As a new Steemian, I often look at trending posts about Steemit' and Crypto Currency and feel very out of my depth. Thanks to people like @davemccoy I am slowly but surely learning to navigate my way around and understand some of the jargon.
When first attempting to buy Steem', by following the link in my wallet, I discovered that, I could only purchase it using Crypto Currencies. Following advice, I opened an account on Coinbase, which I have yet to use, but I don't know yet, how to link it to my wallet, so I can convert other currencies into Steem'.
With Each Answer, Further Questions Arise
So Here's My Question
I'd rather risk looking foolish, than not find out the answer, besides, I'm sure there are others like me out there, who have questions that they're afraid to ask at risk of looking stupid.
So here's my question:
Is there a way of buying Steem, using good old fashioned cash in just one easy step?
For all of us out there, who have yet to accrue a Crypto Currency portfolio and have never been involved in investments or trading until now, could adding an option in the wallet to purchase Steem using Sterling or Dollars (or other traditional currencies), be a possibility for the future?
Exchanges that allow cash in, and crypto out are the exchanges that require the highest level of verification and now the approval process is taking weeks or longer due to the flood of people trying to open new accounts. Coinbase should allow you to purchase low amounts of crypto that you could then transfer to buy your Steem. The process seems very intimidating the first time, but it is actually quite easy, I would recommend transferring a small amount like $1-10 so you can master it, before spending large amounts.
If you don not already have an account that is approved to deposit dollars, sterling or other fiat currency. My recommendation would be to find a friend who already does and give them the cash for them to buy it for you. There are peer to peer services that will do this for you but the fee's tend to be high... If you only want to test the waters with buying a little Steem I would just find a friend that could buy $100 or so of ETH/BTC/LTC for you and transfer it your your Steemit account.
Goodluck!
That's really helpful, thank you. I've bought £10 worth of Etherium on Coinbase now and am just looking into transferring it to Steem. I think they're a bit overloaded at the moment, but your comments really helped.
@originalwork
@davemccoy is a great guy! I have learned a lot from him, and he really makes an effort to help others. I have recently received my first bits of steem dollar, and I also find myself wondering which currency exchanges are the best, with the lowest transaction rates, and lowest transfer times. I think I'm likely making it more complicated than it actually is. Coinbase seems to be one of the most popular. At the moment, I am wondering which has the best value for trading steem dollars for steem power, if not Coinbase. Thank you for the article @looksfarwoman I will be sure to follow you!
Thank you. I find crypto currency really confusing, but I try to learn something new every day. Taking my advice about crypto currency, at the moment, is probably like asking Justin Beiber about opera. That said, I am putting together some simple guides to Steemit, based on the mistakes I've made so far. 😉