BTS and BTC both have one very interesting thing in common. They were both the first networks of their kind and started the whole movement in the finance world. Bitcoin was the first cryptocurrency and led to the creation of more decentralized currencies. BitShares was the first DeFi-capable blockchain, which sparked the entire DeFi movement.
Both are path blazers and early movers in their market. But which should you invest in during 2022? Let’s take a look at each to find out which you should buy and the best place to trade BTS to BTC.
What Is Bitcoin?
Bitcoin is the original cryptocurrency and is still by far the most popular in the world. It has relatively few features compared to other cryptocurrencies such as BTS. Its main feature is decentralized transactions, so BTC is mainly used as a store of value and means of transaction in the crypto sphere. Bitcoin is a favorite crypto project with large investors.
Bitcoin uses the Proof-of-Work consensus mechanism. This was the first decentralized consensus algorithm to gain widespread popularity. But, it is now considered dated technology and has a number of drawbacks. First is its lack of scalability. The Bitcoin network can only handle a handful of transactions per second. The second is its energy consumption. Bitcoin mining — the process of securing the Bitcoin network — takes 0.55% of the world’s total energy consumption. That’s a crazy amount, considering Bitcoin only processes 5 transactions per second.
The Bitcoin price decreased to around $20k in 2022, down from over $60k in 2021. However, Bitcoin is not down as much as many of the alternative cryptocurrencies on the market. Here’s an overview of some expert price predictions for Bitcoin in 2022 and beyond.
As you can see, the Bitcoin price is currently very unpredictable. Some analysts forecast a recovery to new peaks within 5 years, while others don’t.
What Is BitShares?
BitShares is a decentralized finance platform that was developed by the charismatic leader of the EOS blockchain. It was one of his first crypto projects designed to trade tokenized assets. Tokenized assets can be anything represented with blockchain tokens — cryptocurrencies, shares, gaming items, or anything else.
The core idea of BitShares is to be a decentralized exchange. Unlike many other types of crypto exchange services, BitShares never takes custody of your private keys. So, your assets are never at risk of attack, fraud, or theft. Since BitShares’ first launch back in 2014, an entire industry called “Decentralized Finance” or DeFi has descended from its ideas.
BitShares uses the Delegated Proof-of-Stake consensus algorithm (similar to the EOS blockchain). This protocol boasts 100,000 transactions per second, significantly more than BTC.
The current BTS price is around $0.009, and it can be traded on any popular exchange, such as Godex. The BTS price has taken a very different path than BTC. It has its big bubble in 2017/18, rising to over $0.9. After falling significantly, it has never recovered anywhere close to this all-time high. BTS has been on a steady downward trajectory since 2021.
Here are some expert price predictions for BTS for the next 5 years. As you can see, the WalletInvestor prediction sees BTS going significantly lower than it is now and doesn’t provide a long-term prediction.
Which One to Choose?
Now that cryptocurrency is down, and the market could be in for a rocky few years ahead, it seems that BTC may be the better bet out of these two tokens. BTS has never recovered the lead it took in the DeFi space and now has so much competition that it’s hard for it to gain market share. Moreover, the founder, Dan Larimer, has long left the project to work on bigger things like the EOS blockchain and his company block.one. BTC remains the best bet in the cryptocurrency market for now.