Converting STEEM into South African Rands
If you want to convert your STEEM (or STEEM POWER) into South African Rands in a South African bank account, then follow these steps.
1) Power Down (If you want to cash out your STEEM POWER)
Log in to Steemitwallet.com
Choose amount and click Power Down
You'll receive 25% of your SP as STEEM every week for 4 weeks.
2) Transfer to Binance
If you don't have a Binance account:
- Sign up with Binance (https://bit.ly/binance-trades)
a) Choose Fiat & Spot from the Wallet menu
b) Filter STEEM, and choose Deposit
c) Choose OK if prompted
d) Make a note of the address and Memo:
e) Go to SteemitWallet.com and choose Transfer from the dropdown on your STEEM balance.
f) Fill in the transfer request using the details you noted in 2d above
3) Sell STEEM for ZAR
a) Trade STEEM for BUSD
If you want your sale to go through immediately, then click the topmost green number on the left side of the screen.
and then complete the SELL form below the graph
b) Trade BUSD for ZAR
Complete the SELL form similar to the steps above
4) Withdraw ZAR
Choose WITHDRAW from your Fiat & Spot wallet (or click https://www.binance.com/en/fiat/withdraw/ZAR)
Complete the withdraw steps.
P.S. You will be required to complete KYC and link your South African Bank Account to Binance first.
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