Airhawk Exchange (Convert SBD/Steem to Naira Part 3)
This is the third post I'm making about converting SBD to Naira. I'm very pleased to announce that we now have a trusted escrow service for sbd/naira conversations. I'm very excited and pleased with this development.
Short Story
I needed to make some quick conversions today and I didn't want to go through the hassle of converting first to bitcoin. I was still contemplating weather to use bittrex, Luno or localbitcoins.com when I remembered that I had read something about airhawk-project exchange.
Through the help of @prechi and @dorth, I summoned the confidence to use the airhawk-project exhange.
I needed to get a lot of confidence because I've seen people loose money when trying to convert Cryptocurrency in telegram groups. I already have paranoia for such types of conversions.
How to Use the Air-hawk Exchange to Sell convert your SBD/Steem to Naira
To use the airhawk-exchange all you need to do is
Join their telegram groups(yep they have various groups for various purposes).
Indicate the amount of SBD or Steem you want to sell in the group for e.g. I indicated that I wanted to sell 100 Steem at 365Naira per Steem.
The buyer will then agree to your price or state the price that is he is comfortable with. In this instance, the buyer bargained for 355Naira per Steem.
When you have agreed on a price, you can then send your Steem/SBD to the escrow. The escrow here is airhawk-project. Please note that the account you are sending your money to is airhawk-project and not airhawk-exchange.
When you send your money to the escrow the escrow will announce to the buyer.
The buyer then credits your account with naira
When you get the alert you will need to inform the escrow so that he can release the Steem/SBD to the buyer.
The transaction is complete.
Please make sure you receive the funds before releasing the escrow.
Definition of Terms
- An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction.
Or
An escrow is a middle man's that holds the funds and ensures that both parties(sender and receiver) meet their own part of the deal before it release the funds. The trade can be disputed when it is still in the hands of the escrow.
- Exchange is a place where one currency can be traded for another.
So that's how I was able to convert 100Steem to Naira today. It was stress free. I have to give a round of applause to @dreamchaser and his team for rendering such wonderful service. Thanks to @dorth and @prechi too for helping me out.
Thank you for spending your precious time to read this post.
I hope it was value for your time. Please if you have any observation of the operations of the air-hawk project, do leave a comment below.
Thank you once again.
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This is a nice development but i will like to suggest that both the buyer and seller send their assets to airhawk-project and airhawk transfers the funds to both parties,this method eliminates a possible scenario where either party decides not to be credible during the transaction.
Just my own idea,this is a nice post
Thanks @amec for your recommendation. In real sense, there wouldn't have been any need for the funds(cash) to be transfered to an escrow. What is needed mainly is for the owner of the SBD or Steem to have a trust in the escrow(because he sends first) and then, the sender of the cash believe that he will get his asset after payment. So, invariably, everything revolves around trusting the escrow team. This we have however been able to proof with the transactions that have been undertaken so far.
Moreso, we took advantage of the zero transaction fee nature of steem and SBD and that's one reason it's the one that comes to our custody. If we treat the cash this way, we wpuld have to pay extra transfer fees from bank to bank...Not to forget that steem and sbd transactions are instant.
The atmosphere surrounding Airhawk-prohect is nice and cool and the major language spoken is transparency @tojukaka
@tojukaka, thanks for giving a report of your experience with @airhawk-project 's exchange.We are happy that one of our goals is being achieved already in terms of having people able to exchange their earnings on steemit for tangible value. At least, with this post, a newbie knows that all he needs to do is earn those SBDs and then he already has a place he can get value for them. And as I always say.
Thanks again @tojukaka for being a witness (not Jehovahs witness)😀
Nice one boss!! 👏
Tho i find it difficult to understand some, some screen shots would have helped. Guess i have to read your previous articles on the same topic to fully understand.
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