There were many ways to withdraw your steemit earnings directly to your bitcoin wallet then convert to fiat. Today, I will show you what is the best way to Withdraw your Steemit earnings and why you should not do other way!
Poloniex is not Advisable!
IMO, I despise poloniex as it was known that Steem/SBD is not stable there. Today polo is good but nobody can tell if it still good later or tommorow. Steem/SBD deposit and withdraw will always work or they will disable again! There were many cases that polo offer deposit but no confirmation happened leading steem/SBD to limbo.
Although polo offer lowest bitcoin withdrawal fee to 0.0005 btc, still I am not at ease knowing the current state of bitcoin that when you send bitcoin and pay lower than 0.001 btc, it might result to bitcoin stuck up as I witness bitcoin clog due to lower transaction fee being send and making your bitcoin leaving to blockchain to 2-3 days more stay waiting to be pick up with miners. (not really recommended) comment your recent polo experience with Steem/SBD
Blocktrades is not recommended!
today, SBD is currently 0.00066 btc each, so 10SBD will be 0.0066btc, look how much blocktrades offer?
- blocktrades will deduct you with 0.002+ for transaction fee.
- the other problem I see with blocktrades is that they give 0.0005 for bitcoin transaction fee sending your bitcoin to your wallet. This will result your bitcoin staying long in blockchain waiting for miners to pick up!
- that picture above is an experience with blocktrades with 0.0005 transaction fee staying in blockchain for almost 2-3 days! you don't want to experience this aren't you
Hitbtc is not stable for Steem/SBD
- You can't deposit and withdraw to Hitbtc exchanger. It faced a problem similar to what happen to poloniex also! Wallet Disable
BITTREX (Most Recommended but be Cautious!)
Out of all exchanger for Steem/SBD, Bittrex is the most reliable but with caution!
(Teach me like 5 yrs old)How to Start Opening Bittrex Account!
I said used bittrex with caution, Yes because when you use bittrex and your account is not enhanced, you can't withdraw your btc there, so you must aware of this scenario.
- Open https://bittrex.com/
log in to your account, then allow your access by opening your email then confirm.
- I am expecting you already have bittrex account, but if you don't have, please register one.
- If your bittrex account is not yet verified, please verifiy it first before sending your Steem/SBD.
- for sending SBD, search SBD
click the (+) means deposit, COPY the memo, - Go back to your steemit Account,
- CLICK WALLET, then click SBD and choose TRANSFER
- fill up the form, then paste the MEMO you copy from BITTREX (always check your spelling, and check again, and again for sure)
- once your SBD arrive in BITTREX, CLICK the SBD symbol as shown above. This will lead you to BTC SBD conversion.
- you are going to sell your SBD here!
first, click MAX
then, click PRICE and CHOOSE BID
THEN click SELL, and CONFIRM!
withdraw your btc!
- CLICK WALLET in bittrex,
- CLICK the (-) symbol in BTC,
- Insert your BTC address and withdraw, CONFIRM THIS WITHDRAWAL to your EMAIL account!
i hope this will help you!
especially the new steemians here!