Nubits - Nubits.com

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What is Nubits?

NuBits are digital tokens that are designed to be worth $1.00 US through various supply and trading adjustments. They could become worth less or more than $1.00 US in the event of a large demand decrease or increase, just like all digital currencies and assets that are not backed by real-world assets. When you purchase 1.00 NBT you are not purchasing a US dollar. You are purchasing a digital token that the Nu network will attempt to keep at $1.00 US as long as possible.

 

There are many significant advantages depending on how NuBits are used.

Buying – No complex point-of-sale math (paying 0.003287198 BTC for a $1.50 US cup of coffee is not as intuitive as 1.50 NBT for example). No taxable capital gains or losses to be tracked on purchases if NuBits are purchased and used at $1.00 US.

Selling – No vendor fees, no customer chargebacks, and no cost to transfer received funds to another location. Advertising acceptance of digital currency at a place of business is a way to appeal to technologically-literate demographics like Millennials.

Transferring & Remittances – Nearly instantaneous global money transfer that can be completed cheaper than any legacy financial channel. Traditional remittance companies like Western Union could eventually become obsolete.

Saving – No documentation requirements, no geographic limitations, and no cost to download a NuBits wallet. These are all limitations on access to traditional banking services for the 50% of adults worldwide who have no access to formal banking institutions.

Trading – Traders can purchase NuBits as a stable hedge rather than liquidating their holdings to fiat money. These NuBits can then quickly and easily be transferred off exchanges into private wallets. NuBits makes trading digital currencies easier.

 

How are NuBits created?

There are two ways NuBits are created.

First, when individuals who possess NuShares reach a consensus to grant NuBits to a custodian. A custodian is a person/entity (or persons/entities if multisignature transactions are used) that pledges to use the NuBits in a particular way, such as raising funds for dividend distributions or funding development. Voting occurs among all NuShareholders, and if a custodial grant is successful the NuBits are transferred to a specified address.

Second, when a NuBits user chooses to “park” their NuBits for a set duration in exchange for an interest rate offered by NuShareholders. At the conclusion of the parking period, new NuBits are generated to pay out the interest owed.

For more information Click HERE.

To download its wallet click HERE