CONVERTING YOUR STEEM/SBD TO NAIRA (₦)- Exclusive For Nigeria Steemians

in blocktrades •  7 years ago  (edited)

cQRJwasv.jpg

Image Mix source: Steem-Naira Sign-Nigerian Currency

The Naira( ₦ or NGN) is the official currency of the Federal Republic of Nigeria, West Africa.

Bitcoin had been dominating the Blockchain for long, hence in most developing countries it is the only recognized Altcoin at the moment; It still reign Supreme. But there is always beauty from Ashes as Steem is on it's way to be another Known Altcoin in Nigeria and therefore the need to emphasize more on how to convert your earned Steem/SBD into the local currency (Naira) had suffice.

Truth be told, this still involves the use of Bitcoin as an Intermediary currency; But Hey, we don't mind; Steem/SBD is our bone of contention with a hard role to play.

NOTE: This whole process of converting Steem/SBD to Nigeria Local Currency does not exceed 1 hour maximum!

HERE IS A STEP-BY-STEP METHOD TO CASH STEEM/SBD OUT IN NAIRA (₦):

STEP ONE:

The very first thing is to have enough Tokens available for conversion. I recommend anything above 110 Steem or SBD equivalent for a seamless exchange i.e make that your exchange benchmark.

Once you have up to that or above in your wallet and the need arises for you to cash out, congratulations because you just hit your pay-day thanks to Steemit!

STEP TWO:

21103491_10211561948337941_749785910_o.png

Choosing the most prefered exchange platform is another important thing, choosing wisely requires your discreation and that is mandatory as many exchange platform have their perculiarity.

For newbies and redminnows; i strongly recommend "BLOCKTRADES" to you for it's simplicity and swift processes. Others you might decide to use are Changelly, Poloniex, Bittrex etc.

Another good reason is the easy mobile platform, i am using a mobile device for this tips, as you can see; the 110 Steem is showing the Bitcoin equivalent which is "0.03319452" approxmately "NGN 47,000" (Depending on the Steem/Bitcoin price as at the time of your exchange).

STEP THREE:

Next thing is to get your Bitcoin wallet address. Before now, you must have various specific wallets for your different Cryptocurrencies. If you do not have any; then i recommend jaxx.io (A multi-currency wallet).

NOTE: It is strongly advised not to store your Cryptocurrencies on an Exchange, you may loose it all. Another important thing is that, a cold storage wallet seems to be the best option.

Here is where to paste your copied destination wallet address into i.e where you want your funds to go.

21081597_10211561948417943_1292260484_o.png

REPEATING STEP THREE WITH LUNO AND OR REMITANO

Presently, Luno and Remitano are the most secured platform to change your now converted Steem/SBD into Naira, you could sell the Bitcoin you had secured with your Steem/SBD instantly (Maximum of 30 minutes)

21057831_10211561948137936_1431201172_o.png

Using Remitano; as i have used it on several occasions seamlessly, put your Remitano Bitcoin wallet address in this space:
That is if you want to sell and get your Naira equivalent in your bank accounts instantly.

CLICK ON THIS LINK TO GET REMITANO ON YOUR PHONE

Once your funds get into your Remitano wallets (Which takes approximately 10 t0 15 max, if other things being equal), then sell to trusted buyers as listed on the website (A process that never exceeds 30 mins).

NOTE: Remitano strongly suggest you do not approve reception of payments if you have never gotten a bank alert from your local Banks.

That is simply how to turn your Steem/SBD into Naira on any internet enabled device.

Hopefully and soonest Steem/SBd can be converted directly into Nigeria's local currency and be able to foster transactions.



UPVOTE, RESTEEM, FOLLOW AND MAYBE DROP A COMMENT.....It's your friendly Neighbor @oluwoleolaide for Steem-Lagos-Nigeria-Africa-World!


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Thanks @oluwoleolaide! Believe me, the above answers many questions in the mind of the newbies and especially my 'Euronation' goons! This is a must for them to read!

