OBITS is a cryptocurrency that promises to give holders the chance to profit from wild swings in the digital currency market. Find out how OBITS tokens work today in our review.
What Is OBITS?
OBITS.io is the online home of OBITS tokens. The tokens are hosted on OpenLedger. The goal of the tokens is to allow average users to profit from wild swings in the cryptocurrency market “without a comprehensive background either in trading strategies or blockchain technology.”
Holding OBITS entitles you to become a part owner of the future that lies ahead for OpenLedger. As an OBITS token holder, you’re entitled to a share of profits issued by the organization. When OpenLedger and its properties make money, you make money according to the number of OBITS tokens you own.
The OBITS.io website describes OpenLedger as “one of the world’s first truly Decentralized Autonomous Exchanges”. Because it’s a true DAO, the holdings of the exchange “are always auditable, stable, and user’s balances are always available in full.”
OBITS tokens also claim to be free from market manipulation, extreme volatility, and market instability.
Obviously, OBITS sounds like all of the benefits of a cryptocurrency with none of the downsides. Let’s take a closer look at OBITS to see how these tokens work.
OBITS advertises all of the following features:
Like all DAOs, OpenLedger is a decentralized corporation where no single entity or individual makes binding decisions regarding the organization. No single entity has access to the organization’s funds. Funds are distributed around the world, making them virtually hack-proof.
OpenLedger runs its business with decisions enforced by code. Since key decisions like profit splitting are pre-encoded into the system, it leads to a reliable delivery of promises that can be cross-checked by any individual for maximum organizational security.
The exchange allows retail consumers from around the world to trade their fiat or digital currencies for cryptocurrencies. The exchange then profits by taking a small percentage of each transfer, deposit, withdrawal, or exchange. These profits are then distributed to OBITS token holders.
As an OBITS token holder, you’re entitled to a proportional share of the profits on OpenLedger “and any future projects added”. These profits will be paid in the form of buy-backs.
A monthly payment structure in the form of sharedropping of 90% BTS and 10% OPEN.BTC will replace the buyback structure. All profit sharing is transparent and visible on the blockchain, so you can make sure you’re being given a fair share of profits.
You receive voting rights directly proportional to the number of OBITS tokens you hold.
There are regular “Buybacks” events, where OBITS will be bought back at a market price using 100% of fees generated from the OpenLedger Exchange Network.
How It Works: How Can You Buy OBITS?
The very first OBITS presale launched all the way back in 2015. Today, here’s how you can buy OBITS to participate in the OpenLedger ecosystem:
Step 1) Open an account on OpenLedger or on any other platform or exchange that offers Bitshares 2.0 integration.
Step 2) Make a deposit in BTC, LTC, BTS, NBT, USD, EUR, or CNY, depending on the exchange offering OBITS.
Step 3) Buy OBITS tokens.
Step 4) OBITS tokens can be traded and used as a speculative instrument or as a means of profiting from a long-term cryptocurrency investment.
Step 5) You can sell the tokens for any currency offered, then withdraw your funds according to the exchange’s rules.
At the time of writing, OBITS were available on CCEDK, OpenLedger, and Livecoin.
OBITS is a popular token that lets you share in the success of the OpenLedger portfolio of companies. As these companies engage in OpenLedger activities, OpenLedger earns a profit. As an OBITS token holder, you’re entitled to a portion of that profit. You’re also entitled to a portion of voting representation, based on your share in the company.
Today, you can buy OBITS tokens on CCEDK, OpenLedger, and Livecoin. To learn more about the OBITS ecosystem and the OpenLedger model, visit OBITS.io today.