Steem (STEEM) Cash Out

in steem •  2 years ago  (edited)

A Letter to @johnwrj7


Dear John,

RE: CASH OUT

When you are ready to CASH OUT from Steemit after spending all your SBD for buying Steem and Powering Up, all you need to do is "Power Down". Please see below screenshots:

(1) Steem Power






Adjust the bar to set the amount you wish to withdraw/sell per week. We could "sell" 3 STEEM or more (make sure it covers the minimum deposit) to LITECOIN/DOGECOIN via @blocktrades and Coinpot.co.

Click "Power Down", the amount of STEEM you've set up will be returned/credited back to Steem Wallet every seven (7) days.



You can cancel anytime if you wish.

(2) Steem Wallet


When STEEM is already credited in your Wallet, click "Sell" or go to blocktrades.us, under SEND select "Steem", enter any STEEM amount and under RECEIVE select "Dogecoin" or "Litecoin", paste your DOGE or LTC Wallet address in the box provided. Copy "memo". Please see below screenshots:








Go back to Steemit.com Steem Wallet reference image #1 above, click "Transfer", enter blocktrades as recipient, input amount you wish to cash out (sell), paste memo reference image #3 above (DON'T FORGET). See screenshot below:



You can use Coinbase Litecoin or Ethereum address to RECEIVE coins (I am not sure if there is a minimum deposit) while you are in the Philippines but you can only send/withdraw it from Coinbase if you are in the USA or any country supported for Coinbase (Philippines is no longer supported).

You can get/use Coinpot.co (lower fees and free to convert) DOGECOIN or LITECOIN address and Coins.ph Bitcoin/Peso wallet to withdraw your coins when in the Philippines. We need more or less ten (10) STEEM (depends on currency exchange rates) to cover the minimum BTC transfer from Coinpot.



I will try remitano.com for ETH. Or, pinoybitcoinexchange.com for ETH/DASH/LTC to bank when coins.ph service is unavailable. We need more or less 100 STEEM (depends on currency exchange rates) to cover the minimum deposit.

Regards,

Yvonne a.k.a @pinay

cc: @junebride @long888

***Images are my mobile phone screenshots edited with Phonto and PhotoCollage iOS apps***

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So I need a "Dogecoin" or "Litecoin" account also? I have a BitShare account, but I have yet to use it. It'll all be a surprise to me when/if I do.

I checked and created BitShares wallet. Will publish a post about selling STEEM to Ethereum, Dash and BitShares soon. My preferences are Ethereum and Litecoin when exchanging to fiat (USD/PHP). 👍😊 BitShare is good for investing I believe.

Excellent! Great to see that you got started with Bitshares. I have been doing very well with Bitshares for the past couple months.

Salamat! I would want the best one for using in the Philippines and/or the US. I can open another account if necessary, I just need to know the steps.

I will try to SELL Ethereum/Litecoin at https://pinoybitcoinexchange.com if Bitcoin is still unavailable at Coins.ph in January 😊

BlockTrades simplified buying/selling Steem/SBD now. I posted/blogged screenshots. :)

  ·  2 years ago (edited)

I haven't used BitShare. Will check it out. I sell to Dogecoin because its FEE is the cheapest. 😊

I just don't know enough about any of it to know what to do. I was hoping when I "cashed out", it'd be for fiat, maybe Paypal or something.

  ·  2 years ago (edited)

In the Philippines, we use coins.ph to withdraw Bitcoin in peso (transfer to Globe Gcash, bank account, cebuana, etc.). But since blockchain FEE has increased when transferring Bitcoin or selling Steem/SBD to BTC, I sell Steem to Litecoin or Dogecoin first and convert it to BTC via Coinpot.co to save some fees. Then transfer BTC to Coinsph for peso.

In the USA, you can use Coinbase to withdraw in dollar. Coins.ph and Coinbase are just similar to PayPal. The difference is the currency, PayPal is for fiat and Coins.ph is for Bitcoin transactions. 😊
Coinbase is for Bitcoin, Ethereum and Litecoin.

It would be easier when you are in the USA because you can sell Steem/SBD to Litecoin direct to Coinbase for fiat. https://www.coinbase.com

I'll try to work through all that and see if I can understand it better. I'll have to be sure to have a practice run someday before I surprise my asawa with a big amount of money (if I get there). I live in the Philippines, so I guess I'd need to do it the same way you do. I guess once I figure it out here, when I get to the US it will be just that much easier.

Yes. It's a nice surprise haha I could monitor your wallet if you are already a Steem billionaire. 😂😂😂
That's one good thing about powering up/down -- the weekly amount set is invisible for 7 days unlike if you just keep Steem/SBD in our wallet or savings.

