How to use your Steem/Steem Backed Dollars for shopping, remittance and everything else

Steemit is great! There is no questioning that. However, how do you spend your Steem or Steem Backed Dollars in the real world? For fellow Steemians out there who are wondering how to spend Steem or Steem Backed Dollars, we wrote this simple guide for you!

First cashout and create "Steem Backed Bitcoins"

As awesome as Steemit may be, it is a little just over a year old and not supported by as many merchants as is Bitcoin. Due to this reason you would have to convert your Steem or Steem Backed Dollars to Bitcoins, so you can spend them at all the merchants that support Bitcoins, as at 2015, over 100,000 merchants supported Bitcoins.

Do not worry, I will show you how to easily convert Steem/Steemit Backed Dollars(SBD) to Bitcoins.

Convert Steem or Steem Backed Dollars to Bitcoins

• All you will need is a to have a Bitcoin wallet, and we would recommend Coin Base, Xapo or Blockchain.
• Simply go to an exchange like www.bittrex.com, and exchange your Steemit or Steem Backed Dollars to Bitcoins.

Make sure you have doubled checked your wallet address when filling in your Bitcoin wallet address at the @Bittrex, if you enter the wrong address, you would might never receive your Bitcoins.

Polonix is another great Steemit/Steem Backed Dollars exchange, however recently there has been several reports that they are not completing offers, perhaps you should stay away from them until that issue is resolved. Follow @BlockRush to receive an update when the issue with Polonix exchanges is resolved.

Using #SteemitBackedBitcoins for Remittance

#SteemBackedBitcoins could be used for global remittance. You can send money to anyone anywhere in any country, through the internet. Recipients do not need to have a bank account, and transactions cannot be censored by even government agencies.

Remittance services which support #SteemBackedBitcoins include: Mobi, Abra and Local Bitcoins and every other #BitcoinExchange or remittance service in the world.

Shopping for anything using the #SteemBackedBitcoins

You can also use Bitcoins for shopping online. A few major merchants that accept Bitcoin include: Dell, Microsoft, Fiverr, Namecheap, Virgin and OverStock.

You can also shop directly with your Steem or Steem Backed Dollars on PeerHub.com.

Other uses for #SteemBackedBitcoins

Remeber that you could use your #SteemitBackedBitcoins for pretty much anything that your would have used Bitcoins for, since SteemBackedBitcoins are Bitcoins - they are simply tagged "SteemBackedBitcoins" only because they were created from Steem or Steem Backed Dollars.

Steemit tip for you - new hashtag

In this post @BlockRush just created the hashtag #SteemBackedBitcoins. Please join the #SteemBackedBitcoins trends by using the hashtag in your posts, thank you!

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