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RE: The Steemit Dream, is it still alive?
@pandorasbox I am just wondering how many days exactly does it take to have the crypto-money converted fully into $?
@pandorasbox I am just wondering how many days exactly does it take to have the crypto-money converted fully into $?
That depends on how you do it really.
First you have to send your STEEM or SBD to a cryptocurrency exchange like Bittrex.com, then you can sell it for Bitcoin. If you have the STEEM or SBD on your account on Steemit, this can be done in about 5 minutes or so.
Once you have it sold for Bitcoin you can do whatever with it.. Either keep it as Bitcoin, buy a different crypto, spend it on something, or sell it for cash.
I personally don't sell any crypto ever, but if I were to be so inclined I would find a website in my country that offers to buy/sell Bitcoin. Usually when you can buy Bitcoin from a site, they also allow you to sell Bitcoin. They take some fee, sure, but that's how you get it deposited on your bank. How long that takes is up to the individual companies, bank systems, etc. But it shouldn't take longer than a few days
Noted. By the way, can we not have full anonymity upon converting into $? I am wondering if that is a possibility.
Don't count on it, unless you somehow do it person-to-person (google 'localbitcoins', I think it offers this service).
But everything that makes it deposit on your bank account will forego any anonymity you had.
This whole blockchain and cryptocurrency thing I would not care listening to my college instructor if this was taught 10 years ago in school.
But now it's kind of we're obligated to study it outside the school. The irony of life.
It's not that hard really.. It is about as confusing as the internet was in the early days. Back then people were mighty confused when you talked about e-mail and servers and how it all works.
Once you've done it once, you will be able to do it pretty easily after.
Also, in the near future you don't have to cash out into fiat anymore. Just get a TenX credit card and deposit your crypto on there, and just do grocery shopping or whatever with it! No need to convert to dollars.
What is that TenX thing? I never heard of that before.
It's a credit card for cryptocurrencies! Go have a look here: https://www.tenx.tech/
TenX runs on a blockchain too, so it's got it's own cryptocurrency called PAY as well.
Thanx for this info. Will definitely check it out.