How to Buy BitShares: Part 4

11 December 2017 10:10 am

Part 1 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 taught you how to open an account on the BitShares Decentralized
Exchange (DEX)

Part 4 will show you how to transfer your BTC from Coinbase and turn it into BitShares!

Turning BTC into BTS!

 

 

Step 1: Open your web browser and go to coinbase.com

 

 

Step 2: Click “Sign In” and log in to the account you created

 

 

Step 3: Click “Send” tab

 

Step 4: In a new window, open the BitShares Decentralized Exchange (DEX)
https://bitshares.org/ Click “Online Exchange”

 

 

Step 5: If you are not already logged in, log in to your account.

 

 

Step 6: Click the “Deposit/Withdraw” tab.

 

 

Step 7: Select the following options
• Transfer Service (Openledger)
• Coin you would like to deposit (BTC)
• Choose deposit or withdrawal (Deposit)

 

 

Step 8: Copy the BTC Address presented

 

 

Step 9: Go back to your Coinbase account (you should be on the “send” tab)

• Paste the address in the “recipient” box

• Select the amount of BTC you wish to transfer

• Send funds!

 

 

Step 10: Confirm the transaction and wait for it to process and confirm (This could take some time because of the current slow bitcoin transactions)

 

 

Step 11: Once the transaction completes, go back to the DEX and let’s turn that BTC into BTS! • Click “Exchange”

 

 

Step 12: Choose the market you wish to access, in this case choose “BTC”

 

 

Step 13: Choose the desired trading pair, BTS

 

 

Step 14: Below the chart choose “Buy BTS”

Enter the price and amount you wish to buy and then select “Buy”.

 

 

Step 15: You will be asked to unlock your wallet before the transaction can be accepted.

• Click Confirm

Congratulations you just bought BitShares! Once you are on the BitShares DEX, there are a lot of different assets that you can purchase, including bitassets or Market Pegged Assets MPA. Market Pegged Assets are freely traded digital assets whose value is meant to track that of a conventional underlying asset by means of contracts for difference (CFD). Put more simply, MPAs allow the creation of tokens which have a value pegged to another asset. This allows holders of the token to achieve the stability they need while maintaining the properties and advantages of a cryptocurrency.

 

 

Among these MPAs are:

  • (Bit)USD
  • (Bit)CNY
  • (Bit)EUR
  • (Bit)GOLD
  • (Bit)Silver

 

Take some time to explore the exchange and all that it offers, if you need more help there are a lot of resources available Steemit.

 

In the next part of this series “How to Buy BitShares: Part 5”, I will show you a super quick and easy way to turn crypto into Bitshares!

Click here for part 5!

 

If you want to learn more about the BitShares platform see complete training guide here

 

 

Follow BitShares

@bitshares : @BillionHero