Cashing Out

Okay now, you've got some steem dollars and converted them to steem. The next step is to convert those seem into bitcoin using the concise instruction provided here https://steemit.com/steemit/@ratel/instructions-for-those-who-want-to-withdraw-their-steem-to-bitcoin. At the moment this requires a lot of steps. You could also transfer them to a trusted steemit user who is more familiar with the process. By trusted I mean a person you actually know rather than someone who you find online.

After a successful trade you’ll have some bitcoin. You can spend those bitcoins at http://expedia.com for all your travel needs, http://overstock.com for your household items, http://dell.com for technology stuff and finally get some gift cards at http://gyft.com to buy yourself a coffee. But what if you want to get your hands on real cash or buy things at places that don’t take bitcoin directly. You could open an account at one of the bitcoin exchanges like http://coinbase.com or http://kraken.com to link up your bank account and withdraw those converted bitcoins as cash. If you’re in the USA then this may be the best choice.

My personal preference and the one that gives me the most options is to take those bitcoins to fund a virtual or physical debit/credit card so that I can take my money out at an ATM, spend it online or at any business that accepts debit/credit cards. To do this I use http://wallet.advcash.com/referral/66ee079d-ef52-4532-9129-899b2c616b76 (not available in the USA) to convert my bitcoins into either US Dollars or Euros. The first $1000 doesn't require you to upload any form of ID. Yes, later on when you find that you’ve become a very popular contributor then you can upload some ID to increase your limits.

This is not an exhaustive list for converting your steem -> bitcoins => cash or stuff but it’s another step to monetizing your contributions and participation in making steemit.com a success story.