The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The full English name of BITCNY is bitCNY, and its Chinese name is BitCNY. It is a stable currency. Bitcoin is different from ordinary stablecoins pegged to the US dollar. It is a stablecoin pegged to the yuan. It is an asset on the BitShares platform and can also be transferred and traded through the BitShares wallet. BITCNY currency maintains a 1:1 currency anchorage with the RMB. In essence, it is a contract on the BitShares system, with the function of rapid transmission around the world. Because there are few stablecoins linked to the RMB, many investors want to know more about what kind of currency BITCNY is? Let the editor of the currency circle give a comprehensive introduction to this BITCNY coin.

## What currency is BITCNY?

BitCNY (bitCNY) is a stable currency on the BitShares platform and is linked to the RMB. It can be transferred and traded through the BitShares wallet or through the Biter trading platform.

Bitcoin (BitCNY) is an asset on the BitShares platform and can be transferred and traded through the BitShares wallet. 1BitCNY=1 RMB. BitCNY is called Bit Yuan in Chinese. It is essentially a contract on the BitShares system. The holder of 1BitCNY has the right to obtain BitShares (BTS) worth 1 yuan from the market at any time.

BitCNY has the function of rapid global transmission like Bitcoin, and its value is stable, effectively solving the problem of excessive price fluctuations of Bitcoin. Currently, merchants generally accept digital currency payments through third-party service providers like BitPay. After BitPay receives the customer's Bitcoin, it will sell it on the exchange in real time to ensure that the value of the legal currency remains unchanged. For BitPay, it needs to store funds in multiple exchanges. BitPay's capital costs, operating costs, company profits, etc. all need to be passed on to merchants in the form of handling fees, even if the handling fees are much lower than traditional credit cards. Moreover, if the merchant accepts BitCNY payment, there is no need to convert it into legal currency in real time, because 1BitCNY=1 RMB. If merchants need to exchange BitCNY, they can find some websites for exchange. Exchangers support 1:1 two-way exchange between BitCNY and RMB.

## BITCNY coin prospect analysis

bitCNY is a market-pegged asset (MPA) issued on the Bitshares platform. These assets are called bitassets or smartcoins. Smartcoins always have 100% or more of their value backed by BitShares (BTS) and can be redeemed at any time. Since the exchange rate of BTS to CNY may change, the blockchain protocol handles increasing and decreasing supply accordingly. This allows users to trade and transfer price-stable tokens on the blockchain and trade real-world commodities such as gold and silver in a decentralized manner.

Today’s US dollar price of bitCNY is currently 0.1510 US dollars, which if converted to Bitcoin is 0.00000256
BTC. There are currently 72 coins in circulation. bitCNY price is currently experiencing a -0.4% change, see all cryptocurrencies. In the past 24 hours, $07,670 of Bitcoin was traded on Crypto
Transactions were conducted on Exchanges. Add bitCNY to your favorites and create a free portfolio if you want to get its progress.

The above content is the currency circle editor’s detailed answer to the question of what currency BITCNY is. As an asset on the bitshares platform, BITCNY is also issued based on graphene technology. The characteristic of graphene technology is its fast transmission speed. With the support of this technology, it only takes a few seconds to withdraw money from the exchange to the wallet. Even from exchange to exchange, most transactions can be completed within 1 minute. Not only that, the transmission cost of the token is low, and the token costs less than 1bitcny from the wallet to the exchange. Because the token is issued in small quantities, the token is relatively scarce, and its value is still relatively high.