If you’re on this page, you’re probably a fan of cryptocurrencies, and Bitcoin in particular. Bitcoin has many advantages over its competitors: it promotes transparency, for example, and is the world’s favourite currency for investors. But other aspects of Bitcoin qualify its performance. While in theory Bitcoin claims to be decentralised, the reality is quite different.
So it was initially with the aim of overcoming Bitcoin’s shortcomings that BitShares (BTS) was created in 2014. Formerly ProtoShares (PTS), this cryptocurrency is renowned for its security and stability. Its innovative blockchain and large market capitalisation have not left the ecosystem unnoticed.
If you want to invest without most of the risks, BitShares is the cryptocurrency for you!
In this article, you’ll find out everything you need to know about the BitShares network.
Presentation of BitShares (BTS) in a few figures
BitShares (BTS) price chart in euros
BitShares price
Source: CoinMarketCap
The current price of BitShares
The price of BitShares has been trending upwards since the beginning of 2021. The BTS started the year at around 0.01 euros. Its highest price this year was reached on 17 April, with a value in excess of 0.12 euro. It then fell back to around €0.07 on 24 April. This was a one-off event and does not reflect the overall trend in the BitShares price. In fact, the price has started to rise again. The price of BTS is currently fluctuating around 0.1 euros, with nearly 15 million dollars worth of transactions every day. This is an interesting development to take into account, particularly when forecasting the future price of BitShares. See the current price of other cryptocurrencies.
BitShares share price history
2014: When it arrived on the cryptocurrency market in 2014, the price of BTS remained below the 0.01 euro mark. From the end of August to the end of October that same year, the price rose and reached 0.2 euro, before falling to stabilise at around 0.01 euro.
2015: At the beginning of the year, the value of BitShares fell, dropping below the €0.01 mark for the rest of the year.
2016: During 2016, the value of BitShares remained stable and still well below 0.01.
2017: While 2017 started with a value still around €0.01, the rest of the year was more eventful. From April onwards, the value started to rise and reached its highest peak of this year in June, with a BTS for €0.31. The value then fell to €0.04 at the beginning of October. At the end of the same month, the price rose again.
2018: In 2018, the price of BTS continued to rise and even exceeded €0.66 in January of that year. In December 2018, the value of BTS fell back to €0.03.
2019: The BTS began 2019 with a value of 0.03 euros. The general trend for BitShares that year was downwards. The BTS ended the year at a value of 0.01 euro.
2020 : The year 2020 saw relatively little variation in the price of BTS, such that it remained at around 0.01 euro.
Bitshares stock market listing
In 2014, BitShares was worth almost $3.6 million (just over €3 million).
At the end of March 2021, the total value of the BTS currency was $228,959,797 (around €191,654,232). This places BitShares 157th among the world’s most valuable cryptocurrencies. Today, its market capitalisation is estimated at €367,074,07 million as at 5 May 2021, according to CoinMarketCap.
What factors affect the value of BitShares?
Like any cryptocurrency, the value of BitShares can change. So there are a number of factors to consider before investing in this token. Especially as cryptocurrencies are neither backed by governments nor by companies.
Here are the main factors that can cause the value of BitShares to fluctuate.
The issue of BitShares tokens
The BitShares network offers its own currency, with an issue limit of 3.7 billion BTS. Such liquidity offers the possibility of establishing trading strategies, leading to entries and exits on the market and thus being able to fluctuate the price of BTC. In January 2021, there were 3 billion BTS in circulation, equivalent to 83% of BitShares’ issuance capacity.
The law of supply and demand
Supply and demand obviously influence the price of a token. As with all other cryptocurrencies, the more demand there is for a BTS, the higher its price, and the same applies in reverse.
The mining reward
The reward for mining also has an impact on the value of BitShares. The more attractive the miners’ rewards, the more interested users will be in mining BTS. Which brings us to our next point: the importance of the number of users.
The reputation of the BTS token
The more people there are on the BitShares network, the more likely it is that the value of the BTS will fluctuate, and in this case increase, because blocks can be validated more quickly.
