How To Buy Steem with USD (Newbie Guide 👼🏼 )

in steem •  last year

I've officially been on steemit for 69 days. I know that's a bit irrelevant to the title of this post but I thought to myself, hey maybe this is a good milestone to make a helpful post for new minnows swimming onto the platform. I am a huge advocate for investing in products and websites that we use on a daily basis. What better place than right here, where it can actually immensely help pave your path to success. So here's my step by step guide on how to buy steem/steem power with US Dollars or Bitcoin.

There are probably a few other ways to purchase Steem, but I've found this method to be the easiest/fastest.

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Steps:

1 . Go onto coinbase.com, and log on or sign up if you don't already have an account. I've found coinbase to be the easiest of exchanges to directly use US dollars to buy bitcoin. If you don't already have an account, unfortunately it might take a couple days to verify your identity ect.
2 . Once logged in, you and click on the buy/sell tab above your dashboard and enter in the amount of USD you wish to spend

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3 . After you have purchased your Bitcoins, login to Steemit.com, and open your wallet. Your wallet can be found by clicking on the "Wallet" link under your 'profile' picture icon. (It is in the upper right corner of the Steemit website.) Then click on the "Buy Steem or Steem Power" button under the wallet tab.

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4 . This is going to pull up a new window with the Blocktrades website. Here you can calculate apprx. how much steem you'll be receiving depending on how many bitcoins you purchased. Under your steemit username click on "get a new deposit address".
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5 . Then after a few moments a btc address and a QR code will pop up below where you clicked. Here you want to copy the btc address provided. If you somehow miss a letter or enter in the address incorrectly, then your btc is gone forever. So make sure you enter/copy it perfectly.

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6 . Now you want to back to coinbase, and click on the "Accounts" tab above your dashboard. Here you will see your wallets and the amount of btc you just purchased. Click on "Send" under the according btc wallet with your funds.
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7 . A popup will come up, prompting you to enter in all the information to send the btc. Here you want to enter in the address you copied from blocktrades.
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8 . Now enter the amount of btc or usd that you want converted into steem. You can also add a little note below if you want a reminder of this transaction. Then click continue and send!
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9 . It will take a few minutes for your transaction to be sent, but it shouldn't take more than around 10 minutes. Make sure you keep your blocktrades window open you can see once the btc has arrived and converted. You should also see a little red notification above your profile on steemit, notifying you that you've received the transaction.

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10 . This 10th step is of course optional, but personally there's no better way to use your steem than powering up into Steem Power. Once the transaction is finalized, go back to your wallet and click on the little grey arrow next to your Steem amount. Then click on "Power Up". This will then prompt a window asking how much of the steem to convert to steem power. Enter in the amount you see next to balance to power up all the steem you purchased.
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And you're done!

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I hope you found this guide useful! I know that there are a few different guides out there but I didn't find one that was up to date. If you have any questions, please feel free to leave a reply.

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Great post and if you have a credit union like me, you need to call them to make sure your debit card is 3dsecure ready. They turn it on and off for me every time I use coinbase. Thanks for sharing @mrs@mrsLauren

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There MUST be an easier way to buy Steem! Steemit cryptocurrency money exchanges 

Rather than go through one or more third parties, why not buy Steem from Steemit.com, or Steem.com? Am I making any sense here??? Or  am I being too simplistic here? Am I being an idiot for stating the obvious??

Buying through third parties is very discouraging and suspicious to most normal people. 

The steem eco system could very easily set up there own e-commerce payment gateway. Why don't they?

Perhaps tere is strategic brand marketng reason to sell steem through third-party exchanges, istead of diect to customers..

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@road2wisdom can you explain this? what is 3dsecure and why do i need it?

You should link your coinbase referral.
If someone signs up using it, you will each receive $10 USD once they transfer $100.
Great info, keep it up :)

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Great suggestion, I just updated the link. Thanks!

