Repository
https://github.com/nirvanaitsolutions/swapsteem
Introduction
Swapsteem is a peer to peer exchange for Steem blockchain. We are creating a platform for Steem users to enable P2P trading of STEEM/SBD to different Fiat and Crypto Currencies using secure escrow transactions. This post is regarding the new Instant Swap Feature we have added at Swapsteem to enable trading BTS User Issued Assets for STEEM/SBD securely with other steemians.
What is Insta Swap
At Swapsteem, we have an escrow enabled robust and secure exchange in place for trading STEEM/SBD in multiple markets. Although it is the most secure way to exchange crypto on multiple chains without using pegged coins, it comes with a lengthy process of escrow transactions which can take from 1 min to 1 hour to confirm crypto payments while it may take up to 3 days to resolve in case of Fiat bank transfers.
To resolve this problem, we have partnered with @onepagex which is an instant cryptocurrency exchange application. @onepagex provide a simple HTML widget that can be added to any web page to enable crypto to crypto instant conversion powered by @onepagex.
The fees for conversion has been set to 0.5% of the amount being exchanged.
How to convert STEEM to BTC
- Step 1 - Visit https://swapsteem.com in your browser.
- Navigate to and open the "Insta Swap" menu in top navbar
- Select the Coins you want to exchange
- Enter the Amount you want to exchange and the withdrawal Address where you want to receive coins
- Hit Start Exchange button, You will be provided with an address and an optional memo to deposit the coins you want to exchange. You will need to manually deposit the coins to the address provided. As soon as your payment passes the required number of confirmations on the chain, your withdrawal will be processed.
Whats Next
- Add Refer and Earn Feature
- Add Steem Keychain for Additional Security
- Update the UI for a better experience
- Add More Token markets and pairs
Call to Bug Hunters
Anyone having a steem account can test the Fiat and Crypto pairs on our Demo by creating a new listing or simply buying/selling from existing listings. Please find the link to Demo and tutorials on the process in the links below. Bugs acknowledged by us will be rewarded by utopian and other supporters. We will also give some special perks to our bug hunters for reporting potential vulnerabilities.
Call for Delegation
Swapsteem is an open source project, recognized and supported by @utopian-io. Please consider delegating to @swapsteem to help us with the Development and maintenance of the application. The delegation will be used to upvote the Development and other contributions towards @swapsteem.
The delegators will be eligible to get early access to our beta once launched this week.
You can trade unlimited amounts on the alpha with discounts on trades up to the SP delegated weekly.
Delegators
@diggndeeper.com - 1000 SP
Resources
Series Backlinks
- SwapSteem - BitShares UIA ( User Issued Assets ) market is now live!
- SwapSteem - TRC20 Tokens market is now live!
- Swapsteem - EOS Tokens Market is now live!
- Swapsteem - Steem-Engine Tokens market is now live!
- Swapsteem - Crypto Markets are now live!
- Swapsteem - The Fundition Campaign is now live!
- Swapsteem - Steem account creation is now live!
- How to Post a Trade Listing On Swapsteem
- A 12 Step Guide on How to Buy STEEM/SBD for Fiat on Swapsteem
- A 12 Step Guide on How to Sell STEEM/SBD for Fiat on Swapsteem
Hello, @swapsteem!
Thank you for your contribution to Utopian. It is good to see all the progress being made, and your post includes valuable information about the recent developments. Keep up the good work.
On the content side, I like all the information provided. You gave a succinct analysis of the newly added feature, and I think that your post contains all the necessary information. I also think that users looking to get started with the conversion mechanism will find your post very helpful.
On the presentation side, there were issues of style, and I think that your post would have benefited from another round of proofreading. Regardless, your post is comprehensive, and I enjoyed reading your work.
I look forward to your next contribution.
Your contribution has been evaluated according to Utopian policies and guidelines, as well as a predefined set of questions pertaining to the category.
To view those questions and the relevant answers related to your post, click here.
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[utopian-moderator]
Thank you for your review, @lordneroo! Keep up the good work!
What is the difference of Blocktrades to offer this service.
Posted using Partiko Android
It has lesser fees than blocktrades!
Posted using Partiko Android
What is the real innovation behind the fee?
Not an innovation but more cheaper the more profitable for traders.
I don't understand what this has to do with swap steem. I don't believe this should be on the same site, it will just cause confusion.
This is also a way of swapping steem with other crypto, although using a third party exchange that DOES require deposits to enable instant conversion. This will also provide more visibility to our insta swap partner.
Posted using Partiko Android
Nice. Will check it out
Posted using Partiko Android
Hi @swapsteem!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your post is eligible for our upvote, thanks to our collaboration with @utopian-io!
Feel free to join our @steem-ua Discord server
Hey, @swapsteem!
Thanks for contributing on Utopian.
We’re already looking forward to your next contribution!
Get higher incentives and support Utopian.io!
Simply set @utopian.pay as a 5% (or higher) payout beneficiary on your contribution post (via SteemPlus or Steeditor).
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Vote for Utopian Witness!
🙋Absolutely fantastic to be able to swap crypto currency instantly on @swapsteem and with less fees then blocktrades! These are such exciting times here on this awesome platform and SwapSteem is going to be a big part of that! upped and resteemed for future reference and best of luck moving forward I am sure it will be very successfull!! 👍❤
