How to Sell Steem and Steem Dollars to Bitcoin in Bittrex

ksiaceh (41)in #steem • 6 years ago

How to Sell Steem and Steem Dollars to Bitcoin in Bittrex.

How to Sell Steem and Steem Dollars to Bitcoin in Bittrex - Steem is a blockchain database that supports community development and social interaction in return for cryptocurrency. Steem combines concepts from social media with lessons from building cryptocurrencies and their communities. An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects the contribution of each person. Steem is the first cryptocurrency to try to accurately and transparently reward the infinite number of individuals who contribute socially to the community.

Steem is the basic unit of account on blockchain Steem. All other tokens get the value from Steem. Generally Steem must be owned for a short period of time when liquidity is required. Someone who wants to enter or exit the Steem platform will have to buy or sell Steem. After Steem has been purchased it must be converted to SP (Steem Power) or SMD (Steam Dollars) to reduce the impact of longer term retail.

Steem Dollars are designed to bring stability to the world of cryptocurrency and individuals using the Steem network. Steem Dollars are created by a mechanism similar to a conversion record, which is often used to fund startups. In the startup world, the conversion record is a short-term debt instrument that can be converted for ownership at a predetermined rate in the future, usually during a future funding round.

For those of you who do not know how, Steem or Steem Dollars, can be traded in external markets such as Bittrex, Bitshares, or in Poloniex. It turns out that Steem and Steem Dollar can be traded also in the external market, if you already have a good balance of Steem (STEEM), or Steem Dollars (SMD), then here is how to Sell Steem and Steem Dollar to Bitcoin in Bittrex.

(1). If you do not have a Bittrex account, first you must register in Bittrex.

(2). Verify the email, by clicking on the link link that is brimmed by Bittex to your email.

(3.)Next, please Login to Bittrex

(4.) Click the Wallet menu in Bittrex, Then Search "Steem". Then will appear Steem and Steeam Dollar Wallet.

(5.)Please Click menu "+" in cryptocurrency Steem Dollars (See Above Picture)

***(6.) Then it will appear as shown below, Please ***
Click New Address, Use Memo and Registered Acct to transfer process from wallet Steemit.

(7. )Then open your Steemit account, then open Wallet.

(8.) On Steem Dollars, click on the balance, then click Transfer

(9.) Next, Enter Memo and Registerd Acct from result of Generate New Address in Bittrex earlier.
Determine the value of the transfer (the amount of Steem Dollars to be transferred). Then click Transfer.

(10.) When you're done, wait until you get to Wallet
Steem Dolllars in Bittrex, if you're already logged in by selling to BTC? (Bitcoin) or other Cryptocurrency, as you please.

Similarly tutorial on How to Sell Steem and Steem Dollars to Bitcoin in Bittrex, may be useful for those of you who have the balance Steem or Steeam Dollar that you get from Steemit!