OpenLedger and Scorum Launch Trading of SCR Tokens
The Family of Graphene-Based Blockchain Projects Continues to Grow on BitShares Decentralized Exchange
Benefits of trading on OpenLedger and BitShares
The OpenLedger gateway to the BitShares decentralized exchange offers a number of benefits for both newcomers to cryptocurrency exchanges and seasoned traders:
- BitShares offers a variety of collateralized market-pegged assets (AKA stable-coins) that are backed at the blockchain level by the BTS cryptocurrency. With the growing uncertainty around the Tether USDT dollar-pegged asset, BitShares can offer a secure and transparent alternative for traders to hold when markets dip.
- BitShares wallet users have control of their private keys and place trades peer-to-peer without the need to trust a central host to hold funds securely. This places funds security solely in the hands of the user rather than requiring trust in a privately owned and centrally vulnerable exchange company.
- Low transaction fees and high transaction times mean traders keep more of their funds as they trade instead of padding the profits of centralized exchange corporations.
Getting Started with OpenLedger
For Scorum fans who are not familiar with OpenLedger and the Bitshares decentralized exchange, there’s no time like the present to get started trading on their secure exchange. Unlike centralized exchanges, with OpenLedger and Bitshares you hold your private keys and can even run your own private node to trade on the exchange. No country can shut it down and no central failure can jeopardize the funds in your wallet.
- Create your OpenLedger wallet. Choose between wallet mode or account mode. Briefly, wallet mode is more secure and allows you an offline backup of your wallet, while account mode is easier to start using for beginners but offers slightly less overall security. See this post for details about which one is best for you.
Transferring SCR to OpenLedger
- Once you’ve made your wallet, click “Deposit/Withdrawal” on the top menu bar and type in SCR in the search box. Then click the icon under “Deposit”
3. This will bring up the deposit window with the address for OpenLedger transfers. Click “Get new address” button. This will show the address AND memo (your OpenLedger/BitShares username) you need to enter in your Scorum wallet.
4. Go to your Scorum wallet and enter the correct address and memo into the “send” tab. Double Check your address and memo! Then Confirm the transfer.
5. You’ll see the transfer confirmed in your Scorum transaction history and your OpenLedger Account
6. Select a market from the list below where you’d like to trade your SCR
Transferring SCR from Openledger to your Scorum Wallet
To withdraw SCR from the OpenLedger DEX, the process is quite simple. Select “Deposit/Withdraw” from the top menu bar. Then search SCR and click the icon under “withdraw.”
This will bring up the “withdrawal” pop-up where you can select the amount, see the transfer fees, and enter your Scorum Username/Address where you will receive your SCR tokens.
We hope you enjoy the Scorum trading experience with OpenLedger and BitShares.