BTS

Overview of BTS

BTS, short for BitShares, is a type of cryptocurrency that was founded in 2014. The main founders of BTS are Dan Larimer and Charles Hoskinson. BitShares operates on its own blockchain protocol and promotes itself as a financial services platform with a focus on stability and industrial-grade technology.

BTS coins can be traded on various exchanges, including Binance, Huobi, Poloniex, HitBTC, among others. For storage, various wallets like the BitShares Wallet, Trust Wallet, and Coinomi Wallet support BTS tokens. So, the users have the flexibility to choose from a wide range of storage options based on their preferences. This provides an overview of the BitShares (BTS) cryptocurrency.

Pros and Cons

What Makes BTS Unique？

BitShares (BTS) distinguishes itself from many other cryptocurrencies by functioning not just as a token, but also as a decentralized exchange (DEX) platform. It emphasizes on being a financial services platform with integrated services like banking, asset issuance, and governance, among others.

One of the key innovations of BitShares is its utilization of delegated proof-of-stake (DPoS) algorithm, which is a form of consensus mechanism aimed at increasing the speed and efficiency of transactions. This differs from the traditional proof-of-work (PoW) or proof-of-stake (PoS) algorithms used by many other cryptocurrencies.

Another unique aspect of BitShares is the concept of smart assets known as SmartCoins. These are digital assets whose values are pegged to those of real-world assets, like USD or gold. These SmartCoins offer the stability of real-world assets while benefiting from the efficiency and security of blockchain technology.

How Does BTS Work？

BTS is a multi-purpose cryptocurrency that can be used for payments, trading, staking, voting, and creating and trading assets. It is used to fund the BitShares working budget, which is used to pay for the development and maintenance of the network. BTS can be used to send money to friends and family, buy other cryptocurrencies or fiat currencies on exchanges, create and trade fiat-pegged stablecoins, commodities, and securities on the BitShares DEX, and support the BitShares network by staking. BTS holders can also use their tokens to vote for block producers and witness candidates, who help to secure the network and maintain its decentralized governance.

Exchanges to Buy BTS

Several exchanges support the purchase and trading of BitShares (BTS).

1. Binance: This platform supports BTS trades with pairs such as BTS/BTC, BTS/ETH, and BTS/USDT.

2. Huobi: On Huobi, trading pairs include BTS/BTC, BTS/ETH, and BTS/USDT.

3. Poloniex: Poloniex offers trading pairs like BTS/BTC and BTS/USDT.

4. HitBTC: This exchange provides support for trades involving BTS/BTC and BTS/USDT.

5. OKEx: OKEx supports BTS trading with pairs like BTS/BTC, BTS/ETH, and BTS/USDT.

How to Store BTS？

Storing BTS, like other cryptocurrencies, involves using digital wallets that can support the BitShares blockchain. These wallets store the public and private keys required to access, send, or receive BitShares tokens. There are several types of wallets that you can use, and one is recommended based on individual requirements like convenience, security level, ease of use, and device compatibility.

Some of the digital wallets supporting BTS are: BitShares Wallet\Trust Wallet\Coinomi Wallet\Ledger Wallet\Freewallet.

It's essential to keep your wallet's private keys secure and back up your wallet as losing these keys would mean losing access to your tokens. Consider each type of wallet and its features, and choose the one that best fits your needs.

Should You Buy BTS？

Investing in BitShares (BTS) might suit individuals willing to accept a high level of risk in exchange for potentially high returns. This might include experienced investors already familiar with the cryptocurrency market and its volatility, as well as those who have a firm understanding of the underlying technology, and professionals whose businesses could leverage BitShares blockchain technology.

FAQs

Q: What differentiates BitShares from other cryptocurrencies？

A: BitShares presents itself not merely as a cryptocurrency but also as a decentralized exchange and a financial services platform, with functionalities like asset issuance and governance.

Q: What is the financial risk associated with investing in BTS？

A: Like all cryptocurrencies, investment in BTS comes with financial risk due to the volatility of the cryptocurrency market and should only be done after careful research and consideration.

Q: Does BitShares offer any distinctive features？

A: Yes, BitShares introduces the concept of SmartCoins, digital assets pegged to real-world assets, offering the stability of traditional assets with the advantages of blockchain technology.

Q: How is the success of the BTS token linked to its founders？

A: The success of the BTS token is significantly bound to the vision and effective execution of plans laid out by its founders.

Q: Is there a real-time count of BTS tokens in circulation？

A: The number of BTS tokens in circulation is variable and best tracked through reputed cryptocurrency exchange sites or coin market capitalization trackers.