@blocktrades - I have always wondered about the best way to convert my Steem to Fiat. As you have correctly pointed out, the transaction fees for bitcoin are so high that I have been looking for alternate ways. So far, I could not find any suitable exchange though. I believe CEX.IO allows trading in ETH-USD. Am planning to check that out.
Am wondering if it would not be possible for Blocktrades to provide the service, at a fee, to convert SBD to USD/Euro?
Thanks for this update. It is really addressing a topic of general concern for a lot of newcomers.
Regards,
We've recently started looking into what it will take for us to support sending USD/Euro. The primary issue is we will need to obtain a money transmission license and set up the necessary software to support KYC/AML requirements for such transactions.
@blocktrades - Yes - I imagine that some form of financial control authority will then get involved. That is not so good for a decentralized currency based platform but I guess if the influence is kept limited then it would be a great service for Steemians to use
I am a relative newcomer to Steemit and am still trying to learn a lot of things. Therefore, I may not understand all the issues that you experts understand but I surely appreciate all the efforts you are putting in for providing support to Steemit in various ways. Kudos.
I am so happy to be interacting with the legendary @blocktrades. Us newbies can only hope to catch a glimpse of you sometimes and count our blessings if you happen to see one of our blogs. :)
Cheers. Wish you a great day.
@blocktrades service is always impeccable @vm2904
Aren't there several exchanges trading ETH-USD and LTC USD? At least I have used Coinbase to buy ETH and LTC with Euros and it would be quite odd if they didn't have the equivalent USD pairs.