Why Bittrex Delisting BitShares (BTS)? - BTS Going Down - Is it Still any Good? - My Views
Hello Steemians,
There has been a huge disturbance in crypto space, especially after Bittrex announcing, it's going to delist BitShares and three other cryptocurrencies from their trading platform.
I think we all agree upon one thing that other three cryptos are not a problem or a news for anyone. Instead the BTS being delisted is another story.
BitShares is an amazing cryptocurrency with a lot of potential, and according to me it's being under-valued because of people not realizing it's potentials.
If BTS is getting Delisted because of it has an Decentralized exchange, then why Ethereum is still there on Bittrex? even though ETH has it's own Decentralized exchange by the name of EtherDelta?
What i believe EtherDelta is more of Ethereum and ERC20 token exchange only, you cannot trade any cryptocurrency on it which is not built upon Ethereum network or framework.
On the other hand BTS has far more potential right now, by not only providing other cryptocurrencies but also providing an option to traders with BitUSD. BitUSD is a crypto based or built upon bitshares, which always stay close to USD. Which means just like tether USDT, 1 BitUSD is always equal or very close to 1 USD.
We as traders love a crypto which provides us with an option to move out money away from market volatility. Being decentralized exchange BTS does provide a far better security than any other crypto exchange that we use currently be it Bittrex, Poloniex, BitFinex and many others.
We know from the past experience centralized exchanges are not at all secure with our cryptos. It's almost always at risk, We even have been warned by many people that we should never keep our funds on the exchanges. but with BitShares Exchange it's whole another story, we know since it's completely decentralized, our cryptos are safe there.
We don't know if we can trust USDT as they say for every USDT there's 1 US Dollar backing up. USDT is under lot of controversy currently (you can read more about this on my previous post by clicking here), BitFinex being parent company, huge number of increase in USDT tokens. but with BitUSD it's built in such a way that it's backed by BitShares tokens itself. Meaning number BTS token under BitUSD may increase or decrease based upon BTS value to USD to make BitUSD stay closer to US Dollar.
I Believe BitShares is a much bigger competition to Bittrex than EtherDelta. Also no exchange can afford to loose Ethereum with such a huge volume in trade.
BTS coming down is a good opportunity to buy in my personal opinion, please don't take my words as an investment advice in any manner, i always advise people to do their own research before taking any actions.
Everyone in crypto space is looking forward with options of decentralized exchanges, BTS being one of them gives it a huge potential to run without being traded on other centralized exchanges, The only thing where BTS exchange lacks (i believe) it has very few crypto currencies listed on it at this time. But we just have to wait for other cryptos if and when it has more cryptos in their decentralized exchange, more and more people would rather be interested in trading on BitShares then on Bittrex.
Lastly if you like my content, please upvote also let me know your thoughts on this topic on the comments below.
@bunnychum Just picked up a pretty heavy bag of bitshares because everyone has so much faith in it. I'm gonna HODL til we have moon landing.
@linkdead13 even i have picked some BTS in fall down... i truly believe it's a coin which should be above $0.5 at least... Following You :)
Following you as well. =0)
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According to the Bittrex rules, after delisting any of the market’s cryptocurrency, users have 14 days to withdraw funds from the corresponding wallets. This is the only good news
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