Question 1

What is the current price of OBITS?

Accepted Answer

The current price of OBITS is XRP 0.00279844.

Question 2

What is OBITS?

Accepted Answer

OBITS is a digital token introduced by the OpenLedger Decentralized Exchange (DEX). The token lets holders share in the profits of the OpenLedger platform. It is essentially a kind of digital stock, based on blockchain technology, that represents a significant portion of the profits generated by the parent platform.

Question 3

Who created OBITS?

Accepted Answer

OBITS was launched by Ronny Boesing, founder of OpenLedger. Ronny launched OpenLedger DEX and OBITS with the idea of creating a profitable platform for OBITS token holders. OpenLedger is a Denmark-based decentralized exchange built on top of the BitShares blockchain platform.

Question 4

How does OBITS work?

Accepted Answer

OBITS works as a profit-sharing token on the OpenLedger platform. The profits generated by the OpenLedger exchange and the associated projects are used to buyback OBITS from the market. This is beneficial for the token holders as it theoretically increases the value of the remaining tokens. Users holding OBITS are also allowed to vote on important decisions, including changes to fee structures on the OpenLedger DEX.

Question 5

What Makes OBITS Unique?

Accepted Answer

What differentiates OBITS from other tokens is its profit-sharing mechanism. Rather than operating purely as a means of exchange, OBITS allows holders to share in the success of OpenLedger. By tying the value of the token to the success of the platform, OBITS aims to create a win-win situation for users and the platform.

Question 6

How Much OBITS Is in Circulation?

Accepted Answer

OBITS has a current circulating supply of 14.5M tokens. It's essential to consider the circulating supply of a cryptocurrency. Due to the buyback mechanism of OBITS, the circulating supply may decrease over time, theoretically leading to increased token value.

Question 7

Where Can You Buy OBITS?

Accepted Answer

OBITS can currently be purchased on the Livecoin. It's crucial to conduct adequate research before investing and always make sure to use secure methods for storing your tokens after purchase.

Question 8

How to Keep Your OBITS Safe?

Accepted Answer

Like other cryptocurrencies, it's crucial to keep your OBITS safe. This can be done by securing them in a wallet, often a software or hardware device that stores the private keys necessary to access your tokens. There are several cryptocurrency wallets available that support OBITS. Remember, when using a wallet, it's essential to keep your private keys secure and back up your wallet should anything happen to your device.

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