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Bio Passport

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Discover Bio Passport's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Bio Passport?

Bio Passport (BIOT) is a cryptocurrency launched in 2020, operating on the Ethereum platform. It is part of a telehealth platform designed to remotely monitor personal health, particularly in the post-corona era, with features such as COVID-19, lung cancer, and atopic test kits. The platform aims to make healthcare a personal component of daily life through a "health passport" that houses a patient's decentralized personal health record (DPHR) built around decentralized identity (DID) technology.

How is Bio Passport used?

Bio Passport (BIOT) is a cryptocurrency token used within the Bio Passport platform, a telehealth platform designed to remotely monitor personal health, particularly in the post-corona era. The platform focuses on managing health data securely using distributed identity technology and offers various services such as diagnosis, medical treatment, and consultation for non-face-to-face infectious diseases and chronic diseases.

Key features of the platform include:

  1. Secure Health Data Management: Users can manage their personal health data securely using distributed identity technology.
  2. Incentive Program: Users are rewarded with tokens when they use services within the platform.
  3. Diagnostic Kits: Users can purchase diagnostic kits for integrated diagnosis of various infectious diseases, including COVID-19, on a subscription basis.
  4. Personal Medical Records: Individuals can directly offer their personal medical records to public health institutions, research institutes, universities, and hospitals.
  5. Intuitive UX: The platform uses an intuitive UX input method via QR code and heart rate monitoring.

The token is traded on various exchanges, including decentralized exchanges, and can be purchased using different payment methods such as credit cards, bank deposits, and peer-to-peer trading.

How do I store Bio Passport?

To store the BioPassport Token (BIOT), you can use a reliable cryptocurrency wallet that supports the blockchain on which BIOT operates. Here are some steps to follow:

  1. Choose a Wallet: Select a trusted wallet that supports BIOT, such as Trust Wallet, Atomic Wallet, or Metamask Wallet. These wallets are available for both desktop and mobile devices.

  2. Set Up the Wallet: Register and set up the wallet by following the wallet's support page instructions. Make sure to keep your seed phrase safe and note your wallet address.

  3. Transfer BIOT: Once you have purchased BIOT, transfer it to your wallet address. Ensure the wallet is connected to the decentralized exchange (DEX) where you bought the token.

  1. Store Securely: After the transfer is complete, BIOT will be stored securely in your wallet. Make sure to keep your wallet and private keys safe to avoid any potential losses.

By following these steps, you can safely store your BioPassport Token (BIOT) in a reliable wallet.

How to buy Bio Passport?

To buy Bio Passport (BIOT) tokens, follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Register an account on a CEX that supports BIOT trading, such as Bithumb.
    • Verify your identity and secure your account by enabling two-step verification.
  2. Fund Your Account:

    • Use fiat currency to buy a cryptocurrency that can be easily traded for BIOT, such as USDT, ETH, or BNB.
    • You can use the exchange's over-the-counter (OTC) trading service or a financial service platform like PayPal or Robinhood to fund your account.
  3. Transfer Funds to the CEX:

  • Transfer the purchased cryptocurrency (e.g., USDT, ETH, or BNB) to the CEX that supports BIOT trading.
  1. Buy BIOT:
    • Use the transferred cryptocurrency to buy BIOT in the spot market.

Alternatively, you can use a decentralized exchange (DEX) by connecting your crypto wallet to the DEX and trading your ETH for BIOT.

Additional Tips:
  • Research the exchange's reputation and read user reviews before selecting a suitable exchange.
  • Compare different exchanges to find the most suitable one for your needs.
  • Be cautious of scams and ensure you have the official smart contract address if the coin does not appear on the DEX.
  • Always consider your investment experience, financial situation, and risk tolerance before making any investment decisions.
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History of Bio Passport

The history of Bio Passport (BIOT) is marked by significant price fluctuations. The all-time high for Bio Passport was recorded on December 20, 2021, at a price of BTC0.053139. On the other hand, the all-time low was recorded on June 15, 2023, at a price of BTC0.0071939. This indicates a significant decline in value over time, with the current price being -98.60% lower than the all-time high and 158.20% higher than the all-time low.

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How Bio Passport works

The cryptocurrency Bio Passport (BIOT) is a token within the BioPassport ecosystem, which aims to make healthcare a personal component of daily life. The platform focuses on creating a "health passport" that houses a patient's decentralized personal health record (DPHR) built around decentralized identity (DID) technology.

