The cheapest way to buy Steem

in #steem6 years ago

Disclaimer: I cannot grantee that this is the cheapest way there is out there. But from all the people I talked to and my experience with crypto this is the cheapest way to get Steemit using reputable and trustworthy websites.

So you have € or $ in your bank account and you want to convert them into Steem! Here is a step by step of the cheapest way to do so: You have to buy Bitcoin first...

Buying Bitcoin with € or $

  1. Create an account on Coinbase if you don't already have one
  2. Now that you have a Coinbase account you will want to buy Bitcoin, the best way to do so is to make an international Bank transfer to Coinbase (Assuming your bank offers free international transfers)!
    Using a credit card to buy directly from Coinbase will be way more expensive than depositing.
  3. You made your deposit and it arrived on your Coinbase account, now you'll need an Coinbase Pro account (Don't worry it is free).
  4. Once you have you're Coinbase Pro account set up, go ahead and transfer your € or $ from Coinbase to Coinbase pro.
  5. You now have your € in your Coinbase Pro account. Click on BUY and go to the LIMIT tab, insert a value 2 cents bellow the current Bitcoin value. Here's and image of how you should do it:

Untitled.png

As you can see I you place my limit buy order at 5594,02 € because the current price is at 5594,04. Now you wait for your Limit Buy order to be filled.

Once it is filled you'll have Bitcoins in your Coinbase Pro account instead of € or $.

Buying Steem with Bitcoin

DON'T USE BLOCKTRADES! It has a lot of hidden fees! Just so you can understand here is an image of how much you would receive for 0.1 Btc on Blocktrades :

Blocktrades.PNG

  1. Create an account on Binance (It is a well known and trustworthy exchange house for cryptos).
  2. Withdraw your Bitcoins from Coinbase Pro to your Binance account. (Takes around 45 minutes).
  3. When your Bitcoin arrive, you open binance ---> Funds tab ---> Balances ---> Search for Steem ---> Click on trade and select STEEM/BTC.

Binance.PNG

You will find this box on your screen, here you can type the amount of BTC you want to trade for STEEM!

On Binance you would get 879.49 STEEM for 0.1 BTC (There is a 0.01 STEEM fee when withdrawing)
On Blocktrades you get 860.23

So you just won 19.26 STEEM by using Binance instead of Blocktrades!

Now all you have to do, is withdraw the STEEM from Binance to your STEEMIT account, which takes no longer than 5 minutes to do so.


I hope this is useful for anyone who is interested in buying steem in the near future, if you know any better way to buy steem please fell free to share it in the commentaries.
Thank you for reading

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