Since the first day on steemit I was looking for a complete guide, and since no-one had any, here is mine.
- SBD to BitCoin
This one you have probably seen a lot. I have checked the reviews of different sites and the one that seems to be the most legit is Bittrex. This is simple and easy. It's a stock market after all. Register easily at bittrex and that's all you need to do. Once you have an account there you can go to the wallets tab and search for SBD. This should say zero.
You then press the + sign and get a popup of an account and a memo. (Or it might say generate new memo).
Next you go to your Steemit Wallet and choose to trasnfer your money.
Copy paste the information bittrex gave you and press submit.
Let me explain what this does. It sends your funds to the steemit account. This gives that account the right to keep your money if they want. So be careful. They get a lot of commission so I don't think they will ruin their business for a bit of SBD. Now all you have to do is wait for the money to get transfered. (Takes a while)
Now it's plain stock market. Go to their BTC-SBD market and sell or buy. I usually sell for a lot fewer money than the last price since we are talking about less than cents and I don't like waiting.
That is it. You now have Bitcoins instead of Steam Dollars. And you can even see that SBD are more expensive than real dollars.
- BitCoin to Cash (not recommended)
This is a train wreck. Honestly it is disgusting how much there is to do. And don't expect your money immediately. Expect it in a few days time. Are you ready? No, you are not. There won't even be images since I don't want to repeat this process.
I've searched for an engine that exchanges btc for cash and the only one that is "free" and not peer to peer is CoinBase. However there are a lot of problems with this site. Lots of people complaining. I did give it a try. Create your coinbase account, and register all the things it asks. Go to the wallets and press the Bitcoin wallet to get the info. Go to your BTC wallet on bittrex and press the - sign. Fill in the blanks. After 30 minutes or more (can even take days) and a lot of network confirmations, the btc gets transferred. Then you need to convert it to your Euro Wallet if you use euro. I don't know about other currencies. By the way while you are doing this exchanges coinbase takes a lot of commission. Then once you have money in your Euro Wallet you need to send it to your bank account. Which has to get verified by sending their SEPA account money. Then you might get your money. Nothing is clearly explained and nothing is certain. That is why I say it is not recommended. I am now trying to verify my bank account and I don't know if I personally have to go to the bank and sent a payment or there is a button I am missing. If someone can help me on this part I would gladly appreciate it.
So, as I showed you getting bitcoin is easy, from there on is a matter of trust. I don't trust easily and I don't have the time to completely work around CoinBase. Bittrex, on the other hand, is easy and almost immediate. I hope I helped someone that feels lost, please if you have any questions do ask me and if you have any advise, most definitely tell me!
Once again I am Tsinik and I hope my content was helpful. Goodnight