Hello All
Been getting a few questions from friends and family about how to exchange STEEM to BTC using ShapeShift. Below is my attempt to show a step by step guide on how to do this:
Recommended actions before going past this point:
- Have a bitcoin wallet. If you don't have one, download a wallet on your mobile device or goto bitcoin.org and choose a wallet that is recommended there.
- Use browser tabs. Open one tab that your Steemit.com wallet is open and open another tab next to it that is on shapeshift.io.
Step 1: Goto ShapeShift.io
1.1 On the right, select STEEM under 'Deposit' and BITCOIN under 'Receive'
1.2 Select 'Precise'
1.3 Continue
Step 2. Enter the amount of STEEM you would like to convert to BITCOIN. Note, there are limits, and I think the current minimum is 5 STEEM
2.1 The BITCOIN value will be calculated automatically
2.2 Paste your BITCOIN wallet address in the next section
2.3 Insert your STEEMIT username for the STEEM return address (I am not sure that this is correct or necessary, happy to be corrected on this step)
2.4 Agree to terms
2.5 Start Transaction
Step 3: Open up STEEMIT.com > Login > Goto your wallet and select the drop down alongside your STEEM account > Select 'Transfer'
Step 3.1: You will have the order ready with a time limit to complete the transaction. Make note of the 'destTag as this will be used on STEEMIT during the transfer process for the transfer memo.
Step 4: In the 'TO' field, type: shapeshiftio
4.1 Enter the amount of STEEM that matches what you put in ShapeShift
4.2 Under 'MEMO', add the destTag in there
4.3 Hit 'Submit'
Step 5: Once you have complete the steps in Step 4, go back to the shapeshift.io tab and the status below the order will progress until your BITCOINS have been placed on the Bitcoin blockchain.
Tada.
I hope that is simple and straight forward enough. If there are any errors or clarification, please let me know in the comments section