Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
How to buy BitShares coin
This page is an introductory guide to BitShares that explains everything you need to know about the cryptocurrency. Scroll down to compare the best places to buy it, and follow our step-by-step guide to getting your first coins.
Compare where to buy BitShares, and open an account
You can buy cryptocurrency using an online broker. Brokers are beginner-friendly platforms that you can get started with in just a few minutes. Sign up using one of the links below, or keep reading to learn more about BitShares.
How to buy BitShares online – a step-by-step guide
Step 1. Find an exchange
The easiest place to find cryptocurrency is on a dedicated crypto exchange. These are platforms that let you buy and sell coins at the best rate, and usually let you swap your money between different cryptocurrencies as well. Two of the best places to buy BitShares are:
- Binance: Binance is the largest and most popular cryptocurrency exchange platform. It offers BitShares along with hundreds of other coins and has lots of material to help you get started. Sign up for Binance now >
- Bittrex: Bittrex is another beginner-friendly exchange that prides itself on its wide range of altcoins. You can get started in just a few minutes and start trading your favourite coins. Join Bittrex today >
Step 2. Sign up and fund your account
In order to use an exchange, you have to set up an account and put money into it. To do this you have to supply some contact details, ID, and use a bank transfer or card payment to transfer the money.
Step 3. Purchase
To find your coin, search for its ticker symbol when you’re logged into your exchange account. BitShares goes by the code, BTS, and the search results will display a list of ‘pairs’, such as BTS/BTC. These show you the price of BitShares in different denominations, and you just need to choose the pair that corresponds with how you want to pay for it.
Right now, there might not be the option to get BitShares with a regular, fiat currency (like GBP or USD). Instead, the only option might be to use Bitcoin or Ethereum to pay for it. If that’s the case, then you just need to learn how to buy one of those with your regular currency first and then exchange the new coins for BitShares.
Step 4. (Optional) Get a suitable wallet
When you’ve completed a transaction, your new coins will be added to the wallet section of your exchange account. You can leave them there, or transfer them to a dedicated crypto wallet. The latter route offers a bit less flexibility, because it’s a more convoluted process to sell or trade your coins from a wallet, but more security. Here are a couple of the best wallets available:
- Freewallet: Freewallet is an online wallet that you can sign up to and use through your web browser. The service is completely free to use and easy to get started with. Join Freewallet now >
- Ledger Nano S: The Ledger Nano S is a hardware wallet, which means it stores your coins on a physical device. You have to pay for the device, but then you can access and manage your coins for free from an app on your phone. Get the Ledger Nano S today >
How to trade BitShares – a step-by-step guide
Step 1. Find a broker
Trading a coin refers to the practice of making lots of buy and sell decisions over the course of a day. This form of day trading means you need to find a low-fee broker, so that you don’t have to pay too much of your capital in trading fees.
At the moment, there aren’t any brokers that offer BitShares trading. The only way to buy and sell it quickly is to use an exchange for now. It’s likely that as the coin becomes more popular, platforms like eToro and Plus500 will start to offer it as an asset that can be traded.
Step 2. Create an account and deposit money
To use a broker you need to create an account and fund it. Like with an exchange, this is a simple process and you usually only need to provide a few contact details and a form of ID. There are a lot more funding options available with a broker, however, and you can normally use either a bank transfer, debit/credit card payment, or alternative method like PayPal to transfer money in.
Step 3. Learn how to perform technical analysis
Technical analysis is the act of studying price information to identify trends and then using that knowledge to decide when to buy and sell coins. It’s the foundation of any successful trading strategy and you can learn more by taking our course on short term trading.
Step 4. Decide whether to go long or short
When you trade coins through a broker, you have the option of both buying (going long) and selling (going short) a coin. This decision should be based on the results of your analysis; if it suggests the price is about to rise, then buying is the right option, while the opposite is true if it suggests a fall is imminent.
Step 5. Make the trade
The final step is to go ahead and execute the trade. Search for BTS and choose either the instant buy or sell price that is presented to you. Then enter the details of the trade; how much you want to spend, when you want the order to execute, and process the trade.
Should I invest in BitShares?
It’s a cryptocurrency that might appeal to anyone who likes to speculate on small, less expensive coins that have the potential to increase many times in value. This type of altcoin can be volatile and you have to be willing to accept risk, as well as lots of fluctuations in value.
However, the rewards on offer can be large if you choose the right coin. BitShares has some reasons to be bullish about it, because it’s backed by some big names in the cryptocurrency industry and offers an alternative solution to the real-world problem of inflation.
It’s always a good idea to take time to consider your options before you decide to make an investment. Here is a list of BitShares’ pros and cons to help you come to a decision.
- Owning BTS opens up a wide variety of different decentralised finance options, like the opportunity to borrow and lend crypto
- Backed by well-known names in the crypto space
- You can use BTS to create your own digital assets, linked to the value of real world assets like gold or the US Dollar
Finally, here are three more questions to help you decide whether the coin is for you, and when is the best time to invest in BitShares.
1. Is now a good time to buy BitShares?
The answer to this question depends on the state of the overall cryptocurrency market. For long term investors, it’s best to wait for a time when prices are stable or on a steady upward trend. Periods of volatility normally affect all coins and it can be risky to invest then, as coin values can fluctuate dramatically over a short period of time.
If you want to trade BTS based on technical analysis, then it’s the results of the analysis that should affect when you buy it. Wait until you see trends that signal an opportunity, or use analysis from others to help you. You can find the thoughts of our team of cryptocurrency experts below.
2. What problem does BitShares solve, and what are its investment prospects?
It aims to solve the problem of volatility that makes it difficult for cryptocurrency to offer financial services. By using BTS coins to create digital assets that are pegged to the value of real world assets, it means those assets should be stable enough to use as collateral for borrowing or lending money.
The BitShares exchange itself also has some unique features, most notably its speed and simplicity. It uses these features to differentiate itself from other, similar cryptocurrencies, like Waves. However, there are competitors out there and it’s not easy to predict which of them will be able to attract more users.
The best thing to do is to stick to investing small amounts in any altcoin like this, and then follow the latest developments so that you can react and increase or reduce the size of your stake. Use the latest news links below to get the most up-to-date details on what’s affecting BitShares at the moment.
3. Do you want to hold BitShares for the long term?
There are times when it’s the right move to hold and others where a fast trading strategy is the best approach. The sections below include a quick recap on the most important things to think about for each method.
Considerations for a long term investment strategy
Long term investors should wait for a time when cryptocurrency prices are relatively stable and sign up to an exchange in order to get your coins. Once you’ve made a purchase, think about getting a wallet to store them in.
Considerations for a short term trading strategy
Short term traders should base your buy and sell decisions purely on analysis of the coin’s price. When the indicators suggest an opportunity, find a broker to get your coins and prioritise one with low trading fees.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >