Steemit How To: CASH ME OUTSIDE! How to Turn Your Steem $ Into Real Money

hannahlicious (59) in steemit • 8 years ago

For some of y'all this is really easy, common sense type of stuff. Steemit is a social network built on blockchain that pays rewards in cyrptocurrency, and a lot of people on here are here because they are already familiar with that kind of stuff. However, when it comes to your average girl next door (hey there!) 🙋, who may really want to join Steemit for the blogging, community and rewards, there may be a little confusion when it comes to how to turn $ you earn on here into real world dollars.

Thankfully, I happen to have a cryptoloving husband @rlamasb who has been able to help me cash my crypto out in the past using the Living Room of Satoshi here in Australia, like earlier in the month when I wanted to cash out my profit that I made on Ethereum:

However, I listened to enough Destiny's Child growing up to know that I shouldn't be depending on my husband for everything in life, especially when it comes to finances. I needed to be able to handle this shit on my own if I am going to start taking cryptocurrency seriously. So this little guide is one that I have put together to help people, similar to myself, who do not come from a tech-savvy background and want to know how they can transfer their Steem into their bank account.

Balances in Steem Power or Steem Dollars will need to be converted into Steem. For Steem Power this is done by clicking 'Power Down', although it will be released in instalments, not straight away. For Steem Dollars (SBD) this can be done through the internal marketplace in Steemit.com or by clicking 'Convert to Steem' in your Steemit Wallet.

Disclaimer: I will not actually hit send at the end to transfer into my bank, because I intend to Power Up all of my Rewards now, as I am thinking more long term, but I will still walk you through every step of the way

1. You will need to set up an account on www.bittrex.com

2. In your Bittrex Wallet click on the + sign next to Steem to Deposit your Steem from Steemit into the exchange. If you can't see Steem appearing straightaway on the first page of your wallet, search for Steem in the search bar on the top right.

3. This box will pop up to give you the memo and the account info that you need to use in your wallet on Steemit.com to initiate the deposit

4. Go into your account on Steemit.com, and in the Wallet, click on the your STEEM balance and hit 'Transfer', inputting the details from your Bittrex wallet as shown

5. Move back to your Bittrex account and when the Steem has cleared through, click on the underlined text hyperlink 'STEEM' and that will move you to the marketplace where you will then exchange your Steem for Bitcoin (so that you can transfer Bitcoin to real money after).

6. You will need to scroll down on the market page underneath the graphs to find this 'SELL STEEM' box. Select the amount of Steem you want to sell (hit Max for all) and then click the blue 'Sell STEEM' button

7. Woohoo! It sold and you now have Bitcoin! When you see this you can return to your Wallet (still in Bittrex) to see your bitcoin sitting there

8. For fellow Australians (Hi guys!) you can then use www.livingroomofsatoshi.com to send your funds into your bank account, which when they clear will appear like the screenshot I showed earlier from my ANZ bank. For other countries you will need to find the equivalent website, for the US I believe you can use Coinbase. To start this process I enter my BSB and ACC # and the number of bitcoins I want to sell

9. You will then be given an address to move funds accross, you will need to copy these details into your wallet on Bittrex

10. In your Bittrex Wallet click the - next to Bitcoin to initiate the withdrawal and enter the information from Living Room of Satoshi (or another website if you are not Australian)

So there you have it in 10 simple steps: How you can turn this money you are earning on Steemit into real money in your bank account. Cashing all your earnings out of Steemit.com isn't the reccomended thing to do by cryptolovers, as most prefer to invest into Steem Power to boost rewards on the site and look for a longer term profit, but it is nice to be able to have the option if you wanted to cash out all or part of your earnings. Some cash out to exchange for other coins, in order to make a profit in the market and then convert back into Steem.

Hope this was helpful for fellow newbies such as myself! Reach out to me in the comments! What are you guys planning on doing with your Author and Curation Rewards? Follow, Upvote and Resteem to show me some love 😍

If you are a newbie and want to check out some of my other posts. I have a Steemit How To: on writing a good post, another on how to use Streemian to boost your rewards and one on how to make more money from your posts.

Check out as well my first week highlights, and how I made $400 on one post

Thanks for reading and have a great weekend! 😊

steemit steem bitcoin money cryptocurrency

8 years ago by hannahlicious (59)

$39.76

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crosheille (67) · 8 years ago (edited)

Wow I needed this post! Thank you for all of this info! You have a follower in me :) I too am a wife of a husband that loves crypto currency and is learning more about it everyday. I want to learn how to do this myself as well so with his help and bloggers like you I know I am well off! Feel free to follow me and my mom life of adventures and photography as well :)

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2 votes

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hannahlicious (59) · 8 years ago

Thanks, my pleasure :) Yeah Steemit is a great place to learn more about crypto, I have only been here just over a week but learning so much already!! I will come over to your blog now and check you out :)

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1 vote

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crosheille (67) · 8 years ago

Awesome thank you! I am so excited to learn and become a skilled cryptoer...lol if that's a word. I hope you enjoy my blog, I'm just getting more involved here after having my 4th child last year.

