I just posted about how I used my Steemit earnings to buy a guitar and I also paid for my Steemfest trip with what I made here. I just wanted to clarify how you can do this sort of thing. In order to spend cryptocurrency in regular shops you need a debit card that uses some form of crypto. There are several that use Bitcoin, including Bitwala and Xapo and others. Some of these have restrictions on what countries cardholders can be in. I don't think Bitwala can be issued to the USA, but there are others that can. Some US states are putting restrictions on companies that use cryptocurrency, so check to ensure you can actually get one with each company.
These companies will also have a set of fees for various actions such as adding funds to the card and ATM withdrawals. I'm prepared to pay something for the convenience I get.
If you have a Bitcoin wallet then you can use that to transfer funds. You could use one of the various exchanges to sell your Steem. A few sites off a direct transfer from one currency to another. The ones I've used are:
Changelly, @changelly on Steemit. They don't seem to offer Steem Dollars at the moment. They do have an affiliate scheme, so you can earn something if you recruit people. I'm using my link here.
Blocktrades, @blocktrades on Steemit. They have Steem and SBD right now.
You will notice they offer slightly different exchange rates. I tend to check both and use whichever is best at the time. They each charge a fee and so larger transactions tend to get a better rate. Each will ask you for a destination wallet address and will then give you a memo code. You then have to make a transfer to the appropriate Steemit account with that memo. Bitcoin transactions seem to come through in a few minutes, but it can vary depending on what is going on generally.
I've used both of these to transfer hundreds of Steem and had no problems. You just need to triple check you have the correct addresses and code. I've heard of malware that changes Bitcoin addresses you copy and paste. I hope I don't have that, but I still check it pasted correctly.
Maybe someday someone will offer a direct Steem to cash solution, but this is the best alternative I've found so far.
Steem on!
I'll buy guitar picks for Steem Dollars
Convert Steem to Bitcoin (and others coins) using Changelly.
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thanks alot for sharing with us!
just my experience go to blocktrade and excange to dogecoins then dogecoins to btc in any other place even poloniex/bittrex and will receive like 20% better rate
Interesting. The Steem to btc rates I've got seem close to the market rates. Does it just work with Doge?
just try steem to doge and then to doge to btc in poloniex/bittrex or other . Doge is good because fees are less than 1 cent.
I'd not seen Cryptopay. I know there are other ways to get cash, but the card is convenient and the fees are not too bad. All these services will take some fees. It's really just the last step that is different. I may not get the optimal rate, but it seems fairly good.
Yeah I take a similar approach. In total I think I lose about 3% in total, not too bad I guess. Do you think it's similar with your card? Am thinking of getting one because it takes a while for the cash to hit my bank account.
Probably something similar. I've not worked out the exact ratio, but it seemed reasonable to me.
this is definely something I need to look at. :)
Others have come up with interesting alternatives in the comments. People need to be confident they can withdraw when they need the money
nice post i like this worof Convert Steem to Bitcoin (and others coins) using Changelly.
Great information! Thank you for sharing. I haven't taken anything out yet. If I need to at some point, this info will come in handy.
I don't like using Blocktrades. I prefer bittrex they offer way better ratios.
Thanks a lot, helped to figure it out. Very cognitive article.
steemit changing the life around its great to see :) thanks for sharing this
This is really very useful info out there man! Well i have not withdrawn any till now , i'll keep on building for the time being, but i'm bookmarking this page as it will be very handy one day!
Great stuff I'll check those debit cards out.
Did you buy the guitar you went to see a week or so ago?
I did buy one of those I tried. Very happy with it
Nice work 👍🏼👍🏼
Very useful information, thanks @steevc
Thanks for the information Steve this will come in handy when i choose to make a withdrawal but that won't be any time soon, i plan to just keep going for a few years
By then you could have a small fortune :) I have done pretty well. Just keep building your account and it will come
Chanelly and shapeshift both charges a large amount of transaction fee, I am very happy and satisfied with blocktrades.
They charge something too. Sometimes I think I can get more via Changelly
I never had good experience with changelly.
Anything specific? It's worked for me
They charged me 1$ for 5$ worth bitcoin conversion.
Well the charges are less (as a percentage) on a bigger transaction. Bitcoin has a transaction fee anyway
i love the rate of changelly its really low they were exchanging sbd first idk why they arent doing right now @changelly can u please tell us abt sbd to other exchange ?
I think Blocktrades still do SBD.
sir changelly was giving great rate blocktrade is cutting many more than changelly :/
The rates vary all the time. That's why I check both
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