Splendid Review Of BLOCKTRADES : Quickly Exchange Digital Currency in 2018
@Blocktrades on Steem is an account owned by BlockTrades International Ltd. Dan Notestein is the founder and the CEO of the company registered in the Cayman Islands. As we Steemians know it - Blocktrades helps us to convert our Steem into Bitcoin or Litecoin or Ethereum and send it to us in our preferred wallet address. Where we convert our cryptocurrency to fiat. This post will explore more about the company and services they offer. How they work and what are some advantages to use them.
As an Indian cryptocurrency trader, I will also cite an example where I will explain how you can convert your STEEM or SBD to Litecoin through Blocktrades. And Ultimately to fiat INR.
Blocktrades provides various services around Blockchain and other conventional technologies. Below graphic will list down the services provided by them:
Now we will talk about the services offered by them on their website. They offer a variety of Cryptocurrencies to choose from for trading.
You can access their services on their website and know more about them. All the relevant links are given below:
About: https://blocktrades.us/about
Contact: https://blocktrades.us/contact
Steemit Account: @blocktrades
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This is where you can trade a number of cryptocurrencies and exchange them with the options available. For example: If you want to convert Bitcoin into Ethereum/STEEM or vice versa, you can do so using this services.
Currently you can exchange Bitshares currencies like BitCNY, BitEUR, BitShares, BitUSD, OPEN.BTC, OPEN.DASH And Bitcoin, Bitcoin Cash, Dash, DogeCoin, Ethereum, Litecoin, Steem and Steem Dollar.
As I mentioned earlier, I will show you an example of how you can exchange your STEEM with LITECOIN and send it any wallet or exchange in the world. Then from that exchange, Litecoin can be exchanged with any other digital currency or your local currency. In my case it is INR (Indian National Rupee)
STEP1
You can sign up you want but exchange can happen without signing as well. Go to quick trade. Input the amount of currency you want to exchange (In this case, it is 20 STEEM) The output amount of other cryptocurrency will automatically be populated (In this case, it is 0.36 LTC). Please note that the prices are changing continuously. The amount of LTC here is just an estimate and the live price will be considered at the time of transaction. Input your LTC wallet address, I have added mine which is
LZPi3JnenTRLtHWQd7xzCPdD56AsieV1CP
Donations are most welcome. 😜 This address is mine but you need to add yours. Please do not make a mistake here. Double check your wallet address where you can deposit LTC.
I use Koinex and it's one of the biggest crypto exchanges available in India. You can use this exchange to convert your LTC to INR. :) Just a simple market trade!
STEP2
Click on "Get Deposit Address" and trade will be initiated. The next screen you will see is this:
You can either choose to SteemConnect to confirm your trade or you can use manual transfer:
Through SteemConnect
Add your account name as shown in the below screenshot. Click on "Transfer Using SteemConnect" to confirm the trade through your active key. Cheers! Trade successful.
Manual Transfer
Why would you use "Manual Transfer" when you can use "SteemConnect"? Well, I don't know why, but still. Open your Steemit Wallet and transfer the amount of STEEM to @blocktrades with the memo mentioned on the screen. Your LTC will automatically be transferred to the mentioned LTC Wallet Address. Cheers! Trade Successful.
STEP3
Check the status of your transaction as show below. You can find it at the bottom of the "Quick Trade" Page.
I am not explaining how you can convert LTC to INR or any other cryptocurrency which is available in Koinex Exchange because that is out of scope. Now let's see some other STEEM Related Services that are available on Blocktrades website.
Now there are multiple services related to Steem Blockchain that are very helpful for any Steemian out there. Out of these three, I have only used one. But I will explain how all of them works one by one.
Buy STEEM Account
Recently @steemitblog made a post on the new features that are added in the condenser. You can also check more about it in the vlog by @exyle on Paid Signup Option added on the STEEM Homepage which also includes one option as buying the account through Blocktrades.
Choose your account and copy the password. Also back it up safely somewhere in your cupboard, Okay?
In the next step, you need to select the payment method as we did in exchanging Steem and Litecoin. They are quite similar and easy. I would suggest you to send at least 5 or 6 SBD to pay Steem Account Creation Fee and also the Fees deducted by Blocktrades which is around 1 STEEM. This is a very easy and quick method to instantly get your STEEM Account.