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hannahlicious (59) · 8 years ago

Wowww 4 babies :) congratulations!! You must be a busy lady!!! Just checked out your blog, looks great, I am following you now so looking forward to seeing your posts :)

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crosheille (67) · 8 years ago (edited)

Thank you so much!! Yes, there is never a dull moment over here. I am a stay at home mom and I also homeschool them. Adventure awaits :) Loking forward to more of your posts too.

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pearlcore (45) · 8 years ago

Thank u crosheille :-)

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crosheille (67) · 8 years ago

Absolutely!!!

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dontstopmenow (68) · 8 years ago

Nicely explained @hannahlicious !!
Thanks for taking the time to express it nice and clear for us noobs here...
Pictures make for easy comprehension :D

Y plan on powering up most of my rewards, and the diversifying a little, maybe getting some Iconomi and some Golem.

Thanks for taking your time to make it easy for us !! appreciate it

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1 vote

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hannahlicious (59) · 8 years ago

Thanks so much :)
Yeah I think thats what I will do as well.... just powering up this month and then next month as you said diversifying a little... but I haven't decided which coins yet :) maybe I will read a bit about Iconomi and Golem as well!!

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1 vote

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pressurepointau (44) · 8 years ago

Resteemed and upped !

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1 vote

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hannahlicious (59) · 8 years ago

thanks so much @pressurepointau :) I really appreciate it!

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1 vote

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firstsomali (42) · 8 years ago

I didn't think it was you hanna.
I wanted to follow you second time!!..

Thanks for posting good content always.
Thank you.

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hannahlicious (59) · 8 years ago

Thank you so much for the support Mustapha :) hope you have a great weekend!!

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1 vote

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firstsomali (42) · 8 years ago

MY PLEASURE.
Same to you.

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fwaheedq (31) · 8 years ago

it was no doubt lengthy ...but full of educated article...well written...pls the sight www.bittrex.com is working or not ...i tried to sign up but every time its saying there is an error.

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hannahlicious (59) · 8 years ago

Bittrex is working, I just logged in :) maybe you should try a different email address? :)

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wandrnrose7 (65) · 8 years ago

This is just what I need, because I know nothing about this platform or cryptocurrency but I am willing to try anything. I'm redeeming this so I can have it on close hand for when I'm ready to make this attempt. Thank you ❤

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hannahlicious (59) · 8 years ago

Awww perfect, glad I could help!! Steemit is a great place, lots of positivity here, and you can blog about anything :) hope you have fun here!!

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wandrnrose7 (65) · 8 years ago

❤ I fear that I am positively addicted. I never was addicted to Facebook but this format of sharing and caring about one another and learning so much has got me wrapped around its finger!

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hannahlicious (59) · 8 years ago

hahaha I am super addicted as well!!! had a lot less sleep this week than usual, spending too much time on Steemit :)

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wandrnrose7 (65) · 8 years ago

Me too! I was up until 12:30 a.m. Writing my last post last night. The first thing I do is pick up my phone and look at my messages lol

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amberquamme (48) · 8 years ago

Thank you thank you thank you!!!!

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hannahlicious (59) · 8 years ago

:) you are welcome!!

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cheech-oz (65) · 8 years ago

Good stuff, I bookmarked to help me in the future, half this stuff doesn't really make sense to me.

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hannahlicious (59) · 8 years ago

Hahah thanks, hope it will help you :) Half this stuff doesn't make sense to me either, but I think its just a learn as you go process and at least being here I guess will help us become more familiar :)

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cheech-oz (65) · 8 years ago

Exactly right, the process helps us learn. Couldn't have said it better

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randowhale (67) · 8 years ago

This post received a 5.0% upvote from @randowhale thanks to @hannahlicious! For more information, click here!

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iyt.kawaii (36) · 8 years ago

Wow! I really appreciate this post! Very much useful!! Thanks for sharing this!

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hannahlicious (59) · 8 years ago

my pleasure :) thanks so much!!

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raincountry (56) · 8 years ago

Thank you for this! It looks very thorough. I do not have time to study it all now but am bookmarking for future reference and resteeming.

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hannahlicious (59) · 8 years ago

thanks so much, really appreciate it :) hope it will help you in the future!!

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satx210 (42) · 8 years ago

Thank you for another great informational post!! Keep On Steemin On!!

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hannahlicious (59) · 8 years ago

thank you so much for reading!! :) you too!

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bearbear613 (67) · 8 years ago

I could use the Canadian equivalent for depositing into bank account. Thanks for the tutorial though!