Earning and Spending Tokens

Tokens can be earned through various interactions with the platform, such as using its services or contributing to the ecosystem. These tokens can then be spent to purchase services offered by the platform. For every purchase made using tokens, a percentage of the tokens is allocated to a token reward pool. Rewards within the ecosystem are supplied from this pool, incentivizing users to engage with the platform.

Trading and Storage

BIOT tokens can be traded on centralized exchanges like Bithumb and decentralized exchanges (DEXs) like 1inch. Users can store their tokens in compatible wallets such as Trust Wallet and Coinbase Wallet. To trade on a DEX, users need to connect their wallet to the exchange and use their tokens to make transactions.

Market Performance

The price of Bio Passport (BIOT) is calculated by aggregating data from various exchanges and markets, using a global volume-weighted average formula. The token's price can fluctuate based on market conditions and trading volume. Users can track the token's performance on platforms like CoinGecko, which provides real-time data on price, market cap, and trading volume.

Security and Risks

As with any cryptocurrency, investing in Bio Passport (BIOT) carries risks. The token's price can be volatile, and market conditions can lead to significant losses. Users should carefully consider their investment experience, financial situation, and risk tolerance before investing in BIOT. Additionally, users should be cautious of scams and ensure they are using official contract addresses and wallets to avoid potential losses.

Overall, Bio Passport (BIOT) operates within a healthcare-focused ecosystem, where users can earn and spend tokens to access services and contribute to the platform's growth.

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Bio Passport's strengths

The strengths of the Bio Passport (BIOT) token lie in its utility within the BioPassport ecosystem. This ecosystem is designed to make healthcare a personal component of daily life by providing a "health passport" platform that houses a patient's Decentralized Personal Health Record (DPHR) built around a Decentralized Identity (DID). The token rewards users with tokens when they use services within the platform, creating a token compensation system that incentivizes user engagement.

Additionally, BioPassport secures the management of users' personal medical records using Decentralized Identity technology implementation. This ensures safe traveling with a health passport and eases the submission of personal medical data to airports, hotels, and travel agencies. The token's utility in this context enhances the overall user experience and promotes the adoption of the platform.

Furthermore, the token's presence on multiple exchanges, including Bithumb, Coinbase, and Binance, provides users with various options to buy and trade BIOT, increasing its accessibility and liquidity.

Bio Passport's risks

Bio Passport (BIOT) is a cryptocurrency that carries several financial risks. Here are some key points to consider:

  1. Market Volatility: The price of BIOT can fluctuate significantly over short periods, leading to potential losses for investors. For example, the price has declined by -31.20% in the last 7 days and -98.60% from its all-time high.

  2. Trading Risks: Trading BIOT tokens is a highly risky activity that can result in major losses. The trading volume of BIOT has decreased by -8.00% in the last 24 hours, indicating a recent fall in market activity.

  3. Fully Diluted Valuation: The fully diluted valuation (FDV) of BIOT is BTC273.3920, which is a statistical representation of the maximum market cap. This means that if the maximum number of 8.8 billion BIOT tokens are in circulation, the market cap could reach this value, but it may take multiple years to achieve.

  1. Liquidity Risks: The liquidity of BIOT tokens can impact their value. If there is low liquidity, it may be difficult to buy or sell tokens quickly, leading to potential losses.

  2. Regulatory Risks: Changes in regulatory environments or legal frameworks can negatively impact the value of BIOT tokens. For instance, if governments impose stricter regulations on cryptocurrencies, it could lead to a decline in value.

  3. Security Risks: Like any cryptocurrency, BIOT is vulnerable to security breaches, hacking, or other cyber threats. If the security of the token is compromised, it could result in significant financial losses for investors.

  1. Competition Risks: The cryptocurrency market is highly competitive, and BIOT faces competition from other tokens. If other tokens gain more popularity or offer better features, it could negatively impact the value of BIOT.

Investors should carefully consider these financial risks before investing in Bio Passport (BIOT) or any other cryptocurrency.

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Bio Passport's ecosystem

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Bio Passport’s team

  • Co-CEOs: Woongsik Ahn and Young-il Nam
  • Vice President: Young-il Nam
  • Director of R&D Center: Hyun-...

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The fundamental analysis assistant for crypto value investors.

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