Been waiting weeks to access Steem stored as Open.Steem. This is a reoccurring problem with OpenLedger that happens at the most inconvenient time. This is a common problem with many Exchanges but OpenLedger not only takes down their wallet frequently, they also misplace funds. I have had to open multiple tickets to ask about where funds disappeared to, typically resolution time is 1-3 weeks.
It comes back to the old adage, if you don't own the private keys, you don't own the tokens.
Out of the 15 or so times, I tried to withdraw Open.Steem in the last few months, most of the time they lost the money for a few weeks or the gateway was offline. I'm just trying to get what Open.Steem I have left out as I no longer trust using it.
This goes back to what I said before
Exchanges don't owe you a damn thing - Part 1
Exchanges don't owe you a damn thing - Part II
Whenever possible, keep your tokens in a wallet you control the private keys to.
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It's a freaking steem and not some unstable coin. I don't really know what they are doing, but it sucks.
Then why is it unstable like the rest of them?
What is unstable about steem?
@themarkymark Are you trading by Poloniex or have you used Poloniex? I am just wondering how long does it take for them to process frozen accounts.
I don't use Poloniex
Whoop Whoop
Glad its not just me than, i already lost 19 sbd, after many rude tickets with false promises i give up.
Still love bitshares, luckily we will have more and more gateways, forcing them to be competative and give better service.
The most convenient way to store - cold storage! We use Nano Ledger S...
.. but there are other options as well ;-)
My husband @phillip20 used Nano Ledger. Awesome to store some cryptos.
Yeah i have a ledger, at some point you need to sell tho, and what happend is that i sent my steem dollars to openledger-dex on bitshares and just never received them..
this was just before sbd went over 1$ value.
starting to think its very very odd that allot of people lost them around that time to openledger....
they said a couple times they would fix it, and closed the ticket everytime... as solved.
eventualy they said they where too busy and it was stuck on the old gateway.
Couple months later and i still dont have it.
Beware people...
Use the same
Great post dear keep it up
When you talk about open ledger are you referring to steem? I do believe this is an innovation and I strongly agree that keeping your key's safe is the best option for large sums of cryptocurrency.
No, I'm talking about OpenLedger
honestly i am tired of open ledger my self, don't know how many times i have had to open a new account with them. they are so incompetent . They really need to resolve this issue.
You've clarrified it well. The most convenient way to keep tokens is in the wallet. No one can get access to it. You can always wait however long for the stock market to be favourable for you inorder to exchange and during this wait the money is safe enough. Just hold on to the private key to your wallet.
I've heard of OpenLedger and I even think of opening an account there. Thankfully I've read your post or I might have regretted it later. But seriously how could an exchange service be THAT bad? Thanks for the info.
Good point. I haven't had many problems with openledger. Id recommend only keeping what you are trading or able to lose on any exchange. Cryptos is the wild wild west right now.
There are not that many exchanges for Steem. And in the end, it has to go through an exchange.
From your 3 parts I guess OpenLedger, Bitshares and Poloniex are out of question.
Leaves Bittrex or the high fee blocktrades?
Bittrex for me isn't really a solution with their support taking 3 month to solve a ticket
Why not just stick with the good old store of the keys on paper?
Because I have to actually use the money and the gateway has been down for weeks and they frequently lose money and take weeks to fix it.
My idea would be that you sell the open.steem for ETH and then buy STEEM with it via Blocktrade.
Good post
Does this problem transfer over to open.steem which is held on bitshares?
yes, I use Bitshares, but OpenLedger is responsible as it is their asset.
That is not cool.
Quick question.
Which exchange do you think is the best to diversify my steem? I have seen a lot of people using bittrex. What do you think?
When you say diversify you generally mean different tokens, not storing the tokens in many spots. But tokens should never be on bittrex unless you are actively trading, same with all exchanges.
You should them in a local wallet you own keys to, preferably a hardware wallet if possible.
It sucks having such a limited variety of ways to move the crypto around
Right there with you AGAIN. I think we both had funds stuck in limbo with them at the same time in the fall as well. Mine goes back to December 9th, or whatever day it was that SBD pumped up to $16. Openledger still had some selling at around $8 so I scrounged up the BTS to buy what was low for a quick double up. It only ended up being 9.5 SBD, but still, that's a $72 flip once I transferred through Steem over to Bittrex. Problem is it never got to Steem, and with the transfers all going to openledger-dex there isn't a hash to track or anything.
I've tried to avoid using them since, unless there was another obvious price discrepancy, or someone sent me a token there.
Kind of given up on those funds at this point honestly.
Good reminder... many people forget about this little tiny detail.
It holds true for most exchanges out there.
I recommend BitShares... use it, love it!
And than? still need to use openledger to get your OPEN.steem off there.
I use Bitshares, the problem is some of the tokens go through OpenLedger gateways so you still get screwed.
https://bitshares.org/download/
I have a local wallet, it doesn't help as it is the gateway that is down. So you may own the tokens, but it is pointless if you can't send them anywhere when you need to or they lose them for weeks when the gateway isn't down.
My only option is to wait weeks and hope they bring it back up, or just sell it on the market and hope I can buy something else without loosing too much.
you could also use rudex.steem, works better than openledger at the moment @themarkymark
I have used it in the past but my open.steem can’t be withdrawn via rudex. It is basically stuck there.
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very good information my friend, although I have not really know the steam problem in swallow, I still quite layman of this problem, but denhan read this post I can understand a little, whether steem in our wallet will be lost when we subscribe with other users?
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great.