How to Cash Out Steemit Rewards as Real Money? {Steemit Withdrawal Guide}

I have been approached by many people to publish a tutorial on how to withdraw cash from Steemit. Add to the list the amazing @kus-knee who shared his own experience of spending Steemit earnings in the real world in Europe. If you are from his region, his post is a must read for you. As far as my tutorial is concerned, it will help everyone located anywhere in the world.

concerned, it will help everyone located anywhere in the world.

For the sake of simplicity, the whole tutorial is divided into three main parts. These are the three larger steps that you need to take but they contain within them the smaller steps. Each step is further divided to numerous mini steps to create a step by step procedure. A visual guide will follow the three main parts. By end of this tutorial, you will know how to withdraw your Steemit earnings.

Note: - This tutorial uses Poloniex as exchange and Steem Dollars as the currency to withdraw. You can use Bittrex, BlockTrades (do see procedure at the end of this tutorial) or any other exchange. Similarly, you can use Steem as the currency in place of Steem Dollars. Procedure will be same.

Disclaimer: Poloniex sucks and the only reason I have used it is that I had done all the homework on Poloniex. Bittrex is way better and the procedure of Bittrex is similar to the procedure described in this post for Poloniex. @blocktrades is the quickest eexchange. Poloniex regularly disables deposit/withdrawal of Steem and Steem Dollars as well.

Step # 1 - Transfer Steem Dollars from Wallet to Crypto Exchange
The first thing you need to do to cash out your Steem Dollars (or Steem) is to send them to a crypto exchange. This transaction will shift your balance from Steemit wallet to your account on the cryptocurrency exchange. It will happen only if you follow the procedure below. One error and your money is gone so always take the steps carefully.

Go to the Wallet>Steem Dollars>Transfer in your Steemit account.
Sign in to your Poloniex account. If you don't have an account, sign up for one.
After signing in, go to Balances>Deposits & Withdrawals.
Search or Click SBD and the click Deposit. A Deposit Memo will appear. Copy it.
Go back to step number 1 and paste the memo in the memo field. Enter "poloniex" (without quotes) in the Transfer To account name. Enter the amount of SBD that you want to transfer.
Verify spellings, correction of memo and amount and the click Submit.
Wait for at least 15-30 minutes. Due to backlog, you may face delays.
Check your SBD balance by going to Balances>Deposits & Withdrawals.
Let's quickly go through the process visually as well to understand the process.

Here's the step # 4 from the above procedure explained visually.

And here's how the step # 5 looks

How to Cash Out Steemit Rewards as Real Money? {Steemit Withdrawal Guide}
ilyastarar (64) in howto • 10 months ago
I have been approached by many people to publish a tutorial on how to withdraw cash from Steemit. Add to the list the amazing @kus-knee who shared his own experience of spending Steemit earnings in the real world in Europe. If you are from his region, his post is a must read for you. As far as my tutorial is concerned, it will help everyone located anywhere in the world.

For the sake of simplicity, the whole tutorial is divided into three main parts. These are the three larger steps that you need to take but they contain within them the smaller steps. Each step is further divided to numerous mini steps to create a step by step procedure. A visual guide will follow the three main parts. By end of this tutorial, you will know how to withdraw your Steemit earnings.

Note: - This tutorial uses Poloniex as exchange and Steem Dollars as the currency to withdraw. You can use Bittrex, BlockTrades (do see procedure at the end of this tutorial) or any other exchange. Similarly, you can use Steem as the currency in place of Steem Dollars. Procedure will be same.

Disclaimer: Poloniex sucks and the only reason I have used it is that I had done all the homework on Poloniex. Bittrex is way better and the procedure of Bittrex is similar to the procedure described in this post for Poloniex. @blocktrades is the quickest eexchange. Poloniex regularly disables deposit/withdrawal of Steem and Steem Dollars as well.

Step # 1 - Transfer Steem Dollars from Wallet to Crypto Exchange
The first thing you need to do to cash out your Steem Dollars (or Steem) is to send them to a crypto exchange. This transaction will shift your balance from Steemit wallet to your account on the cryptocurrency exchange. It will happen only if you follow the procedure below. One error and your money is gone so always take the steps carefully.

Go to the Wallet>Steem Dollars>Transfer in your Steemit account.
Sign in to your Poloniex account. If you don't have an account, sign up for one.
After signing in, go to Balances>Deposits & Withdrawals.
Search or Click SBD and the click Deposit. A Deposit Memo will appear. Copy it.
Go back to step number 1 and paste the memo in the memo field. Enter "poloniex" (without quotes) in the Transfer To account name. Enter the amount of SBD that you want to transfer.
Verify spellings, correction of memo and amount and the click Submit.
Wait for at least 15-30 minutes. Due to backlog, you may face delays.
Check your SBD balance by going to Balances>Deposits & Withdrawals.
Let's quickly go through the process visually as well to understand the process.

Here's the step # 4 from the above procedure explained visually.

And here's how the step # 5 looks.

That's it for the transfer. Follow points 7 & 8 above before moving to the next big step.

Step # 2 - Sell SBD for BTC
Now that you have SBD in your Poloniex balances, it's time to sell it in the market to get Bitcoin. Follow the steps below.

On Poloniex, go to Exchange.
Search or Click SBD.
On the left side of the screen will appear a price chart. Scroll down. You'll find Buy and Sell options.
Go to the Sell box and fill up the fields and click Sell.
When the order has been completed, go to Deposits & Withdrawals to see BTC balance.
Let's see through screenshots how these simple actions are performed. All 5 steps lead to the following screenshot.

That's it. After some time, check your BTC wallet (that you used as receiving address on BlockTrades) balance. Once you have BTC on your selling exchange, the process to sell them for local currency is same as already highlighted.

Conclusion
It is fairly complicated to cash out Steem or Steem Dollars but the procedure I have shared will surely enable everyone to cash out Steemit earnings. Some people, like @charles1, have been talking about a Steem Debit Card to cash out directly from the site but it's just a raw suggestion at the moment.

You can read about this argument here and here. Some people have shared their experience with payment cards like Bitwala which accepts Steem. This may well be a good fix for you. Read more at Bitwala is now accepting Steem!

Anyways, there will always be three things you need to do to get cash from your Steemit earnings.

Transfer your Steemit currency to a cryptocurrency exchange.
Sell it to get BTC.
Send BTC to BTC exchange and sell it.
I hope this post solves a massive Steemit issue faced by so many people; many of whom requested me to create this tutorial. It took me quite a while to finalize this post. It solves a community problem so I will request you to resteem it. Upvoting on community posts supports the author's work so please do support generously.

Thanks for visiting my posts...