Currencies > BitShares (BST)

Zcash (ZEC)

What is BitShares?

The BitShares project is a digital exchange on a blockchain with its own digital currency (the exchange designation BTS). The idea of the developers was just in decentralization, its absence was the reason for hacking many trading platforms. The BitShares coin is a kind of promotion, the value of which is calculated based on the products offered by the trading platform. Thus, it is the same asset as, for example, dollar or gold. BitShares mining is not available.

Benefits of BitShares

  • Transaction speed. Financial transactions take only 5 seconds in the BitShares blockchain.

  • Decentralization. Full decentralization of the BitShares exchange provides reliable protection for users. That is, in fact, its hacking is impossible. This ensures high reliability of the cryptocurrency.

  • Minimum commission. Thanks to the special solutions used on BitShares, transactions in the system are not only fast, but also cheap. Reducing fees was one of the main goals in the development of the BTS cryptocurrency.

  • Real value. Unlike other types of digital money, which are not backed by anything, BitShares is provided with the goods of the trading platform, as well as its services. Therefore, it is much easier to predict the value of an asset than, for example, in case of bitcoin.

  • Increased throughput of the system. The technical capabilities of the trading platform allow more than 10,500 transactions per second. For comparison, bitcoin has the ability to conduct no more than 7 financial transactions per second.

How to buy BitShares

The BTS cryptocurrency has spread to many of the world's leading crypto-exchanges. In particular, you can buy BitShares on Binance, HitBTC, Poloniex, Huobi. However, there are not many people offering this coin. The most active work is carried out on less known sites. In particular, carries out transactions with the BTS/ZB pair totaling more than $ 600 000. At the same platform, the BTS/USDT pair is traded for $300,000 overall. As for the more popular cryptocurrencies, you can buy the BitShares coin with ETH on OpenLedger. The total amount of transactions on the trading platform for this pair reached $590 000. To buy BTS for BTC, you can contact the CoinEgg exchange. The volume of operations on the platform is $ 140 000.

The new generation ChangeNOW exchanger soon will offer you to get rid of a headache with the search for crypto-exchanges trading BitShares. Using our service, you’ll be able to exchange BTS for BTC, ETH, BCH, LTC and 150 other cryptocurrencies. Also, at the site, you’ll be able to buy BitShares with credit card. With ChangeNOW, you will forget about the need to convert less popular digital coins into more popular ones to buy the right currency. You will forget about the long wait, because transactions in the system take only a few seconds. All operations are protected. So, if you wonder “where can I buy BitShares”, just come to ChangeNOW.

How to store BitShares

The storage of BitShares is possible through the official BitShares wallet. In order to store digital money, you need to download the installer of the latest version of the wallet to your device. You can find it both on the service website and on third-party resources such as GitHub.

After downloading and installing the repository, you will be prompted to agree to the license agreement. In the next window, enter the password. Next you will need to register an account. You should select the account name, then click on the “Create account” button.

Your account is a public key with which you can send cryptocurrency, login to websites, and sign messages. The number of accounts in the system is not limited, so the user can get multiple wallets for different purposes.

So, as soon as the registration process is over, it is recommended to create a backup immediately. You can do this directly in your account. At the bottom there is a Backup Brainkey Recommended button. Click on it, then you will be transferred to the password creation page. Try to find a password that is strong enough and wasn’t used anywhere else.

If an attacker gains access to the backup, he can steal the wallet. After entering the password, you will also be prompted to generate a Brainkey, with which you can restore access to your account. Then confirm this key, write it down on a piece of paper and hide it away so that no one can find it.

Note that you can make a backup once to access the balances. However, transactions may be lost. Therefore, it is best to back up at least once every 1-2 months. Then the history will be more or less relevant. By the way, the backup is also used to enter the wallet from another computer. The usual typing of login and password will not work.

Future for BitShares and price prediction

For a very long time, BitShares cryptocurrency was not worth anything at all. The BitShares price did not even reach 1 cent. Soon after the launch, the cost of the coin rose to 3 cents, but soon collapsed back and kept at a minimum until April 2017. Then the price rose to 3 cents, and then began to increase gradually. In just 2 months, already in June 2017, the coin could be purchased for 26 cents, according to the BitShares news. Then followed another collapse of quotations, and in October, the cryptocurrency was worth 6 cents. After that, BTS began a serious growth and achieved the maximum value. In January 2018, it reached the highest level, and it could be bought for 55 cents. After that, BitShares went down, and by February 2019 its value did not exceed 4 cents.

In the bearish trend on cryptocurrencies, it is too early to expect a rapid growth. However, there are some prospects for BitShares. The project allows you to digitize assets and to work with decentralized digital money. Its advantages promise it a good perspective, where the position of the cryptocurrency in the world will be restored, given the fact that digitization can be extremely interesting for business. The price of coins is tied to the successful development of the site. And there are many opportunities for this.

What’s the difference between BitShares and other cryptocurrencies

The key BitShares difference from other cryptocurrencies is a protocol based on delegated proof (DPoS). In other systems, the confirmation of financial transactions involves miners. The BTS team thought differently and decided not to pay millions to people for these purposes. Special delegates are called upon to confirm financial transactions. They are selected by the holders of coins. Theoretically, anyone who has an account at BitShares, can become a delegate. In total, there are 101 delegates for now.

Each delegate on the network can sign a maximum of 1% of transactions. In the case of Bitcoin, most financial transactions are confirmed by 4-5 major users. If you are not satisfied with the delegate certifying your transactions, you have the right to refuse his services and choose someone else.

Who can be interested in BitShares

Mainly, BitShares should be of interest to users who work on the exchange, but want to get a better protection of their data and accounts. In addition, BTS will be useful for users who want to create decentralized companies and provide income to investors. Therefore, if you intend to use all the advantages of decentralization, this is the best solution for you.