BitShares Forum

Main => Technical Support => Topic started by: wdfh on June 22, 2017, 07:25:50 am

Title: Withdrawing Bitshares
Post by: wdfh on June 22, 2017, 07:25:50 am

Hi All,

I've just realised that the Bitshares DEX is great at holding BTS, but not so good when you actually want to withdraw your coins and/or transfer to something else...

I want to participate in an upcoming ICO but its ETH only.

I don't have any ETH, so I need to trade some of my BTS, unfortunately there is none for sale on the DEX in any meaningful quantity, so I need to buy from another exchange, maybe Bittrex?

So I try to withdrawl, but you gotta go through a Bridge... OpenLedger doesn't convert BTS, so got to use Blocktrades and convert BTS to BTC.

Tried a small amount and nothing appears in my account?

Am I missing something here or is it really this convoluted and cumbersome to move things around? It seems like if you're not in ETH you're not in the game at the moment?!

Title: Re: Withdrawing Bitshares
Post by: pc on June 22, 2017, 10:27:32 am

Well, if you want to participate in ETH smart contracts, holding your stuff in BTS is a bad choice of course... that's the nature of things.

Liquidity and volume are the weak points of our DEX. If you want to trade a large amount of BTS into ETH, you should transfer your BTS to a centralized exchange that trades it, like Poloniex for example, and sell it for ETH.

If you send only a small amount via a BTS->BTC gateway, the resulting BTC amount may be too small to cover current mining fees.