Review on NuBits by Mohammad Shuja

NuBits employs a system that is reliant on its customers and ecosystem in order to minimize volatility and ensure long-term sustainability. The system is divided into a series of six liquidity tiers, which are essentially methods to influence the demand for NuBits currencies and control the supply of coins in accordance with that demand. When a Liquidity Provider operates in one of these levels, they purchase and sell orders in the open market, where selling orders are executed at prices slightly higher than $1 USD and buying orders are executed at prices somewhat lower than $1 USD. The NuBits cryptocurrency may be used for all of the same purposes as any other transaction-based money in the crypto world, but it boasts of being simpler to use than other currencies due to its increased stability.



It would be lot simpler to buy and trade cryptocurrencies if you didn't have to worry about liquidating your currency and having to compute the value in fiat currencies all the time, which is what NuBits hopes to achieve with its objective of having a 1:1 relationship with the USD. The fact that NuBits does not impose vendor fees or customer chargebacks, in contrast to credit cards or other means of payment, makes it much simpler to pay with NuBits. It also makes it the perfect currency for transferring money over long distances to relatives or friends in a quick and inexpensive manner. With NuBits and its claimed stability, it is also feasible to save money without having to deposit it in a bank. Converting your money to NuBits coins (USNBT) and keeping it in your wallet is potentially a perfect alternative to traditional banking institutions since there are no ups and downs in the cryptocurrency market.



Even if a cryptocurrency promises stability, this does not imply that it is entirely stable, as NuBits has shown to be an excellent example. Unfortunately, it has had a number of ups and downs despite its aim of pegged to the US dollar, and it is still a long way from reaching the 1 dollar mark. Of course, the fact that NuBits has not delivered on its promises in full does not imply that the currency is a total and utter failure. Although the company's statistics aren't very impressive, the efforts put forth by the staff to keep it stable are really admirable. Despite the fact that it may have decreased the available supply at the time, a solution was required, and the team came up with one. Such a demonstration of fast thinking and problem-solving abilities is something to be appreciated, and it gives us reason to believe that NuBits, despite its turbulent history, has a bright future ahead of it.