bitSilver price is $1.19
The current price of bitSilver (BITSILVER) is approximately $ 1.19.
bitSilver (BITSILVER) is a unique type of cryptocurrency known as a BitAsset – a digital asset tied to the value of real-world commodities. In this case, bitSilver is tied to the value of physical silver. So unlike traditional cryptocurrencies, its value doesn't fluctuate based on market demand but rather the international silver spot price.
bitSilver was developed as part of the BitShares platform, an open-source software that was designed to provide a decentralized exchange. The precise identities of the individual or group who specifically created bitSilver are not publicly available.
bitSilver operates within the BitShares ecosystem. It uses a system called Delegated Proof of Stake (DPoS) to secure its blockchain network. bitSilver coins are created when users of the BitShares platform enter into a contract for difference (CFD). This is an agreement between two parties to exchange the difference in the value of the silver price between when the contract is made and when it's terminated or fulfilled.
bitSilver, as part of the BitShares platform, uses Delegated Proof of Stake (DPoS) for network security. In the DPoS system, community members vote for delegates who will be responsible for validating transactions and maintaining the blockchain. This system promotes decentralization and more power to the stakeholders.
bitSilver's defining aspect is its direct peg to the price of silver. This peg allows users to effectively hold silver in a digital form, which can be easily traded within the BitShares platform. This combination of real-world assets and digitization is part of bitSilver's unique appeal.
As of now, there is approximately 12.5K bitSilver in circulation.
You can purchase bitSilver (BITSILVER) on several cryptocurrency exchanges, but only those currently listed on our website. Please refer to the most updated list of exchanges for accurate information.
To keep your bitSilver safe, store them in a secure wallet that you possess the private keys to. It's best practice to use hardware wallets or other secure forms of wallets to store your bitSilver. Always remember, never share your private keys and be cautious of phishing attempts.
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