Block trades is another way to go I think. I haven't used it but it looks like you can sell Steem/SBD into bitcoin. It's a decentralized exchange vs. centralized Bittrex. You can transfer either Steem or SBD, both can be traded to Bitcoin.
Thanks for your help. So you can’t trade Steem for cash at all? It has to go through Bitcoin first? I feel so way behind about these things. I do have a mobile wallet with some Bitcoin and some alt coins. Can I use that somehow?
Nope, you can't go directly from Steem to cash. Like most alt coins, you have to go through bitcoin first. I'd say try Blocktrades. It looks like all you need is a bitcoin address to send the traded Steem to. But I'd ask someone who uses Blocktrades specifically how well it works.
And, just as I woke up, I saw articles on here that Binance just started trading Steem this morning. That's huge news! I don't know if they're accepting new accounts but Steem is rising this morning because of it.
I found this post by Blocktrades. They suggest trading for ETH or LTC, if your ultimate goal is fiat, both of which I have in my wallet! I learned from experience about the high fees charged by Bitcoin already!!
Yes, I totally agree with that. When I transfer money, I always convert to LTC. It's cheaper and even more importantly, it's so much faster. ETH is great for that as well. Bitcoin is slow and expensive.
Block trades is another way to go I think. I haven't used it but it looks like you can sell Steem/SBD into bitcoin. It's a decentralized exchange vs. centralized Bittrex. You can transfer either Steem or SBD, both can be traded to Bitcoin.
Thanks for your help. So you can’t trade Steem for cash at all? It has to go through Bitcoin first? I feel so way behind about these things. I do have a mobile wallet with some Bitcoin and some alt coins. Can I use that somehow?
Nope, you can't go directly from Steem to cash. Like most alt coins, you have to go through bitcoin first. I'd say try Blocktrades. It looks like all you need is a bitcoin address to send the traded Steem to. But I'd ask someone who uses Blocktrades specifically how well it works.
And, just as I woke up, I saw articles on here that Binance just started trading Steem this morning. That's huge news! I don't know if they're accepting new accounts but Steem is rising this morning because of it.
Thanks! That may work! I do have a Bitcoin address on a mobile wallet. Then I still have to figure out the cash bit. Lol! Good news about Steem too!
Looks like Blocktrades has an account on Steem, so will try to find out as much as I can there.
https://steemit.com/blocktrades/@blocktrades/how-to-convert-steem-sbd-to-fiat-more-efficiently
I found this post by Blocktrades. They suggest trading for ETH or LTC, if your ultimate goal is fiat, both of which I have in my wallet! I learned from experience about the high fees charged by Bitcoin already!!
Yes, I totally agree with that. When I transfer money, I always convert to LTC. It's cheaper and even more importantly, it's so much faster. ETH is great for that as well. Bitcoin is slow and expensive.
So much to learn!