I took a little bit of profit today

in #cryptocurrency7 years ago

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I wanted to test if it works

Seeing people who successfully converted Steem Dollars to Fiat money made me curious how and if it works for me as well. Transferring SBD (Steem dollars) to Euro. Just because someone tells me something works, in my mind, still does not proves it to be working. I’ll have to see these things for myself. Especially if others ask me if it is really possible to convert some profit ,gained by posting blogs on Steemit, to Fiat money.

I just want them to hear a true story from me which I have been through and tested myself.

From SBD to Fiat money.

I am familiar with converting Steem Dollars to Steem and then to Steem Power.

But I have never done conversion of Steem Dollars (SBD) to Euros. (mainly because I want to keep everything in the platform and want to get stronger from it by converting everything to Steem Power)

Because the STEEM SBD and STEEM are unprecedentedly high today, and are close to each other in terms of price, it is not that useful to convert to STEEM at the moment.

A good time to convert to Euros as a test.

Actually convert through an exchange

First of all, I have taken my Kraken account (the trading market) to Tier 2, a verification level that is needed to eventually pay out to Fiat money.

When this was done I could get started. I must admit…I needed help with this from my brother @eqko and my friends @exyle and @bennierex.

There are a few steps required. (my brother @eqko will later explain how to perform these steps)
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  1. Steemit Wallet with (SBDs) www.steemit.com
  2. Block trades (Exchange) https://blocktrades.us/
  3. Kraken (Exchange) https://www.kraken.com
  4. A normal bank account number

It is quite cumbersome at the moment but it is what it is.

First of all I needed the Crypto address to which I had to send it (it does not go directly to a Fiat account), which I found at Kraken (3).

Then via Blocktrades (2) I had to make an intermediate address to convert SBD.

And from my STEEM wallet I had to start the transaction after specifying the amount of SBD.

Then, in your mind, the money flies out of the atmosphere and into the cosmos and is nowhere to be found for a while.

After a considerable time (hours) waiting, it arrives at Kraken and you can convert it from there to the Eurorekening (4)

When I finally saw it in my bank account, I knew it was all real!

Money, blogged on Steemit in my bank account.

Crazy! But it is real, and now I can tell anyone who wants to hear it!

The proof has been delivered!



Fellow Steemians, ​​have the best day!
Life is for living, so live it! - @s3rg3

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WOW Thats great CONGRATS

Good posts, but instead of putting it back into fiat. You could just buy another type of coin, like xrp, ltc of course bitb and then hodl. Just saying.
Thanks for the article :)

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Next time I’ll keep it in crypto. This was just for me to test how to take profit to fiat. A one time event.

Its great how you can move things around. The first time I moved my sbd to bittrex and had like 300 bucks to buy verg with. A happy day. I love this platform, because there is people that can help out with anything under the sun. Cheers

Great to hear it from you m8! For me that’s enough. When I want to have my first pay-out I will call you for some help.

You can always ask my help m8!

Nothing wrong with taking profit from time to time.😄

You are totally right buddy!

I haven't yet cashed out at all, but it might be on the agenda soon.

It would be so cool if there was an easy steem to fiat/local currency easy route.

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