BitShares - User's Manual
.
BitShares - User's Manual
-your all-in-one resource for
navigating the BitShares blockchain.
This guide is designed to provide clear, practical information about using BitShares for trading, staking, and managing digital assets.
Table of Contents:
1. What is Bitshares?
2. Why Use Bitshares?
3. How to Create a Bitshares account
4. Bitshares Community’s
5. Assets on Bitshares
6. Trading on Bitshares
7. Staking on Bitshares
8. Claiming Free Airdrops
9. Bitshares Tools and Resources
10. Security Best Practices?
11. FAQs and Troubleshooting?
1. What is BitShares?
.
BitShares is a decentralized, blockchain-based platform designed to facilitate secure and fast trading of digital assets.
The blockchain supports all digital tokens including popular cryptocurrencies, fiat-pegged tokens, permissionless tokens, liquidity pool tokens and custom asset creation, Bitshares also has decentralized trading, and advanced financial tools, all while maintaining low fees and fast transactions.
[Read more here 👇]
What is BitShares - A decentralized blockchain with endless possibilities
@freehiveblog/what-is-bitshares-a-decentralized-blockchain-with-endless-possibilities
Why Use BitShares?
.
BitShares is a trailblazer in the world of blockchain technology, offering an unparalleled combination of speed, security, and flexibility. It is a decentralized platform designed to meet the needs of traders, investors, entrepreneurs, and everyday users. Here's why BitShares stands out:
- True Decentralization: Operate in a trustless environment without central authority interference.
- Low Fees: Transactions cost mere fractions of a cent, making it one of the most cost-effective platforms available.
- Blazing Fast Speeds: Transactions are confirmed in as little as 3 seconds.
- Custom Asset Creation: Easily create and trade your own digital assets.
- Cross-Chain Compatibility: Trade assets from other blockchains like BTC, ETH, and more.
- Decentralized Exchange (DEX): Keep your funds in your control with the built-in BitShares DEX.
For a more comprehensive breakdown of what makes BitShares so exceptional,
[Read our in-depth article 👇]
Why Use BitShares?
@freehiveblog/why-use-bitshares
3. How to Create a BitShares account?
.
Your first step into the BitShares ecosystem is creating an account. Regardless of the front end you choose, all accounts operate on the same blockchain, that means you can create on one, and if you like, use on another, same username, same password.
Front End Guides for Creating an Account:
How to Create an XBTS Account
@freehiveblog/how-to-create-an-xbts-account
..............................................How to Create a BitShares Account Using the Core Wallet
@freehiveblog/how-to-create-a-bitshares-account
..............................................How to Create an ioBanker Account
@freehiveblog/how-to-create-an-iobanker-account
4. Bitshares Community’s
.
The strength of any decentralized platform lies in its community, and Bitshares boasts a vibrant, knowledgeable, and helpful network of enthusiasts, developers, and traders. Whether you're looking for technical support, market insights, or opportunities like airdrops, these communities are where you can connect and grow.
**Top Recommended Community’s **
Here’s the updated list with brief descriptions for each community:
1 - XBTS Cross-Chain DEX
A dynamic and innovative platform for cross-chain trading within the BitShares ecosystem, XBTS offers an efficient decentralized exchange that is quickly gaining popularity. Connect, trade, and explore the seamless integration of different blockchain assets.
Join now: t.me/xbtsio
2 - Bitshares Traders
For those focused on price speculation and trading, this is the go-to BitShares community. Join a group of active traders discussing market trends, price predictions, and trading strategies.
Join now: t.me/Bitshares_Traders
3 - Decentralized Bitshares Development
A collaborative space for developers and enthusiasts interested in the future of BitShares. This group focuses on open-source development, innovation, and decentralized applications (DApps) on the BitShares blockchain.
Join now: t.me/BTSDEXDEV
4 - Decentraliz3 Airdrops
This community offers exclusive opportunities such as free airdrops, expert advice, and a network of like-minded individuals. It’s the best place for anyone looking to maximize their BitShares experience with free assets.
Join now: t.me/decentraliz3
5 - Bitshares Scam Fighters
A vital community dedicated to keeping the BitShares ecosystem safe from scams. This group provides real-time alerts, resources, and support to protect users from malicious actors and fraudulent schemes.
Join now: t.me/BitsharesScams
- BitShares Reddit
- The BitShares subreddit is where you can find in-depth discussions, project updates, and user experiences.
