You'd have to open an account on LiteBit first. The wallets are already there for each new user. You could use ETH, but BTC still has the smallest spread, so I would actually use BTC since the transaction speed between exchanges themselves and brokers like LiteBit and Coinbase is really quite good.

Of course, before doing any of that you would have to convert your STEEM into BTC. That's done most cost effectively (for now anyway) on any of the centralized exchanges where you might already have an account set up. I recommend either Poloniex or Bittrex mainly because they've been around the most, have the best volume and fee structures and have worked very well for me in the past.

So after having set up your accounts, you send your STEEM to a centralized exchange, trade/sell it for BTC, send your BTC to LiteBit and sell it, and then send your proceeds to your bank account. Of course, part of setting up your LiteBit account for withdrawals involves bank account verification, and that can take a few days . . . but if you're in LiteBit Credits, no worries since they're just as good as Euros.

Also keep in mind that you'll have a taxable event on your hands and you'll need to set aside some money to pay for that too. 🙁