I love this demonstration of your mastery of the secret art of crypto. Your crypto-fu is very strong.

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Hahaha XD yes this was a fantastic demonstration

Awesome, I always thought you had to buy from polo or other exchanges and then Send here. This seems easier thanks for the post!

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You're very welcome!

thank you so much for this!! this is the first post i found that actually shows how to buy directly off steemit, most posts said to transfer steem bought off bittrex, poloniex etc. which wasnt what i was looking for. thank you mrslauren!!

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Of course! Glad it could be helpful :) Welcome to steemit!!

Very, very well written article! Bookmark worthy for those who need a step by step.

Well done Lady Lauren :)

I'm Upvoting this AND giving it a Resteem

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Thanks iamnotageek :) I appreciate it!

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You are always welcome. :)

Thanks for the guide.. I wish I had it a month ago! Ps I just followed you!

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Thanks millionaire mark :)

JUST BOUGHT SOME!!!! =) Thanks for this post, I did it step by step.

Awesome post! I think there are many people out there, although it might be simple for us, it's still very confusing for them. Awesome newbie guide :)

Talk soon!

That's one way to do it... although that path is filled with fees of some kind or other... you're going to lose 15-20% of your value just getting to the last step.

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You can take me, but you cannot take my bunghole.... For I have no bunghole....

This post has received a 2.91 % upvote from @booster thanks to: @mrslauren.

Excellent guide for starters, just bought steem worth one LTC using the guide, very helpful.

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I'm glad it was helpful! :)

@mrslauren ....
thank very much, you have upvote me post
@mrslauren .... :)

I've found coinbase to be very easy, but their exchange rates and fees are a little high. I put $50 in, purchased litecoin. By the time I had it in my JAXX wallet, it was $26.

When are you going to create another animated gif? :)

dear @mrslauren, thats my first comment on your post. you really share a useful and valuable topic that helps everyone specially new comers. i admired you and fully support you.thanx

Are there any exchanges that have a steem/usd or steem/usdt pair? I can't find one, want one real bad.

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Not that I know of unfortunately, this is the easiest way I know of at the moment.

Nicely done.

Great post @mrslauren! This is the clearest instruction on how to get steem using US dollars. Thanks - @go2sheila

Thank you. I used this to buy my first etherium and steemit coins.

Thanks for the guide! I went about it slightly different (sending from Exodus wallet) but it was almost instantaneous worked! :)

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No worries! I'm glad you found it helpful :)

MrsLauren, so you're saying that in order to buy SteemPower, you must first buy another crypto ie Bitcoin, or Ethereum? Can you not just buy SteemPower directly with USD? If I buy Bitcoin at a high price, I would assume this gives me a lot less SteemPower, no? I'm not really clear on this...

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As of right now, the only way you can buy Steem (to transfer to steempower), is buy purchasing it with another cryptocurrency. You can buy either LTC, ETH, or BTC with your USD and then transfer the crypto you purchased to Steem. If you buy $50 worth of Bitcoin then you can use that $50 worth of Bitcoin to buy $50 worth of Steem. I hope that makes sense :)

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Thanks for your reply MrsLauren...yes, it makes sense. However, is there any advantage to buying-in with a cheaper crypto, than Bitcoin, or does it matter at all, providing I'm buying Steem right away? :D

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It doesnt matter, because youre getting the exact amount, just in a different currency. But if you're feeling a bit skeptical, my best advice would be just to earn steem by interacting/commenting/posting on the Steemit blockchain, and if you're sincere and write quality content, you will make crypto instead of buying it.

awesome info @mrslauren!! Thank you!!

Thank you so much for this post! You made it a very simple process and the instructions were very easy to follow.

That's so much for the help. Simple with step by step instructions. Pity coinbase didn't accept me as I am in Jamaica and not in the US. If anybody knows of an alternative way to buy please share.

Thanks, Lauren! Still a great tutorial after 7 months.

this was really helpful, thank you from a small fish....