If you are a Poloniex user you've likely noticed by now that there are constant issues going on with deposits/withdrawals for many coins, but STEEM, SBD, and BTS seem to be down frequently. There are connection issues, like just recently when the site was completely down for hours. As of now Bittrex is having its own issues issues with STEEM. post by @quattrobit Bitfinex doesn’t trade STEEM tokens but it is changing its policy on US residents. BTC-e shut down. Government regulation. post by @cryptofreedom It’s becoming clearer every day that the crypto community cannot rely on these exchanges and the assets held on them to remain available to its users. We need a way to trade coins that ensures we are always in control of our coins. That they can’t be stolen by governments or hackers. That our accounts can’t be frozen and stuck in someone or some company’s possession. One very easy way that I have found is using Steemit.com.
So far, I have used Steemit only to trade other crypto for STEEM, but you obviously don’t have to. I had gotten some of my coworkers into Steemit around a year ago when they were giving away $2 worth of STEEM when you signed up, which was about 18 tokens. Since then the rise in STEEM, BTC and other cryptos that I have been getting into has gotten my coworkers more interested in crypto. One of them wanted to grab a couple dollars into some other coins and sent me some STEEM for the coins he wanted that I had. If you look at my wallet and scroll down you will see a transfer from another Steemit user with the memo “dash” which is our exchange. He sent me the STEEM and I sent him some DASH.
If we want to find buyers/sellers we will need to make it easy to find what coins you’re looking for and trading for coins you have. Using tags like #buysteem/#sellsteem or #steem4btc and in the title clarifying what is being traded and what for. If you want to set your price you can or you can do best offers, or you can split trades between multiple currencies. You can negotiate publicly if you would like or take it to a private chat. You’re safe either way.
I recommend that after a trade be done the poster should send the minimum amount of STEEM or SBD to the buyer with a memo as a receipt and a link to the post where the sale was made. This will keep a record of sales so that you can always go back and review your trades and so that others can review your trade history and make sure you are safe to trade with. You also might want to include “Non-refundable” to the memo, that’s how they do it on localbitcoins.com.
I think that any posts for crypto trades should be demonetized. In my opinion, you should not be draining the rewards pool to make money off your crypto trading in this way and I think that anyone not demonetizing their trade offers should be flagged or at least ignored. I hope that a developer can come up with a way to make use of this idea to make it easier to trade crypto in a way that gives use control over our assets as we trade them. Until then, even if all of the exchanges shut down at least we still have a way to trade, here, at Steemit.com.
If you have any ideas to add or think my idea is terrible, don't forget to share below!