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RE: BitShares hangout # 56 Jan 27 2018 explained, summarized and sectionized
I am extremely new to all of this bitshares and open ledger business, myself. I appreciate the guide and will continue learning! So far I really like using the open ledger
So OpenLedger is a company with a wallet and you send them your BTC and you'll get Open.BTC back which is worth nothing but they promise you 1:1 backing. It's like giving your gold to the bank and geting a receipt, people started trading these receipts and thus paper money was invented. Atomic swaps however will let you hold your BTC and swap it say for LTC on the BitShares DEX or wherever but it can be slow and you can be scammed when someone changes his mind and decide not to trade, scamming you of a valuable opportunityt to trade with someone else for a better price... Timing is important too.
Here's the explanation on Atomic swaps