TUTORIAL | How To Convert Your STEEM/SBD To Fiat And Withdraw On mysteemx.com
Good day everyone, it is a good thing that our global STEEM/SBD – Fiat gateway is live and running. However, we have received some feedback that has necessitated us to do a tutorial on how to use www.mysteemx.com. We also have a video below in the post but before the video users who can’t access it can simply follow these basic steps.
The following steps are based on the assumption that user already registered and own an account on www.mysteemx.com. For those who do not own an account simply click here to begin then come back to this page to follow the process below;
1. Sign in to your dashboard
2. You should see a page similar to this showing your steemit profile and your balances with us. Also, there is a 2 day chart below that updates every 2 minutes.
3. Scroll down the page and copy your unique memo from the Deposit tab on the Dashboard.
4. Send your STEEM and SBD to "steemexchanger" on Steemit.com using your unique memo.
5. After completing the transfer, return to your SteemX dashboard and click "I have made a transfer" button.
6. You will be credited with the amount of STEEM or SBD you transfered to steemexchanger on Steemit.com.
7. Go to the Convert tab on the dashboard and convert your SBD or STEEM to USD
8. You will be credited with the USD equivalent of the STEEM/SBD you just converted.
9. Go to the Withdrawal tab and add a withdrawal account if you've not done so.
10. You will get a message at the top of the screen showing that your account have been successfully added to your SteemX profile.
11. Click on withdraw button to input the amount you will like to withdraw.
12. Select your desired payment option. However, for now we only have PayPal available.
13. Input the amount of funds you wish to withdraw in the dialogue box.
14. Your withdrawal will be processed automatically within 1-30 minutes after request.
All you need to do at this point is to wait for your funds to arrive in your PayPal account. This shouldn’t be more than 30 minutes.
You can also watch the video tutorial here;
STEEMCONNECT UPDATE
One more thing before we sign out is that we will be integrating SteemConnect in a couple of days for users who wish to sign in using SteemConnect. This is also a response to the feedback we have been getting from our users.
Thank you for reading and we are looking forward to have you try our service on your next transaction. This is coming to you from the SteemX team and we are committed to fostering a global STEEM adoption by improving the utility of STEEM and its tokens.
Hey @steemexchanger.
Integrating steemconnect into this process is a great idea. Thank you for putting forth this service. It will be good to be able to go directly from STEEM/SBD to fiat at whatever point I might do that, instead of using two exchanges and converting to another alt coin first.
You don't have the fiat to STEEM/SBD option yet. Is that a little trickier to do then? Any idea when it might be available?
Also, regarding conversion fees. Are they combined total between your fee and the gateway fee for each conversion?
@glenalbrethsenSteemConnect will be integrated in a coupled of days. The fiat to STEEM/SBD will also be available soon. Regarding the fees, you can visit the FAQ section on our homepage mysteemx.com. Thanks for the feedback.
Will the ability to purchase Steem with fiat also be structured through PayPal? I have to say if I could use PayPal and avoid the hassle of Coinbase to Binance To Steemit that would make things so much easier.
Thanks for resteeming this @glenalbrethsen. I had never heard of this before.
we do not have a plan to integrate PayPal as a receiving mode of payment since payment via PayPal could be reversed. We are already working on a partnership with a payment processor for receiving payments ---( processor that accepts integration with crypto-powered service like SteemX)
Ahh, then I will probably just stick to using you the other way if I ever decide to cash some out. Wasn't looking to link my debit/bank accounts to any more services like an exchange or third party system. Especially if I have never heard of them, such as the case with SteemX who is unknown to Google as well. Still sounds useful for cashing out though. :)
Thank you @practicalthought. We've been in operation for over 7 months in Nigeria and Ghana via steemexchanger.ng and steemxgh.com. You should find those on Google. mysteemx.com is our global version and still new.
Hi. How do I buy steem with cedis on steemxgh?
We're making an upgrade on all our payment receiving methods. So for now the "buy STEEM" option isn't available to users in Ghana.
Okay. Thank you for that information. I did check out the FAQ. That's why I was asking if yours and the gateway's fees were combined, since they're listed separately. You take yours and they take theirs. As it should be. :)
SteemX charges and Gateway charges are two different things. You'll have to add them up to get the sum.
Okay. Very good. Thank you very much. And I wish you well on this whole endeavor and I do plan to check you out when all of your services are online. (I'm probably not going to be cashing out STEEM in the immediate future, but who knows, it could happen sooner than I think. :)
This sounds great. A needed tool for the community!
Thank you @wizardave. You can visit the FAQ to know more about the fees involved.
hey @steemexchanger , your service is good but, fees is too high ...
for purpose of test i have sent 1.6 STEEM and converted to $ Dollars ... and after conversion i got $1.29 ...
then withdrawn $1.29 to my paypal account ..
and iam shocked ...
i only get $0.87 and fees charged $0.47 ... uff chanrges are too high ...
you can see this snapshot -
We appreciate you for taking out the time to test our service, however, the charges levied by paypal is dependent on transaction volume and become less noticeable when the transaction size increases. You can find a reference to that on https://www.paypal.com/ng/webapps/mpp/ua/useragreement-full#exhibit_A
We attached screenshots of bigger withdrawals which happened today for your perusal.
@steallion
OK thanks I understand...
PayPal charges for every payment... Hmmm..
What are the fees/cost?
@rok-sivante we our charge is 1.8% while other Thrid-Party gateway charges is 5%. You can find more about our term on us on the FAQ section of our homepage.
Thanks. ⭐️
what's with the 5 cent price difference between main exchange prices and that listed on the website?
is that where the fee is considered - or is there still another 1.8% docked after that difference...?
You guys are really doing a great job. 👍
Feel free to follow @girlsfoundation and also use the girlsfoundation as one of your tags.
Courtesy of @raymondbruce @faetee
Thanks for the feedback @girlsfoundation.
It would be great to see more options besides PayPal. I don't use PayPal so will wait to see what is added in the future.
I also worry that PayPal will shut this down quickly as they have an anti crypto stance.
We send USD or your local currency to your PayPal account just the way you receive money from your friends and family using PayPal.
Hey, thanks for the quick reply.
We currently have support for Square Cash and Zelle pay which will be active for use in the coming weeks
This is a great service you are providing and I'm glad to see it offered. I'm glad you'll be incorporating signins through Steemconnect, and adding more gateways, and I appreciate your transparency regarding your fees.
This is indeed a gamechanger.
Posted using Partiko Android
Thanks for the feedback @crescendoofpeace. We will be rolling out more features as we've promised.
Looking forward to hearing more about it as you go along.
This is a welcomed shortcut to cashing out! Thanks for getting it into place. I will keep checking to see how the additional services progress.
Thank you @willymac. We hope to see you soon. We will also be rolling out more features as we've promised.
This is a gamechanger.
This can be future for Steem and crypto community! :D
That's absolutely feasible @mardax. Looking forward to your next transaction on our platform.
Fantastic! :D