OMG! I gots a Steem Dollah

in steem •  7 years ago 



It's burning a hole in my Wallet! How do I turn it into MONEY?
...................................................................................................................................................................................
Well I'll tell you..
Here's whacha do.
This is the way I do it.
(after much trial and error..mostly error)

Open three tabs on your computer monitor.

note the order.
..Steemit on the Left
...BlockTrades in the middle
....a Fiat Gateway Exchange on the Left
(I use CoinBase)
.
I consider the order to be important..
.it helps to avoid mistakes.

FIRST....

decide which intermediate Crypto to use..
I use LiteCoin because ..
..reasons..
go to the FG Exchange..

select an address for
(in this case)
LiteCoin

that address and the others shown for demonstration purposes
goes to ME...
be aware
Any money sent there I'm keeping!

copy it onto the notepad of your computer..
then go to the middle tab.

you want to exchange Steem BlockChain Dollars
....for LiteCoin
so

and

for

and then..
take the LiteCoin Address that you copied and paste it to

do it and you get.

this is the money part..

copy the memo then go left young man (or gal) go left again
..to Steemit.
go to your wallet
....and LOOKIE THERE!
a steem dollar (and a half) is just sitting there!
All lonely...eager, ready and willing to be EXCHANGED.
so do it..clik on the leeetle down arrow

and you get

select Transfer and you get.

Note: the drop down menu of those you follow is a new thing...If you follow BlockTrades there it is.
just select it.
If NOT..then type it in

decide HOW MUCH SBD do I want to trade?
oh the agony of decision.
all at once
or save a little bit and do it again later?
..........................................................
all seriousness aside
...you might actually consider it.
use small amounts that won't hurt you if you screw up
and PRACTICE
Until you get it right.
.....................................................................................
I'm feeling adventurous...
I'm going to trade ALL of it at once.

Now!
paste in the MEMO

so far it's been fun and games.
NOW
it's about to get real.

take a break

relax.
rest a little while.

Then when you feel up to it.


Make SURE you have the correct MEMO is the correct place
Make SURE you are exchanging SBD instead of STEEM!
(I done that one time...stupid mistake...lost my money..all gone)
Make SURE that you have the CORRECT LiteCoin address...
did it copy correctly? has it got ALL of the characters?
if it's not EXACTLY right...your money is GONE.

that's why I have the three tabs in that order
check the steemit wallet for the right memo
..then move right.
check BlockTrades...

is all of the correct information in the proper places?

then move right.
Check CoinBase...
are you SURE you got the right address?
then move left...
BlockTrade
Move left again
Steemit
check again
move right, right , right
then
Left, left , left.
Again and AGAIN
Until you are

ABSOLUTELY SURE

that you have all of the right information
in the correct places..
Now it get's

REAL

copy your active password to your computer's clipboard
get ready..

(say a prayer...invoke your inner Teddy Bear)
SUBMIT

past in your password.
now
THINK
this is the point of no return
once you clik

your money is GONE.
Gone where IS the question
Are you sending it where you think you are?

It's not to late to check some more.
this is why I suggested using a SMALL amount of SBD

ARE YOU READY?

GO!

it's gone
Now move to the right
to the BlockTrades tab

IT WORKED
(we hope)
it got to BlockTrades
(I've done another trade recently is why it shows 2)
now move RIGHT
check the fiat gateway exchange
(coin base in this case)

YES!

after that follow the procedure of the exchange that you have chosen
to convert the LiteCoin to whatever fiat you want
then do what you want to with it.

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Awesome post @everittdmickey well written and easy step by step directions. It doesn't get any better than this.

thank you.

Thank you for this post. I have yet to exchange my crypto for USD and I am so anxious. I have a Bittrex account. This is all new to me so the more info I have ...the better. I can be "thick headed" at times or you can call it "old school". LOL!

Considering this is my first day at steem.
This content is Gold.
Thank youuu

glad you like it.
I live to serve.
you might check my blog for
"how to succeed on Steemit" posts
I've written a few of them..
for example

Will check it out right away.
Steemit is only making my 2017 even better.

if that doesn't work for some reason
you might try OpenLedger or Kraken
there are others.
I expect 2018 will be

AWESOME!!!!

(yay trump)

Nice tutorial and screenshots.

LOL "Any money sent there I'm keeping!" Primo!

Good job
Nice info for new steemit fellows

you earned your upvote on this one matey - great post, seriously (and I like sloths)

Great info. Thank you.

Thank You sir...this post is a must resteem...Done :)

Thanks for the helpful guide! I strongly recommend using Blocktrades as well. It's a really great exchange website who has one of the quickest support on the market.

Nice work on this post! This is something everyone new to Steemit should learn right off the bat. Never know when one post will make you rich! LOL.

Thanks, @everittmickey and Merry Christmas!

💙 Great post. Very good writing,i like this post 💙

       💛 Thanks for Sharing  💛

open music gif.gif

Switching to LTC is a great idea right now. BTC fees are too high.

Is there a reason why you dont use an exchange that would directly accept SBD like bittrex?

yup..bittrex is not a fiat gateway.
it's just a crypto exchange.

ah makes sense. I use a prepaid Visa for the BTC-Euro Cashout

🔥$ Awesome info!! 👍👍
Thank you @everittdmickey!!

do you use litecoin because it isnt so backed up right now, does it transfer faster? I feel like I should do this...

I use it cause it's cheap and fast.
the transfer fee is.

about $.83 right now
and it only takes seconds..
the notification of 'incoming' is sometimes at coinbase almost instantly

okay, question then, how do you get a litecoin into your bank account, is there a resource you would suggest for learning this? I cant find any on google, not eaisly at least

depends on what fiat exchange you use.
on CoinBank I can instantly sell LiteCoin for USD which is then deposited in my USD wallet (on Coinbase)...which I can then dump (all or part) directly into my checking account.
(usually over night).

I can't tell you how to set up at a fiat account...I'm sure they are all different.

is there an option in the wallet usually connecting it to your bank? sadly i have to use a different wallet cuz coinbase wont let u sell in canada

not according to This

ya I can buy things on there but not sell for some reason, unless it changed like today

Is VISA allowed in Canada?
If it is then get a VisaShiftCard
to use with one of your wallets on CoinBase
I don't recommend using BitCoin

Very good. Resteemed. Thanks!

glad you like it.
merry christmas.

Great post. Really wished @blocktrades would start supporting ZEC though. Since BTC has become pretty much unusable as money due to transaction costs and transaction delays, I've switched to ZEC as preferred currency for offering and buying services. Pretty sure my steemit presence would be significantly more liquid if I didn't have to go through an additional exchange to change ZEC to STEEM or SBD to ZEC.

litecoin works pretty well
so does ethereum if you grab it by the pussy...
er...I mean.
well...ethereum is having a Krypto-Kitty problem.

Your all article is great
You're awesome
Thanks
Keep up the good work

Great explanation, my friend, I have resteemed and upvoted. I also used litecoin for the first time recently and it was so much faster than bitcoin.

very informative post @everittdmickey

very nice post and i love reading your artichel

Very educative and lovely to know about....thanks for sharing....

Always use the SBD to buy Steem and then power up!

*unless your a broke ass who needs this money to survive

exactly right
Beans, Bacon, Bullets, Beer, Booze
Cigars and Rent...
the important things in life.

your milage may vary.
different strokes for different folks..

good method dude thank you