Question 1

What is BitOil?

Accepted Answer

BitOil has two parts. Real BitOil is a planned cryptocurrency whose value would track one barrel of crude oil (1 BIT ≈ 1 barrel of WTI); it is still in research and not available. Play BitOil is a free game, live now, where you collect play micro BitOil (µBIT) every day — play money with no cash value. The site also offers live oil and crypto data and research.

Question 2

What is Play BitOil and play µBIT?

Accepted Answer

Play BitOil is a free points game. Sign in (Google recommended), get a 10,000 µBIT welcome bonus, then check in daily: 100 µBIT for the first network site you visit each day and 20 µBIT for each extra site, up to 1,000 µBIT a day. Play µBIT has no cash value and cannot be bought, sold, transferred or withdrawn. Rules may change.

Question 3

What is the BitOil Arcade?

Accepted Answer

Play-money games where you can earn extra play µBIT: a free Daily Spin, the Weekly Barrel Draw and the oil price guess for everyone, plus Oil Slots, Crude Crash and Barrel Dice for adults (we ask your age once). Odds are published and every result is drawn on our server. You can't buy µBIT, cash it out or win anything with a cash value.

Question 4

What is a micro BitOil (µBIT)?

Accepted Answer

One millionth of a BitOil: 1 µBIT = 0.000001 BIT. Since 1 BIT is about the price of a barrel of oil (roughly $60–$100), a whole BIT is a large unit, so everyday amounts are counted in µBIT.

Question 5

Is BitOil a real cryptocurrency I can buy?

Accepted Answer

No. BitOil is currently a research and community brand. There is no token, no presale, and no investment offering. Real BitOil is planned for the future, and you can sign up for news on the Real BitOil page. The 'BIT' price shown on the dashboard is a simulated peg used to illustrate the concept (1 BIT = 1 barrel of WTI).

Question 6

How would an oil-pegged stablecoin work?

Accepted Answer

An oil-pegged stablecoin would maintain a fixed relationship to the price of crude — for example, one token representing one barrel or a fraction thereof. The peg could be held through reserves of physical oil, oil futures, or other collateral, with on-chain oracles providing live price data.

Question 7

Why oil instead of gold or fiat?

Accepted Answer

Oil is the most actively traded physical commodity in the world, with deep, liquid markets and continuous global price discovery. Unlike fiat currencies, it is a real asset; unlike gold, it is consumed and produced daily, giving it a natural utility-driven price floor.

Question 8

Where do the live prices come from?

Accepted Answer

Crypto prices come from the public CoinGecko API. Oil prices come from a public quote feed and are slightly delayed (typically a few minutes). All prices are for informational purposes only.

Question 9

How do I get Real BitOil updates?

Accepted Answer

Enter your email on the Real BitOil page. You will receive a confirmation email; once confirmed, you'll get news and major development updates by email. You can unsubscribe at any time.

Question 10

Is this financial advice?

Accepted Answer

No. Nothing on BitOil.com constitutes financial, investment, or legal advice. Always do your own research and consult qualified professionals before making investment decisions.

Question 11

Who is behind BitOil?

Accepted Answer

BitOil is operated by Wet Ocean, an independent research and product studio. Partner and investor inquiries are welcome via the Partners page.

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