How to send STEEM from steemit wallet to binance
With the recent boost up of STEEM price, it is time to realize your hard work into some fiat money. Let's see the steps in today's steemit in a minute.
How to send STEEM from steemit wallet to binance
Binance is one of the cryptocurrency exchange that support trading of STEEM. It is easy to use. Since it involves monetary transaction, it is highly recommended to use 2 factor authentication (2FA) to login. The simplest 2FA is to receive a code via SMS message as a second factor. I will skip the details of the registration part as it is quite straight forward. Let's directly go to the transfer part.
Once you successfully open an account on binance, click Deposit on the top menu.
Binance supports a long list of cryptocurrencies. In this example, select STEEM to deposit.
A scary message box in red will then appear. Don't worry, this is to highlight for your attention about two important points:
1 - Transfer to the exact deposit address as shown
2- Transfer with the exact memo text as shown
It is important to make sure both the deposit address and memo text are correct. Otherwise there is no way to undo the transfer. Your STEEM will be lost forever!
Click the red button "I understand, continue".
Both the deposit address and memo text will be shown. The above screenshot is only for illustration. You should check your own deposit address and memo text at binance by following above steps.
The steps of transfer from steemit to binance is exactly the same as transferring STEEM to any steemit account.
Once again, make sure both the deposit address and memo text are exactly as what you see in your binance deposit page.
After clicking transfer, it took less than 10 minutes to complete the transfer in my case.
At the time of writing, transferring STEEM from steemit wallet to binance does not involve any transaction fee.
Once you have got STEEM transferred to binance, you can start trading.
Beware of the transaction fee when you start trading trading.
Thanks for reading!
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Sounds good but that is only half the journey. Show us how to turn it to Fiat money. Now my money is locked up in an exchange and i have no steem power . That is like a bad case of cryptoblueballs.
:)
In the binance case, we can only trade steem for other cryptocurrencies like bitcoin and ethereum. It will take another step to trade that to fiat and it involves another transaction cost. I will share that part later when I have a decent amount to exchange. Thanks for visiting my blog :)
the red message is really scary ar....XD
yeah, bleeding red...
Hahaha just in time! I was just looking for these things.
Yeah, its about time to realize our effort. I hope you make some profit :)
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