There can no greater gift than that of giving one's time and energy to help others without expecting anything in return. - Nelson Mandela
Hi Steemians!
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Blocktrades is the easiest method in withdrawing your earnings in Steemit. A simple "tic-tac-toe", very convenient to use. By using blocktrades, you bypass one method : "Selling your Steem/SBD in the external market". Block trades will do the job for you.
Blocktrades is not only limited to Steem/Steem Dollars/Bitcoing conversions, it offers wide range of cryptocurrency exchange like Bitshares, Etherium, Dogecoin, Litecoin, and etc. Since we're talking about Steemit withdrawal process, let's stick to Steem/Sbd conversion.
This walk-through process is intended to guide Filipinos in using blocktrades directly to their wallets. The only bitcoin wallet easily available for Filipinos to convert their bitcoins to Philippine Peso is "Coins.ph". To describe, this will be the process of blocktrades :
This is assumed you already have a "Coins.ph" account and you already identified your "btc wallet address" in your coins.ph account.
Let's Start!
Identify an amount (Steem/Steem Dollars) in your Steemit wallet
Let's take Steem Dollars as an example. Under your wallet, click the drop-down icon beside your SBD earnings. Then click transfer. It should look like this :
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Go to https://blocktrades.us/ (website)
You don't need to login to perform the transfer.
Under blocktrades website, you can see a "Send" and "Receive" tabs. To explain it, we will use Steem Dollars placed on the send label simply because this is the token we want to send. In receive tab, we will also use Bitcoin because this is the token we aim to receive. As mentioned above, blocktrades will do the work for the conversion! The site should look like this :
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Go to your coins.ph account.
Find your btc wallet address. Once you found it, copy that 32-bit wallet address. Go back to blocktrades site, then place your btc wallet address to the label box Your receive address. The two should look like this :
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Put the amount of SBD you wanted to withdraw on Send. I intended to erase some letters/numbers from my wallet address for a little privacy.
Click "Get deposit address" button
Yes. Click that button and you will blocktrades will give you a memo to use for final transfer. Copy that link. It should look like this :
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Again, I intentionally erased the text for privacy
Go back to your Steemit Wallet and paste the memo.
You are one step closer. Place it as a memo as a final step to withdraw your earnings. For your guidance, it should look like this :
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Done!
Congratulations! You have completed the tutorial. Wait for a coupe of minutes and check your btc wallet address in your Coins.ph account. Then convert it to PHP, you can now withdraw your earnings! :)
Quick tip in Blocktrades
I'll give this as a tip for you to save your earnings from transaction fees in Blocktrades. Fees are always there as an exchange for the service they provided, and blocktrades has been serving us amazingly! Here's the quick tip :
The more amount you send, the lesser the transaction fee.
I suggest to keep your earnings first until it reaches around 100 SBD and up. 100 SBD is not even a breakeven amount for you to save some transaction fees. If you send large amounts, the transaction fee percentage goes down. That is the perfect time to use the service of blocktrades. overall in terms of convenience, blocktrades is the perfect site to withdraw your earnings!
Share this to your friends
If you find this blog informative/useful, please resteem this post. Our goal here is to guide the users (especially newbies) in terms of withdrawal of earnings. That will help them a lot, and I will really appreciate it if you do.
I also made a tutorial in Withdrawing your earnings using Bittrex.
If you wish to be redirected : CLICK HERE
Thank you Steemit friends! I hope you found it useful.
I would suggest ALWAYS using bittrex vs blocktrades. Blocktrades doesn't give a fair rate, and then you also lose money through Coins.ph.
This process can easily eat up 10% of your earnings. Not worth it, in my opinion.
What I would suggest instead, is using Bittrex>Bitcoin to a mobile wallet like Jaxx... Then selling on Localbitcoins.com
If you absolutely must sell faster, Changelly is still a better deal for Steem to Bitcoin, than Blocktrades.
And to @Jassennessaj if you would consider voting for me as a witness, I would appreciate it. I know you said you would before, but your vote didnt register :) Thanks!
_Rob
How do votes get registered? How will i know if a vote did go through?
Very informative mate @jassennessaj, Can I ask a specific question mate? Who has a biggest charge? Bittrex or blocktrades?
Hi @philiparniebinag! I'm glad you asked that, cool question. As what was mentioned above, blocktrades is best when trading large volumes of Sbd/Steems, if you trade at around 200 up tokens, Blocktrades works best.
One thing : I am now starting to use blocktrades because of its help to our community. @blocktrades finds quality content and underrated post. He is exceptional 😊
absolutely blocktrades is amazing!
Extremely amazing!
@jassennessaj Excellent post and very informated i was searching such a topic.
Bundle of thanks you are doing awesome for steemit community !
Happy to help 😊😊 All the best mate. Hoping you can share that 😊
thanks for sharing this i havn't earnt anything i can take out yet but good to save this !
No worries mate :) You can always use that since the transfer process for blocktrades will never change 😊
how good is the conversion rate like do they convert on latest Steem/BTC value or an average of last day. Just curious
Yes. Its follows the current value of Steem/Sbd/Btc.
Minus some CRAZY high fees. :-/
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STOPDono why I can’t withdraw
I have used Blocktrades and it was pretty good.