1 Level
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38 Karma
Review on BitShares by comando lee
Aside from security, one of the main advantages of trading on BitShares is…
Aside from security, one of the main advantages of trading on BitShares is that it takes away some of the volatility of the cryptocurrency market with the use of SmartCoins. This is where one of the main differences between BitShares and Bitcoin lies. BitShares isn’t aiming to be a peer-to-peer currency. Instead, it aims to be an exchange system with value tokens that are tied to real-life assets.
Pros
- Signing up for a BitShares account is quick and easy. Users aren’t asked to provide vast amounts of personal information in order to register for an account and trade on the platform. This stands in stark contrast to centralized exchanges, which must obtain such information in order to comply with government regulations. BitShares states that the platform is more resistant to failure thanks to this decentralization. Users are in control of their own security rather than having to rely on a third party such as a centralized exchange.
Cons
- BitShares is still very much in its infancy, and as such, there isn’t a huge number of people who have fully experienced the platform and what it has to offer. There’s also little in the way of in-depth reviews. Overall, users tend to praise the transparency of the decentralized exchange but argue that it’s more complicated to use than centralized exchanges such as Binance and Coinbase. However, the fact that a person’s username is also his or her wallet address does provide an element of simplicity.
