25 January 2018 11:49 am
One of the most dynamic platforms in the crypto world, BitShares is onsidered a sleeping giant by many heading into 2018. A decentralized exchange that offers numerous other financial services, it could revolutionize the use of cryptocurrency. Offering decentralized trading, unique SmartCoins, and conventional banking services, BitShares has a lot to like. With centralized exchanges having massive problems and cryptocurrencies struggling to adapt into the real world, BitShares could be the answer.
New investors flooded into cryptocurrency as 2017 wound down. And with the massive gains investors were making, it’s not hard to tell why. But many people’s first foray into crypto came to a screeching halt,when they tried to use an exchange.
Centralized exchanges have withered.
Coinbase adds a million new users a month. Binance adds more than that in a week. In a single hour last Wednesday, 240,000 people made accounts on Binance. Coinbase has 13 million plus users; for comparison,Charles Schwab has around 10 million.
Complaints about centralized exchanges are piling up. Users can’t deposit funds. They can’t withdraw funds. Verifying identity can take weeks. Transaction fees are sliding up, and exchanges often crash during periods of heavy movement. Users have been searching for a better way, and the answer could be decentralized exchanges like BitShares.
Decentralized exchanges are to centralized exchanges, what Bitcoin is to banks: a potential replacement. A lot of the problems with the centralized banking system that inspired Bitcoin are visible right now in centralized exchanges.
Lack of security, high fees, slow transactions, questionable ethics, and so on. Decentralized exchanges are hosted through the blockchain. In a flash, they eliminate most of these problems. Decentralized exchanges like BitShares are faster, cheaper, and safer than centralized exchanges.
Mt Gox. BitStamp. Bitfinex. Experienced cryptocurrency investors know the names, but for crypto-newbies, these are exchanges that got hacked and lost massive amounts of money. Mt Gox lost some 700,000 Bitcoins to unknown hackers. That’s billions at today’s rate. Exchanges are beefing up security, but the fact remains they’re giant floating targets for hackers. BitShares can execute transactions, with
lower fees, and without the risk of hacking.
Lots of centralized exchanges have heavy trading or withdrawal limits. Not BitShares. It’s your money; your trades. You can trade any amount, anytime, anywhere, without withdrawal limits. BitShares is also location-neutral. Highfrequency traders on Wall Street can manipulate markets with lightning fast trades and advanced equipment, ensuring their orders get in before yours. BitShares prevents this.
In addition to the exchange, which could single-handedly revolutionize cryptocurrency, BitShares offers a variety of services through blockchain. These make it a fantastic tool for businesses to build on. Running on a Delegated Proof-of-Stake Consensus, BitShares offers scheduled and regular payments, a useful tool. Dynamic Account Permissions help give employees specific responsibilities. An employee can be assigned certain tasks and powers, but can also be checked by other
The sky is the limit for BitShares. Offering tremendous tools for businesses and investors alike, BitShares has a lot lined up in 2018. You’ll want to keep an eye on the uses of this project.
You can find step by step instruction on how to set up a BitShares Wallet here