There is a danger lurking that most steemians are still not taking seriously. I urge you to take action and not become another statistic..
If you still routinely use centralized bitcoin exchanges to sell your Steem Dollars for fiat currency, here is something that I would like you to read:
»» Blockchain Graveyard List ««
Fortunately, there are other options.
Familiarize yourself with decentralized trading software. This series is still evolving, expect to see more tutorials in the upcoming days.
If all you are looking for is price stability, but you do not necessarily want to go all the way back to the legacy financial system, it is also possible to leverage #bitshares for this task.
As support for Bitshares Smartcoins is only days away from being added to #bitsquare, you will soon be able to trade a wide array of national currencies (with #bitsquare), while keeping your money secured on the #bitshares blockchain.
EDIT: Bitshares Smartcoins have been added to Bitsquare!
While bitshares smartcoins do not pay interest (like Steem Dollars do), it may still be a wise investment strategy to:
- Not have all your eggs in one basket (Steem, and USD).
- Diversity into other currencies.
- Obtain price exposure to precious metals, such as silver and gold.
#bitshares makes all of the above possible. And you will also be learning about one of the most exciting blockchain technologies around - the same technology that powers #steemit.
@karnal Excellent news! Bitsquare is an awesome tool and I've loved watching it grow and mature as a platform. You guys have done great work!
I am not affiliated with Bitsquare in any way, but I too have seen it grow and develop, and I think it is really good software (with a few rough edges still, it is a work in progress).
I hope that more people here on steemit discover it too!!
@karnal Fair enough, I was more or less meaning the community at large though ;)
Oh :-)
Thanks @karnal for touching on the most exciting part of #bitshares, the opportunity to trade vs real world assets be it USD or precious metals.
For me that has always been where the most revolutionary aspect of the system lays, not necessarily because that is where the most money is to be made, but because it could potentially obsolete a lot of the functions of a bank.
And I am all for that +5%
Thanks for the information. The crypto-world is getting so vast with so much to learn. An odd thing is that it's a multi-billion dollar playground that most people never even heard of.
You are welcome.
Hope some of this is useful to all the new blood that is not yet up to par with the possibilities that we already have available today.
And yes - most people have no idea of the volumes of value that flow in and out of crypto daily. Crazy!
A decentralized bitcoin exchange: One day we will never be Goxed or Finexed again.
That is the dream!
Very informative article, thanks
Thank you, glad you liked it - and hope it can be useful to you in the future.
Thank you for the info. I watch into Bitshares since yesterday's info about Bitland project. Every crypto to fiat conversion is a bit risky. I miss the opportunity to directly convert SBD to SP. If there is possibility to do it not via SBD ->STEEM conversion, please let me know
Thanks for the article. Made me curious, now I have to do further research on #bitshares ;)
Now that is what I call time put to good use! hehe.
yep i agree! great post! thanks!
Its like another world out there. Im have no idea how this stuff works but its so interesting.
I think that we need this type of posts to be on the main page due to the importance of understanding the crypto world and mostly the major differences between fiat and crypto, forex and crypto exchanges, volatility, etc.
Or just to have a help section or just a link in the main page You are new to cryptocurrency ? Let me help you.
I am trying really hard to raise awareness about this sort of stuff.
It is not easy!
will have to try that out. This does motivate others to consider this or try this out. Thankx for the awesome article :)
If you have any questions just let me know, or ask in #bitshares or over at the friendly bitshares forum
We are here to help!
a good head's up.
after Bitfinex, fairly reasonable to play it safe/smart - and ALOT of people seem to be pointing to decentralized exchanges (such as Bitshares) as a safer alternative...
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I'm new on steemit and have not yet figured out how to switch my points as I'm not familiar with crypto currency and bitcoin. Thanks for the post.
It will get easier with time.
All this stuff can be a bit overwhelming in the beginning.
Have you read the stuff about choosing a random huge password, logging in with your POSTING key for daily activities and so on?
Before you go into anything else, those are the fundamentals that you must have nailed down. I am not sure if the new people joining realize this well enough, and since there is no sticky functionality in steemit, I fear that this information might get lost over and over again in just a couple of weeks.
I like how this is explained in the article. It definitely gives you something to think about.