My SBD/STEEM > BTC > FIAT Conversion Method/Tutorial

Hello everyone! I know there are a lot of posts out there about this topic. However, for me it has taken 45 days of playing around here and there, and a lot of reading to understand what I am doing well enough to share with my fellow steemians. It is my hope with this post, not to beat a dead horse, but rather help clarify things for any of you who haven't yet traded or cashed out any sbd/steem.

Also, for the record, do understand that you are merely reading how I'm currently doing this and what is working for me. I definitely think my method will work for you too, but I can't guarantee it!

I am a firm believer in the fact that if you can not easily explain or otherwise teach someone how to do something, then you aren't proficient enough yourself. That is a fact. So, here goes my stab at a tuturial of what is currently working for me in this arena.

SO, YOU JUST GOT YOUR FIRST BIG (or small) STEEMIT PAYOUT
I bet you are so ready to see for yourself, is this real, can I really buy something or pay my bills with this?? Yes, you can!

I will outline below:

1. Conversion of sbd/steem > btc using Bittrex
2. Bittrex btc > withdrawal to coinbase
3. Coinbase withdrawal /convert to USD > bank account.

CONVERSION OF STEEM/SBD > BTC
If you are like I was, you may not know that your steemit earnings must be converted to bitcoin first. Here's how I am doing that.

1. I open my steemit wallet. I go either to my STEEM tokens or sbd, whichever I'm wishing to sell. You want to click on the drop down box and then "transfer"

Once you do that a window will pop up that looks like this:

You will now go to your Bittrex account. When you first login it looks like this:

You'll need to go to your wallet. Click the menu on the upper right, then scroll down to the wallet.

Open your wallet. It will look like this:

Next, type sbd or steem whichever you're selling into the search box like so:

Click the (+), then the following will pop up with the memo. You will copy that.

Go back to your steem wallet. Paste that memo. Type "bittrex" in the "to " section. Decide how much your sending, then press "submit".

You'll be prompted to enter your master key. Do so. Then you wait. You should receive an email about the funds being transferred to your bittrex. It usually doesn't take more than a couple minutes. After that, go back to bittrex. Go to "B" markets. Then in the search box by "B markets", you will search for steem or sbd like so:

You will then click:

Now a screen will pop up that has the candlestick graph. Just scroll down to the "sell" area. You will see whatever amount of sbd you transferred. It will look like this except you won't have zero. :)

Then input bid for the price, input the amount of sbd you're selling. Under "time in force" select "immediate or cancel". Then click sell steem dollars. It should occur right away. You'll then have BITCOIN!

Now you need to go to coinbase BTC wallet
and obtain your wallet address. Your coinbase bitcoin wallet is under the account section. Click the coinbase wallet. On the right is the wallet address. Click that.

COPY IT. Go back to your bittrex wallet. This time search for BTC. You'll click the (-) this time.

Then you'll get this window and you'll paste the coinbase wallet address.

Input the btc amount. Click "withdraw". You will receive notification from coinbase once your btc is there.

Then you'll sell your btc. Click on the buy/sell tab in the coinbase menu.

From here, the rest is pretty easy. A sell window will populate. You will sell the btc for usd. You can withdraw what you want into your bank acct or fiat wallet.

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It will become fairly routine, eventually. You can also use the krakken exchange in the same way. BUT MAKE SURE YOUR NAME ON YOUR BANK ACCOUNT matches what you have on krakken. For example, if your name is
Edgar A Jones on your bank account and
it is
Edgar Allan Jones on krakken it will NOT work.

There's also a way to simply withdraw from coinbase to paypal. But your names MUST match.

I hope this helps. Again there are many ways to do this. This is just how I'm doing it.

Thanks for reading. Have a great day and full STEEM ahead!