BitMoney v2 (BIT) is an entirely new wallet, blockchain, and cryptocurrency for an earlier BitMoney v1. A collateral master node (MN) system is included in the platform. The platform claims that a new wallet, chain, and coin have been launched from the ashes of BitMoney v1's failure. BitMoney v2—Project Phoenix, a community-backed token, is claimed to be a lightning-fast blockchain. The project has already been launched on a few exchanges, with more coming their way.

The platform contains a master node (MN) incentive plan. BitMoney V2 is intended to correct the flaws in the original BitMoney wallet rewards scheme. Many additional incentives are currently being developed, aiming to make BitMoney v2 an intriguing masternode project to join. The team has formed a "round table" of community members to operate as a steering committee, ensuring that project activities are moving in the right direction and that proper communications are sent out to the BitMoney community in a clear and concise manner.

BitMoney claims to offer the following services to clients:

The Project Phoenix team developed BitMoney v2. The maximum supply of the token is 70 billion BITs. BIT was officially launched on Crex24 on October 17, 2018. The new website launch was conducted in February 2019.