Is there an exchange where we can trade STEEM and SBD directly to another currency without having to convert it to Bitcoin first?
With the slowdown of the Bitcoin blockchain and the cost of doing business on it, I'd like to be able to exchange SBD with other alt coins, like Etherium.
As far as I can see - on Poloniex you have to convert to Bitcoin first. Is it the same on the other exchanges?
If you know of one that is reliable (yeah right) and trustworthy (good luck with that) then let me know.
I want to try and set up an end-to-end process of getting my SBD into a bank account (and back again) so that when it comes time to draw down some SBD (I'm going to need it to pay some bills soon I think) I can do it easily.
Thanks.
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Just use Blocktrades to exchange into Litecoin. It’s similar to Shapeshift. I use it all the time to convert Steem to Litecoin since it’s so much faster and less fees than BTC and ETH
I usually compare this option with sending Steem to Poloniex/Bittrex and exchanging it into BTC then to LTC.
Thanks. So it looks like I have to convert to STEEM first and then go to Blocktrades huh?
On Blocktrades, there's the option to send SBD and receive LTC in exchange. I've only ever exchanged STEEM, but I'm sure it's the same thing.
Oooo... That could work. Thanks ;-)
Although at the moment it's saying "Temporarily Unavailable", I used https://blocktrades.us to transfer STEEM to ETH into a wallet given to me from https://www.livingroomofsatoshi.com who put it straight into my bank account.
https://www.livingroomofsatoshi.com have a STEEM option too so you could do it in one step, but when I tried it, I received a message that STEEM was not available for use at the moment, so I had to do the ETH conversion first.
Might work for you?
I'll check out Blocktrades and see what I can do. Thanks. I think I have a wallet to bank account solution (waiting for confirmation of signup). But I'm trying to streamline the process so I'm not swapping between currencies too much.
Cool, let us know what you end up using.
It's useful to have something that can do it all in a single step.
Hi @trevor.george I honestly don't think so. I think all trading works through bitcoin/Ethereum. You have to convert sbd or steem to a currency first before you can sell for your own currency.
I'm fine with going to Etherium first. I just want to skip out going to Bitcoin. From what I can see, I can only swap SBD for Bitcoin.
Once it is Bitcoin then I can swap to anything. But it is slow and costly, so I'm trying to find another alternative for that step.
how do you think about the price of sbd and steem in early 2018 this?
I think the price is pretty good ;-) It is interesting that BOTH currencies are now trading at almost the same amount.
2018 is looking like a very good year so far ;-)
As you mentioned, it seems like you can exchange Steem for ETH on Poloniex. That's not the case for SBD though. I'm not aware of any other exchanges with other pairings apart from BTC. I agree with @masteranibal. Blocktrades is probably your best option.
Thanks.
You could just convert steem/sbd into BTC then into anything else. It won't take too much fees as you are not transferring the Bitcoin to another address.
May be we will have to create a separate site or app to find people who can exchange for local currency just like Bitcoinlocal.
I'd love an option in Steemit to export to my bank account and have it converted into kiwi dollars right on the site. That would be a killer app!
Learn well, you could be doing more, soon.
Check out www.cryptopia.co.nz - you won't be able to buy Steem direct, but that could be a good option for getting fiat in and out. So far we've only traded between coins there, and haven't checked out the bank account aspect, but I think there is one. It's on my list...
I think I might have a solution. I'm trying out https://dassetx.com/
The seem quite legit. I'm gong to open an ANZ bank account (that's the bank they use) so any transfers should be pretty much immediate.
I'll let you know how I get on with it.