> For the complete documentation index, see [llms.txt](https://metaversenw.gitbook.io/user-manual/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://metaversenw.gitbook.io/user-manual/connect-wallet/wallets-and-login/subwallet-polkadot-extension-wallet/bit-and-bit-spot.md). # BIT & BIT(Spot) Use BIT for on-chain activities. Use BIT(spot) for in-metaverse transactions. ### 💰 What is **BIT?** BIT is the primary in-game utility token. It serves as the essential material and energy source of Bit.Country. Users can earn BIT in the [Material Campaign](/user-manual/staking/material-campaign.md) by staking NEER or staking NEER in an Estates. BIT is perpetual and settled on the blockchain, making it highly secure, similar to cold storage. It is intended for **future on-chain activities**, such as decentralized exchanges. Users are advised to accumulate BIT on the blockchain and [convert amounts into BIT(Spot)](https://app.gitbook.com/o/-Mix9LmLFY4C6rB8EhjM/s/UmYKzaqvyDZcUSLKTr99/~/changes/108/getting-started/bit-and-bit-spot/how-to-transfer-bit-into-bit-spot) for daily transactions. BIT is produced continuously in mining rounds that take about 24 hours to complete. A specific BIT amount is mined each round with a 15% inflation rate in the first year (subject to change to avoid inflation). Once a round is completed, the mined BIT is distributed to participating users. Initial Circulating Supply: 1 Billion BIT ### 💸 **What is BIT(Spot)** BIT(Spot) is used for in-metaverse transactions. The balance is held in a transactional and on-platform account that is ideal for fast transactions. There is NO gas feed when performing BIT(Spot) transactions Uses of BIT(Spot): * Crafting NFTs. * Building, placing, and removing voxels. * Placing and removing 3D assets. * Placing and removing props. * Customization of Estate images. * Customization of Metaverse Settings. * Pulse page posts. {% hint style="info" %} BIT(Spot) utility is continuously being added to our platform. Note: BIT(Spot) utility is constantly being added to Bit.Country {% endhint %} Read more about BIT [here](https://medium.com/@InsideMetaverse.Network/bit-country-alpha-testnet-features-what-is-bit-35435fb0bd5c). {% embed url="" %}