You maybe are already familiar with Bitshares, Steemit's "parent". Maybe you know some of the usual exchanges to buy some BTS. An alternative way to buy Bitshares is through a Ripple "Gateway", that in certain cases means less trading fees and that means you can get more BTS for less money!
One of those gateways that operates in Ripple is called "RippleFox":
So if you have a Ripple account, you just need to trade at the BTS.RippleFox/XRP market and you will be able to buy any BTS.RippleFox with XRP. The RippleFox address on Ripple is: rKiCet8SdvWxPXnAgYarFUXMh1zCPz432Y
So, now you bought some BTS.RippleFox on Ripple using XRP but want those to be converted into "real" BTS on the Bitshares platform. First you need to associate your own Ripple address on Ripple fox, with a "memo-ID". You go to:
https://ripplefox.com/bts/deposit
and enter your ripple address on the "Get memo-id" box.
Once you have your memo-id you are able to withdraw your BTS by sending your BTS.RippleFox IOU's to RippleFox on Ripple using the memo-id:
https://ripplefox.com/bts/withdraw
If anything goes wrong, you are always welcome to write to the support staff at: [email protected]
TIP:Do you want some 5 FREE BTS? You just need to add a new trustline for BTS.RippleFox (with at least 5 BTS of trust) on Ripple and they will automaticaly send 5 BTS IOU0s to your Ripple account.
Do you know that the ripple network is a privatized blockchain?
So it's actually a centralized system.
That makes BTS (Bitshares) extra interesting don't you think?
https://steemit.com/bitshares/@c15k0/is-bitshares-the-future-of-trading
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Any blockchain is "private", your private share is the amount of tokens. The network runs to validator servers running "rippled". Anyone can add a validator server to the network, because it's open source software. The reason why Ripple is so "hated" among some is because it was the first real alternative to Bitcoin. Now BTC is "centralized" on a few Chinese miners while Ripple continues to distribute the XRP token and more non-Ripple owned validators are added to the network.
But, let's say you have XRP and you don't want to hold that token anymore. Well, if BTS is the alternative, you can use your XRP to buy BTS and maybe some people didn't know how. That's the reason why I wrote this article :)
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It would be great to add some screenshots to this posts.
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Hi noisy, thanks for the advice. I will edit the article with more screenshots, etc. if I notice some more interest from the community. This is my first blog post on steem, so I am lerning :o)
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I made a follow-up post with screenshots of the current BTS/XRP market (0.85 BTS/XRP):
https://steemit.com/bitshares/@argsolver/the-rise-of-bitshares-in-ripple
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