Cash out STEEM / SBD in RON, Full Guide 💲

in money •  7 years ago  (edited)

Hello there fellow Stemians,

I’m coming along with this guide for our Romanian community to cash out their earnings!

I tried, with all my best, to simplify it in 3 steps: Earn your rewards, Withdraw and Cash OUT.

Let’s get started:


Earn your rewards

This is what we are working for. Appreciation that we receive for our content. We can earn STEEM / SBD by:

  1. Writing posts
  2. Receiving upvotes
  3. Making curation
  4. Wining contests, receiving donations.

Build your stack with as much money you want before you consider to take them out. As a recommendation don’t withdraw less than 50 SBD to transform them in CASH. The amount will not be so great and you have to work extra for few $$$.


Withdrawal

Here is where you chose to transfer your money from Steemit. In this article I will write about 2 major trading platforms: Poloniex and Bittrex . Here we convert our STEEM / SBD in Bitcoin. Why? Because we don’t have a RON exchange yet.

!With all the problems seen recently with Poloniex trading platform, I recommend to use Bittrex until new updates.

  1. Go to Blog – click on wallet – chose STEEM / SBD – click transfer.
  2. Write wallet name in “to” section. Even they are standard: “poloniex” and “bittrex”, You must check them on your wallet inside the trading platform!
  3. Complete with the amount
  4. Write your wallet account MEMO ! It is different from an account to other and you find it next to wallet address name.
  5. Submit!

cascasa.jpg
Transfer from Steemit
transfer.png
Use info for step 4 . Every account has different MEMO! Be careful not to send STEEM into a SBD wallet or SBD into a STEEM wallet. You will lose the coins!!!

Done! Now your earnings are transferred. It takes up to 30 minutes to appear in you Polo / Bittrex wallet.

  1. Exchange them for Bitcoins. You can set a selling order (at a price that you want) or sell at the actual market price. (is seen as the first price in “BUY” order.)

buy sell.png


CASH OUT

Now that you have Bitcoin you can transform them in RON.

Again I recommend 2 Romanian exchange markets : Bitcoin Romania and CoinFlux.

  1. Create an account on one or both websites.
  2. Confirm your CI by uploading in your profile. (takes up to 24h for confirmation)
  3. Choose SELL Bitcoin: enter amount that you want to sell and chose your payment method.
    -Online payment in your bank account. (both)
    -Cash in Smith&Smith agencies (only Bitcoin Romania)
  4. A bitcoin address will be generated where you send from Polo/Bittrex.
  5. Send you bitcoin and DONE. In maximum 24 H you have your RON in your account.

*As a reminder: Bitcoin Romania uses ING Bank for instant payments and CoinFlux CEC Bank. Minim withdraw 0.05BTC

btcroma.png
Bitcoin Romania

Thank you guys,

I hope you find my guide usefull.

Cheers!


Check out my latest articles about my daily life experiences
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Useful post. I am using Coinflux since last year. It's the best ♥️

Coinflux is my choice too.

Thanks for sharing

Don't forget. Sharing means caring! :D

I wish you a great start of a week

I'll have this one in bookmarks. Thank you!

Me too! Thanks, @ mikimike!

Glad to hear that girls. I am here with support any time. :)

This post received a 2.5% upvote from @randowhale thanks to @mikimike! For more information, click here!

Thanks so much for the guide !! Very helpful - @ch00fy

You're welcome!

Cheers

So for the moment the only 2 options are : ING Bank & CEC Bank or this are the ones that you are using?

Great that you ask ! You can use ANY bank account. These 2 are use by them to make the payments. So as we know, internal bank transfers are much faster than from a bank to another.

Bitcoin Romania uses ING
Coinflux uses CEC

Ok... got it! Excellent post ... as mention by few before this one goes to bookmarks!

Good job mate, well written!

Thank you Razvan! If i missed anything let me know :D

Full vote for today. Real valuable information.

The profit that is taken out will be under the "Declarație 200" when it is cashed? I'm just asking because I don't have any clue about it.

Will be under "Nu dam nimic la stat" declaration. For now, cryptocurrency doesn't have any reglementations for taxes here. :D

Wait for it.... :)))

Very useful information. Thank you, man! For now it is not the case, but who knows? Maybe someday, I'll be in a position to cash in on the money.

Useful info ! Thanks !

  ·  7 years ago (edited)

Thanks. Anytime :D

At the end of the chain explained very well by mikimike, you can chose also to cash out your gains through https://localbitcoins.com/ which offers you the possibility to trade your BTC directly to cash (RON or even EUR with some traders) or by transfer to your preferred bank account.

  ·  7 years ago (edited)

I knew i forgot something to put in the article :)) Thanks for new info!

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by mikimike from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. 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.

If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.

Great Job on this walk through, Should help bring more users into the platform!

Hope so :D

Thanks for this very useful guide, keep the money-how-to info coming, many people here can benefit from them. :)

Thanks. Next one i hope it will be " How to spend easy your 10k $ from Steemit"

Amen to that :)

Ok articolul, pe zi ce trece invat tot mai mult de la comunitatea romanilor in Steemit, va multumesc @mikimiki @alinamarin @startupacademy

A very good article for all Romanians. :)

Thank you, @mikimike !

With welcome @raulchirila . I am glad you found my info useful. :D

See you around.

Wow, thanks for sharing this. I consider it very useful 👍

Thank you dude. This is useful.

With welcome @laurv