For the first time ever I have tried to convert what I have in my Steemit account to Bitcoin then to the currency I need to transfer into my bank account using Poloniex and Coinbase. I followed these very helpful instructions courtesy of https://steemit.com/steemit/@illidans/how-to-cash-out-your-steemit-dollars-to-usd
I really needed to do this as I am scrapping the bottom of the barrel and need to pay the rent, so I converted all I could take out of my wallet carefully following illidans very helpful instructions. However, when I got to setting up my Coinbase account, my situation is that I live in Ecuador and my bank account is in the UK, so I had to upload my passport ID to get my authentication (as you cannot transfer cryptocurrency to USD money when you are in Ecuador), so I gave my UK ID and bank details, unfortunately because I am a novice at this and it's my first time ever working with cryptocurrency, I made a conversion 0.01265329 BTC in Poloniex which I then transferred to Coinbase that left me with Bitcoins worth 5 British pounds, adding that to the first test run, a grand total of 8 British pounds from the original 130 Steem dollars
So, I hope this post will help help others not make the same stupid mistake as I have today. I have made a huge loss it seems and need help from experts to explain why 130 Steem dollars converted to 0.01265329 BTC which then turned into 5 British pounds after converting it from Steem dollars to Bitcoins then transferred to my new coinbase account.
If any geeks out there have advice, I could sure use some, as I just don't understand why it has converted to so little? So after following it is now only worth 5 British pounds, so if anyone can explain what I did wrong I'd love some help, what should I have done differently to have got the most out of my Steem dollars? I must have done something wrong? thanks for your attention