BlockTrades My First Trade
Welcome Steemit Friends, today I used Blocktrades to make my first trade.
I had never done it before and so it was a bit of a nervous transaction.
I signed up for Blocktrades at https://blocktrades.us
I had to verify my email address
I was taken to this screen:
Image: @jeff-kubitz
I put in the amount I wanted to send 56.841 Steem Dollars in the Send Box
I pressed the |Get New Deposit Address| Button
I went to my Steemit Wallet put the account blocktrades and the long number in the memo box and the amount and sent it to blocktrades
I took the deposit address from a poloniex account and put the deposit address in the receiving address.
It says the transaction is completed, we find that in the Profile Section of our Account under Transactions (on the right) Completed: voila!
Image: @jeff-kubitz
It cost 9 SBD to do this because of the Bitcoin send fee. Litecoin costs less but Bitcoin is skyrocketing and Litecoin...stagnant
All went well, all went good, and it was easy and great.
Upvote and follow please
Hmmm this was interesting.... i actually didnt know this
Thanks @fem-of-war sometimes, like when the cryptomarket collapses it is nice to have back-up plans
Very very true!
This is very helpful
Thanks @honeywish
pretty cool huh?
are you aware that if you
select SELL
on your wallet dropdown menu for SteemDollars.
It will take you directly to BlockTrades?
Saves a step...
yes, but I had to sign up or it did not work. So, since I needed to sign up and I had some SBD...I DID IT! @everittdmickey ;-)
Odd that...I've never signed up for BlockTrades.
I've been using it for months.
I have a trade pending right now actually.
Coinbase...
Nice outline of the process. Thanks for posting
I didn't think signing up to block trades was a requirement?
But I don't have a poloniex account either....so your process is not really for me.
BTW GOOD NEWS ....at steemfest yesterday a new app by steemit was announced... iphone & android versions coming.....
The main focus appears to be EASY TO USE - which is what I need!
It's easy yes
Excellent.
My other "wish-list" for the steem wallet would be "security"
What I mean by that is hiding & protecting the keys for me / new crypto user types.
I think that latest malware that swaps addresses in the clipboard is ridiculous, security should not be able to be compromised by such stupid / simple / smart? "trick's ".
Well not if crypto is going to take off in the main stream market place. IMHO
Its stuff like that that could / might be the downfall of BTC.
their focus is on long 'keys' etc but they forgot the basics.
ie you can deadlock your doors & windows etc, but a key under mat or broken glass pane can bypass them.
If steemit can secure the steem coins in a 'usable' / user friendly way they will have an upper edge / valueadd that puts them above every other coin.
Yet another "sales / marketing tool" in a crowded ICO marketplace.
Everyone is crypto knows @fred777bear that steemit and the way they use the steem wallet is very gutsy - a way to make the perfect cryptocurrency. This is a different argument you present but think of it like this - Everyone can look at the amount people have in their wallets. So, in theory a hacker can see that the account holds this much - but why has none of it been taken?
Steemit is the experimental lure where everything is upfront and so far, no one has really been able to hack steem. Steemit just held a hackathon. You know, some people have millions of dollars in their account in plain view of anyone that wants to look at it?
Someday, somebody will realize this and when they do steem will go to the moon! How high will it go?
Think about it. When I started, steem was worth about 15 cents USD. It has gone up to $3.50 now it is down. There were some problems but Steem itself has integrity as a cryptocurrency or as I like to say for tax purposes a secure internet encrypted transaction token.
On poloniex and maybe other exchanges too, the steem wallet was comprised, hacked. It was fixed three times with no losses without a hardfork creating a new steem. A lot of cryptocurrencies have belly upped and died from such a thing. Ethereum has Ethereum Classic. Steem has graphene and a great group of developers
I agree.
And you are correct, the "bank balance" carrots dangle in the breeze to tempt anyone of such persuasions. Which is a very interesting "hide in plain sight" concept.
I doubt that the key part will or can be broken, like attacking a lock on a safe really. The hack will be a "tunnel" under floor or via an A/C duct or something. eg via the clipboard malware. these are the 'threats' that need to be addressed IMHO. once they are secure, then 9 billion can safely move there "money" to steem and have it in a 'glass box' for all to see. or at least the part they are not putting on the BTC roulette wheel!
9 SBD... Thats too much
Bitcoin is expensive, other coins aren't