When anyone join steemit platform a very common question arises in mind how we will withdraw and transfer our earning in our bank account.
Very first thing I would like to say one should not worry about withdrawing hard earned earning from here, as it is a very transparent and easy process. Rather newly joined member should work hard and smart to create valuable content for others and try to build strong relationship with other fellow like-minded steemians.
Try to grow yourself and make strong genuine follower base and keep posting good original content on regular basis. One should not think to withdraw funds at early stage as whatever you earn will help you to grow fast here.
Once you created a good account value and need any fund for your use then only think to withdraw a part of your account balance.
Here I will try to explain step-wise procedure to transfer your earning in your bank account.
Here in steemit we get rewards in cryptocurrency and value of your account changes due to current steem rates in the exchange.
Step 1. Open account in exchanges.
(a) Open an account at bittrex and complete enhance verification and two-factor authentication as guided in the site.
(b) Open another account in your local bitcoin exchange which trade in BTC and your local currency. Being in India I opened account in Zebpay . Only mobile version available for this exchange so download in your smartphone, open your account and complete your KYC, it takes one or two days.
When your both accounts are ready, you can transfer your steemit reward (liquid steem and SBD) to your local bank account.
Step 2
To start tansfer first you have to transfer your liquid steem or SBD to bittrex exchange, for that login to bitrex.com click on wallet and search for steem/SBD
Click on (+), new window will open. Copy memo and address from there.
Now go to your steemit wallet, open transfer window and fill the details ( address, amount and memo) and submit.
Within few minutes it will reflect in your bittrex wallet. Now click on B Exchange as shown in below screen shot. Search for steem and click on steem.
New page will open.
Go to sell steem section fill details and click on -sell steem. Order will be placed. Wait for order to be executed, it may complete immediately or may take few minutes.
Once order is executed BTC will reflect in your wallet. Go to wallet and check your bitcoin balance.
Now this bitcoin is to be transferred in you local bitcoin exchange, for that open login your local bitcoin exchange and open receiving bitcoin address, copy that address.
Again go to bittrex wallet and click on (-) at bitcoin, new window will open.
Fill receiving address of your local exchange and click on withdraw. A mail will be received to confirm your withdrawal
This takes few minutes to few hours to transfer from bittrex to other exchange.
Once it is transferred bitcoin balance will reflect in zebpay( local bitcoin exchange in India, there are other exchanges also other than zebpay).
Sell your bitcoin in that exchange to your local currency and received amount can be transferred in your bank account.
This all process takes maximum 1 working day.
Best of luck for your steemit journey!