Because of the high run on bitcoin, I sold on sunday evening and converted it to Euro on Kraken. I didn't want to have too much money in the exchange so I requested a withdrawal immediately. In less than 24 hours, I got the money in my account. I think that is super fast! How do you think about this? How long does it take on your exchange to execute a withdrawal.
On Bitshares you don't have to withdraw funds. You just convert open.BTC to bitUSD. Everything takes 3 to 5 second.
Check his site: https://bitshares.org/
Read link: Price-Stable Cryptocurrencies, where assets pegged to Bitshares token is explained.
All your funds stays on Bitshares blockchain, can't be hacked or stolen, if you secure your password and master key.
Complete new world are this decentralized exchanges (DEX). Very cool stuff, go and check it!
And follow me I write a lot about Bitshares DEX and stuff alike.
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Thanks for the information, very interesting! I will definetely take a look at it. I assume you cannot use the bitUSD for paying in shops,... can you? Do you have any idea how long it takes to convert bitUSD to real USD? :)
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If you register on https://wallet.bitshares.org and create account on BitShares exchange there is provided gateway over open ledger to withdraw to fiat.
I withdraw to fiat occasionally when need fiat cash but for trading I just use bitUSD because exchange between pegged assets on Bitshares is fast and cheap. Fee is 0.001213 BTS = $0.00228 in the time of writing. This is less then cent per trade regardless of amount.
This exchange is super fast and cheap. When you decide to trade trade is performed in 2-5 seconds.
Give it a try and if you will have questions you can contact me!
Happy trading.
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