This is the last part in a short series where I discover how a newbie like me can easily convert steem dollars to cash. To my amazement this was really straightforward and should be doable for everybody. The future is bright :-D
In the previous article I explained why and how to convert the steem dollars to litecoin. The last challenge is to convert the Litecoin to real cash, in my case Euro.
To do this my first choice was btcdirect but they required a minimum of 1 Litecoin, which I don’t have. I used the services of Litebit because their minimum is 15 Euro. You only need to register and give them your phone number for this small amount. Once registered simply go to sell and fill in the following form. The return address is the address of your wallet. Sorry for the screenshots in Dutch. I didn’t pay attention. The website is available in English as well.
Next you get 15 minutes to transfer the Litecoin you wish to sell to their address. Notice this screenshot was taken after the transfer. Hence the green box at the top.
Now go to the wallet and transfer the amount. The slight difference is because I have been playing around and the screenshots were not all taken at the same time. The amount fluctuated a bit.
Eventually Litebit and my wallet both confirmed the transaction. Next was the scary moment. The coins are gone and there is nothing on the bank account. They do bank transactions at 11:30 and 16:30. But nothing happened. To make things more scary they sent an email in the evening that some of their services were hacked (see this story). They detailed that no coins were lost but email, hashed password, phone number, etc were compromised. Not a nice first experience. My trust is gone immediately. I also sent a report request before but haven’t got an answer after four days. It just shows how important it is to use different passwords for all these different services.
This morning however:
The money was on my bank account!
It was all easier than expected and shouldn’t scare newbies. I hope this series helped you out a bit in your own discoveries.
Now, what shall I do with my first earned crypto bucks?
Congratulation for ur cash
Thanks. It's a bit hard to find the info. But in the end it turns out to be quite easy.
Nice to see your cash.
I believe in crypto, but being new it gives a very reassuring feeling.
yes. crypto has a bright future ahead.
@jefpatat got you a $8.01 @minnowbooster upgoat, nice! (Image: pixabay.com)
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Nice! Well done!
"Now, what shall I do with my first earned crypto bucks?"
Reinvest into new hardware to churn out some more ofcourse! ;)
I'm already doing so -> Gridcoin. Check my other stories for more info.
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