I would like to thank cryptosile from EveryDayCrypto for producing a great video walkthrough on how to use the BitShares wallet to create and cover a BitAsset. I will probably be producing a similar video at some point in the future, but for now this is the best that is available.
Some minor corrections and clarifications:
- Initial Margin is 3x the value of the BitAsset created
- Minimal Margin is 2x the value of the BitAsset created
- If minimal margin is reached then collateral will be sold and 5% of any remaining collateral will be collected as a fee.
- Margin positions expire after 30 days and your collateral will be used to cover without any fees.
- Transaction fees are paid in BitBTC if you have enough BitBTC to pay the transaction fee.
If you have questions about this video, it is being discussed at bitsharestalk.org