How to convert STEEM to BITCOIN on bitshares | save $6 withdrawal FEES by using BITSHARES exchange instead of bittrex Exchange
Ever since I read about bitshares and watched videos about how it works and it's importance, I haven't stopped using it.
Currently my top 3 cryptocurrency exchanges are bitshares, binance and bittrex. I've already written about binance on my blog and how to make money from it, but right now I want to teach how to convert steem to btc using bitshares and save $6.
Currently I use bitshares for converting steem and sbd to bitcoin because of
- It's decentralized nature
- I get 80% of all your transaction fees back
- It can also be used as a wallet.
- 50% referall bonus.
how to convert STEEM to BITCOIN on BITSHARES
1. Create your bitshares account and backup your account
Creating a bitshares account is easy, just click here
2. Click account by the top left corner
3. Click deposit beside open.steem
4. Copy username and memo
5. Go to your steemit wallet and send steem to the username and paste memo copied into memo on steemit
Deposit should take about 30 seconds to reflect
6. Click btc and click open.steem
7. click your steem balance under sell open.steem and then click sell
8. steem sold shows at the top right corner
9. Click account to view your bitcoin and click withdraw
10. Paste your bitcoin address and input the amount you want to withdraw minus fees
11. click confirm (cheap fees)
withdrawal on bittrex currently is 0.001 BTC = $7
Using bitshares saves you more than $6 Because withdrawal fees on bitshares is currently 0.00001.. BTC = $0.09
Losing $5 or $6 to transaction fees might look like a small money but if you need $1000 in your savings account, you'll need be saving $5 for 200 times.
Click here to register on bitshares
Thanks for reading
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This is very very helpful... I wonder how long it took you to put this down for us.. Thanks a lot!
I just have to resteem for others to see!
I'll have to transfer my coins there!
Mehn it took me hours oh,but I had to do it to help answer those that have been asking me how I avoid paying $6 withdrawal FEES on bittrex
pretty impressive! I guess the only difference is the speed...I don't know ...how much time it takes to transfer? Is it the bigger the amount the slower the transfer?
I think Bitshares has the smallest fee ...don't know about Binance..
I know it takes hours ...sometimes days ..lol
good karma to you!
I meant it took me hours to put the post together
haha yes I understood you at first ! sometimes it takes me hours to post 1 picture hahaha.. sorry for not being clear ;)
So Bitshares transactions are fast?
I never tried but probably will after the fork if the steem price goes up..
OK no problem
Right on point bro. Thanks for the insight. Upvoted and resteemed.
Thanks for helping me resteem. I'm grateful @fessikay
Thanks bro @samstickkz for thiis information, though i'm not ready to do any transactions yet, but i can save it in my bookmark for future purpose.
Tomorrow is my birthday, remember to bless your boy.
Wow happy birthday in advance bro
Resteemit good info
for resteeming @juanmallorca
Excellent work there @samstickkz .Thanks for sharing. I would be needing this info soon, resteeming right away✌
Thanks for resteeming dear. How's your day going
well detailed post bro, I just followed, Upvoted, and resteemed this
Thanks for the resteem bro
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Here you hit dear. Really I don't know much about bittrex, but now with this post i can be able to work with it. Thank for sharing
You're welcome sir
What about blocktrades? I never tried it myself, but I think it is the easiest way to convert SBDs to bitcoins or altcoins. Could be more expensive though.
I hardly use blocktrades for conversion
Interessing post . Thank you for sharing!
Thanks for reading @barca