How to convert SBD to Indian Currency , Full Documented Process : Learning Journey 5

in Ongoing Learnings4 years ago (edited)

Today was a day of learning, finally was able to convert Steem Dollars to native currency INR.
It was the first time, and it was worth it, here is the full process:

For this, we need to create two accounts. ( Android Apps Available )

  1. Bittrex Global ( https://global.bittrex.com/ )
  2. ZebPay ( https://zebpay.com/)

Both accounts must be verified first before continuing.
.1 Bittrex
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  1. ZebPay
    Screenshot_20210307-191731__01.jpg

Step 1, how to transfer SBD to Bittrex?

It can be directly sent from your Steem wallet, steps followed:
-- Click on the down arrow against your Steem Dollar balance and select transfer.

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-- Amount need to be sent to Bittrex

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-- You must include a memo, it will be obtained at Bittrex app.
-- Go to the Bittrex app, tap on holdings, and select deposit.

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-- Search SBD from the list of other cryptocurrencies

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-- Copy the memo from there.

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-- Copy-paste the memo in the Steem wallet and transfer the amount.
-- It will be reflected here in the holding tab( Bittrex app)

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Step 2, how to convert SBD to Bitcoin?

-- Click on Market, select SBD

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-- Click on sell and if you want to sell at the current market price, select the market and enter a quantity.

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-- It will convert SBD to Bitcoin. Check it in the holding tab.

Step 3, Send Bitcoin to ZebPay

-- In holding Tab, Click on withdraw

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-- Need to enter the Wallet Address & Amount

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-- Open ZebPay, Select BTC

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-- Click on receive, copy the address and paste in Bittrex app.

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-- It takes some time for it to reflect on Zebpay

Step 4, Convert Bitcoin to INR

-- Again select BTC, click on Sell ( Selling BTC to receive INR )

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-- INR will be reflected in the balance, You can now withdraw the amount ( After entering Bank Details)

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I hope someone will find it helpful. There is a fee involved when you transfer BTC from Bittrex to Zebpay.

Thanks
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