No Need For Exchanges As Ugandans Now Buy and Sell SBDs Amongst Themselves
It's with great news i announce to you a new method of converting SBD into Ugandan cash
As the Pioneer of Steemit in Uganda,converting SBDs to Ugandan cash has always been the hardest thing!
I am glad to say that this will no longer be stressful as more people join our Steemit Uganda community.
The question of how do you withdraw the money has always been complicated for me to answer as it entails many steps!
Steps To Convert SBD to Its
1.Convert SBD to Bitcoin using Blocktrades
2. Convert Bitcoin to Ugx using Bitpesa.
All these steps above charge fees that really affect us and it's the only way we can convert our SBD to fiat!
The whole process is just complicated for a newbie and i have been helping out with the withdrawal process as i have done it multiple times already.
I am glad to say that we are moving away from that long process as the Uganda community grows.The bigger our number the easier it's becoming for us to ignore the exchanges as we can easily exchange SBD and cash amongst ourselves.
I have always helped out in this process whereby i send cash to a person who is selling his SBDs.We have been few who have been doing this.
I was very excited today when two people in our whatsapp group finalized a transaction swiftly without the need of an exchange! You do not know how excited i am about this new development.
How the Transaction Happened
It happens that one Steemit user asked the group if anyone wants to sell his/her SBDs?
You can see the screenshot below.
I was happy when another user said he was selling his SBDs and boom the transaction was initiated after doing some calculations.
These two guys linked up on inbox and agreed on the amount to be transacted on.I guess they converted the SBDs using the current Coinmarket rate and then converted it to Ugx.
As you can see in the screenshot below one user sending SBDs to another!
I also chipped in in the group so that the other party confirms receipt of payment
The other party then also posted an image of him receiving the money on his mobile phone as shown below.
The two guys concluded their transaction and thanked each other.
This will now help us grow bigger as exchanging SBD to cash is now an easier task for us.
This type of exchange also helps Steemit ,whereby new money comes into the community.The SBD was transferred from one Steemit account to another instead of from Steemit to an outside exchange.
I am very happy to see this happening in our Uganda community as we develop a system to accommodate the numbers that will increase soon.
If you have trouble converting SBD to cash in your community,you can use this approach of ours above.
We even buy airtime for each other using SBDs,a friend sent me SBDs today and i sent him airtime.We are making Steem to be used in real life.
I am excited of this and we will do our best for is to continue than using exchanges !
If you missed my previous post,check them below.
The Life of a newbie in memes
Great Partnership formed between German Steemian and Team Uganda
Team Uganda Weekly updates
If you liked this post please upvote and resteem
Love
Jarau Moses
The Uganda team is this inspiring, from changing lives to exchange of steem dollars to cash easily, with this forward movement that you have committed yourselves to, indeed you shall change lives using steemit.
For the pioneers, jarau and other upcoming ones, you know what you are doing, being foresighted and doing all it takes to promote steemit in Uganda .
As a pioneer you should indeed be proud
of this achievement.
Big up to the Uganda team at large
Looking forward to seeing more of your posts
You got a 11.65% upvote from @upmewhale courtesy of @jaraumoses!
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Always feeding us with informative post. Thanks! @jaraumoses
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