BlockTrades adds fast "Internal Conversions" for Cryptocurrency to BitShares wallet
BlockTrades has added a new feature to our cryptocurrency bridge in the BitShares web wallet called “Internal Conversions” that allows you to quickly convert from one cryptocurrency to another. It takes about 6 seconds: two bitshares blocks at 3 seconds per block (one for when you send the input coin and the second where we send you the output coin).
Note that this is for converting between native coins on the BitShares blockchain such as BTS, OPEN.BTC, OPEN.ETH, OPEN.DASH, OPEN.STEEM, etc. But you can later withdraw any of the OPEN coins to their native blockchains via the Withdrawal page, as these are IOUs backed by the OpenLedger exchange, so it's actually a very quick way to rebalance your crypto portfolio.
Also of interest, the bridge supports exchanging to and from several “USD equivalent” coins: SBD (Steem-backed Dollars), OPEN.USD (Redeemable from OpenLedger), OPEN.USDT (Redeemable from Tether), and BitUSD (Bitshares-backed Dollars). This can be a handy way to hedge your volatility risk.
We designed the GUI for the Internal Conversions to be simpler than even our normal web page. Literally all you do is specify the input coin type, the output coin type, and the amount you want to convert. There is no need for memos or deposit addresses or any of that complexity. Literally the most difficult step is creating your BitShares account and depositing some initial funds for conversions.
I'm guessing someone else more graphically talented from the BitShares community will follow up with a tutorial post on how to setup an account and use the new Internal Conversions feature, so I'll leave that for them and I'll be sure to upvote it! But if you already have a BitShares wallet (https://bitshares.openledger.info), head over to the Deposit/Withdrawal page, change the Transfer Service dropdown from "OpenLedger" to "BlockTrades", select "Bridge" if not already selected, and you will see the "Internal Conversions" user interface at the bottom of the page.
I have created a guide for anyone that wants to see how to use the features outlined in this post.
I have also linked some great videos on how to get started with Bitshares and fund your account.
You can find the guide HERE
Aawesome !
I'll check it out now :)
Link for those that don't know what thsi is about.. Check it out.
https://blocktrades.us/
This is a new interface specifically designed for the BitShares web wallet: https://bitshares.openledger.info , so it's not available on our primary web site. Because this interface is directly integrated into the BitShares web wallet, we can make conversions easier than we can even make possible via our normal web site.
Ah ok, that explains it.... thanks for the link :)
Looks like your accounts are holding quite some % of BitBTC, is it possible for others to convert some OPEN.BTC to BitBTC?
I didn't open up this pairing because the liquidity seemed too low.
That's why we need you more.
Blocktrades for president!
I'm not that good at things like this as my new posts states, wish I could understand all this but it's way over my head.Hopefully one day Ill get there :)
Yeah, I wrote this from a bit of a technical perspective. The gist of it is, we've created a new way to quickly trade between a bunch of different forms of digital money that you can use from the BitShares web wallet, with less hassle than any other way I currently know of.
Its all new to me, I need to revise I think, there's so much to learn :)
It's worth it, Karen. One step at a time, even if that's slowly, you'll have a massive headstart on 99.9% of the world.
I feel left behind as if I've missed something. It was a massive shock when I joined here
Don't compare yourself to Ver, Shrem or Antonopoulos.
Compare yourself to pretty much everyone else alive :)
Cool. Blocktrades has pretty much become my main method for buying Steem and Steem Dollars already. I will need to test this out!
@blocktrades, i have no idea what you're talking about, but it sounds bad ass.
That sounds simple enough for even me to use and so I shall - as soon as I get some money available :)
Thank you!
Upvoted and Resteemed!
So much to learn but many of us are trying, like the emails last week with you said LOL.
Thanks for the update.
How do I get this wallet?
Go here: https://bitshares.openledger.info and create an account.
Ok, just seen I already have one. Who runs this wallet? It is something to do with taskmanager?
No, it's run by OpenLedger. taskmanager has his own UIAs on the BitShares blockchain, though, I believe.