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What is Bitzen.Space (BZEN)?

Cryptocurrency is a complicated space. Most cryptocurrency investors have a very limited understanding of the blockchain, which is the backbone of cryptocurrency. 

There are resources out there to learn about the blockchain and cryptocurrency, but they don’t reward you for learning. Bitzen.Space is one project that changes that – users receive rewards when learning about cryptocurrency. 

What is Bitzen.Space?

Bitzen.Space describes itself as a platform that allows users to learn about the cryptocurrency space while earning rewards for doing so. This is mostly done through an Android app. The revenue generated from ads on the app is used to pay users of the app. 

Of course, revenue is generated in fiat currency and then paid out in cryptocurrency. It’s quite profitable for the developers of the app to do things this way. 

This Bitzen token (BZEN) is on the Binance Smart Chain. 

There really is not much information about this project on the website. The primary use case for it appears to be as a staking token. And the staking rewards are far too good to be sustainable. 

The staking rewards will be explained further in the tokenomics section. 

Who Found Bitzen.Space?

The founder and CEO of Bitzen.Space is listed as John Price. Price has no links to any social media accounts nor is a picture used on the website. 

We do not consider him a public founder. In fact, the entire team has no social media links nor do they have real pictures of themselves. We find it likely that the team are using aliases to hide their identity. 

BZEN Tokenomics

BZEN has relatively standard tokenomics. They outlined below:

  • Development: 20%
  • Marketing: 20%
  • Ecosystem: 20%
  • Public Sale: 15%
  • Liquidity: 12%
  • Airdrop and Rewards: 8.5%
  • Team: 4.5%

The problem arises with the staking rewards – 60% APY for locking the tokens for 30 days is way too high. The APY only increases the longer the tokens are locked as it tops off at 180% APY for locking it for 270 days. 

That’s not sustainable. What always ends up happening is the token price increases as more money enters the LP pool. The price eventually crashes, however, as the total supply of tokens eventually exceeds demand. 

The Problems with Bitzen.Space

We have a lot of problems with Bitzen.Space. This section will go into detail about all the problems we have with this token. As such, you should be weary of this project. 

The Founders Appear Anonymous

The first major red flag with Bitzen.Space is that the founders appear anonymous. Yes, they have names listed on the website, but they do not have any social media accounts. The entire team does not use their real pictures, either. 

We view this as extremely suspicious.

Staking Rewards are Not Sustainable

We already covered this in the tokenomics section, but it’s worth repeating since it’s so important. 

The staking rewards are not sustainable and the price of the token will collapse. You can use this information when you see other tokens with absurdly large staking rewards in the future, too. 

The App is a Clever Way for The Developers to Earn Ad Revenue

An issue we have with Bitzen.Space is that the app appears to be nothing more than a clever way for the developers to direct people onto an app in order to sell advertisements on it. 

This is actually a great idea from the developers. They receive payment in fiat currency from advertisers and pay out users in a cryptocurrency token that they control. 

There’s nothing inherently bad about this business plan. We just think it goes against the idea of cryptocurrency. It’s something that a marketer would use to make money rather than anything truly innovative on the blockchain. 

Is BZEN a Good Investment?

We do not consider BZEN a good investment because it has anonymous founders and high staking rewards. These are two signs that the project will collapse in the future. 

It appears that the price of the token has already collapsed to some extent.

bzen price chart

It’s highly unlikely that a token will make a recovery after such a major collapse. This is further compounded by the astronomically large supply caused by the high staking rewards. Of course, there might be some ups at some point, but the chances of it ever exceeding the all-time high are extremely low. 

Final Thoughts

That mostly covers it for everything you need to know about Bitzen.Space. It’s a moderately interesting project, but the high staking rewards and business model leave a lot to be desired. This is a project that you can safely skip. 

What is Bitzen.Space (BZEN)?