Bitshares - Still Down But Overtaking ETH on Daily Trading
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Created by Steemit co-founder Dan Larimer in 2014, Bitshares is quite possibly the ultimate cryptocurrency underdog.
Still down from an early January high of $0.92, Bitshares is currently trading at just $0.23. That said, the digital currency is still up by 100% on November 2017 trading prices. What is more, unlike many other sltcoins, Bitshares easily has one of the strongest use cases on the cryptocurrency market.
Will Bitshares Retest $1 Within 2018’s First Quarter?
On February 17th, Bitshares recorded a higher level of on-blockchain trading than second in line to the cryptocurrency throne, Ethereum. What is more, despite still being off many investors radar, Bitshares is currently in third place in terms of overall cryptocurrency market trading volume, making the digital currency more in use than even Bitcoin.
What is Bitshares & Why Isn’t Bitshares on More Investors Radars?
The reason for Bitshares current obscurity is simple. While having a unique use case, many investors simply don’t know what exactly Bitshares does. What Bitshares is, however, is arguably the world’s first true decentralized cryptocurrency exchange.
Bitshares as a Cryptocurrency & Trading Platform
At the start of February, millions of cryptocurrency investors were caught off-guard by the sudden (albeit temporary) shut down of the popular trading platform, Binance. Thankfully, Binance has since reopened its doors and allayed many users hacking fears.
Sadly, despite returning to normal operation, the unexpectedwithdrawal of Binance from the market has reminded many investors just how high-risk centralized exchanges like Binance and Coinbase really are,
Thankfully, Bitshares, might just be the answer to many investors exchange security worries. This is because Bitshares is both a cryptocurrency and fully-fledged trading platform upon which multiple cryptocurrencies can be stored and exchanged securely on Bitshares own decentralized blockchain.
How to Use Bitshares & Why You Should
Bitshares is both a cryptocurrency and exchange. However, people looking to use Bitshares as an exchange don’t need to buy Bitshares tokens in order to do so. Instead, users can open an account simply by visiting bitshares.org.
After signing up to Bitshares, users will encounter a similar user interface and exchange feature set to that of Coinbase. However, unlike centralized exchanges like Coinbase, users benefit from:
- An inability for Bitshares to ever freeze account funds
- Safer private data security - (No sharing of personal information with any third party)
- An inability for governments or hackers to ever shutdown Bitshares
- A safer way to store several digital assets and exchange these instantly without trading
- A way to counter cryptocurrency price volatility by pegging digital currency to USD backed Bitshares tokens
Why Bitshares Will Likely Rise Significantly in Value in the Long-Term
There are three key reasons why Bitshares will likely rise significantly in value in 2018.
- Bitshares trading volumes are consistently increasing, meaning that the platform is expanding in popularity
- Bitshares eliminates digital currency price volatility by allowing people to buy 'BitAssets' pegged to real-world currencies and commodities like gold and the USD.
- Decentralized exchanges are becoming more popular, as more traders and investors seek out more robust asset protection and personal data privacy.
Should You Invest in BitShares?
Bitshares has declined significantly in value since December, however, this is only due to the fact that the cryptocurrency market itself has pulled back after a period of rapid growth.
Of course, Bitshares recovery is lagging. The reason for this, though, lies not with Bitshares not having a robust use case. Instead, lower prices at present are largely due to investors simply not being aware of the currencies true potential.