Hey guys!
As many users are joining steemit from India, I decided to make full guide on how to convert Steem earnings to INR.
Many of you might be saying, it's simple as fuck! We don't need any guides but hey believe me when I was new here, I had trouble understanding how to withdraw Steem/SBD and get money in bank account.
So let's get started folks!
Things required
A poloniex account.(However, You can use any exchange that supports Steem/SBD)
A verified Zebpay account.
Install it and register - use this code to get free tea : REF39814814
Now, open menu from top right corner >> verification >> verify your PAN card and Bank account.
Once your account get verified proceed further.
Depositing SBD To Poloniex
Note : This process applies to anyone looking to convert their SBD to BTC.
Go to https://poloniex.com and login to your account >> Menu >> Deposits and Withdrawals.
Find and select "SBD" from the list - click on deposit. Now, You will get deposit details.
Go to your account on steemit >> Wallet >> Steem Dollars - It would show up a drop down menu select "Transfer".
It will pop up a form, fill in the details which you got above and click "Transfer".
Once you get the SBD in your poloniex account , convert it into Bitcoin.
Go to poloniex exchange tab >> Select SBD from the list and place sell order.
Now, to convert your Bitcoins into INR, you will have to withdraw your BTC to Zebpay wallet, to do so.
Converting BTC to INR
Go to poloniex >> Menu >> Deposits and Withdrawals.
Select BTC from the list. Click on withdraw.
Input the Zebpay bitcoin address in first field and amount you want to withdraw in second.
To get Zebpay address :
Open Zebpay app, open menu from top right - select my address and copy it.
Now, go back to poloniex.
Fill in the details and tap withdraw.
Now, wait until transaction get confirmed on the Bitcoin network. (You can check transaction status on poloniex "deposits and withdrawals" or Zebpay "send and receive Bitcoins" section.)
Once it get confirmed and you receive money in your Zebpay wallet. You have to sell it first before you can withdraw it into your bank account.
To sell your Bitcoins click on "+" icon and select "buy/sell Bitcoins" option, then tap on "sell" tab.
Enter the desired amount to sell or select "sell all" to sell all available Bitcoins.
Once you sold your Bitcoins, you will get equivalent balance in your account, to withdraw it to your bank account...
Click on "+" sign again and go to "account" and select withdraw.
On the next page, enter the amount you want to withdraw and done.
You will get the money in your bank account within a day.
Exchanging Steem To INR
To exchange Steem for INR, process is same, just select Steem instead of SBD in the process.
Here is infographic on what we done so far.
If you have any doubts, suggestions or just wanna say hi, hit me up @libert on steemit.chat
Someone has copied your post. Here is a link to the copied post.
https://steemit.com/india/@balbhadrasinh/how-to-convert-steem-sbd-to-inr-and-withdraw-in-bank-account
This post received a 41% upvote from @randowhale thanks to @libert! For more information, click here!
Thanks @libert for this post.
Welcome mate!
@libert Thanks for this man! 🙌🏽
Welcome mate!
it's great to see steem all over the world~
awsome bro likked yoour ppost veerry muchh.......
Thanks bud, if you get any questions feel free to contact me :)
great article on cashing out steem in India. Upvoted :D
Thanks a lot :)
Nice post @libert
Thanks!
nice article, I'm assuming it's the same with unocoin :)
Never used unocoin so don't know 😋
This was an amazing guide. Thanks mate ! But it's a long process with multiple conversion jumps. I have raised a ticket in zebpay for direct support for accepting steem as a currency. Hoping they add it soon; then it becomes much simpler.
To avoid those multiple conversations use this guide: https://steemit.com/howto/@libert/how-to-convert-steem-sbd-to-inr-and-withdraw-it-to-your-bank-account-2017726t141049465z
And use ltc instead of BTC since its faster.
@libert Awesome post. I am a newbie in this field and this post helped.
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thanx dear but now my sbd are stuck in polo. what to do?
Sorry for that buddy, poloniex facing some problems lately and I think you should contact support. Best wishes
I have contacted them but they are not replying to me. Have you visited my posts?
Will visit your profile for sure.
So helpful man. Thanks a ton
what is minimum value of SBD to withdraw from steemit?
None you can withdraw any amount.
And I advise you to not to use poloniex now as it's been facing some problems lately.
Use blocktrades instead, I will post guide by tomorrow.
Hope that resolves your query.
thanks dude..
waiting for your guide!
It's up
Thanks for this post. Much needed and very informative.
@libert thanks for your information