I found this post highly informative. Thanks for taking the time to write it out. One thing I noticed when I was poking around my very new account: there doesn't seem to be a way to withdraw or transfer anything out of the platform. For example, no withdraw button for Steem that would allow me to send funds to an external wallet, and no pathway to be able to send out Dollars that are gained from trading out Steem. Not that I just want to dump or anything, but I always like to know where the exit points are. Are they any in this platform? How can I find them?
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Exit points are through STEEM or STEEM DOLLARS. Note- you will need to set up an account at one of the Crypo Currency Exchanges (Bittrex or Poloniex).
Once you have your exchange account, you can transfer your STEEM.
You can find the feature under your profile menu: WALLET /. Once in WALLET, use the down arrows beside the balances, and select "Transfer". On the following page you will provide your account address at the crypto exchange (provided by the exchange). Enter amount to send and click "Transfer". You will received your STEEM or STEEM DOLLARS in your exchange account in a few minutes. Once received in your account at the exchange, you can then trade for bitcoin which then can be further transferred/traded for USD (or foreign equivalent). The process is bit convoluted right now, but I understand it will be much more streamlined soon.
The process is a bit convoluted currently, but I understand that soon it will be much more streamlined.
Thanks so much for that reply. It helps a lot. I think I understand now :)