Purchasing/Selling Steem Dollar with Blockchain.info

I would like to make a tutorial how Blockchain.info able to be used for Steem Dollar(SBD) , Steem or Steem Power.

What is Blockchain.info?

Blockchain.info offers services in bitcoin cryptocurrency online wallet. Blockchain.info has been running since August 2011 and their headquarters is in Luxembourg.

Steps in Buying Steem Dollar, Steem or Steem Power

1. Go to your Steemit Wallet . Click on the Steem Dollars drop down.
   

2. In drop-down you select Buy , after that you will be redirected to BlockTrades
   

3. In Block Trades change Steem Dollar to desired value for example 200 Steem Dollar, it will auto compute the total BTC to be paid. After that provide your steemit username and then press Get New Deposit Address.
   

4. Go to your BlockChain.info (https://blockchain.info/) . In your dashboard click Bitcoin
   

5. Click on Send Button
   

6. You will be re-directed to a new page (Send Bitcoin Window).
   

Fill-up the following :

• Select first your BTC wallet
• Put address given by Block Trades for deposit
• Put the same amount of BTC in Block Trades
  Once all of them are done click on Continue button .

When you check your Steemit account you will see that what you have purchased has been credited to your account.

Steps in Selling Steem Dollar, Steem or Steem Power

1. Get your Blockchain.info BTC Wallet , click on Bitcoin
   

2. Click on Request Button
   

3.After that a new window will appear, please copy that bitcoin address which you will need it for BlockTrades

1. After that you go to your steemit wallet , click Steem Dollar
   

2. Select on Sell
   

3. After you have clicked on Sell you will be redirected to BlockTrades.
   

Fill the following :

• Input your desired amount to sell
• Put your address (The address that you have copied in Blockchain.info)
• Click on Get a new Deposit Address

After you have clicked the button you will see the following :
Account Name : blocktrades and Memo generated , take note of that memo.

Following instruction after that can be found in the lower sector , as for this example i will do the following :

"Note: each deposit will incur a fixed fee to pay the Bitcoin transaction cost (current fee: 9.266 SBD). You should send at least 5 times (46.33 SBD) this amount to get a reasonable exchange rate."

All you need to do is transfer your SBD to blocktrades and then put the memo generated. Do what is instructed , for example i need to send 5 times worth 46.33 SBD . Put memo before you send.

Advantage of using Blockchain.info

• Very convenient an easy to use.
• Manageable online

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Posted on Utopian.io - Rewarding Open Source Contributors

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