Creative Fee Management: How Skycoin and NESS Holders Can Keep BitShares Transactions Rolling
Are transaction fees holding you back on the BitShares network? A creative and efficient solution has been making waves in the crypto community, and it involves Skycoin (SKY), NESS, and their innovative time-based tokens: SCH (Skycoin Hours) and NCH (NESS Coin Hours). This strategy, recently highlighted in the XBTS Telegram group, offers a practical way to manage your fees and keep trading on BitShares smooth and cost-effective.
The Challenge of BTS Fees
BitShares (BTS) powers the transactions on the network, and like any blockchain, fees are necessary to execute trades, transfers, and other operations. As the network grows, managing a steady supply of BTS to cover these fees is crucial for active traders and enthusiasts.
The Clever Solution: SCH and NCH
For holders of Skycoin (SKY) or NESS, there’s an ingenious way to generate BTS without constantly buying it:
Generate SCH (Skycoin Hours) and NCH (NESS Coin Hours) by holding SKY or NESS in their official wallets.
- Skycoin Wallet Download: Download Here.
Sell SCH or NCH for BTS on the XBTS decentralized exchange.
- SCH/BTS Market: Trade SCH/BTS on XBTS.
Use the BTS you earn to pay transaction fees on the BitShares network.
Step-by-Step Guide
Hold SKY or NESS in their official wallets to accumulate SCH or NCH automatically.
- The longer you hold, the more you earn — it’s like a passive reward system!
Send your SCH or NCH to XBTS using the wallet’s “Advanced Send” feature. This ensures your tokens arrive safely and are ready for trading.
Sell SCH/NCH for BTS on XBTS.
- This helps you secure BTS for your trading fees without dipping into your main funds. Plus, you contribute to the liquidity of the exchange by filling order books.
Pay your transaction fees with the BTS you’ve earned and keep your trading journey on BitShares seamless.
Why This Matters
- Cost-Efficient: You’re using a passive resource to manage your fees — no need for frequent BTS purchases.
- Improves Liquidity: By selling SCH/NCH, you help reduce spreads and improve trading conditions on XBTS.
- Innovative: This method highlights the power of cross-community collaboration between BitShares, Skycoin, and NESS.
Strategic Tip
The advice from the community? Hold onto your SKY or NESS during bear markets. Instead, sell the SCH or NCH you generate. This way, you keep your primary assets intact while making the most of your rewards.
Join the Community
Connect with fellow traders and enthusiasts for tips and support:
Ready to Maximize Your BitShares Experience?
For a detailed guide on navigating BitShares, fees, and trading, check out the BitShares User Manual. This comprehensive resource will help you stay ahead in the decentralized trading game.
Stay smart, stay efficient, and happy trading on XBTS!