BitShares Cryptocurrency Review
What is BitShares?
BitShares is a cryptocurrency that operates more like an equity rather than a normal currency: BTS tokens are used for a variety of financial services in the decentralized arena like smart contracts, use in exchanges, banking, bitAssets and more.
BitShares is a complete decentralized exchange that is equipped with all the expected features of a well-marked trading platform. It assures the customers that they will never be cheated ever again trusting third parties as they used to do while using centralized exchanges like Mt. Gox, BitStamp, MF Global etc.
Irrespective of the area of extension, centralization always invites the motive of undesired occurrences to occur. BitShares, being the first decentralized exchange ever, has come up with a new resolution to this issue.
Features of BitShares
It provides the immunity against devastating incidents. Centralized exchange systems are prone to attacks which may affect a huge portion of the user community and their funds whereas in a decentralized system, risks of attacks come personally as the security of the assets of one’s own is completely maintained by the very user.
In centralized exchanges, the responsibility of monitoring the secret keys of the funds is shared by multiple people. That makes the condition more vulnerable because three can keep a secret when two are dead! That is why decentralization is the safest option.
- Speedy performance
BitShares maintains equity among the community as there are no scopes for high-frequency trading, hidden orders or front-running. Being location-neutral, it provides balanced facilities to the users and trades are executed swiftly like any other centralized website interface.
BitShares allows the users to trade on their own accord. They can trade any amount from anywhere anytime. Unlike other exchanges, it does not impose daily withdrawal limits on the customers. Proper documentation is a common requirement in order to exceed the standard limits. A few exchanges like Coinbase sometimes impose restrictions on the way the users can use their funds. Other exchanges ask for documents related to the way of earning crypto-assets. BitShares provides complete financial freedom to the community in these regards.
- Low fees for trading
Low cost of trading is a prime demand of the traders around the globe. BitShares is one of those exchanges that charge the lowest percentage of the total volume of transaction. To compare, BitStamp charges $5 for a trade of $1000 whereas the customer will have to count only $0.01 to make a trade of the same size. Other conventional exchanges like E-trade, Scottrade etc charge over $5 for each trade. Therefore, it is needless to say that BitShares is very much trader-friendly in case of trading cost.
- Acceptance of any asset
Along with fiat money and cryptocurrencies, BitShares also allows any valuable assets like gold, silver, oil, gases and so on. There exist a few limits to what can be traded on BitShares, provided sufficient interest. It can provide support to the assets that can track bonds, stocks, indexes, or market bloating. Different organizations are allowed to issue the stock of their own on the network of BitSharess and to trade with security against the illegal practice of short selling shares that have not been affirmatively determined to exist.
BitSharess appears to be one of the most convenient exchange platforms with rich, traders-friendly features. Let’s hope for the best in upcoming days.