I'll settle for a Steem millionaire, I'm not greedy. I could let you know when I'm ready.

👍😊

Wow you really know a lot of things, we need you on #steemitachievers

  ·  2 years ago (edited)

Basta pera pera 😂😂😂 Thank You! 😹😹😹
No offense sa mga nagblog about SBD to BTC sayang din fee eh 😊😊😊

Dinagdag ko pinoybitcoinexchange kasi hindi makatransact sa coinsph for more than a week na kahit mobile load ayaw 😤

May new posts po ako di naman nakikita ng #steemitachievers kahit ilagay ko first tag baka dahil nasa steemit.com ako, kayo nasa busy.org? https://steemit.com/blog/@pinay/why-not-to-sell-steem-dollar-sbd

Looks like you are doing great here. Reaching payout quickly I guess :)

I do not sell SBD to BTC 😂 I always use my SBD to buy STEEM and Power Up or Cash Out (sell to Dogecoin). 👍

Dogecoin? Why? That coin has no future. Try investing into monero or DASH or even ETHER. :)

I sell to Doge and CONVERT to other coins to save fees. 😝
And for Australian Steemians it is the best option if they want to exchange in fiat. Doge can be transferred to australian banks. 😜

Yes that's the trick many people use for the exchanges. :)

very informative. I bookmarked this for next time I plan to withdraw steem

  ·  2 years ago (edited)

Thank You! My next post is about my six (6) cash outs 😂

ayun sa wakas na hanap ko din blog mo sis natabunan huhu.bookmarked this sis. <3

  ·  2 years ago (edited)

Yayaman ka dito 👍😊
May Steemit Diary ako sa Wordpress. 😊

cge sis basahin ko nang matuto nmn ako dito thanks sis <3

Power Up ka na po kasi tumataas ng tumataas Steem/SBD sayang natutulog lang SBD mo 😊 click
buying steem link po if di mo ba nabasa pano 😊

nae excite ako mas inuna kong basahin pano mag cash out lol.
need b muna mag power up sis? Panu b mag power up sis d ko mahanap sa wordpress link m pla huhu

ayun nahanap k n pla link ng power up dito sa post m mismo sis churi hahaha. salamat sa tip sis

  ·  2 years ago (edited)

Haha 😂 👍 Power Up po muna. Kumbaga sa bitLanders buy more gems muna para makasubmit for review at kumita ng mas malaki. Pag nagwithdraw ka agad ng earnings mo uusad kang parang pagong forever :)

Awesome post!boy with thumbs up cropped.png

Thank You! 💋💋💋

I think I need to bookmark every post mo huhuhu. Nawiwindang pa din ako sa power up at pag cash out lol kahit wala pa namang iccashout hahaha

  ·  2 years ago (edited)

Pwede ka magcashout 1 STEEM to DOGECOIN bigyan kita pag nareceive ko yung reward sa Simplified Cashing Out malaki laki yun balatuhan kita 1 or 2 STEEM DOLLAR para makacash out ka na agad :-D pero yung new method ang sundan mo hindi itong #2 dito kasi old method to :)

Sogoi!!! Maraming Salamat po! Wait ung bagong method ay ung bibili muna ng steem to power up? Wait check ko ulit po hehe

  ·  2 years ago (edited)

Iba yung Power Up bibili ka talaga Steem :-D pero pwede rin Steem na ipasa ko sau :-D at pwede ring SBD ipasa ko para masubukan mo pano buy Steem :-D

Yung Cash Out pwede Steem pwede rin SBD pero Steem lang prefer ko (^_^) ito po new method ng cash out: https://steemit.com/blocktrades/@pinay/simplied-cashing-out-from-steemit

Sogoi!! Wait basahin ko po hahaha

ung sa transfer palitan mo lang ng g10a mas madali un matransfer kaysa blocktrade.. :D peru gusto ko pa rn talaga may kalpati eh.,

Sige paliparin ko kalapati dyan 😂

Ito na po 😂

Nice tutorial for the people of your country. Good luck

Thank You! 😊

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This post is about CASHING OUT 😜

Nice tutorial.
I might use this when the need arise.

👍 manual transfer pa po ito, kung magkaroon STEEM and/or SBD sa illaunch na Coins Exchange (CX) ng Coins.ph ganito po pagcash out pero thru BlockTrades pwede na po SteemConnect ganito:
Simplified Cashing Out from Steemit

UNVOTE nyo po ito sayang voting power, vote posts not older than 7 days po 😊