In addition, the value of other cryptocurrencies, especially those in direct competition with the BTS, influences its price. The price of the BTS token can therefore change in the face of competition.
The number of exchanges and transactions in the cryptocurrency also has a positive or negative impact on the value of BitShares.
Current laws and regulations
Finally, the regulations and laws governing cryptocurrency may restrict or more tightly control the activity of certain cryptocurrencies. This will obviously have an impact on the price of the token.
Forecast and future of Bitshares
BitShares has growth potential. In the first four years of its life, the value of BTS increased 10 times from its starting price. Furthermore, the falls or rises in the price of BTS since 2014 are not abnormal for the cryptocurrency environment. BitShares is a relatively stable cryptocurrency with low volatility.
TradingBeasts expects the value of the token to remain stable this year with a value of €0.14. The site expects a slight long-term increase in the token’s value over the next three years. For example, the BTS would reach €0.16 by the end of 2022, €0.18 in 2023 and €0.2 in 2024. So a small rise is expected, but a rise nonetheless.
Wallet Investor is more pessimistic about the future of BitShares. According to its estimates, the BTS price will almost always be below €0.1 in 2024, for example.
It should be borne in mind, however, that these predictions are made using algorithms based on past data. Future events cannot therefore be correctly taken into account in the calculations. Whatever the predictions, it is important to remember that, overall, BTS is a very stable cryptocurrency, with fairly small fluctuations.
All about BitShares
Origins of the BitShares project
BitShares is an industrial-grade cryptocurrency that was created in 2014 by Dan Larimer. This is the same computer scientist behind other well-known cryptocurrencies such as EOS, Block.one and Steemit. Larimer is a recognised name in the cryptocurrency world, as he is notably regarded as a frontline innovator. BitShares was co-founded by Charles Hoskinson, the entrepreneur and mathematician behind Ethereum, the world’s second most coveted cryptocurrency. In the end, Charles Hoskinson quickly withdrew from the project, without any public explanation.
At the origin of the BitShares initiative, Dan Larimer wanted to set up a platform combining the functionalities of both Bitcoin and Ethereum. He also wanted to add the activities of a decentralised bank.
Objectives of the BitShares platform
One of the possibilities offered by the network is the adoption of platform assets, also known as bitAssets. These are indexed to real values such as the dollar or the euro. This feature offers a real guarantee of stability, compared with other cryptos, which is a significant advantage.
In September 2020, the network announced the creation of New BitShares, a new project not directly related to BitShares. Following this, BTS owners were able to obtain New BitShares tokens (1 BitShares for 1 New BitShares).
BitShares has gained experience and has been able to evolve while contributing to the improvement of the cryptocurrency industry. In January 2021, the network had 17 permanent employees and more than 60 contributors working with the network on a long-term basis. These professionals contribute their expertise in legal matters, IT development and economics. This technical environment fosters innovation to continue revolutionising blockchain and possibly supply any industry that needs it in the future.
BitShares is now counted among the world’s top altcoins. The network aims to outperform Wallstreet in terms of speed, security and efficiency.
Ultimately, BitShares is more than just a cryptocurrency; it’s a veritable ecosystem, which has become increasingly professional over the years.
How does BitShares work?
BitShares is based on a network and a book, both delivered peer to peer. The network also relies on a Delegated Proof of Stake (DPoS) algorithm to secure its platform. The exchange platform also uses another algorithm, Graphene. This method is an open source blockchain technology.
BitShares therefore needs “witnesses” and a decentralised voting system to operate. The aim of this method is to establish a democratic consensus that bypasses any potential negative effects intrinsic to centralised systems. For example, the DPoS algorithm limits the need for multiple confirmations during exchanges. The direct consequence of this measure is the guaranteed speed with which transactions can be validated.
Delegated Proof of Stake and Graphene are two algorithms that deliver impressive performance for BitShares. This is why the system is able to support almost 100,000 transactions every second.
What’s more, the network is managed by a Decentralized Autonomous Company (DAC). This gives users the opportunity to decide on the direction and future of the token.
