South Korean cryptocurrency exchange Bithumb announced on Monday the launch of its new smart token, BTCS. The platform now has seven smart tokens, which are ETHS, XRPS, LTCS, BCHS, BSVS, COMPS, and BTCS.
According to Bithumb, basic characteristics of the smart tokens are the following:
- A smart token can be purchased by just about anyone. This can be done by buying it, based on its current value. Interestingly, the added benefit of a smart token over other kinds of tokens is that owners are hedging against where you foresee the price will go
- Smart tokens control their own prices which are tied to the actual token worth they carry
Bithumb also reported:
“Bithumb Global smart tokens are relatively inexpensive to hold. Other than the management fees, which are charged daily at 16:00 Seoul time and deducted from the Smart Token net value, there is absolutely no other cost associated with smart tokens. While traditional ETFs offer low expense ratios and lower broker commissions than buying the stocks individually, smart tokens will turn out to be more inexpensive than ETFs.”
Bithumb is a digital asset exchange that was launched to meet the “diverse needs” of users from around the world. The platform uses deep resources and technology to provide a range of services, including digital asset exchange, digital asset issuance, blockchain project incubation, and decentralized financing.