Hello #Steemers!
A lot of users seem not to find a way to use their #steem
I have seen couple of method here, but most of them take a long time to start receiving money.
The way I use my BTC is via #Coinbase, selling Bitcoin there and withdrawing to my bank account.
I will show how to set up in short steps, but I can't do it with pictures, because I have already done it on my account obviously. :D Also, at the bottom I will list some pros and cons about using Coinbase for this job.
- Would be registering on Coinbase.com
- Downloading the mobile app
- Verify your identity (Your drivers license or ID or Passport), this step will be verified really fast, so no wories. Next steps will take a little bit longer in processing.
- Adding and verifying your bank account. Filling in your bank details, nothing really personal. Next will be verifying, to do that you will have to send a micro-transaction via your bank. (In my case I just sent 1 cent). All details will be given to fill in. This step will take 1-2 business days.
- Now just have to sell the bitcoins you have, in the Trade section of the site.
- Go to your currency wallet, and press withdraw. Fill in how much you want, and just accept it. To get the money in your account, it will also take 1-2 business days.
So the total setup time is like 4 days. That is not that bad as 14 days, and you don't have to get another plastic card and pay for it.
PROS
- The fees are not that big
- Coinbase is very trusted site
- No extra plastic cards
CONS
- The price of selling BTC there is a bit lower
- To receive the payment, it takes 1-2 days
Coinbase doesn't work for all Countries , Another way would be appreciated.
Thanks
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Good tutorial.
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Hey, I know this is an old post, and my apologies for this.
I've just set up a CoinBase account and am pending a transfer, but I haven't yet verified my bank account, this small payment, will this be transfered back?
Thanks in advance!
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