In addition, BTS are used as collateral, so BitShares behaves more like an “equity currency”.
Finally, another very practical feature for any user of the platform concerns the portfolio address. With BitShares, the wallet address corresponds to the user name. This ingenious feature enhances the customer experience and avoids long names that mix numbers and letters.
What is BitShares used for?
Access to a decentralised network for cryptocurrencies
Most cryptocurrencies, especially the most famous ones like Bitcoin, are actually centralised. This certainly offers a degree of security compared with traditional money, but in some cases it can prove problematic. In a centralised system, power, particularly that of the miners, is in the hands of a few individuals and is not evenly distributed. In the case of Bitcoin, 60% of miners are located in China, which gives the country’s miners considerable decision-making power.
The solution offered by BitShares is to use the same technology as Bitcoin, i.e. the blockchain, but in a totally decentralised way. In all cases, in terms of speed of execution and efficiency, BitShares has won the bet.
Customised reserve levels
With BitShares, as a user, you can lend your BTS assets by customising the reserve levels (minimum 200% of reserves and up to 2000%). If price sources are available, BitShares affiliates with any equity pair, whether currencies or even commodities.
Exchanging different types of asset
Another particularly interesting feature of BitShares is the ability to trade different types of asset in addition to the BTS. In practical terms, users can trade Smartcoins, for example, and even invent their own assets. SmartCoins are influenced by the price of real currencies such as the dollar. For example, one bitUSD will always correspond to $1. So there is no risk of devaluation, and you can always benefit from its performance. In fact, the SmartCoin will always have at least 200% of its value guaranteed by the central currency of the BitShares system. BitShares is therefore in direct competition with traditional banks.
BitShares partnerships
Partnership with Arisbank in 2017
In 2017, Arisbank signed a partnership agreement with BitShares. The world’s first decentralised bank specialising in cryptocurrencies was therefore the first company to initiate a collaboration. At the time, Bitshares committed to equipping Arisbank with a platform for real-time delivery of products and services offered by the bank. This opportunity underlined the expertise and professionalism of BitShares.
Partnership with Nomics in 2020
In February 2020, cryptocurrency services company Nomics finalised a “deep data integration” with BitShares. After evaluation, Nomics awarded the network an A+ rating. With this qualification, Nomics has committed to inspecting BitShares’ trading history. In addition, the company has verified that the BitShares network meets the highest standards of reliability, consistency and data protection. Nomics Managing Director Clay Collins said:
“By many credible accounts, BitShares is the first decentralised crypto exchange to operate on a large scale. Given their importance to the ecosystem, we are delighted to have them as one of our key exchange partners”.
ProtoShares becomes BitShares
The project was originally called ProtoShares (PTS) in 2013. ProtoShares (PTS) quickly became BitShares (BTS) (in 2014).
How can I get BitShares tokens in 2021?
You can buy BitShares directly with bitcoins on dedicated sites. We particularly recommend Coinbase. See the Coinbase website.
You can also get paid directly in BTS to obtain these tokens. Finally, you can visit the BitShares website to obtain BTS.
Can I mine Bitshares?
At the beginning of its existence, the ProtoShares token could only be mined via a processor. PTC tokens were not pre-mined, which caused the token’s value to rise to $9 (around €7.50). However, the main problem was the cost of the equipment needed by the miners. They had to pay a lot of money for very powerful software or hard disks.
This problem has now been solved. It is now possible to mine BitShares, even though this cryptocurrency is designed a little differently than others such as Ethereums, as we saw above.
Obviously, as with any mining activity, we advise you to find out as much as you can about the cryptocurrency you are going to mine, in this case BitShares, and to ensure that your computer equipment is sufficiently powerful. Good computers suited to this activity would be ASICs, which are, admittedly, fairly expensive.
