EasyDex Bitcoin Gateway Launched!

in easydex •  last year 

Greetings EasyDexers! Today we are happy to announce that the EasyDex Bitcoin gateway has been completed! Our Bitcoin gateway has some exciting features that will change the way you look at gateway assets on the Bitshares platform. For one, I believe we are the first Bitcoin gateway on the platform that doesn't have a (high) set withdrawal fee. Our original plan was to allow users to set their own withdrawal fee completely in Satoshis. However, the Bitcoin software doesn't allow us to set the actual miner fee amount, but instead we have to set the fee per byte. Since we have no way of knowing how many inputs there will be as that depends on previous deposits we decided to estimate a low amount of inputs. So, the minimum miner fee is 3000 Satoshis which is much lower than any exchange, decentralized or centralized, that I know about by far and should be more than sufficient to ensure that your withdrawal arrives in your wallet in a timely fashion. If time is of the essence you can always set a higher miner fee to make double sure that your withdrawal gets their quickly. Additionally, we have both a Trezor and a Ledger Nano hardware wallets to ensure that deposited funds stay safe for all applicable crypto gateways. We will keep only enough in the main wallet to cover any withdrawals and will keep the majority on the hardware wallets.

Speaking of timeliness, another feature that sets our Bitcoin gateway apart is that we send the transaction right away. So, the moment you send the withdrawal you should see the transaction pending in your wallet. We're still working on a way to deliver the tx id back to the user after they send it but sending it right away allows the user to see the transaction instantly and can track the confirmations from there.



So, not only does our BTC gateway have some of the lowest withdrawal fees in the industry and no deposit fee but half of the 0.2% market fee will be dropped on Portfolio Builder token (EASYDEX.PB on the dex) holders. These sharedrops will begin as soon as there is enough collected to distribute to all the token holders. This is also true of the soon-to-be-released EASYDEX.STEEM and EASYDEX.SBD as well as every other crypto gateway we run. So, stay tuned for those being announced in the coming days. If you want to get your hands on some of these tokens we recommend to join the token campaign by sending (minimum 10) BTS to the account easydex-pool. Each day at 17:00 UTC the current daily allotment of tokens is divided among the contributors to the pool that day based on the amount of their contribution. More details on that here

Finally, it is time for the fiat transparency report. I have been lagging a little bit on doing this because we received several deposits in a row that didn't have the BTS username in the memo (reference, note) field. So, it took us a while to track down who sent those deposits. We have still been unable to find one of them but we didn't want to put this off any further. However, please put your BTS username in the memo field! If you put nothing else make sure to put that or we won't know whose account to credit it to and it will delay your funds being credited. Additionally, we have implemented the easydex-fiat account to facilitate withdrawals. Not only does this make it easier to find withdrawals that need processing but also allows us to have a sort-of sandbox for fiat-backed tokens in case something happens with the bank transfer and we have to credit the tokens back to your account. Any funds held in the easydex-fiat account should be considered not in circulation. If you would like to make a fiat withdrawal you must first verify your account at https://easydex.net/verification/. Once your account has been verified, simply transfer the amount of fiat-backed tokens you would like to withdraw to the easydex-fiat account and we will do the rest. We will send you a message on Bitshares and/or an email when your withdrawal has been processed. All of that being said, there is currently 671 total EASYDEX.EU tokens issued. Subtract the 10.22 held in the easydex-fiat account and that leaves a total of 660.78 EASYDEX.EU tokens in circulation backed by 850.80 Euros in the bank account. There are currrently 2456 total EASYDEX.US tokens issued minus 11.90 held in the easydex-fiat account leaving 2444.10 EASYDEX.US in circulation backed by $2493.77 USD in the bank account.


I covered everything I can think of but if you have further questions or comments feel free to join us on discord at https://discord.gg/BfZg9JY, on telegram at https://t.me/easydex or email us at [email protected] Also, don't forget to join us for the EasyDex Podcast hosted by @sirlunchthehost on the EasyDex discord server Fridays at 4:00 pm EST. See you there!

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  ·  last year (edited)

Excellent, Excellent, and Excellent...!!!
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Awesome as always easydex team!

Is easydex and new bitshares gateway?
It looks and sounds awesome somewhere i red thay you can deposit/withdraw your bitshares founds with easydex.
We need something like this on the Bitshares Dex i think with easydex it is going in the right direction.
Good luck in the future :)

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We have built a UI for the Bitshares platform at https://exchange.easydex.net most people really like. We provide password recovery option for accounts created through us and will be adding a way to use this feature for existing accounts too. We also run fiat bridges and this post announced our first crypto gateway.

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Do you have a video on youtube on how to buy bitshares with credit/debit card?

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Right now I don't think there is a way to buy bitshares with a credit/debit card. We are working on finding a payment processor for that but right now can only accept fiat via bank transfer.

Does it use segwit? Also any plans to adopt the LN?

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Right now it doesn't use segwit. We do have plans on setting up an LN node but haven't done so yet.

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Segwit would make fees cheaper to use so i recommend you make that one of your priorities.

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It is but we're still over 10x cheaper than any other gateway on BTS and any centralized exchange I know about and we've got our dev team maxed out at the moment. We will get to it as soon as we don't have as many things on our plate.

Do you have any more information on the portfolio builder token? That sounded interesting!

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