1. STEEM/HIVE is real money !
Many say STEEM/HIVE is more or less worthless, because it is "just" on the Blockchain.
But that is not true.
STEEM/HIVE is as worthy as BTC etc. or finally as fiat money.
You can transfer your STEEM/HIVE to online brokers/traders which deal in Cryptocurrency.
2. Cash out STEEM/HIVE to your bank account
There are two very good vendors that make it quiet easy, two convert STEEM/HIVE to real money.
I will introduce them tom you but also tell you to read to the end of the post, because there are some importatnt things to consider if you don't want to loose money.
The first vendor you can find here -click!.
This is a very good vendor because it support ~ 170 different crypto currencies and the fees to exchange STEEM/HIVE to other crypto currencies are quiet low.
The registration process is very easy, if you just want to sign up to exchange cryptos and to transfer them to other cryptowallets.
If you made it to STEEM/HIVE you will easily make it there :-).
If you want to exchange your cryptos into Dollars and transfer them to your bank account, the verification process is little more complicated but finally not harder then it is opening an online bankaccount.
The second vendor you can find here - click!.
The registration process is also very simple and you can easily connect your bankaccount.
Unfortunately this vendor does not support STEEM/HIVE so you will have to use the first vendor or any other crypto exchange supporting STEEM/HIVE to exchange your STEEM/HIVE to BTC, ETH, XRP, XLM or whatever.
3. There are some important things to consider
1. Minimum amount (starting at ~ $0,5)
There will be a minimum amount, if you want to exchange to other cryptocurrencies - depending on the currency, but
usually starting worth of ~ $2-3.
So with 10+ STEEM/HIVE you will for sure find some exchange pairs.
If you don't want to cash out to your bank account but stake or place your cryptos for some interest or even begin to trade, you will also find exchange pairs which do not require that much STEEM/HIVE (depending on the currency maybe a worth of ~ $0,50).
STEEM/HIVE have one big advantage: They don't charge any transaction/exchange fees (up to now). This is quiet unique in the crypto currency world, because most of the different blockchains finance their expenses by fees.
The first vendor I mentioned meanwhile is so sucessful, that it started its own Cryptocurrency some time ago and makes it easy to even convert "dust" into this token for quiet a low fee.
2. Fees
If you transfer your exchanged crypto currency tom other wallets or to the vendor I mentioned second, you will have to pay fees and this can be quiet high up to $5 per transaction or even more (especially BTC, ETH, USDT and further ERC-20-tokens running on ETH) - so if you don't want to loose to much money, best will be you have a amount of worth min. $ 100 before transfering.
3. Trading
If you start trading watch out, that the fees do not consume up your possible wins - otherwise the vendor will get richer and you will loose money - same with transaction fees: always check them first. There are even some vendors (not the ones I mentioned) charching fees if you transfer between your main wallet on the exchange to your trading, staking or saving wallet.
So watch out ! ;-)
Sincerly yours
@honolulu
click on picture! ;-)