Reminder of the mining activity
Let’s take a quick look at the concept of mining. To mine a cryptocurrency, you need powerful, high-performance equipment that is at least capable of performing complex calculations. In fact, these calculation steps are compulsory for mining and are called “proof of work”. In practice, if many miners want to solve the same specific pool, the equations will be trickier. The advantage of this system is that it ensures a homogeneous pool and encourages the use of even more efficient equipment.
In return for your mining activity, you will receive something in return, in our case BTS. BitShares miners can be rewarded for their work with 1 BTS every 3 seconds.
bitshares bts
Why and how to use BitShares tokens?
Why use BTS tokens?
So why is the BitShares system so advantageous? The network has several features that may be of interest if you are looking for:
A decentralised system: As we’ve seen, Bitshares’ decentralised network is one of its biggest advantages.
SmartCoins and the ability for users to issue their own assets: the presence of Smartcoins on the network ensures that users can benefit from the positive aspects of the system while avoiding instability. And at BitShares, this goes hand in hand with another option: for users to issue their own assets. Among other things, the issuer can choose the level of control over the asset. From fair crowdfunding and VIP tickets to property rights and fan tokens, these are just a few examples of the range of possibilities offered by BitShares. This is because BitShares issues both BitAssets, which fluctuate little, and BitUSDs or BItEURs, which are anchored in real values.
A trading strategy: Another possible use for you would be as a trader, whether long term or short term. It all depends on your strategy.
How do I use BitShares tokens?
To use BitShares tokens, you need to download the BitShares software available on their official website. You can then create an account and save a backup. In the “deposit/withdraw” tab, you can send or receive BTS. In the ‘exchange’ tab, you can access the page for buying and selling Bitshares tokens. You can also transfer other cryptocurrencies via this platform.
Finally, we recommend that you keep your BitShares in a wallet. You can simply use the official BitShares wallet, which has versions for almost all operating systems: Windows, MacOs, Linux, as well as an application available for Android.
The wallet has an owner key, an active key and a memo key. There are public and private versions of each key.
What’s more, you can use this highly secure wallet anonymously.
Our opinion on BitShares: is it too late to invest?
With a stable and predictable price, the BTS token is a great option. Thanks to its professional, high-performance structure, the BitShares cryptocurrency ranks highly in the Altcoin league table. Combining security and reliability, BitShares stands out in the cryptocurrency field. In fact, it has never encountered a major problem since its creation in 2014.
In our view, it’s still not too late to invest in this token. There are many indicators that the future of BTS will be sweet, even if it is not the most in-demand cryptocurrency these days. In reality, we believe that BitShares would be better suited to an investor who doesn’t want to take a lot of risk, rather than a “risk lover” investor.
However, there are a number of analyses on the subject that need to be taken into account. Wallet Investor, for example, has published its predictions on the subject. The site believes that it is not a good idea to invest in BitShares due to the negative price trend of the cryptocurrency. It is not the most profitable asset and Wallet Investor recommends diversifying its portfolio with other cryptocurrencies. Finally, he adds that the BitShares market is not the easiest for newcomers to get to grips with.
To help you make your decision, we have summarised the main advantages and disadvantages of BitShares for you.
Advantages of investing in BitShares :
If you invest in BTS tokens, you will be able to carry out a very large number of transactions at the same time, instantly.
You will be able to invest in a number of very different assets on the BitShares network, such as SmartCoin or BitUSD, or even commodities.
There is no limit to the amount you can invest or withdraw.
BitShares charges very reasonably for user transactions, compared with other existing networks.
Users of the BitShares platform benefit from a wide range of financial services.
Finally, guaranteed anonymity on the network is an attractive option.
Disadvantages of investing in BitShares :
The ecosystem’s marketing strategy is rather poor and does not reflect the token’s potential. The marketing aspect needs to be reviewed.
We also regret the fact that BitShares does not share a precise action plan with its investors.
There are other, much more popular cryptocurrencies with great potential.
A low return on investment.
Finally, we must never forget the risk of a sudden fall in the price of BTS, or “Black Swann Event”, which is nevertheless minimised in the case of BitShares.
So, is it better to invest in BitShares or not at all? With the above in mind, it should be easier for you to make your choice!
