12 October 2017 1:16 pm
Part 1 of this explained why BitShares is so exciting!
Part 2 discussed how to enter the world of crypto for the first time, with a step by step guide of how to buy bitcoin from Coinbase.com
Part 3 will teach you how to open an account on the BitShares Decentralized Exchange (DEX), so we can turn that bitcoin into BitShares!
BitShares Decentralized Exchange (DEX)
“BitShares provides a high-performance decentralized exchange, with all the features you would expect in a trading platform. It can handle the trading volume of the NASDAQ, while settling orders the second you submit them. With this kind of performance on a decentralized exchange, who needs risky centralized exchanges? bitshares.org”
The BitShares Decentralized Exchange (DEX) has a variety benefits.
• The DEX is decentralized, meaning you hold the private keys of your assets.
• Price cannot be manipulated by a central authority.
• The DEX allows for the creation and trading of bitassets. These are market pegged assets that have their value tied to that of real assets such as the U.S. dollar or gold.
• Decentralization gives BitShares robustness against failure. When a centralized exchange is compromised, millions of dollars and thousands of users are impacted all at once. In a decentralized system, any attack or failure impacts only a single user and their funds.
Why risk your funds on an antiquated centralized exchange when you can have all of the same trading features and more on the BitShares Decentralized Exchange?
Take control of your funds and say goodbye to the risk, join the BitShares DEX today!
Setting up a BitShares Account: Step by Step guide
Step 1: Go to https://bitshares.org/
Step 2: Click “Try Online Exchange”
Step 3: Click “Create A New Account”
Step 4: For this guide, I will be using the “Account Model” If you want added security choose “Wallet Model”. Click “Account Model”
Step 5: Create a public username and write down the generated password provided.
Never lose your password otherwise you will lose everything!
Again…DO NOT LOSE YOUR PASSWORD!
Step 6: Create the Account!
Take some time to explore your account and the exchange. There are many awesome assets available for trading, including bitassets which have their values tied to the value of other assets such as bitUSD (US Dollar) and bitCNY (Chinese Yuan).
Congratulations you now have a BitShares account on the BitShares Decentralized Exchange (DEX)!
In the next part of this series “How to Buy BitShares: Part 4” I will show you how to turn bitcoin into Bitshares!
If you want to learn more about the BitShares platform see complete training guide here.