Basic Income Token is an attempt at basic income. Each user who is signed up for the service receives 100 BITs each day. No additional BITs can be created with time or resources.

Additional BITs can temporarily be generated through referrals and confirming information. After enough initial users have signed up these bonuses will disappear and income generation will be the sole source of new BITs.

BITs have no direct connection to any form of currency and are not backed by anything. BITs are only worth what other people are willing to pay for them. There is no guarantee about the strength of BITs in relation to any other currency.

Basic Income Token is currently a digital currency and will soon become a full cryptocurrency. In mid-2021 all BITs on Basic Income Token will be transferred at a 1:1 ratio onto the new BITs blockchain.