I've been looking into bitshares and am relatively new to crypto, but am a software dev from another field. I already have a hardware wallet so sending from there to the bitcoin/litecoin, etc address seems relatively obvious, but what do you do when you want to convert bitcoin to bitshares or bitshares to OpenLedger.EOS?
I haven't seen anything that can assure me that my assumptions would be mistake free. Hence I'm hesitant to use this software.
Wish there was a user manual that explains this. Ironically I already understand the nature of decentralization and distributed ledgers as I have finished reading Mastering Bitcoin by Andreas Antonopoulos. I think at this point the only thing holding back bitshares is the fact that documentation is lacking. The scalability issue is already solved with Graphene and DPoS so I would hope this last step is finally taken. So when people figure out next year that bitcoin still hasn't scaled and it ratchets up to 50K and everyone is complaining that they can't move their funds without a $100 transaction fee, this alternative can start to take off. Thanks...
https://steemit.com/bitshares/@billbutler/buy-bts-for-the-first-time
send your Bitcoin/Litecoin to a newly created wallet at https://wallet.bitshares.org
Then buy Bitshares on the exchange built into: https://wallet.bitshares.org
Both of these can be accessed from the menu at the right top corner.
when you send BTC to your wallet in bitshares using the blocktrades bridge it automatically buys BTS with your BTC - what is the benefit of your method above cheers ?
You can set a low buy order to receive more Bitshares. That is if it executes before Bitshares rises in value vs. Bitcoin. Using the blocktrades must make a market buy order at the current sell price which might be much higher than placing a buy order right above highest current buy order.
ok that makese perfect sense ! so to send BTC but buy BTS later do you choose Gateway - OpenLedger instead of Blocktrades ?
That is correct.