Hotbit does not provide endorsement for any blockchain assets. All introduction information regarding the assets is originated from third party sources and that emissions and errors might occur in the information provided.
The investments in blockchain assets are highly risky; the user is solely responsible for undertaking the risks of any asset shrinkage or lost. Please do conduct investment activities cautiously based on your own situation.
BitCNY is one type of cryptocurrency in the Bitshares (BTS) system. In comparison with Bitcoin, the transactions of BitCNY can be confirmed within seconds and the price of BitCNY is pegged to the exchange rate of 1BitCNY = 1 CNY. Due to the fact that BitCNY is pledged by the double of its value, its holders are freed from the worries that the third party might breach the agreement. The BitCNY holders can sell their BitCNY on exchanges at any time and redeem the same amount of Bitshares. From this perspective, BitCNY can be regarded as the assets that don’t require third party endorsement, as its value is guaranteed by Bitshares. With a fast transfer speed and steady value, BitCNY is more convenient and practical in its transactions compared with Bitcoin.