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RE: Request : Update from Poloniex on STEEM/SBD transfers.
This is true. Moreover, people like me who have recently joined steemit or are new here are facing even more problems these days. Poloniex has temporarily disabled the deposit and withdrawal of steem and sbd. Now what do we do? I read that bittrex, bitgo, coinbase, etc can also be used but they charge a lot of transaction fees? Is it true..? I mean, newbies here are really totally messed up deciding what to do and what not to do. We really want someone to help us out. Which is right now the best for trading SBD?
The way I was able to get Steem into Steemit was using Changelly to convert my BTC to STEEM and get it deposited here. Poloniex just hasn't made it easy.
Bitrex also has STEEM but the fees are minimal, just like any other platform.
Coinbase you actually cannot purchase STEEM.
What are you looking to do?
I'm actually looking for buying btc using SBD. Yesterday, we all know that the Bitcoin price was very down so it wanted to buy btc from sbd. But poloniex was temporarily disabled and bittrex (one of my friend said that it charges a lot of transaction charges), so it could not buy it. And i decided that first I'll know more about all this and then only I'll trade.
openledger got SBD. and you are charged by BTS. not 0.25% like bitrx...wonder how much poloniex charges on all transacations.
Even I wonder how much poloniex charges on the transactions made. Well, thanks for helping. Even a littlle bit of help matters to me.
Thanks a lot and have a nice day. And, happy steemin!
You can also check out my latest post and help new comers by commenting and sharing your knowledge for them. Thanks again.
Bitrex charges 0.25% on all transactions https://bittrex.com/fees.
On Poloniex it depends if you are a market maker (0.15%) or taker (0.25%). Either way it is a very small price to pay if you want to purchase Bitcoin and shouldn't restrict you from doing so. Https://poloniex.com/fees/
@gamerveda, this is quite helpful. And, I thank you a lot for sharing some really valuable information. But I think Bitcoin is not the last money that anyone wants. Everybody is interested in changing btc to their own local currencies. So, it's important to keep in mind the transaction charges that we'll be charged for converting btc also to a different currency. What do you think?
If you are in India then Zebpay or LocalBitcoins.com may be the best option if you are looking to get INR for your STEEM. You could use Changelly.com to convert STEEM to Bitcoin (they take .5%) and deposit it directly to your wallet. Then use Zebpay or LocalBitcoins to sell it for Fiat. Keep in mind there will be costs associated with either service to convert back to Fiat. Just the nature of the game. Hope that helps
Be careful with localbitcoins though, never ever disable the escrow function, and never meet in person in a private place.
Yes, that's really helpful. And yes, zebpay is the one that converts btc to rupees and I'll use it definitely. But I've heard that bittrex etc charge 0.25% for local transactions but external transaction charges here are high. That's why I just wanted to do it in poloniex. Till then, I'm going to earn at least 100 sbd. And I just hope poloniex starts working by that time.
Thank you so much for your time and comment. :)
Well, what's best is to do a little homework and find out what the costs actually are since the actuals seem to be your concern. Good luck
Thanks a lot @gamerveda. That's a lot of help, I must say. Moreover, yes I'm going to learn a lot of things about it and find out everything. It is a little difficult for the newcomers because everything is so dynamic. You start understanding it and at the same moment everything changes. It is a big challenge. Thanks again for your efforts. :)
don't forget @blocktrades - and if you look in your steemit.com wallet, now you can find links at the bottom of the menu on the balances that open up blocktrades with the right pairs set up (btc->steem steem->btc and same for sbd)
In my experience, blocktrades has been the most helpful when things went wrong, I was never in the lurch for more than two days, and sometimes, they were even MY mistakes!