Long story short, if you post on steemit, you get bacon. Long story long, how I cashed out SBD and bought a bacon sandwich.
For the first time in my Steemit experience I used earnings from my blogging to make a real world purchase. It was a fantastic feeling. I still have some lightness in my limbs. It’s a real high. Since this was my first experience cashing out I likely paid more than was needed, and received less than I could have, while working harder than I had to. I have been wanting to cash out some of my earnings for a while now. I set up a couple of different wallets on exchanges and watched youtube videos about the process. I read blogs on #Steemit and decided that I wanted to do this weeks ago. It’s been a real rollercoaster watching the value of SBD crash, and now begin to climb again in the time since I started piling up SBD.
After reading many blogs about how to cash out I have to say, this post is for historical purposes, it’s meant to document a moment in time and should not be considered advice. This post IS NOT MEANT TO BE FINANCIAL ADVICE.
Among the wallets and accounts I used to buy a bacon sandwich with earnings from the steem blockchain the first was a CoinBase account.(I get $10 if you use my code)
CoinBase has an option to connect to your bank account. If I had a checking account instead of a savings account I would have been able to end this post here. Because CoinBase will not connect to a savings account I ended up going through extra steps.
When I cashed out SBD I used 
Once on blocktrades I chose to sell 15 SBD for 0.20956619 (25.80) LiteCoins. I had found my LiteCoin wallet address on Coinbase and copied it. Then pasted it into the LiteCoin field on BlockTrades, then clicked “Get deposit address” button. At this point the SBD is traded for Litecoin through BlockTrades, they take a percentage. SBD was being traded at 2.440 or so, which would have made the value of the SBD close to $36. So Blocktrades took about 4 SBD for their efforts.
Once the LiteCoins arrived in my CoinBase wallet I swapped them for fiat currency. At this point if I was a different sort of person, I would have been able to easily send the fiat to my checking account. Instead I traded the fiat $25.31 for 0.00324447 BTC BitCoins. Then I sent the BitCoins to an exchange named VirWox.
VirWox is an exchange site. You can deposit all sorts of currencies into their exchange then swap them for other currencies. I deposited my BitCoins into their exchange, then swapped the BitCoins for SLL. After that I swapped my SLL for US dollars and asked VirWox to deposit the money in my Paypal. $20.56.
For those of you who are following along closely you will have noticed that what was 15 SBD became $20.56 USD in my paypal. For the final step I sent $20 USD from my Paypal to my Starbucks Card. Starbucks has an app which allows it’s users to place mobile orders using their membership card to pay, I ordered a Double Smoked Bacon sandwich.
SBD becomes bacon, and the world is a better place because of blockchain technology.
Thanks for reading this far!
If you enjoyed this post you may like one of the other blogs I have written.
You can find them here, or here, or here.
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