Steem is still like a secret project as hardly anyone knows about it. I have no idea how to trade Steem back to money and it isn't important for now. One day it would be nice to test though and then I think the reality of what we have here will hit home.
You are viewing a single comment's thread from:
I have never traded into fiat but I hear it is possible :D
It's not too difficult...Once you get used to it.
The simplest but not the cheapest way to exchange your STEEM for fiat is to use Blocktrades from the Steemit.com interface to first transfer your STEEM into BTC in a wallet held one your phone. The you can go to a Bitcoin ATM and transfer the BTC to the ATM from your phone wallet. You'll have to pay higher than normal fees every step of the way but there will be fewer steps and no bank as a middleman.
The cheapest way is to create an account on any of the major exchanges where you can trade STEEM. What you do is go to the exchange and follow the instructions. You make a transfer to the exchange's Steem account with a memo they give you. Then you go to the exchange again, trade your STEEM for BTC and send the BTC to a local exchange and sell the BTC for fiat they send to your bank account.
There is yet another way to buy STEEM. Not everyone knows that you can buy Steem Monsters cards with a credit card or PayPal. Naturally, the cards can be sold for STEEM. That's how one Nigerian fellow bought his first STEEM.