, but this change did not affect its token or ticker.

In February 2022, Bitgert launched its own blockchain network with a “proof of authority” (PoA) validation mechanism. This new network is known as Bitgert or Brise Chain. The project promotes itself as a platform with no gas fees and the ability to process up to 100,000 transactions per second (TPS). If this claim is true, Bitgert would be one of the fastest blockchains, behind TON Network and Aptos which support 104,000 and 160,000 TPS respectively.

Token BRISE

BRISE is the native cryptocurrency of the Bitgert Chain. This token was initially launched on BNB Chain when Bitgert (then known as Bitrise) was still a blockchain application. After Bitgert launched its own blockchain, BRISE was issued as the native cryptocurrency on the network and was also available on Ethereum.

Bitgert has implemented a buyback program where they buy BSC-based BRISE tokens and burn them. It appears that the project will eventually replace the entire BSC-based BRISE supply with Bitgert Chain's native BRISE version.

BRISE can be used for staking and paying small gas fees on the Bitgert Chain. These tokens can also be used in dApps connected to the platform, such as the Bitgert exchange or peer-to-peer markets. BRISE staking is possible on BSC and Bitgert Chain, and stakers can earn BUSD rewards, although it is unclear where these staking rewards come from and whether this staking mechanism is sustainable in the long term. Every transaction with BRISE tokens is subject to an automatic 12% tax returned to the project.

Controversy and Speculation

Bitgert has been the subject of controversy and speculation online, particularly regarding the identity of its founders, audits it has conducted, decentralization, and its charity announcements. The project claims to offer almost zero fees and speeds of up to 100,000 transactions per second, which has raised suspicions among analysts and investors. If the claimed capabilities of blockchain are true, why isn't it more widely used by crypto enthusiasts?

The identity of Bitgert's founder remains unknown years after the launch of its blockchain. This has led to speculation that the team behind this project is using fake identities. The project website previously featured an "Our Team" page with names that couldn't be referenced anywhere. This page has since been completely removed.

The project has also come under scrutiny for its platform audit conducted by Bitgert's own team. The team gave themselves a 98% security rating, which raises concerns about the transparency and security of the platform. The whitepaper explaining the project is riddled with grammatical errors, with details of the project apparently kept ambiguous throughout. Additionally, Bitgert has announced plans to donate to charity but has provided no details about the charity or its donation plans, further adding to doubts about the legitimacy of the project.

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Is Bitgert a Good Investment?

It is difficult to say whether Bitgert or the BRISE project token is a good investment. The price of the BRISE token is very low, standing at $US0.0000001512 as of May 3, 2024. However, the maximum supply of the token is over 400 trillion tokens, with a full valuation of $US65 million. This means that for the BRISE token to double, the project valuation needs to increase by $US65 million.

The BRISE token previously reached an all-time high of $US0.00000184, so an increase from the current price is not impossible. The project makes good use of marketing and attracts investors with low token prices and bold claims. However, for projects with limited users and questionable legitimacy, the likelihood of upside is substantially low.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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