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RE: How to sell STEEM or SBD for Bitcoin or Litecoin and deposit to your Coinbase Wallet
Ironic I come across this first thing this morning. Our son just went through the process with me last night and I set up the coin exchange account and an Electrum account. He had me do a transfer from steem to the exchange then did a BTC purchase. He helped me understand SO much about cryptocurrency.
Now I can bookmark your post here for a visual guide. Thank you
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Took me a few days to understand this - asking a lot of question and finally pieced it all together. I thought I would write it all down to help others. I made a few mistakes along the way but happy to finally get some STEEM converted to Litecoin ... especially since the price of Litecoin has dropped.
It is VERY confusing, but once we sat down and went through the process step-by-step then I did the process alone with him watching and guiding, it became less intimidating for me.
I told him I will attempt another transfer and purchase in a week and see how I do... but of course with him on the other end of the phone- just to be cautious
Your picture tutorial is excellent! thank you again
You are very welcome. I will only do very small amounts - $10 at a time if Bitcoin or Litecoin drop .... I prefer to have my STEEM and SBD available to transfer to my Steem Power on Steemit.
I like Coinbase because you are insured up to $250,000 with FDIC ...https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-
Definitely a positive with the FDIC backing but I have issues with the financial institutions personally. I don't like to keep our money there. Just enough to pay the bills. I have trust issues with government based institutions. This is why I am trying to learn about cryptocurrency as an alternative.
thanks for the link. I'll be checking it out.
Yes .... Somebody needs to invent a way to insure our deposits though. A crypto insurance ?