Share price based coins on Bitshares

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A new user, nasdaq-wallet has issued assets on the Bitshares blockchain that maintain their price based on the price of stocks of big and famous companies, such as Amazon, Facebook, Ali Baba, Apple, Microsoft and Tesla. Tokens like AMAZONCOM, FACEBOOKCOM etc have been created.

Anyone can create tokens and bind them to a price feed, on the Bitshares blockchain. The user nasdaq-wallet announced their intention to do this on the BitsharesTalk.org website.

Friends,
Trade in the smart asset AMAZONCOM
1 AMAZONCOM – AMAZON.COM, INC by NASDAQ (AMZN) AMAZONCOM is a derivative for the AMAZON.COM, INC share. Feeds are assigned from the Nasdaq exchange.
Feeds on the BTS are published from the Poloniex.com exchange.
BTS quotes from the Bitshares exchange will soon be added, to obtain an average market quotation for all exchanges

This is a wonderful usecase of the Bitshares blockchain, and is a great opportunity for those investors who want to invest some amount in the relatively more stable price of traditional companies especially if they reside outside of the US. It is also a great trading opportunity without having to pay huge commission fees per transaction when trading the stock. The user has set market fee to 0.2% at the moment. Not just that, you have the ability to buy a fraction of a stock which you cannot do when buying stocks in the market.

But…

However, a word of caution. At the moment the price feeds are only being provided by that one user. Once more witnesses start providing the price feeds, these assets might become safer to buy.

Before you invest any amount on money in this, make sure there are at least a few price feeds listed on the asset’s page. You can use CryptoFresh to check this. For example you can check the feeds for AMAZONCOM




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