Thanks for this detailed procedure!

Welcome bro, thanks for patching the info to the Euronation...Me Trippin for you guys

I have to get my REMITANO account very soon (voice of the BAT). Thanks cap, it's your non-friendly neighbourhood BATIE

🤣🤣🤣🤣😋😋😋😄😄😄🤣😂😂😂

Oh my Battie!

Hahahahaha...My friendly neighbourhood oluwolelaide

@smyle directed me to this post... Thanks for sharing, can't wait for my wallet to reach 6sbd... 😁

Most welcome, i sent you a gift...

Awwwwww... I saw it, omg😱 thank you so much .

Most welcome...

Sent you too

Omg @surpassinggoogle i saw it😥😱😱😱 thank you so much.

what if i want to convert Dash or Zec to Steem? could you help us through a post or something dear friend?

You can use an exchanger like bittrex or changelly.

Exactly!....

But hold-on, will make a post about that soonest!

Pls be fast about it, thoughts are random and coincidence occurs.

hahahahhaa, that's the beauty of Steemit!

Our ability to fine twist ideas is the key....So let's both make a post about it together, different approaches; you in bro?

Good post @oluwoleolaide. I just have some concerns about jaxx wallet after their security issue. Coinomi doesnt have steem. I wonder if there is a better wallet.

Well, what i do is send to Remitano directly, safe to say i do not keep Bitcoins for long.
I prefer in Steem or SBD so when i have need for cash i just send to Remi straight....jaxx.io is multi-wallet so it might be useful as a cold wallet i suppose.

ok. Well, steem and in sbd has more useful value than in bitcoin. Jaxx is of value because of it is multi-wallet like you have said, I hope their security path has been fixed. I uninstalled mine .

Thanks @oluwoleolaide ref.@smyle
This post just ease me of my major concern

BOOOOM!!!!! and that's it

Very helpful tips. Thanks ref @Smyle and kudos @ @oluwoleolaide

very welcome

I have an account with virtually all exchangers, remitano seems good.

I like their security and simplicity.....Hopefully they will adopt Steem Exchange directly soon.

Nice post boss!!, time to start accumulating the cents and $... This post was really helpful, thanks to @smyle for the ref

Welcome buddie, thanks for the @steem-lagos logo

Thanks for this helpful information.

Gracias!

Thanks @oluwoleolaide for this info but I'm yet to know which is ready for conversion. Is it the steem dollar? Or...

Can you be more clear with the question?

If i get you right, you can cash Steem or SBD out once you have enough e.g say 110 Steem/ SBD.

I am particular about 110 cos that will give you something substantial in Naira....

Thanks bro, for this wonderful piece of knowledge u just shared here. I have been wondering how long such transaction would take, had no idea is even less than 24 hrs. @smyle, thanks for sharing it with us in euro nation..

Thanks for going through it mate

God bless you for this. you have saved a lot of people from going through the trouble of finding how to do this.

Amen and Amen...

You are awesome!

You just answer Nigerians question with this post. I have been using luno for my transaction. Thanks for this post . One love

One love brother!!!

Thanks for the detailed explanation/procedures for converting SBD to naira. It lays to rest my concern.

Very welcome

Quite a timely post. Thanks for sharing.

You are most welcome...

Great tutorial from a great person. I have resteemed i'm sure my followers and readers would need this.

Egbon oshe o...U really cut it down here..

Nice post @oluwoleolaide. Thank u for such amazing infor.

most welcome brotherly...

This post has received a 1.56 % upvote from @drotto thanks to: @banjo.

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by oluwoleolaide from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

This is very useful. Though seeing it late. Thanks.

Most welcome mate...

Page Bookmarked...for the future when...

@oluwoleolaide thanks for sharing this very useful post, I came across the link on DISCORD APP.

You are indeed a blessing to steemit community

Bless you too bro...