Beshare Token

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Discover Beshare Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Beshare Token?

Beshare Token (BST) is a cryptocurrency with a total supply of 10 billion tokens. It is currently trading at a low price and has a small market capitalization. The token is listed on various exchanges and has a relatively low trading volume. BST is an Ethereum-based token, and its contract details are available on Etherscan. The token's purpose and specific use case are not clearly defined, but it appears to be a security token, representing ownership or rights to an asset or company, tokenized and stored on a blockchain.

How is Beshare Token used?

The Beshare Token (BST) is a cryptocurrency that can be traded and invested in. It is listed on various exchanges, allowing users to buy and sell the token. To purchase BST without fees, one method is to fund an account with Tether (USDT) via peer-to-peer trading. The token's price and market capitalization can be tracked in real-time, providing investors with essential information for making informed decisions.

How do I store Beshare Token?

To store Beshare Token (BST) tokens, you can follow these steps:

  1. Create an ETH Wallet: Create an Ethereum wallet on your Ledger device. This will allow you to store BST tokens as ERC-20 tokens on the Ethereum network.

  2. Connect to MetaMask: Connect your Ledger wallet to MetaMask. This will enable you to interact with smart contracts and manage your BST tokens.

  3. Deposit BST Tokens: Deposit your BST tokens into the Ethereum wallet you created. This will allow you to store and manage your BST tokens securely.

  1. Stake BST Tokens: To earn additional BST tokens, you can stake your tokens in the Governance pool on Oceanpoint. This will enable you to passively accumulate more BST tokens as the protocol grows.

  2. Monitor and Manage: Use MetaMask to monitor and manage your BST tokens, ensuring you have the necessary tokens for staking and other activities.

By following these steps, you can securely store and manage your BST tokens on your Ledger device.

How to buy Beshare Token?

To buy Beshare Token (BST) tokens, you can follow these steps:

  1. Find a Reliable Exchange: Look for a centralized exchange where BST is listed. You can refer to Coinmarketcap or CoinCheckup to find the list of exchanges that support BST.

  2. Set Up a Crypto Wallet: Download and set up a crypto wallet like Trust Wallet, which supports the Ethereum network. Make sure to keep your seed phrase safe and note your wallet address.

  3. Buy ETH as Base Currency: If you don't already have Ethereum (ETH), buy it on a platform like Binance. Then, transfer the ETH to your crypto wallet.

  1. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet. For example, if you use Trust Wallet, you can use 1inch.

  2. Connect Your Wallet: Connect your wallet to the DEX using your wallet address.

  3. Trade ETH for BST: Select ETH as the payment and BST as the coin you want to acquire. If BST doesn't appear, find its smart contract address on Etherscan and paste it into the DEX.

  1. Apply the Swap: Once you've set up the trade, click the Swap button to complete the transaction.

Remember to be cautious of scams and ensure you have the official contract address. Cryptocurrency prices are subject to high market risk and price volatility, so invest responsibly.

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History of Beshare Token

The history of Beshare Token (BST) is not explicitly detailed in the provided sources. However, it is possible to gather some information about the token's current state and characteristics.

Beshare Token is a cryptocurrency that operates on the Ethereum blockchain, with a contract address of ethereum-0x0b4680e848f842b86e4df38d9fa0d9f9419f37ec. The token's current price is $0.00, and it has a total supply of $10.00 billion. The circulating supply is not explicitly stated, but it is known that the token's market capitalization is $0.00.

There is no specific information available about the token's creation, launch date, or significant events in its history. The sources primarily focus on providing real-time data and market metrics, which do not offer insights into the token's past.

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How Beshare Token works

The Beshare Token (BST) is a cryptocurrency designed to operate within the BitShares ecosystem. BitShares is a decentralized financial platform that offers a range of financial services, including market-pegged assets, stablecoins, and lending capabilities.

Market-Pegged Assets and Stablecoins

BitShares allows users to create market-pegged assets (MPAs), which are crypto derivatives that track the price of real-world assets like the US dollar. These MPAs, also known as smart coins, are collateralized by the BitShares core currency (BTS) and are designed to maintain a stable price with reduced volatility. For instance, the bitUSD smart coin tracks the value of the US dollar, ensuring that its price remains stable and predictable.

