BitShares is a decentralised exchange platform for trading cryptocurrencies without leaving the blockchain.
Trustless, fast and able to scale with use, BitShares is a decentralised exchange platform aiming to destabilise the way we currently buy and sell cryptocurrencies. Not content with users having to convert to fiat currencies (like USD and EUR) in order to stabilise their investments, BitShares has created an exchange platform built on the blockchain.
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
What is BitShares?
Icon
Symbol
Initial release date
Algorithm type
Max. supply
BTS
October 2015
SHA-256
3.6 billion BTS
The traditional way of buying and selling cryptocurrencies on an exchange is to convert your coins to and from fiat currency. This means that every time you want to buy or sell cryptocoins, you lose the anonymity inherent in the cryptocurrency and blockchain platform.
While centralisation is understandable (exchanges have a need to tie cryptocurrency prices to real-life assets like USD or gold), there is also the need for a more decentralised, anonymous system, and that’s where BitShares comes in.
The BitShares blockchain platform allows users to convert their cryptocurrencies to stable assets by converting those coins into another cryptocurrency whose value is pegged to a real-life asset (for example, BitUSD is tied with the value of USD).
How is BitShares different from bitcoin?
Unlike bitcoin, BitShares’ main goal is not to be a peer-to-peer currency, but a fully-fledged exchange system with value tokens (such as BitUSD or BitGold) tied to real-life assets.
The BitAsset
Online exchanges are centralised systems. The database is stored on servers controlled by the exchange alone, and you need to create verified accounts to use its services, usually involving scanning your passport or driver's licence. Bitcoin and altcoins are still relatively young concepts and still suffer from wild swings. For this reason, there remains a need for a way to convert cryptocoins into a stable asset – often USD. xchanges serve this need by allowing users to buy and sell cryptocoins by converting from and to USD, EUR and most other common fiat currencies.
BitAssets are BitShares’ answer to this. A BitAsset is a coin pegged to a real-life asset. Its value mirrors that real-life asset’s value. For example, the BitAsset BitUSD follows the value of USD. This way, you can convert your BTS into BitUSD, the same way you would convert BTS to USD, without leaving the blockchain itself. This keeps your anonymity, is instantaneous and costs less in transaction fees.
Today's BitShares price
1
0
Updated: 17 Oct 2018 19:37:49 UTC
Where can I use BTS?
As of September 2017, BitShares are still not widely adopted, especially by merchants. So your only options for using BTS are to send coins to other users of BTS (as payment for products and services, or as a tipping platform) or to support the platform.
Historical pricing of BitShares?
At the time of writing (September 2017), the value of BitShares still mirrors that of bitcoin as do most other altcoins. News and events that are positive for bitcoin will likely be positive for BitShares as well.
From just US$0.06/BTS in 1 April 2017...
BTS rose to US$0.37/BTS in just over two months (13 June, 2017).
Its value fell shortly after, settling to just under US$0.15/BTS in September 2017. BTS was mirroring bitcoin’s decrease in value and the future value of BTS remains to be seen.
Using BitShares to transfer money
Transferring BitShares (BTS) works just like other altcoins and all you need is a wallet compatible with BitShares.
Scan or enter the recipient’s address in your wallet. First, you will need a public wallet address provided by the recipient of your BTS. This can either be an address of letters and numbers or a QR code that you can scan.
Enter the amount of BTS and send. After entering the previously agreed-upon amount of BTS into your wallet, and confirming that you have the necessary funds, simply send over the coins. The transaction will be received instantly and verified in a few minutes.
How to get BitShares
Get paid in BTS. While not widely adopted by merchants and users, nothing stops you from accepting BTS as payment for products and services if you’re an online merchant or service provider. The only problem would be to find users who also own BTS because, at the time of writing this guide (September 2017), not many users own BTS, with most coins being held by a few users as investments.
Frequently asked questions
In September 2017, there were 2.6 billion BTS circulating in the market, and another 1 billion BTS were being held in reserve by the development team behind BitShares. This reserve is used to pay BTS miners as compensation for helping maintain the integrity of the BitShares platform.
Want to buy bitcoin but don’t know where to start? This comprehensive guide provides step-by-step instructions on how and where to buy BTC in Australia.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.
Products marked as 'Promoted' or "Advertisement" are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options and find the best option for you.
The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.
We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use for more information about our services and our approach to privacy.
