Proof of Payment to AMWIH Charity. Thank You Steemit!
Thank you to every single one of you who has upvoted one of my charity posts in the last few weeks. My drive to generate funds for Ask Me Why I'm Here (AMWIH) closed one week ago, and now I'm here to give proof that I didn't just run off with the money.
Financial Report
The first number is the total earnings of the post, and the second number is the author's earning after the curation rewards have been subtracted.
- WEEK 1 - 48 cents (37 cents)
- WEEK 2 - $29.07 ($21.88)
- WEEK 3 - 16 cents (10 cents)
- Bonus article earnings - 73 cents (66 cents)
- WEEK 4 - $2.03 ($1.79)
- WEEK 5 - 27 cents (22 cents)
- WEEK 6 - 51 cents (43 cents)
- TOTAL - $25.45
Donated Steem Dollars brought to total to exactly $100 SBD.
This may seem tedious, but I want to be as above-board as possible. So I'm going to take you every step along the way to my completing this payment.
1. Steem Dollars Transferred to Poloniex
Sent...
...and received.
2. Trade SBD for Bitcoin
The Steem Dollars were sold at 0.0015115 BTC per SBD.
3. Withdraw Bitcoin from Poloniex
After withdrawal fees, I had 0.15063772 BTC.
4. Sell Bitcoin for Canadian Dollars
I use Kraken exchange to convert my BTC to fiat. As you can see, it sold for an estimated $122.02. The final amount was a little less: $121.70.
Next I withdrew the CAD to my bank account. Kraken has a $10 fee for CAD withdrawals.
I was left with $111.70.
5. Get in Touch With Jon (AMWIH Founder)
For anyone who didn't read my previous charity posts, Jon Van Goch and I have been good friends since childhood. Since AMWIH is not a registered non-profit—it's just a group of individuals trying to make a difference in their community—there is no "organization" to send the funds to. Since I know Jon personally, I would send the money directly to him.
6. Transfer Funds
I used Interac e-transfer to send the money to Jon.
And that's it! Thanks again to everyone in the Steemit community who used their clicks to give money to this cause. It really means a lot!
~Seth
Dear Seth,
thank you very much for your transparency, consistency, thoroughness and, above all, stubbornness :) And a wish to help, of course. You are doing great!
As I can see, Kraken is the most expensive link in this chain.
Can this be fixed somehow?
I had never cashed out BTC before, all exchanges that do this have a fee, but I'll be honest and say I didn't shop around too, too much. If I do this again, I'll definitely look around at other exchanges first.
I understand. Unfortunately I can't help you with a direct advice since I live in the Eurozone with SEPA payment protocol in place.
Just for the record - it might give you an idea for another option on your part - my path is:
As you can see, quite straightforward and no big fees. The only two small fees are points 1 and 2.
I will make a transfer to XAPO because there you can make a transfer to around 150 currencies. It should be straightforward too. Maybe I'll learn something useful for you too.
After all, it is a shame that you basically throw away $10 :(