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hannahlicious (59) · 8 years ago

hey thanks @bearbear123 I'm not sure of the canadian, but I would check with an experienced canadian steemian... I know @karenmckersie is one and has been around since the beginning so I would reccomend asking her :)

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philogyny (36) · 8 years ago

I am not where near ready to cash out, but I will be referring back to this when I am. Thank you for taking the time to post this =)

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hannahlicious (59) · 8 years ago

thanks a lot for reading, appreciate! hope it will help you in the future :)

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artedellavita (64) · 8 years ago

Had to bookmark this! Great post! Upvoted!

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hannahlicious (59) · 8 years ago

thank you!! i really appreciate it :)

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artedellavita (64) · 8 years ago

You are very welcome! I hope your weekend is off to a great start!

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schattenjaeger (71) · 8 years ago

I wish one day people will consider crypto money "real money".

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volcom2558 (25) · 8 years ago

Thank you for this post!! This is exactly what I needed.

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hannahlicious (59) · 8 years ago

My pleasure :)

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hannahlicious (59) · 8 years ago

haha I am sure there will @schattenjaeger, I think it will be a natural evolution...in the same way people didn't used to trust banks and preferred to keep their savings under their mattress... I'm sure Steemit will help familiarize a lot of people with cryptocurrency who wouldn't have even thought about purchasing it before!! :)

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dasczecher (46) · 8 years ago

Thanks!

First things first I need my blogs to earn more than a $0.01 each but when I've cracked that I'll be sure to take profit as per your post above!!!!

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hannahlicious (59) · 8 years ago

hahah aww :( you will get there! just keep posting conistently and engaging with people here and you will be fine!!

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steemcenterwiki (59) · 8 years ago

Thanks for sharing! A link to your post was included in Steem.center wiki page about Steem Exchanges. Thanks and good luck again!

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hannahlicious (59) · 8 years ago

Awww thats very sweet :) thank you so much!!! hope you have a lovely weekend!!

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mikej (50) · 8 years ago

I like this way of selling and I hope we get a simular echange like you have in Australia.

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hannahlicious (59) · 8 years ago

Hey @mikej you are in USA right? you would follow all the steps but instead of doing the final exchange of bitcoin into US dollar in living room of satoshi you would do it in Coinbase I think :)

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mikej (50) · 8 years ago

Oh ok, thank you! I have an account at Coinbase but something was wrong with their system and I had a hard time adding a payment method and they said they are working on it so I will try again.

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ikadika (45) · 8 years ago

I known all those thing. But to be honest, there was time I was without these information and it took me big period of time to catch it all, so of corse I'll resteem it :)

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hannahlicious (59) · 8 years ago

thanks so much for the support, i appreciate it :)

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mrdeerants (46) · 8 years ago

ReSteemed for ya...very good explanation.

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hannahlicious (59) · 8 years ago

thank you so much :)

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jibi333 (40) · 8 years ago

wow hats off to you Girl seriously you released my half tension

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minnowsupport (70) · 8 years ago

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by hannahlicious 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.

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screenname (66) · 8 years ago

This post has been ranked within the top 50 most undervalued posts in the second half of Jun 23. We estimate that this post is undervalued by $68.55 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Jun 23 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

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drogs (41) · 8 years ago

great article thank you !! ill follow you. please do the same @drogs

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birdinc (62) · 8 years ago

Nice tutorial for newcomers. Good work.

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kickadventures (27) · 8 years ago

This is SO helpful! Thanks so much @hannahlicious :)

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kryptoknightk (47) · 8 years ago

"Cash me ousside" girl bought a Porsche today. She be cassshin out!

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hannahlicious (59) · 8 years ago

I know i love her music video, made me laugh so much!!!! haha :)

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jibi333 (40) · 8 years ago

wow grear tbd

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jessandthesea (57) · 8 years ago

I used this, and I don't see anything showing up in my bittrex account. I followed the instructions exactly. How long does it usually take?

Also, thank you for the post! This is a whole new world for me.

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hannahlicious (59) · 8 years ago

Hey @jessandthesea, have you checked back in your wallet lower down where you have pending withdrawals, pending deposits, etc. Sometimes there may be a message there to say it needs you to verify your email before it will allow it to go through, so double check your inbox as well.
Usually would not take too long at all, how long have you been waiting? :)

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jessandthesea (57) · 8 years ago

I actually found an easier way to do it here: https://steemit.com/steem-help/@piedpiper/how-to-withdraw-your-steem-dollars-in-less-that-a-minute

thank you for the response though :) have you tried going the direct blocktrades route into coinbase?

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2 votes

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hannahlicious (59) · 8 years ago

no worries! No I haven't not sure if I can do that because I'm in Australia, but I can use my bittrex wallet to exchange for other crypto, or move it to living room of satoshi to cash out. I'm super new to crypto so learning little by little! Thanks for sharing the article :)

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1 vote

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lgbogfg (25) · last year

Thank you for the great guide https://9blz.com/lbank-review/

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