VIDEO TUTORIAL: Exchange Steem/SBD/Bitcoin/Crypto For Traditional Fiat Currency ($ £ etc.) For Low Fees Using Uphold & Blocktrades
Wondering how to convert your Steem, SBD, Bitcoin and other cryptocurrencies into your local currency, such as US Dollars, British Pounds, Euros & Yen?
Check out this guide to creating an account with uphold.com, connecting your bank account and sending steem and other cryptos to it via blocktrades (Where needed).
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Here's a youtube version of this video:
a friend of mine pointed out the reviews of uphold and they're not great.
https://uk.trustpilot.com/review/uphold.com
Also, I was recommended by a friend (who knows someone who works for these guys) to conifloor.co.uk which is a UK based Bitcoin exchange but the reviews for that aren't great either.
Also, would be great to speak to you - can you email me your number at [email protected]
@dannyshine I have signed up with Uphold on the 1st of Jan (3 days ago) and followed almost every step in the above video and I can confirm that they are legit (at least if you are UK/European). I should mention 2 things though: They have minimum withdrawal amounts, so if ura-soul had tried to withdraw a very small amount of ETH (his very last step in the video) it would have not worked (only reason I know is I tried it myself). Second thing I have to mention is transferring money to your bank account is slow and once it says 'Confirmed' in Uphold it will take another 1-3 business days until the money reaches your bank account. If you do everything exactly as ura-soul says in the video (apart from the last step) then this will work. More info can be found here: https://support.uphold.com/hc/en-us/articles/206118653-Account-funding-withdrawal-costs-and-limits- I have received money in my british bank account today, I also read those trustpilot reviews but I can almost guarantee you that those people have done something wrong. You will not find a method to convert your crypto into GBP with lower fees, anyways hope this helps.
Thanks. I would also like to know if I can easily buy bitcoin with pounds using them?
Yes that's very easy, you have several 'cards' in your uphold account (as displayed in the video above at 5:18) and all you'd have to do is transfer money from your GBP card to your Bitcoin card and it would convert those pounds into Bitcoins instantly and store those bitcoins on your bitcoin 'card'. Please keep in mind there is a fee for that, but again their fees are fair at this point in time.
Thanks, Danny - I hadn't seen those reviews before, I can only go by my own experience which has been great so far. As some of the reviews point out, the poor customer service response time is shared by the biggest exchanges too - it doesn't make it a good situation, but at least in a relative sense they are generally all quite poor. I'll have a look at conifer.co.uk, thanks for the tip.
OK, sure, I'll mail you some contact details.
Ah, I think that URL is mis-typed as conifer.co.uk is a dead end.
Can we do this other way around? Using fiat to buy alt coins directly through our credit card or paypal?
Uphold did support that feature, but presently their support for cards is disabled. You can make a bank transfer to them though and do it that way, yes.
OMG I have actually waited for this video! THANK YOU SO MUCH for this step by step tutorial! Upvoted, resteemed, followed!
you are welcome! thanks!
this information is very important for myself and beginner @ura-soul
Definitely helpful for people who haven't used crypto or exchanges before, great vid!
Good tutorial for those who just start in this world and do not have the knowledge to convert their cryptocurrencies into physical coins. Keep it up!
Your every content i read..I appreciate to your blog..Thanks for sharing ...Carry on my friend...Best of luck..
I am marking down Uphold. I just signed up for Gemini and waiting for ID verification. I tried Coinbase but they have been on delay for Id ver for about 3 weeks...insane! Thanks for all the info. It does look user friendly.