Two weeks on Steemit - attempting to cash out!

penny-rose (55)in #steemit • 7 years ago

I havent been posting my daily/weekly updates, mainly because there isn't much to report on, but I decided to try to cash out on my Steem Dollars the last few days and I'm having such a nightmare!

I'm a noob to cryptocurrencies - in fact, they scare me!

So, first of all, I found a brilliant post by @abarefootpoet who explains how to open a CoinBase account and such to convert your Steem Power or Dollars into real cash.

I started following the post word for word - opened up a CoinBase account, and first of all had massive issues getting my account verified. My webcamera isn't very good and it was having difficulty reading my ID.

Now today, I have finally managed to get my CoinBase account verified and I've found out my PayPal won't link up! I can add my bank details to the account (although I'm not 100% happy having that on there due to the horror stories I've read) but I cannot seem to add PayPal! And there is no way to ask CoinBase for help!

I did read that the accounts have to match up - so I have to have the exact details in my PayPal to my CoinBase - which I am sure it does! I even double checked my address and mobile number. But I am faced with just this screen:

Imgur

Any ideas?

Or can I just add my bank details and transfer into my bank account instead? Isn't there a higher transfer rate compared to PayPal or have I misunderstood something?

Thanks in advance!

#bitcoin #cryptocurrency #steem #money

7 years ago in #steemit by penny-rose (55)

$0.00

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olayar (47) 7 years ago

I have never withdrawn any but I will try to help. I do not think you can withdraw to Coinbase since they do not have Steem in their exchange. So I believe these are the steps;

Convert your steem to Steem Dollars.
Transfer them to an exchange like Poloniex or Bittrex (I recommend Bittrex as Poloniex is becoming rather shady in their T&Cs)
Trade Steem for Bitcoin.
You can then trade Bitcoin for fiat (cash) or alternatively, you can get yourself a debit card that exchanges Bitcoin to US$ or whatever currency is most convenient (Wirex is an example of a debit card).

There is a post here with a walkthrough. Hope that helps, and sorry there is no simpler way!

$0.02

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olayar (47) 7 years ago

BTW, never be scared of crypto, it is easy as pie, as long as you are not playing with money you are scared of losing. I only started a couple of months ago, with zero knowledge and I have made around $5000 out of a $6000 investment. It is really simple I promise, some people might want to make it sound more complicated than it is, and if all you want is to get your Steem money out, it is not that bad I promise.

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penny-rose (55) 7 years ago

Thank you @olayar
I will have a look through your post later when I have some time to sit down and read it properly. It's just a little daunting having all these new terms, and opening new accounts - I only opened a Coinbase account because another post suggested I do that.
But clearly, there are others! I'm guessing that's what Poloniex and Bittrex are? Never used them before so I will check them out.

$0.00

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theleapingkoala (61) 7 years ago

Hi @penny-rose
First, congrats on having gained some SBD to help you further your work. Unfortunately I don't know anyway to cash out but I can post your question @nicnicy and #minnowsfaucet community. He is very helpful, if you don't know him, I think you may want to start following him.
I posted your question at the following link:
https://steemit.com/minnowsfaucet/@nicnicy/minnowsfaucet-community-ping-pong-aug-18
Good luck with everything :D