Sup again, peeps?! So in an effort to use Bitshares rather than these shitty-ass centralized exchanges, I want to send my Steem and SBDs to fund my account and trade. There's one issue...I don't see either Steem or SBDs available to send to and fund via Openledger. I can't recall if it's always been this way, or if this is a recent development.
Check it:
Since Steem and SBDs are almost exclusively available on Bittrex and Poloniex (both US-based exchanges) we NEED to have an option to fund our Bitshares accounts with Steem and SBDs. What is going on here?
Can someone please help clear this up for me?
I'm really trying to use Bitshares. I love the community and want to support it, but goddamn it's gotta get better. Better gateways, more liquidity and a simpler interface before ppl srsly use it. I do appreciate that the fees have come down recently; that's a HUGE advantage in the marketplace.
Aight, let's build the future we want,
Ashe
Its all about liquidity isn't it? I'm really excited to see how many developers from fruitless alt-coin projects transition to exchange development and become true market makers. Double edged sword... many will be centralized...
It's def all abt liquidity. Bitshares will pwn if the liquidity comes. Now........how do we make that happen? I think the recently lowering of the platform commission costs will help, but the interface is still shit and it's too confusing how to fund ur BTS account with other coins (Steem, SBDs, Dash, ETH, Bitcoin, etc)
User Interface will be key to the success of exchanges and wallets. Crypto currency was a hard sell to the masses, largely because it was difficult to understand the core concept of a blockchain and public ledger. However, the value and momentum is causing the not-so-savvy to invest... with struggles. Coinbase has the easiest user interface I've seen which allows them to charge a premium on commissions for ease of use. Existing or new exchanges will need to put ease of use at the forefront of their value proposition (on par with security) to gain new users and market share.
Funding an OpenLedger account as of a couple weeks ago worked using Steem. Saw something in the past few days: someone said OpenLedger was suspending Steem usage on the site (funding, trading, etc...). Not sure the reason, could be technical glitch.
However, you should run a check on OpenLedger anyway, to test their withdrawal fees. Even when Steem worked, it sure seemed via our testing they were charging massive withdrawal fees of like 7-30% depending on how much Steem you were removing. Egregious.
Anyway, even if OpenLedger opens back up to Steem usage, we HIGHLY recommend testing it with small amounts to figure out the ACTUAL fees involved.
Other than that, we're with you: we'd love to be using OpenLedger, but just haven't found a clean gateway in AND OUT of the OpenLedger system. Maybe that's why they are working on it, as we've been posting this withdrawal fee question/info to anyone on Steemit who seems like they have knowledge of OpenLedger's DEX.
Wish you best of luck, and thanks for posting your experience as we're finding it informationally useful.
A few more things you should know:
#1 Happened Before...
https://steemit.com/steem/@blocktrades/steem-deposits-withdrawals-re-enabled-on-openledger-for-decentralized-trading
That was a year ago! So perhaps they re-enable it again this time too?
#2 Steem at $8
Keep in mind, Steem went "offline" on OpenLedger right at Steem's peak price. So could indicate foul play, or could indicate high steem activity (OpenLedger being a cousin or brother to Steemit) causes OpenLedger to break a little bit. Not sure.
#3 Bitcoin can be problematic, but luckily there's alternatives...
Check out this poor guy's story!
https://steemit.com/bitcoin/@williamtangofox/a-broken-link-in-the-chain-cashing-out-my-experience
I’ve been on Openledger about a week and as far as I can tell I have -yet- to be able to ship SBD to their gateway. Guess word is when it hit peak they shut it down? Pretty big bummer as I was also getting excited about using it as my primary exchange.
Its very frustrating to have a wallet that supports the community but still doesn't accept (since its closed) sbd or steem .
They had opened the gateway for some days even though it was officially closed. Now Its still closed and no one knows when this update will occur.
it's crazy. What is going on here? We need more Gateways on Bitshares.
Maybe it's just the best minds are working on EOS. It'd be amazing if Bitshares get absorbed into EOS. That would be monstrous. Almost feel sorry for Cobinhood.
It will be.
Did u try blocktrades.us? Thats a really easy way to send sbd from steemit to bitshares.
J
I didn't see that they accepted Steem, but i'll def take a closer look, thank you :)
Ive tried it recently with sbd and transformed to bts in bitshares. Worked very good and i was surprised how fast.
J
I hope they add more coins on Bts , I hate bittrex . Btw Steem transactions were fast , i think it could become a could to transfer between exchanges with fast transfer a. Is transferring Steem free or there any charges ?
Steem is free to send, but the gateway may charge you to fund your BTS acct w/ Steem or SBDs
I've used the RUDEX gateway instead, worked fine and without fees.
cool, do you have instructions on how to add a gateway?
The gateway should appear on deposit or withdrawal section in the official wallet. You only have to add the trading pair on to the top right corner "Find Market" type RUDEX and check ADD
I tried Rudex and it worked! But it is way lower return than blocktrades or open.sbd .
you always share Best and informative things with us keep sharing thank you @ashe-oro
wow awesome information thank you for giving us information!i think i should follow you because i will get usefull information from you!thanks ashe-oro
you are very welcome, thank you for reading and hanging out @addys
Thanks for sharing this useful tutorial
ur welcome. Are you a bot?
No, I am not bot man...
Minimum how much sbd can we send?