- Visit now: reddit.com/r/bitshares
.
- BitShares Discord Server
- An active community for both developers and users, the Discord server is a hub for real-time conversations.
- Join now: discord.gg/bitshares
Why Join the BitShares Community’s ?
.
- Expert Guidance: Learn from experienced members about trading, staking, and blockchain features.
- Networking Opportunities: Connect with traders, developers, and enthusiasts from around the globe.
- Airdrops and Rewards: Stay updated on the latest promotional events and airdrops.
- Real-Time Support: Get immediate help with any issues or questions.
Stay connected and make the most of your BitShares journey!
5. Assets on BitShares
BitShares supports a wide range of assets, including popular cryptocurrencies, fiat-pegged tokens, permissionless tokens, user-created assets and liquidity pool tokens.
Examples of Popular Assets
- XBTSX.BTC (Bitcoin Pegged)
https://ex.xbts.io/asset/XBTSX.BTC/ - XBTSX.ETH (Ethereum Pegged)
https://ex.xbts.io/asset/XBTSX.ETH/ - XBTSX.USD (USD Pegged Stablecoin)
https://ex.xbts.io/asset/XBTSX.USD/ - DECENTRALIZED (Permissionless + fixed maximum supply)
https://ex.xbts.io/asset/DECENTRALIZED/ - VIRTUAL (Permissionless + fixed maximum supply)
https://ex.xbts.io/asset/VIRTUAL/ - BULLION (Permissionless + fixed maximum supply)
https://ex.xbts.io/asset/BULLION/
For a full directory of assets:
https://ex.xbts.io/explorer/assets
6. Trading on BitShares
- Understanding Trading Pairs
- How to Exploit Empty Trading Pairs
- Advanced Trading Strategies
6.1 Understanding Trading Pairs
Trading pairs are at the heart of decentralized trading.
A pair like XBTS.BTC/BULLION represents how much of one asset (XBTSX.BTC) is worth in terms of another (BULLION).
For an in-depth guide:
Understanding Trading Pairs on BitShares (coming soon)
6.2 How to Exploit Empty Trading Pairs
Empty markets provide opportunities for traders to set their own prices, but they also carry risks.
Learn more in this strategy guide:
How to Exploit Empty Trading Pairs for Insane Crypto Profits *
(https://hive.blog/bitshares/@freehiveblog/how-to-exploit-empty-trading-pairs-for-insane-crypto-profits)*
6.3 Advanced Trading Strategies
Leverage advanced tools and techniques to maximize your profitability on BitShares.
Coming Soon!
7. Staking on BitShares
Boost your earnings by participating in staking programs. Programs like SmartHolder Staking allow users to earn passive income from trading fees.
Start staking now:
SmartHolder Staking (https://app.xbts.io/#/smartholder)
8. Claiming Free Airdrops
Take advantage of free crypto rewards through BitShares’ various airdrop programs.
Current Airdrop Opportunities
BULLION
@freehiveblog/3wdrky-how-to-get-free-bullion-tokens
CURRENCY
VISIT: https://t.me/decentraliz3
BTS
VISIT: https://t.me/xbtsio
TYPE IN COMMENTS:
givememoney:youraccountnamehere
There's also👇
- XBTS SmartHolder Rewards: Earn BTC, STH, DOGE, and more.
- Stay tuned for updates!
9. BitShares Tools and Resources
Maximize your experience with these essential tools:
- Wallets: View any wallet on chain
https://ex.xbts.io/account/youraccountnamehere - Explorer: View blockchain data at https://ex.xbts.io/explorer/blocks
For more tools, check out:
Coming Soon!
10. Security Best Practices
Protect Your Private Keys
Your private key is your access to your funds. Never share it with anyone.
Backup Your Wallet
Ensure you have a secure backup of your wallet and recovery phrase.
Use Strong Passwords
Choose a complex password and store it securely.
11. FAQs and Troubleshooting
Q: Can I use multiple front ends with the same account?
A: Yes, all front ends access the same blockchain, so your account works across all of them.
Q: What happens if I lose my private key?
A: Unfortunately, no one can recover your funds. Always back up your wallet.
For more troubleshooting tips:
Coming Soon!
The BitShares - User's Manual is your go-to resource for mastering the BitShares blockchain. Bookmark this page and check back for updates as we expand with more guides and insights to help you navigate the world of decentralized trading.