How to Sell Steem and Steem Dollars to Bitcoin in Bittrex- Steem is blockchain database that supports community development and social interaction in exchange cryptocurrency. Steem combines the concepts of social media with the lessons of the building cryptocurrencies and their communities. An important key to inspire participation in any community, currency or free market economy is a fair accounting system that consistently reflect the contribution of each person. Steem is cryptocurrency first to try to accurately and transparently in exchange for unlimited number of individuals who contribute to the community subjective.
Steem is the basic unit of account in blockchain Steem. All other tokens are getting value from the value Steem. Generally Steem should be held for short periods of time when liquidity is needed. Someone who wants to enter or exit the platform Steem will have to buy or sell Steem. After Steem have purchased it should be changed to SP (Steem Power) or SMD (Steam Dollars) to reduce the impact of retailing over the long term.
Steem Dollars designed as an effort to bring stability to the world cryptocurrency and individuals using the network Steem. Steem Dollars created by a mechanism similar to the convertible notes, which are often used to fund startups. In the startup world, the convertible notes are short-term debt instruments which can be converted to ownership at a rate determined in the future, usually during a round of funding in the future.
For those of you who do not know how, nor Steem Steem Dollars, can be traded on the external market as in Bittrex, Bitshares, and in Poloniex. Turns Steem and Steem dollar could be traded also in the external market, if you already have a good balance in the form of Steem (Steem), and Steem Dollars (SMD), then here is How To Sell Steem and Steem Dollar Into Bitcoin in Bittrex.
- If you do not already have an account with Bittrex, first you have to register first in https://bittrex.com.
- Verify the email, by clicking on the link dikrim by Bittex to your email.
- Next, please log in to Bittrex
- Click on Bittrex Wallet menu, then Search "Steem". Then will come Steem and Steeam Dollar Wallet.
- Please Click the "+" in cryptocurrency Steem Dollars (See Figure Above)
- Then will appear as shown below, please click New Address, Use and Registered Memo Acct to process the transfer of Steemit wallet.
- Then open an account Steemit you, then open the Wallet.
- In Steem Dollars, click on the balance, and then click Transfer
- Next, Enter and Registerd Memo Acct from the Generate New Address in Bittrex earlier. Determine the value transfer (Dollars Steem amount to be transferred). Then click Transfer.
- When finished, wait until it locks into Wallet Steem Dolllars in Bittrex, if it has been entered you can trade them by selling to BTC? (Bitcoin), or Cryptocurrency the other, as you like.
Thus tutorial on How to Sell Steem and Steem Dollars to Bitcoin in Bittrex, may be useful for those of you who have an outstanding balance or Steeam Dollar Steem you get from Steemit!