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Howto Buy STEEM in BitShares by xeroc

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· @xeroc ·
$275.14
Howto Buy STEEM in BitShares
This guide gives a quick introduction on how to trade STEEM:BTC in
BitShares.

## Choose your wallet

To interact with the BitShares ecosystem, you can either

* [download the official Light Wallet](https://bitshares.org/download)
* or access the network in the browsers via one of our partners:
  * https://openledger.info
  * https://secure.freedomledger.com
  * https://bitshares.org/wallet

## Create an account

In order to use BitShares, you will need to register an account.  All
you need
to provide is

* an account name
* a password

The identicon at the top cn be used to verify your account name to third
parties. It is derived from your acocunt name and gives a second
verification
factor. And this is how you register your account:

![Create a new account](http://docs.bitshares.org/_images/create-account.png)

Note that, in contrast to any other platform you have ever used:

    Creating an account at one of our partners will make your account
    available at all the other partners as well.

Hence, your account name can be seen similar to a mail address in such
that it
is **unique** and every participant in the BitShares network can
interact with
you independent of the actual partner providing the wallet.

## Backup your account

Since you are the only individual that has access to your account and
funds, it is **your responsibility** to make a secure backup of your
registered account.

After creating your account, follow these steps:

1. Click the *Backup required* link in the footer
![Backup required footer](http://i.imgur.com/WMI04fc.png)
2. Click "Create Backup"
3. Click "Download" and store the file safely. Make sure to **remember
   the passphrase** you provided when you created your wallet (above) as
   the downloaded file is encrypted with it.
4. (optionally but recommended) Note the `xxxxxx * SHA1` checksum to
   verify the backup

## Depositing Bitcoin

1. Click on **Account** in the top navigation bar to open up your
   account overview
2. Make sure it states `(Your Account)` below your account name
3. Click **Deposit/Withdraw** to open the corresponding page
4. Enable the *gateway* **CCEDK** which provide the most liquid
   `OPEN.BTC` IOU

   Note: OPEN.BTC is an *I owe you* (IOU) provided by CCEDK. This means
   that they back every `OPEN.BTC` token with 100% reserves!

5. Identify the `OPEN.BTC` row and use the provided Bitcoin address to
   fund your account with BTC
6. After reception and confirmation of your transfer, you will be
   automatically credited with `OPEN.BTC`

![Depositing BTC](http://i.imgur.com/tuO0LFg.png)

## Trading OPEN.BTC for STEEM

1. Clicking the **Trade** link in the top navigation bar will open the
   decentralized exchange of BitShares
2. Since any two assets can be traded, we first need to search for our
   `OPEN.STEEM:OPEN.BTC` pair by clicking **Find Markets**
3. Search for `OPEN.STEEM:OPEN.BTC` to trade `OPEN.STEEM` for `OPEN.BTC`
   (the tokens you have received for depositing `BTC`)
4. Click on the search result below to open the market page

![Identify the OPEN.STEEM:OPEN.BTC market](http://i.imgur.com/DE4USPk.png)

5. Similar to other exchanges, you can now place buy and sell orders at
   your price.

   **Note:** In BitShares, placing an order costs a very small fee
   (sub-$cent) which get a 90% refund on cancellation. This fee can be
   payed in almost any asset including `OPEN.BTC`, `BTS` or `OPEN.STEEM`
   and it is up to you to decide which asset to use to pay for the fee.
   Further percentage fees on filled orders may apply.

![Playing Buy and Sell Orders](http://i.imgur.com/lycrX2e.png)

6. Once your order is matched, the corresponding asset will
   automatically be credited in your account.

## Withdrawing OPEN.STEEM into your STEEM account

1. Open your account's overview page
2. Click on **Deposit/Withdraw**
3. Pick CCEDK
4. Identify `OPEN.STEEM` and click *withdraw*
5. Provide amount and your Steem account name
6. Click *withdraw*

Wait a few seconds and you should receive your tokens in your STEEM
account.
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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vote details (29)
@madmagazine ·
How do you transfer steem from bitshares today? RUDEX?
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@xeroc ·
$0.30
Re: Howto Buy STEEM in BitShares
I found this guide in my github gists and though it might be interesting
to some of you.

Original: https://gist.github.com/xeroc/099201101b397be076d4f9d0bf5e7e33
👍  ,
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