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!
Simply said: AWSOME!!! Thanks for sharing the great news, namaste :)
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 :)
@blocktrades, i have no idea what you're talking about, but it sounds bad ass.
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.
I have the BitShares2-light wallet Version 2.0.160524b on my iMac. Do I need to upgrade it for this?
you can get the latest version here https://bitshares.org/download/
Yes, this is currently only available on the web wallet. I don't believe the light wallet has been updated yet, but hopefully it won't be too long.
Thanks!
Great work! looks really great, shame it is buried away in the interface and not on center stage, but given the usefulness of this feature i'm sure people will learn where to find it.
i can confirm that the light wallet has not been release with the update yet, but i can happily say that @svk has just submitted a worker proposal which is just about approved so with any luck a new release of the light wallet will be out very soon.
Yep, I voted for his worker proposal, I think any Bitshares holder should vote for it.
Agree, i just hit him up on chat i have a few things i would like to see fixed and will log issues via github. he has my vote.
i will also mentioned the worker and the internal conversion feature in my report today too (should be out within 12 hours) . hopefully that should get some more exposure and get him approved and he can start working right away - don't want him to get bored ;)
Sounds great, I'm excited to have him back! Truthfully, I think the wallet is light years ahead of any other crypto wallet out there, but it does still need tweaks to make it fully competitive with some of the centralized exchange interfaces.
This sounds like it will be really convenient. It will be awesome to have this in place as the grow. I novice like me loves to hear of anything designed to create less hassle.