Until now, BlockTrades has only offered an “instant exchange” service, similar to a currency exchange at a bank or at an airport. This form of exchange service is generally easier to use and less risky than a traditional exchange service that matches up price orders between it’s customers, because customer funds aren’t held at an instant exchange.
BlockTrades’ new trade-matching exchange service will support Hive trading
But with the announcement of Hive, we wanted to ensure that there would be at least one traditional trade-matching exchange service available at launch to support the coin. So for the past week or so we’ve had a team working to set up a new BlockTrades-branded exchange to allow trading Steem for Hive and other coins (BTC, LTC, etc).
I think the new exchange will be ready for launch by the time Hive itself launches, or very shortly thereafter. The trade-matching exchange service will be hosted on Bitshares, a decentralized, transparent, blockchain-based trading platform. More details on how to trade on the new exchange will be available soon.
Identity information required to use our trade-matching exchanged
Note that to trade on this new exchange, we will require customers to be provide identification info on our trading portal via their BlockTrades account there (we are required to do this by US regulations).
So if you want to be able able to trade Hive soon after it's listed, I recommend you send us your authorization request now, so that you'll be ready to go when trading commences. You can do this by going to the profile page of your BlockTrades account, then selecting "Authorization" from the Profile menu. However, if you've already previously provided identity info and been authorized, you do not need to do this step again.
After Hive launches, only our trade-matching exchange will support Steem tokens
We will of course maintain our existing "instant exchange" service, which will continue to function as normal, but going forward our "instant service" will only support Hive, not Steem.
So we will only be providing Steem trading services via the new trade-matching exchange.
awesome, good news :D
damn, wish I sold my steem at over 7000 satoshis
When will hive be added to the exchanges?
Sounds great!
So are you saying I won’t be able to use the instant exchange to swap my liquid Steem for more Hive? I can only do that by verifying my identity and using the new trade-matching process?
If so, why?
I wanted to clarify this as well @blocktrades.
Are you saying we can swap between Hive & the other coins (but not STEEM) on the instant exchange (which requires only an email for up to $1750 in trades per day), but that we can only swap STEEM for all of those other coins on the new exchange, which requires some sort of proof of strawman in order to access?
edited for clarity & mis-spelling
Proof of strawman. Lol 😂 . Funny you.
Posted using Partiko Android
As government mandate every exchange user must have KYC, perhaps if that's the case. I already submitted my identity to blocktrades couple of months ago... Today I have no idea.
Taking into account that @blocktrades is removing STEEM from the "instant exchange" platform and only making it available on the trade-matching exchange, which requires identity verification, the answer to your question is yes. STEEM -> Anything seems to require identity verification.
Whoa... this is exciting. Need to comb my hair for the picture for authorization.😎
that is a good new... perhaps try also to low down the fees :P
Will there be HBD and SBD pairs on the New Exchange?
Posted using Partiko iOS
yes
I am downvoting merely because I am anti kyc. I want to know what features require kyc vs don't. I am open to remove downvote afterwards
I can't wait to use the new exchange service hosted on Bitshares!
Can you already tell us the fee percentages, @blocktrades?
Ready to trade STEEM > HIVE
Is the exchange available only for US people or non US people as well ?
assuming everyone needs to KYC ?
It's available to everyone and if your trades are below $1750 you don't need kyc as far as I can see?
Just hit this toggle saying you are not a US citizen.
I was asking for the new exchange service they are about to launch..
I was asking for
The new exchange service they
Are about to launch..
- itstime
I'm a bot. I detect haiku.
Available for everyone that KYC's.
The US question is for trading certain coins (currently only OMG).
do you have to pass on the identity information to authorities or is it remaining on servers for some time until they are needed by authorities?
It's only passed along if requested or if transactions exceed $10K USD in a day. Or if transactions are somehow deemed suspicious.
I'm assuming that the authorities will be asking Justin Sun for an explanation of his recent trading activities 😂👍🏃
It just requires an email address to sign up for trades below $1750. I'm assuming that if you trade more than that then the IRS will need you to keep records of your trades for tax purposes?
We're required to keep all records of trades, even if no identity info other than email associated. Also, for the new exchange, the trades will be on a public blockchain anyways.
Cool that answers @maxsieg 53 question perfectly. 👍
I know we're mad at Justin Sun's abuse of STEEM, but I don't like that you're dropping the Steem Instant Exchange. Heck, you could use all the STEEM people drop to increase your stake vs. STINC.
