Hope you steemians earned some assets till now ,which you get paid from Steemit Contents, Now your next thinking is that how i cash out my earnings whether it is SBD ( Steem based Dollar ) Or Steem crypto currency to buy stuffs and goods in real world. In this article i will try to clear how to cash out ? So here we go . . . . . . . .
The smallest and quick approach is that go and find some trusted person who will buy your steemit coin or SBD and paid your FIAT currency. This might be luckily happen as most of the person deals with bitcoin today. Lets try other methods to cash out.
Steps to be followed :
1)Create wallet in one of the reputed exchange which deals with Steemit or SBD. You will find your preferred exchange in the given below Picture.
2)Sign in into your Exchange , Under DEPOSIT/FUND/WALLET section , Search STEEM or SBD and click deposit. You are advised to generate a memo for this transaction , click on GENERATE. A DEPOSIT MEMO will appear, You should copy it.
( I used Bittrex account )
3)Now on steemit account Go to the Wallet>Steem Dollars>Transfer
4)You will see the following page .
In “TO “ box put the name of your exchange ( I used Bittrex ) in which you create your account. (Refer Step 1 ) Eg poloniex binance bittrex.
5)Under amount section , Enter the amount of STEEM or SBD that you want to transfer eg 5,10,50.
6)In the MEMO box , Paste the memo code that you have got from your exchange in which you are going to deposit your steem or SBD. ( You got this from Step 2 )
7)As now you have done all the required steps , click NEXT and transfer the amount of Steem OR SBD to exchange from your Steemit account.
8)When your transfer is successful , Login to your exchange account . And sell your steem or SBD against BITCOIN.
9)Now your steem is converted into bitcoin.
Now use any method which converts your bitcoin into USD/INR and transfer them into your account. Use SKRIl, PAYPAL ,LOCALBITCOINS.
I suggest use www.localbitcoins.com
In the next article I will try to explain the working and how to sell/Purchase Bitcoin using www.localbitcoins.com
Hope this will help you. If my effort is worth something or at least help you to understand something. Please upvotes Resteem and comment what you like or not in this post.
Follow me if i deserve to be ! https://steemit.com/@tausifajmal
My earlier post that may be beneficial for you :-
How to sell bitcoin and get FIAT/INR using SKRILL.
