Review on bitCNY by erdi yılmaz
bitCNY
It is one of the preferred cryptocurrencies for faster, easier and better payments. BitCNY (BITCNY) is not a very well known cryptocurrency but continues to evolve rapidly.
BitCNY is a distributed cryptocurrency based on the BitShares blockchain, pegged to the Chinese Yuan. bitCNY is not an altcoin. It is rather an asset pegged to the market (Chinese Yuan). Tokens serve as financial instruments designed to track the price of real world assets.
Price increases in the market are not regular. The token aims to stabilize the market price (Chinese Yuan) of the asset it detects. BitCNY's demand comes from users who want the token to gain the same purchasing power as the Chinese Yuan. In summary, bitCNY is a token representing the amount of BitShares (BTS) equivalent to one Chinese Yuan.
Sudden price inflation and deflation are almost impossible.
Pros
- is a faster and easier payment tool
- extreme fluctuations in price do not occur
Cons
- because it is not very popular, its market value is not very high