Collateralization and Smart Contracts

The stability of these MPAs is ensured by the collateralization mechanism. Each MPA has at least 200% of its value backed by BTS, which can be converted to BTS at any time as collateral in a smart-contract-based loan. This collateralization ensures that the MPA's value remains stable and can be relied upon for transactions.

Lending and Borrowing

BitShares also offers lending capabilities, allowing users to loan their BTS holdings with customizable reserve levels. This lending mechanism is secured by smart contracts, which manage the loan process and ensure that the collateral is sufficient to cover the loan.

Network Fees and Membership

BitShares operates on a decentralized network where fees are shared among members. Users can purchase a lifetime membership, which reduces their fees for using the platform. Additionally, there is a referral program that allows members to earn a percentage of the fees paid by those they refer.

Risks and Challenges

While BitShares offers a robust financial platform, it is not immune to risks. One significant risk is the collateral risk of a "black swan event," where the value of BTS drops suddenly, making it difficult to maintain the collateralization of MPAs. This could lead to a loss of confidence in the system and disrupt transactions.

Beshare Token (BST) in the BitShares Ecosystem

The Beshare Token (BST) operates within this BitShares ecosystem, leveraging the platform's financial services and mechanisms. As a token, BST can be used for transactions, lending, and other financial activities within the BitShares network. Its value is influenced by the overall performance of the BitShares platform and the broader cryptocurrency market.

In summary, the Beshare Token (BST) works by utilizing the BitShares platform's financial services, including market-pegged assets, stablecoins, and lending capabilities. It operates within a decentralized network where fees are shared among members and is subject to the risks associated with the BitShares ecosystem.

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Beshare Token's strengths

The Beshare Token (BST) has several strengths that make it an attractive investment opportunity. Firstly, it is backed by a strong community, which is crucial for the long-term success of any cryptocurrency project. This community support can help drive adoption and increase the token's value over time.

Additionally, the token has a robust business and company structure behind it, which is essential for building trust and credibility among investors. This solid foundation can help the token navigate market fluctuations and maintain its value.

Another significant strength of BST is its advisory board, which consists of experienced professionals who provide strategic guidance and support to the project. This expertise can help the token stay competitive and innovative in the rapidly evolving cryptocurrency landscape.

Overall, the combination of community support, a strong business structure, and expert advisory guidance makes BST a robust and promising investment opportunity.

Beshare Token's risks

Beshare Token (BST) is a cryptocurrency that carries several financial risks. These risks are inherent to the cryptocurrency market and can be attributed to various factors:

  1. Market Volatility: Cryptocurrencies are known for their high volatility, which can lead to significant price fluctuations. This volatility can result in substantial losses for investors if the market moves against them.

  2. Lack of Regulation: The cryptocurrency market lacks robust regulatory oversight, which can lead to a lack of consumer and investor protection. This lack of regulation can increase the risk of fraudulent activities and market manipulation.

  3. Speculative Component: A significant part of the volatility in cryptocurrencies can be attributed to speculative trading. This speculative nature can lead to sudden and drastic price changes, making it difficult for investors to make informed decisions.

  1. Risk of Collapse: The collapse of major players in the cryptocurrency market, such as exchanges or stablecoins, can have a ripple effect and lead to a broader market downturn. This is evident from the collapse of FTX, which triggered a sharp sell-off in the broader cryptoasset markets.

  2. Limited Liquidity: Cryptocurrencies often have limited liquidity, which can make it difficult for investors to quickly sell their assets if needed. This limited liquidity can exacerbate price movements and increase the risk of significant losses.

  3. Security Risks: Cryptocurrencies are vulnerable to security risks such as hacking and other cyber threats. If a cryptocurrency's security is compromised, investors can lose their assets.

  1. Dependence on Service Providers: BST, like other cryptocurrencies, relies on various service providers such as custodians, broker-dealers, and pricing providers. If these service providers fail or are compromised, it can have a significant impact on the token's value and stability.

These financial risks highlight the importance of thorough research and caution when investing in cryptocurrencies like BST.

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Did Beshare Token raise funds?

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Beshare Token’s team

  • Beshare Token (BST): The primary founder of Beshare Token is someone named @diamondhands, whose real identity is pseudonymous.

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