New DAPP: Yesbit lets you use crypto to short and long stocks and commodities

[Yesbit-Richard]

Yesbit uses Meta Mask to connect to the Ethereum Blockchain. The platform allows you to use cryptocurrency as a vehicle to short or long Stocks, Commodities, Indices, FX, & Cryptocurrency.

However, instead of buying these financial assets, users are purchasing a short or long position in an Ethereum Smart Contract, which will monitor the value of the underlying asset.
 

So, Yesbit gives you the same exposure to stocks as if you were trading on a centralized exchange. Except now, you don't have to submit any sensitive personal or financial information.

Check out our medium page to learn more: https://medium.com/@Yesbit/introducing-yesbit-631bee9b5553

Head over to Yesbit.pro to try the DApp now!!

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[rolandD]

This idea is cool, it's a creative work around to decentralizing, centralized systems and institutions. Before, if we wanted to partake in investing and market speculation, we had to do it their way and give out our data, and that came back to bite us. This product is so interesting because its found a way to still expose investors to these centralized assets, but in a way that doesn't force you to give these companies your personal info, and thus embodying the fundamental value of decentralization.

[cryptoOTC]

So I can use crypto to buy stocks? Interesting idea. Its also just refreshing to see DApp's come into the ecosystem that actually provide some sort of value or service. Don't get me wrong, I like digital kitties as much as everyone else here, but I don't think the market as a whole feels the same, and its that demographic that we need to join the bandwagon.