Hi pal and fellow steemians. It has always been in my vision to help the up coming minnow on areas they may have not understand or look as a mystery to them without full knowledge.
I start with this adage that says: WHEN THE BENEFIT OF A THING IS NOT KNOWN,THEN THE ABUSE IS UN- NEGOTIABLE .
Many of a truth know that steemit do pay for post which can be converted into cash through some processes which am about to make know to you today. Your post are been paid in two form SBD(steem dollar) and Steem power. Let me explain them to you and the benefit they are to you when you have them.
Steem: it is a cryptocurrency just like bitcoin. It can be power up and down, traded to SBD.
SBD(Steem dollars): this is what you can trade on in crypto market and can be converted to other crypto coin of your choice. Site to trade SBD are: bittrex,blocktrade.us,blocktrade etc.
Steem power: As the name is,it shows how much influence you are on steemit. The amount of steem power you will decide your reputation and how powerful your upvote will be on a post. Having about 200,000 steem dollars can give an upvote at least 1$ to a post.
HOW TO EXCHANGE STEEM/STEEM DOLLARS TO BITCOIN ON BLOCKTRADE.US
Blocktrade.us is a third party which help steemit user to easily exchange steem and sbd to bitcoin,because it is a digital currency exchanger platform that help you exchage your steem/sbd into bitcoin,dash,ethereum,litecoin etc. I love to use it because they are fast in processing transactions.
Login into your steemit account homepage click on wallet and move your down to steem or sbd depending on the one you have or the one you want to exchange.
Let say i choose sbd,click on it and select sell
You will be directed to blocktrade.us homepage to complete the process
On blocktrade.us home page register with them to start up the process by signing up. After that login on your blocktrade.us site login with your full detail to start.
You will see an option like send,click on it and choose the cryptocoin you want,never forget we are using sbd for our example. Choose sbd and also input the quantity of sbd you want to exchange.
You will see the receive option select the coin of your choice you want to exchange your sbd to. I will be exchanging the sbd into bitcoin.
Study those arrow very well,they are explaining the process for you. As you can see in the picture above 100 SBD will give us 0.01776874 BITCOIN as at now. The reason for this is because bitcoin is more higher than SBD. 1BITCOIN worth 46738 and one STEEM worth 1.11.The next option is the receiver address, before now you should have copy your bitcoin wallet address so as to past it inside the receiver address. Your bitcoin wallet address is a combination of numbers and alphabet. Look at the pic below
To get that login on your bitcoin app or website click on receive you will see it there and in case you dont have one,i suggest you download one on playstore for andriod users and blochchain is the best.
- Click on pay to get your sbd transfer to your bitcoin wallet. My next post on this will be on how to convert your bitcoin into cash. If this post have help you, kindly drop your comment for feedback.