Swapsteem is a peer to peer exchange for Steem blockchain. We are creating a platform for Steem users to enable P2P trading of STEEM/SBD to different Fiat and Crypto Currencies using secure escrow transactions. This post is regarding the new Instant Swap Feature we have added at Swapsteem to enable trading BTS User Issued Assets for STEEM/SBD securely with other steemians.
What is Insta Swap
At Swapsteem, we have an escrow enabled robust and secure exchange in place for trading STEEM/SBD in multiple markets. Although it is the most secure way to exchange crypto on multiple chains without using pegged coins, it comes with a lengthy process of escrow transactions which can take from 1 min to 1 hour to confirm crypto payments while it may take up to 3 days to resolve in case of Fiat bank transfers.
To resolve this problem, we have partnered with @onepagex which is an instant cryptocurrency exchange application. @onepagex provide a simple HTML widget that can be added to any web page to enable crypto to crypto instant conversion powered by @onepagex.
The fees for conversion has been set to 0.5% of the amount being exchanged.
How to convert STEEM to BTC
- Step 1 - Visit https://swapsteem.com in your browser.
- Navigate to and open the "Insta Swap" menu in top navbar
- Select the Coins you want to exchange
- Enter the Amount you want to exchange and the withdrawal Address where you want to receive coins
- Hit Start Exchange button, You will be provided with an address and an optional memo to deposit the coins you want to exchange. You will need to manually deposit the coins to the address provided. As soon as your payment passes the required number of confirmations on the chain, your withdrawal will be processed.
- Add Refer and Earn Feature
- Add Steem Keychain for Additional Security
- Update the UI for a better experience
- Add More Token markets and pairs
Call to Bug Hunters
Anyone having a steem account can test the Fiat and Crypto pairs on our Demo by creating a new listing or simply buying/selling from existing listings. Please find the link to Demo and tutorials on the process in the links below. Bugs acknowledged by us will be rewarded by utopian and other supporters. We will also give some special perks to our bug hunters for reporting potential vulnerabilities.
Call for Delegation
Swapsteem is an open source project, recognized and supported by @utopian-io. Please consider delegating to @swapsteem to help us with the Development and maintenance of the application. The delegation will be used to upvote the Development and other contributions towards @swapsteem.
The delegators will be eligible to get early access to our beta once launched this week.
You can trade unlimited amounts on the alpha with discounts on trades up to the SP delegated weekly.
@diggndeeper.com - 1000 SP
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