This is just an example on how you can withdraw your Steem Dollars (SBD) from Steemit to Bittrex website. Let’s begin.
Login to your account at Steemit.com website, first check wallet if you have funds in your SBD account. As shown below I have 22.803 STEEM DOLLARS, this is my current funds at steemit.com website.
For this HOWTO article, I will only transfer 20 SBD to my account at Bittrex exchange. Of course, you may use other third party cryptocurrency exchange to transact your SBD as long as they support it.
I will login to my Bittrex account to get my deposit address information. In Bittrex, click on Wallet and you will see the most well known cryptocurrency on the market. Use the search field to look for SBD. You will see something like this.
Click the (+) button to get the deposit information.
Bittrex provided notice about their deposit recovery policy. Basically if you make mistake sorry your token is gone, anyway just read the policy. So be careful, and follow the recommended deposit procedure.
In this example, Bittrex wants me to use the following information for my SBD deposit.
- Memo – 1892867242ec4c54985
- Registered Acct – bittrex
Go back to my Steemit account, and initiate the transfer. I am sending 20 SBD to bittrex using the memo provided in previous step e.g. 1892867242ec4c54985. If you don’t have the memo, you will see a red notice that “You must include a memo for your exchange transfer.” so you can proceed.
Click Submit to deposit.
Enter your owner password, click on SIGN IN to execute. The 20 SBD will deduct to my current balance, and you will see the transaction in your Wallet history.
Now, let’s go back to Bittrex account and refresh your Wallet for SBD. If everything is ok, you will see your deposit.
Before, no SBD deposit.
After, with 20 SDB on my Wallet.
From here, I can use Bittrex exchange to convert my SBD to BTC to ETH or USD (fiat money).
Here’s the step to use the exchange to convert my SBD to Bitcoin (BTC).
In Bittrex, click on Bitcoin Market. Use the Search field to find SBD.
Click on the SBD to display more information.
In the lower right corner, here we can sell the STEEM DOLLARS (SBD) to BTC. In here, I click on MAX to sell all my SBD funds under my account. See below. You will see the estimated equivalent to BTC, in this case it is 0.00506052.
If everything looks good, click on Sell SteemDollars button.
Click on Confirm to proceed the exchange. Wait for a few minutes to complete the transaction, then click on Wallets and check our BTC funds. Now, we can see some token in our BTC available balance.
Now you can convert BTC to any other cryptocurrency or to US Dollars. I can simply deposit my BTC to my Coinbase account. From Coinbase, I can convert from BTC to USD and deposit to my Paypal or Bank account.
Or you can deposit your BTC to your local wallet.