How to use STEEM and SBD in Bitshares DEX thanks to Blocktrades and RUDEX
Source: Pixabay
The last two weeks were wild crazy, STEEM is going UP and SBD skyrocket. Witnesses initially wanted to dump SBD back to 1:1 USD. But who is willing to dump a 1000% market jump? "Man I bet for STEEM and SBD, let me enjoy the profits" I would say.
Unfortunately, for those of us who have been using DEX like Openledger, Blocktrades and Rudex, it was a deception. Because volatility can not only block Poloniex, the open markets don't like liquidity problems. Then most exchanges put their STEEM nodes on "maintenance" mode (sad face).
How can I cashout my hard earned STEEM and SBD?
The easy way is Blocktrades, you can exchange from your steem wallet to your Bitcoin wallet (and other altcoins as well). Including some still working DEX markets like OPEN.ETH and OPEN.BTC.
If you have some OPEN.STEEM or OPEN.SBD, you can exchange your assets for BTS, then use Blocktrades to exchange your BTS straight into your favorite Bitcoin wallet and a nice list of altcoins.
Withdraw available thanks to RUDEX but be careful!
I have been using OPEN.STEEM and OPEN.SBD a lot recently. But I wanted to give a try to RUDEX since they have RUDEX.STEEM and RUDEX.SBD but Blocktrades does not supports such assets. Hopefully they have their gateway working so you can withdraw straight to your steem wallet but watchout, if you try to move 1 STEEM or less(including fees) they consider your withdraw a donation.
It was hard for me to understand, but they run the business and I accepted the terms by using their assets. Again, you can use RUDEX.STEEM and RUDEX.SBD but be careful. If you want to withdraw, use 2 STEEM or more. That way you are 200% sure that fees will not convert the transfer into a donation.
Holidays NOTE
If you are following cryptos longer than 4 years, you know that Christmas an END YEAR are very profitable for traders if you do the right moves. I'm not a trader so I prefer to focus on creating value through online services. Also, this time is very special for the family and loved beings. What I'll do is to enjoy the time with them and forget about volatility till next year. After all, this is a high risk market. Today we might earn, tomorrow we might loose everything. Family stays!!
Merry Christmas and Happy New Year!
Voted, as promised - for constructiveness. The trick you described is related to the fact that the tokens rudex.steem and rudex.sbd have 0% market fee. Besides, for each input of tokens they pay a commission from their own pocket. And they have to constantly pay a commission for printing / burning tokens, so that the number on the rudex exchange and their account @rudex in the network steem corresponded. In addition, the minimum value is written both when entering and when outputting.
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