Wow, this is Legendary....... Congratulations Time to get our Hive on.... "In Hive We Trust"
Posted using Partiko Android
"but going forward our "instant service" will only support Hive, not Steem."
So I can't use the "instant service" to dump Steem for Hive?
got messaged via mail, problem solved thx @blocktrades
Awesome. I always use BlockTrades for trading BTC to STEEM on the instant exchange. The newly-announced full exchange services and trading pairs for HIVE will be huge! Exciting times ahead. I'm so hyped right now :)
Bye, bye morons
I can sell all of my Steem and Steem Power for Hive?
I might wait for cucky sun to pump Steem then sell, but I dont want to give that tool that much credit, he is probably going to be broke after this.
Yes, assuming you can find someone willing to buy Steem after the launch of Hive :-)
When will Steem be available again? I want to sell. Also when will hive be on the instant Exchange?
You will get air dropped Hive tomorrow. As long as you are holding the token.
Ya but I want to buy as much hive as possible and get rid if the justin sun cancer steem.
Me too :)
Gotcha
Hi, what token?
Steem, SBD, SP
Do you anticipate your instant service supporting Hive immediately?
As soon as is reasonably possible. Within hours for sure I guess, probably much sooner.
Excellent! I put almost everything liquid into the “witness wars”... but I may need to dig into the couch cushions for some early buying power...
Great to see support for hive right off the bat.
Hive all the way.....
Posted using Partiko Android
Yo this is amazing! Get ready for traffic! :D
Thank you for all you do... This is bold and encouraging!!
Great information!
When all of this mess settles down and I go back to doing my own witness voting, you folks have my vote! Now I will go and do all this stuff! Not doing any trading or purchasing of anything right now for obvious reasons, but I want to make sure I am all set up. Thank you so much!If no one else does, I will be sharing this with the folks in PYPT. @shadowspub is great for getting information out. I hope she is not mad at me for tagging her (some people do get mad when I do that). This will probably be of great interest to her and @pennsif as well!
Gonna sign up today ♡♡♡
This is quite amazing. Thanks for all you do.
Posted using Partiko Android
Sounds really cool!
Great news. Did my authorization.
It is good to see a full exchange immediately pairing Hive with other tokens.
That explains the up-tick in Steem price.
I am trying to fill my request and it appears an error message stating that "there is an invalid email address" but theres isn't an email address in any field. How can I do that? (I can't upload the screenshot)
I logged out and logged it again and it seems that it worked as I can see that my identity request has been sent 3 times.
Then you only need 1 out of 3 to be approved.
Yes! ;)
Cool.
Atleast one exchange announced they going to list Hive for trading:
https://support.probit.com/hc/en-us/articles/360040728452-ProBit-Exchange-Will-Support-the-Upcoming-Steem-Hard-Fork-to-HIVE-and-Distribute-the-New-HIVE-Token-to-STEEM-holders-Listing-of-HIVE-confirmed-
Just signed up! Cheers. 🍻
Thank you for the new exchange! I traded a bit on Bitshares.
Congrat @blocktrades for launching a trade matching-engine on Bitshares. Best choice. instant exchange had been very good. Love your work since bitshares.
Good I was hoping I could trade my steem for hive
Posted using Partiko Android
This is amazing
keep on guys
@blocktrades if you like I can translate your blog post into Spanish. I'm trying to get the Spanish audience informed during this transition crisis (migration from Steem to Hive) by translating key post about service migrations to the new chain.
:P
Great News!
Cool! I'll look into it asap.
Thank you very much for the clear information, @blocktrades. Build trust.
A big success!!
Great news @blocktrades.
That is brilliant news @blocktrades! Congratulations on taking this next step, and major props for supporting HIVE in such a thorough way!
Glad to hear that #bitshares is set up for hive already.👍
The way we have conducted ourselves during this Justin fiasco is commendable and shows the calibre of this community.
God knows who he thought he was dealing with? 😂
Hive my up! 🏃👍
Highly rEsteemed!
I am all now signed up for Blocktrades but ( have company now so will do the extra Authorization later or tomorrow. So happy to see you accepting Hive I was wondering about it and if it would be accepted.👍✊✌
exciting times in the world of bizz-buzz!!
Thank you for providing an alternative to major exchanges that coorporated with the Steem takeover. Hive on!
Posted using Partiko Android
Went to find out what data is required for authorization.
🤑 🤑 🤑