Wirex Plastic Card And How To Cash Out STEEM / SBD
Ever since we started with Steemit I was wondering what was the easiest and fastest way to get fiat for your Steemit cryptocurrencies. I considered coinbase and bitpanda but then heard about the plastic visa debit card from Wirex.
I signed up and went through the whole verification process and after a few days later I received the card. If you opt for their virtual card the account is free. But I wanted to have an actual plastic card I could use for physical payments and money withdrawals from ATMs to get hard cash.
I opted for the Euro Plastic card, which ships for free to your address and there is a monthly fee of 1,20 Euro. Which I'm more than willing to pay in exchange for convenience. Because convenient it is. I know it's the worst time to sell SBD but I've been working hard on the Steemit platform for over 6 month and I felt like it's time to reward us with a weekly lunch paid by Steemit.
I've used the card now three times and that's super easy to turn your Steemit earnings into good old cash, since Wirex has a BTC and Litecoin wallet. So this is what I do using my earned SBD (but the process is similar cashing out STEEM) to load up the plastic card. One more tip before we start. Feel free to use a small amount to make sure it's all working correctly.
Under my wallet on Steemit I went to my SBD (STEEM DOLLARS) section and pressed the drop down and then pressed SELL, which leads you to the @blocktrades market.
There you can chose via the left input field what Steemit currency and how much of it you would like to sell. Via the left input field you can choose what cryptocurrency would like to receive in return. I've chosen Litecoin because I think it's faster and the fees (?) are less.
Now head over to your Wirex Litecoin Wallet and copy your Litecoin Wallet Address (use the copy button to prevent mistakes)
Head back again to the @blocktrades market and enter the Litecoin address you copied from your Wirex Litecon Wallet and press the "Get Deposit Adress"
A new page opens and then I used steemconnect by entering my username to finalize the transaction.
Now this transaction needs to be confirmed at least 6 times in the blockchain before it's confirmed. The first time I did it it was almost instantly but the last time it took almost 1 1/2 hours.
Wirex will send you an email once the Litecoins arrived in your wallet. Now go to your Plastic Card dashboard (in my case it's called EUR Accoun) and press and exchange currencies. A new page opens, now choose on top via the "FROM" button Litecoin and "TO" EURO. Enter the amount and hit EXCHANGE.
That's it. The amount is linked to your card and you can start using it! You'll find your pin via their website under card details or on their app when you're logged into your account.
I really hope you find this article helpful and it wasn't too confusing and made sense. Free free to leave a comment if you have any questions. And if you would like to sign up for a Wirex account feel free to use the link below. Disclaimer it's an affiliate link! But I hope you don't mind in return for my efforts.
Wirex Plast Card: ORDER HERE
P.S. Please keep in mind that I'm not a cryptocurrency expert, feel free to correct me if I'm wrong or if you have a better option.
P.S.S. Soon I will be writing a similar post on how to buy STEEM or SBD using Wirex.
P.S.S.S. Almost forgot, every time you use their plastic card they will give a 0.5% cashback paid in Satoshi.
wirex is issuing cards for very few countries , that sucks
You got a 33.34% upvote from @proffit courtesy of @maski!
2-25% Return on investment. Check steembottracker.com for current status
Minimum 0.01 SBD/STEEM to get upvote , Minimum 1 SBD/STEEM to get upvote + resteem
Wow! This is so awesome! And just so you know, it all made perfect sense :) My voting power is dismal at the moment, but I'm going to resteem this in the hopes of it getting more recognition.
Thanks again for the information!
so it sounds like the convenience is being able to refill the card when it runs low by walking through the conversion process from STEEM/SBD to the crypto of your choice to the card where you put the fiat on it. The need to exchange STEEM/SBD for a crypto before you get to fiat still exists.
Is this process any faster than it would be just depositing the once converted fiat funds into a bank account? Or is the whole idea to avoid the bank account?
Kinda made me think about getting one myself. Not for cashing out Steem coins related, but just like that :).
very interesting this information, I did not know it. I really like that this type of technology exists, which makes it much easier for us to use cryptocurrencies
You do have to jump through couple of hoops but I find this option the fastest and cost efficient. How do you withdraw your Steem currencies?
I am currently holding and sometimes I exchange them for bolivares through "orinoco cambio"
Right now holding is the best strategy BUT I feel like after spending so much time on here I deserve a lunch a week :)
I’m sure this will become much more prevalent in the market. Check this out @ameliabarlett
Great info! I didn't know about the wirex card and will check that out;-) Cannot wait to find out more about this topic in your next post! Thanks for sharing:-))
Happy you thought it was helpful. I'll try to write the howto buy Steemit Currencies with Wirex.
Thanks a lot, @for91days!
I bookmarked this post to check out the details tomorrow - this sounds really interesting!
I'm quite sure already I will give it a try!
Wow that's cool! I was really searching for the most convenient way of using crypto in my future travel, and that seems to be it! Especially that I can cash out without government's knowledge.
Sadly though, the government will know because you have to provide proof of identity.
But if I send my crypto to this company, they will not get in touch with my bank account. So I think they won't know until Wirex decides to share with them voluntary . My government wouldn't even know where to ask, right?
I use the GPB card it's amazing and works great nice to see a fellow follower best of luck 💯🐒