How to convert HBD to Indian Currency , Full Documented Process : Learning Journey 4

[prashantkf]

Today was a day of learning, finally was able to convert Hive Dollars to native currency INR.
It was the first time, and it was worth it, here is the full process:

For this, we need to create two accounts. ( Android Apps Available )

1. Bittrex Global ( https://global.bittrex.com/ )
2. ZebPay ( https://zebpay.com/)

Both accounts must be verified first before continuing.
.1 Bittrex

1. ZebPay
   

Step 1, how to transfer HBD to Bittrex?

It can be directly sent from your Hive wallet, steps followed:
-- Click on the down arrow against your Hive Dollar balance and select transfer.

-- Amount need to be sent to Bittrex

-- You must include a memo, it will be obtained at Bittrex app.
-- Go to the Bittrex app, tap on holdings, and select deposit.

-- Search HBD from the list of other cryptocurrencies

-- Copy the memo from there.

-- Copy-paste the memo in the Hive wallet and transfer the amount.
-- It will be reflected here in the holding tab( Bittrex app)

Step 2, how to convert HBD to Bitcoin?

-- Click on Market, select HBD

-- Click on sell and if you want to sell at the current market price, select the market and enter a quantity.

-- It will convert HBD to Bitcoin. Check it in the holding tab.

Step 3, Send Bitcoin to ZebPay

-- In holding Tab, Click on withdraw
-- Need to enter the Wallet Address & Amount

-- Open ZebPay, Select BTC

-- Click on receive, copy the address and paste in Bittrex app.

-- It takes some time for it to reflect on Zebpay

Step 4, Convert Bitcoin to INR

-- Again select BTC, click on Sell ( Selling BTC to receive INR )

-- INR will be reflected in the balance, You can now withdraw the amount ( After entering Bank Details)

I hope someone will find it helpful. There is a fee involved when you transfer BTC from Bittrex to Zebpay.

Thanks
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[bala41288]

Hey hi. Just wanted to give a heads up. This is not a wise way to withdraw. If you use BTC to move from one wallet to another wallet, you will end up spending a lot in fees. You can use small cryptocurrencies like Tron to move from one exchange wallet to another.

In addition to that you can also use Binance to convert your funds as INR. Peer to peer way to do it because we still don't know the government stands on Cryptocurrencies. But never move funds directly as BTC or ETH. You will end up in loss.