Getting started with BitShares - Create a wallet and convert some SBD to BTS

Download the BitShares client

There are several ways to work with BitShares. Here I will explain how to use the BitShares client.

First step is of course to download the client. On the download page you can find several flavours together with the sha256 checksum.

To verify the checksum I mostly use MD5 & SHA Checksum Utility but you can use whatever tool you like best.

Once we are sure we have an untampered file we can continue and install the client. The setup just ends with opening the program automatically. So now it's quite obvious we need to set up a new account.

Creating an account

As always in crypto. You are responsible for your money. Make sure you handle this in a smart way.

Wallet model

BitShares is more than just a coin and the client can run various wallet models. By creating an account as explained above we are using the default or 'cloud walet' model. This is how BitShares describes this model:

To keep things simple we start with the advised cloud wallet. This can be verified in two simple ways. For this we have to navigate to the general section in the settings menu. Follow the steps in the image below and the Settings menu in step 3 should look the same. That's the first indication.

A second verification is to scroll down in the general section of the settings to t the 'Login mode' and it should be set to cloud wallet:

Convert and transfer SBD

One of the easiest ways to transfer steem or SBD is using blocktrades. You don't necessarily need an account. Having one makes it easier to keep track of your transactions however. With or without account the process is the same. First you need to enter what and how much you wish to send and then you need to select what you wish to receive. Once you have selected BitShares to receive you should get an indication of how much you will receive and you will get an updated receive address field where you need to fill in your BitShares account name.

Double check all data you entered and click 'Get Deposit Address'. You should get an updated page as the one below:

What you need to do next is transfer the amount you declared previously to the blocktrades account with the memo shown. Again there are several ways to do this but the easiest is from your steemit.com wallet. Choose transfer from the dropdown box.

Next you need to enter the information given by blocktrades. The to account is always blocktrades, the amount needs to match and as memo you need to use the exact memo as given by blocktrades. Once you click the submit button you will need to confirm with your password.

If everything went correctly you should now see your balance updated in your BitShares wallet.

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Posted on Utopian.io - Rewarding Open Source Contributors

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