This is part of a series. To avoid confusion and mistakes please start at the beginning
We will be using the openledger decentralized exchange that exists on top of the bitshares network to convert those pesky BTC into fresh juicy STEEM.
First of all you will need to register an account. Luckily that is super easy due to the wonderful people at openledger. They are so cool they will not only pay for your account, they will give me credit for sending you their way if you click this-link, or if you don't beleive in that ref-link stuff you can just go to https://bitshares.openledger.info
once in you will see a screen that looks like this
Choose an account name (I highly suggest something under 15 characters long) and a good strong password (I highly suggest something over 15 characters long)
Once you have done that you will be faced with a page that looks like this
The first thing you need to do is to Create a backup by clicking the BACKUP REQUIREDlink in the lower right hand corner I know this may look like any number of websites thats saves your data, but this is actually a wallet running in your browser. Your private keys are never sent to the server, and therfore if you lose them, your funds and your account are gone. Forever. Thus is the joy of encryption.
Alright. You have backed up now right? okay we can continue.
Next step is going to be clicking the deposit withdraw button toward the top of the screen. you will then need to select the CCEDK tab. It should look something like this.
Double check to make sure you are on the CCEDK tab, and then take a towards the bottom and you should see a line that looks like
BTC 187MHwy4Ssa4mXYKZJPvSpzVgrpzKHRcfG NEW ADDRESS 0 open.BTC WITHDRAW
That bitcoin address is your deposit address. Any bitcoin that you send to that address will show up in your new bitshares account as open.BTC. open.BTC is basically a ticket for withdrawal of real BTC back into the BTC network as secured by openledger. You are on a decentralized exchange, so we have to be a little bit more explicit than on those centralized exchanges. (its okay if you have no idea what I am talking about) Just send some BTC to that address you found. Once the btc is sent, maybe go for a walk. take up photography, call your mom, pet your dog, learn to play the violin, and come back when that super speedy BTC network has finished transferring the funds into your openledger wallet.
Well I guess that wasn't as long as I made it out to be. Now that you have some open.BTC it time to convert that into open.steem. Click the exchange tab at the top of the screen and you will see something that looks like.
Its okay. This isn't going to be nearly as scary as it looks.
On the right underneath the help button there is another button that says "find markets" click that. It will change the upper right hand corner of the screen to look like this.
in that tab type open.steem:open.btc It should now look like this.
Click where it says open.STEEM that should take you to a page that looks like
You can tell which market you are in by looking in the upper left hand corner at the
open.STEEM:open.BTC is the market I will talk you through right now. You can reverse the bid and ask by clicking the
Please direct your attention now to the section in the middle of the screen that looks like
The four columns are The price per open.steem as measured in open.BTC. The amount of open.steem available for sale at that price. The total open.BTC it would take to purchase that entire amount of open.steem, and the final column lists the amount of open.BTC it would take to purchase that entire line of open.steem, plus all of the lines above it. In the case of the picture. If I wanted to purchase 500.194 open.steem for 1.100428 open.BTC. I would click the third line down. It will then populate a little over to the left in the section that looks like.
If that price is acceptable you would then click the buy button(if not you could place a limit order and not get immediate satisfaction, but that is beyond the scope of this tutorial) You will most likely then have to enter you password, and then double check and hit a confirm button. You will then get a notification that the transaction has been broadcast. Click the dashboard button in the upper left hand corner. You should now see open.steem in your balances to the right of your account name. It is time to move on to the next step
