My first Withdraw from Steemit to Paypal!
Today I received my first money in my PayPal account.
And they were from Steemit.
I didn't withdraw all of my money...
I could decide to invest in Steem, so I'm actually not going to redeem all of my money. But I wanted that "prize" everyone wants here on the platform.
The prize that makes you feel everything you're doing on Steemit is real and touchable.
You can buy things with it.
You can have BTC with it.
You can real dollars, euros or any currency you want with it.
And that is the best feeling you can have when you failed on most of the earning platform on the net (cough... yeah, that's me).
... and sadly
Sadly, just right now, the steem value is falling down.
I mean really falling down. At this moment, it's lower then 0.85$ (meaning 1SBD is worth 0.60$).
So, when I redeemed, I didn't receive 10$ of course.
I received 6,40$ that, with applicated taxes (kind Paypal and kind other sites), turned out to be a net withdraw of 5.56$.
EDIT: I'm still not sure why they become so little.
How did you do that??
I used three websites to have my money directly on PayPal.
The first one is BlockTrades. Here you can swap Steem Dollars for BTC (bitcoins) without registering any account. You'll be asked to send the choosed amount of money to @blocktrades on steemit and you'll then receive your BTC on your bitcoin wallet.
The second site is, of course, my wallet. I choose blockchain.info for that purpose.
The third and last one is Exchagemycoins. It allows you to swap BTC for USD dollars directly to your Paypal.
I'm not sure about taxes involved in the process, but I suppose they're not so high.
Conclusion
I don't know what's next for me.
I'm adding Steemit to my "start from my 18yrs old birthday earning plan" and I hope it'll work, but as far as now I think I'll just continue to have fun in the community with so many awesome people.
If you want to chat with me, feel free to reach out at @ziogio on steemit.chat and, if you need help, don't hesitate to join #steemprentice - the channel to get and give help!
See ya!
PS: images are from Pixabay with free rights.
PS(2): i'm right back to school. I'm not active 24/24. Please try to forgive me!
I will keep these articles updated in my websites:
How to withdraw the money you earn at Steemit into USD in your PayPal or bank card?
The Tools I Am Using to Withdraw Steemit Money into PayPal
How to Buy Bitcoin via PayPal?
Good news!
Just what my girlfriend needed to know. Thank you for sharing this with us.
nice presentation and thanks for sharing
I'm glad you found it helpful! :)
Awesome, congrats. One thing I would like to see is an article that shows the process of converting Steam Dollars into Steam Power.
Just click on the little arrow after your SBD amount, select convert to Steem. You will get a message saying that it will take 7 days. Once you have your STEEM, click the little arrow and select Power Up, and you're done!
Thank you for your answer! :)
I think you can only convert SBD to BTC and then BTC to Steem Power.
You can ask about that in #stemprentice too :)
I thought Steem Dollars are supposed to be pegged to the US Dollar and when you convert from Steem Dollars to Steem you are supposed to receive the equivalent in Steem. So if someone had 10 Steem Dollars and converted it to Steem at the current rate of .60, they would receive about 16.66 in Steem which would valued about about $10 USD. I know in your situation you went a different route but am I misunderstanding the Steem Dollar being pegged to the US Dollar?
You're correct that Steem Dollars are supposed to be pegged one to one onto the US dollar, but it does fluctuate. Last I looked 1 SD is about 0.86 USD. So in this example, 10 SD = $8.60 and when converted to Steem valued at $0.60, would give 14.333 Steem.
The Steem Backed Dollar (or Steem Dollar) is it's own token that tries to hold a one to one value to the US dollar. This has it's own fluctuations of the exchange rate, lately one SD has been a bit under $1, but I've seen it over as well. So you basically have two exchange rates you're dealing with when converting SD to Steem..the SD/USD rate AND the USD/Steem rate.
Sorry if that was confusing. Feel free to join the #steemprentice channel in steemit.chat as there are people better suited than me who can answer questions. :)
https://coinmarketcap.com/currencies/steem/ here you can find the actual value of a single unit of steem dollar.
Right now, it's $0.540752 ... but it SHOULD be equal to 1$, yeah xD
I was under the impression that Steem and Steem Dollars are two different things. I also found this chart for Steem Dollars: https://coinmarketcap.com/currencies/steem-dollars/
Current rate of $0.823666.
Uh, yeah, sorry. Wrong graph.
I think your graph is the right one :) steem and steem dollars are different things, as far as I know :)
CONGRATS!
I use E-Coin.io (now Wirex) to convert my Bitcoin to USD/GBP/EUR or buy Bitcoin with PayPal (using E-Coin Virtual Visa). 🙂 I use Coins.ph to cash out Bitcoin in Philippine peso.
I haven't tried BlockTrades, I use Poloniex and Bittrex.
I also have Blockchain.info but why you need it? Meaning you cannot transfer BTC from BlockTrades direct to ExchangeMyCoin?
Thanks for sharing!
👍
Blocktrades is not a wallet, as I know. So he needs to send you bitcoin somewhere ;)
Great job. So far, I've made a withdraw to bitcoins only.
Great!
PayPal exchanges are no longer supported
Unfortunately PayPal has decided to restrict & close our PayPal account, because we are a Bitcoin company, so the only option we have, is to stop supporting PayPal exchanges.
Hopefully there is light ahead. We a currently working night & day to introduce a better alternative: Credit card exchanges!
With that you will be able to exchange crypto coins with payouts to your Master or Visa credit card.
The entire ExchangeMyCoins.com team
Hi, I agree with you, and I can testify that the above update is true: ExchangeMyCoins is no longer supported by PayPal.
This post is from last year but It still help me somehow. Thanks :)
This is really helpful