Buy STEEM Power
You can use this feature to buy Steem Power. Just select the currency you want to convert into Steem Power and add the amount you want to spend. For ex: I want to convert my Steem to Steem Power, here I mentioned that I want to spend 20 STEEM. For 20 STEEM, I will get 19.95 STEEM POWER. Similarly, you can convert BTC, LTC or any other coin listed on Blocktrades and exchange it into SP.
Click on "Get Deposit Address" and follow the next steps to complete the transaction. These are same as we did in "Quick Trade" section.
Buy STEEM Delegation
You can also buy Delegated Steem Power from Blocktrades maybe because they have it in abundance. Haha! You can choose your amount that you want to exchange with Delegated SP. Please note that this amount of SP will be added into your current amount for 90 days only. After that, it will be removed from your effective power.
This is kind of leasing or loaning the STEEM power from Blocktrades. I have used this feature myself and it works like a charm. Leasing STEEM power can also be done through Minnowbooster which I already explained in this post. Now let's talk about a few advantages of using Blocktrades.
Blocktrades provides very simple yet useful services for crypto traders that are looking to have a seamless experience while exchanging their favorite cryptocurrencies. Blocktrades is one such platform where you can have such experience in true sense. Listing down some advantages of using this exchange:
Guess what, Blocktrades run a witness server as well. They are among the top 20 witnesses on Steem Blockchain, holding 18th Position as of now. Let's find out why they deserve a witness vote from you:
Apart from the above advantages, there are two more reasons due to which @blocktrades deserve your witness vote:
Their Steemit account curates and upvotes kickass content on the Steem Blockchain. Level of interaction from such a huge whale account is a lot. I have seen them replying to each and every query customers ask on their blogs. This also means that they are providing a great customer service which adds so much value to their overall service and to the STEEM Blockchain
Recently I saw a post from @anomadsoul where he announced the winners of a contest called "My 2018: First @Dlive Blog". It was designed to increase the engagement on Dlive Platform and thus to the Steem Blockchain. Guess what, @blocktrades was one of the sponsors of this contest. Which means, they are funding awesome projects and contents to enhance the quality of engagement on the Blockchain. They are one of the most generous whales out there.
Vote @blocktrades for Steem witness!
Directly Through SteemConnect: Cast Your Vote
OrGo To https://steemit.com/~witnesses and vote manually!
Find @blocktrades at position no. 18 and press upvote
I hope this review helps you to understand blocktrades and how they are adding value to the STEEM Blockchain every second. The team behind them is doing so many things to keep this platform running on full pace. If you liked this review, please leave an upvote to support me. Also Resteem, so that other people can learn from it and make this amazing service provider more popular than it already is. :-D
#Promo-Steem Infographic Series:
✅#Promo-Steem Infographic Series - Part #1 || What Is Promo-Steem?
✅#Promo-Steem Infographic Series - Part #2 || Advantages & Benefits
✅#Promo-Steem Infographic Series - Part #3 || Steem Ambassadors
✅#Promo-Steem Infographic Series - Part #4 || How To Contribute To #PS Initiatives
✅#Promo-Steem Infographic Series - Part #5 || Promo-Steem Resources
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Underrated Bots On Steem Series
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✅Underrated Bots On Steem Blockchain! || Episode #4
Check My Previous Posts:
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Just an irrelevant question. Is Steemconnect safe?
Think I read it was hacked or something...
Hey @iliasdiamantis, Thanks for asking this question. Actually the hack was on @utopian-io and not on SteemConnect. It is totally safe even though anything can be hacked on this planet. :P Please read the below reply from @andrarchy that I saved a long time ago. In this, he explained how SteemConnect is not using any of your keys and hence it is very safe to use.
thanks for your answers :)
From what I understand the bug that was being exploited was shut down and fixed almost immediately.
The people that develop for steemconnect are incredibly active, so it is perhaps one of the more secure and faster things to be responded to in the entire steem ecosystem.
Thank you so much @dwinblood for pitching in. :-) You are absolutely right!
Awesome content @hungryhustle @nabithecat will be thrilled to add this to her list of crypto-education things to read. Super useful. Hope you are keeping cool. :)
Thank you so much @artemislives. I am having a great time with my Watermelon Mojito. :-D Cheers!
Say "Hi" to @nabithecat from me. :-)
I feel a whole organic sustainable COCKTAIL post in my future. :)