Q: Is Bitshares safe?

We currently don’t label Bitshares as a trusted exchange . However, this doesn't necessarily mean that it is unsafe. Make sure to check the exchange’s security practices and track record before you deposit any funds.

Question 1

Is Bitshares safe?

Accepted Answer

We currently don’t label Bitshares as a trusted exchange. However, this doesn't necessarily mean that it is unsafe. Make sure to check the exchange’s security practices and track record before you deposit any funds.

Question 2

How do you put money in Bitshares?

Accepted Answer

You can fund your account on Bitshares by depositing cryptocurrency.

Question 3

Can you deposit fiat on Bitshares?

Accepted Answer

No, you can’t deposit fiat currency on Bitshares. This means that Bitshares is designed for users who already own some cryptocurrency.

Question 4

Can you buy crypto on Bitshares with credit card?

Accepted Answer

Currently, you can’t buy crypto with a credit card on Bitshares. If you're looking to buy cryptocurrency with a credit card, you can check out our list of the top exchanges that allow you to buy crypto with a credit card.

Question 5

Can I trade with USDT stablecoin on Bitshares?

Accepted Answer

No, you currently cannot trade on Bitshares with the USDT stablecoin. If you want to trade USDT, you can check out the available options on our list of cryptocurrency exchanges that list USDT.

Question 6

Does Bitshares have a mobile app?

Accepted Answer

No, the Bitshares exchange currently does not have an official mobile app.

Question 7

Is Bitshares a centralized or decentralized exchange?

Accepted Answer

Bitshares is a decentralized cryptocurrency exchange. Users hold cryptocurrency in their own wallets, and the trades are executed through smart contracts on a blockchain. Decentralized exchanges are suitable for users that have some experience with cryptocurrency wallets and smart contracts.

Question 8

How many cryptocurrencies can I trade on Bitshares?

Accepted Answer

You can trade 0 tokens on Bitshares across 0 trading pairs.

Question 9

What is BitShares?

Accepted Answer

BitShares project serves as a DEX platform on which people can trade cryptocurrencies with ease. The goal of the network is to be a fully fledged exchange where value tokens will be tied to real life assets. BitShares wants to create a more decentralized ecosystem where users can remain anonymous in their transactions. Also, the fiat currency market is less volatile than the crypto market so by using the smart coins or bitAssets it is easier to predict the movement of the market. The protocol has its own BTS token which is used as collateral within the network itself.

Question 10

How does BitShares work?

Accepted Answer

BitShares gives loans using smart coins as collateral and also separates the bookkeeping process and the issuance of IOU to add security to the network. The blockchain utilizes Gateways to allow assets to be traded on it, through which your tokens are stored directly to your wallet after the purchase. Also, know that BitShares makes it possible for users to convert their cryptos to stable assets which is another token whose value is pegged to a real life asset. Since it serves as a decentralized exchange it prevents risks which might come with a counterparty.

Question 11

How to use BitShares?

Accepted Answer

To use Bitshares you will need to go to the website of their DEX, and you can do that by clicking here. From there you will need to create an account by coming up with an account name while a password will be automatically generated for you. After you retype the password in the “confirm password” window and write it down somewhere to keep it safe you will need to agree to terms and conditions. Note that if you lose your password no one will be able to recover it for you. Once you are done with setting up your account you can customize it to your liking and freely trade on the exchange.

Question 12

What makes BitShares different?

Accepted Answer

BitShares allows users to trade in bitAssets which are pegged to the real life assets and, as we mentioned, it makes it easier to predict market movements. It can handle a large amount of transactions and trades while it also has good throughput and fast block time. The project aims to allow their users more privacy in their transactions and it is one of the only platforms which separates the bookkeeping process and the issuance of IOU.

Question 13

Why are BTS tokens valuable?

Accepted Answer

Holders of BTS tokens can refer people to the network and earn profit through the referral rewards program. They are also used as a collateral within the network for the loans and it can not be mined. Also to convert tokens on the BitShares network you will need BTS as they make the conversion to bitAssets possible. The token is traded daily within the community on some of the major exchanges.

Question 14

Is BitShares a good investment?

Accepted Answer

The project had Wall Street in mind when they built their smart contract blockchain. The project has a lot of potential and they might be just one great partnership away from realizing it..With all that being said, remember that the crypto world can be extremely volatile so it is no large surprise that experts are divided on the future of the platform. If you want to invest in BitShares make sure you only invest an amount you are willing to risk.

Question 15

How do I get BTS tokens?

Accepted Answer

There are two options you can use when buying BTS tokens. You can either use one of the major exchange platforms which hold the token or buy them directly from one of the holders via peer-to-peer exchange. The exchange platforms offer you the option of buying BTS directly for fiat currency or swapping another digital asset for them, depending on the exchange you prefer using. When utilizing the peer-to-peer exchange you are receiving these tokens directly from the holder to your crypto wallet and sending an equivalent amount in fiat currency to their bank account.

Question 16

What is the current price of BTS tokens?

Accepted Answer

On {{current_date}}, the price of a BTS token is {{coin_price}}.

Question 17

How many BTS tokens are left?

Accepted Answer

There are currently {{coin_max_supply}} BTS tokens on the market, with {{coin_coin_remaining_supply}} tokens available.

Question 18

Are the BitShares transaction fees high?

Accepted Answer

BitShares has different fees within the network and the amount you will be charged for each depends on your membership status. To learn more about how the membership status affects transaction fees please click here. Most of the exchanges which support the BTS token have a trading fee from 0.1 to 0.75% and a withdrawal fee from as low as 1 to as high as 34 BTS.

Question 19

Are BTS tokens legal?

Accepted Answer

The world has been more open-minded to the acceptance of cryptocurrency, lately, we have seen some of them become payment options in certain countries as well as on some of the biggest e-commerce platforms. This is probably since some cryptos had a major increase in value in the last several years. However, this doesn't change the way that their legal status varies from one part of the world to another. Click here to check if cryptos are legally allowed in your country.

Question 20

Where can you store BTS tokens?

Accepted Answer

You can store your BTS on any software or hardware wallet which supports the token. Note that the hardware wallets are generally more expensive but are also safer. If you prefer keeping your tokens on the exchange where you bought them from that is also a possibility but some look at this option as unsafe since your tokens own a third party. Viewed as the safest way to store your tokens by many is to spread them out. This way if something happens to one of your storing options you are not risking all of your tokens.

Question 21

How do you cash out BTS tokens?

Accepted Answer

BTS can be cashed out through any of the exchanges which support the token. Some might even offer the option of directly exchanging them for fiat currency. If this is not the case with your preferred exchange you can simply swap BTS for ETH or BTC and then exchange those for USD, GBP, or EUR. Also, keep in mind that you can utilize the peer-to-peer exchange by sending BTS to another person’s crypto wallet and receiving an equivalent amount in fiat currency to your bank account from them.

Question 22

Is BitShares safe?

Accepted Answer

Bitshares and its token are used daily within the crypto community so they are deemed safe enough. Also, like any other crypto platform, they have standard security measures in place. However, do keep in mind no crypto platform or network is completely secure. You should do some research on your own on Bitshares and its token before making your final decision if this is something you want to get yourself into or not.

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