If you had to go from FIAT to STEEM what would be the route in your country.
As of yet, it's not possible yet to buy STEEM directly with Fiat.
When I want to buy STEEM in the Netherlands I have to buy Bitcoin first and use an exchange or @blocktrades to get STEEM.
This is my route:
- I buy my BTC instantly with my bank account at www.bitonic.nl (Dutch BTC provider) and then sent it to my BTC wallet.
- From my wallet, I either sent it to a cryptocurrency exchange or use @blocktrades service: https://blocktrades.us/ to convert my BTC to STEEM and sent it to my account.
The Netherlands is pretty crypto friendly and going to crypto from fiat is pretty easy (and the other way as well).
I was wondering this morning if you guys had to go from Fiat to STEEM what would be the route?
Is it difficult? Is it easy?
Please share and name your country.
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I've been using Coinbase but for future deposits, I'm thinking about trying cryptovoucher.io
@oracle-d got them to list STEEM as a currency you can buy with fiat, using a voucher.
100 EURO will get you 264 STEEM this morning.
That's 112 $, and at the current price of .41 STEEM / $, you would get 273 STEEM without commission.
273/264 is 1.0347 - 3.5% commission, which I think isn't too bad?
I should probably test the process eh? :D
Thanks for pointing this out!
https://cryptovoucher.io/
3,5% is decent I guess, especially if it's easy to get.
If you try it out let me know!
Thanks for getting the link right, updated mine.
Will do - A blog to walk through the process could be on the cards to see if I can put a little extra on top :)
Cool, let me know when you do!
Just looking at the process, need a shave and a shower before I go through with this part :D
I guess that is standard? Can't remember if Coinbase wanted ID (I think so).
I’ve used Coinbase (I’m in the u.s.) since I started in crypto. I just documented the last time I purchased Steem about 1 week ago and plan to write about it... the fees and hassle are absolutely outrageous.
In total I paid over 7% in fees to buy ETH on Coinbase, send it to Binance and then buy Steem. Half of those fees came from Coinbase and the other half came from my bank account, which actually charges me for specifically buying crypto, labeling it a “foreign transaction”.. needless to say, I hate banks 🙄
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@exyle,
At this moment it's impossible to my country! The Central bank blocked all ways to pay outside, so we are just earning by blogging and that's all :/
Cheers~
No no no, everyone is doing it wrong.. buy packs on steem monsters, sell those on steem-engine, concert that to sp... 1% twice in fees and golden!!
Ok, this is just theory crafting. But sounds perfectly viable to me. ^>^
Sidenote: I'm American, so I use coinbase like all the other good kids. LoL
Haha! That's an interesting way! If you can sell all those packs for $1,99 it's not a bad fee to go to STEEM. We need some more volume though on those tokens.
interesting idea, but i would probably not sell the cards. i would be like uuuu shiny i need this 😀
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I deposit money to coinbase, then buy BTC on pro, then transfer to binance and trade for steem, then withdraw to my steem account.
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Thanks!
What are the overall fees on your route?
Mine:
1.FIAT to BTC on CEX-IO,
2.CEX-IO to Bittrex,
3.Bittrex to Steem Account
More than 10% fees on that one.
Wow! That's a lot!
The fee for buying BTC with Euro is about 0.7%. Roughly 35 euro on 1 full BTC compared to the price on an exchange.
From there it's standard exchange fee's.
Yes it is .... I can buy from locals, and in that case it is 5%, but it is to much trouble arranging meetings :) .... only for a large sums ...
If you have a Wirex card in the UK you can link your bank account to it and transfer money in then convert to BTC/LTC in the app and send to blocktrades for steem. No idea the fees though. Think it's a poorer exchange rate on Wirex instead of out and out fees
Good tip!
Its pretty much the same here in South Africa, I can buy BTC or ETH with either Luno or CoinDirect and then send it to blocktrades. CoinDirect also allows you to buy Steem with fiat but you cannot send it to STEEM they don't have the facilities for that for some reason, I enquired about it a while back they said they would look into it, seems pretty sily
steem ➡ btc ➡ fiat
That's the wrong way ;)
yup! 😆👍📈
well I use Lykke (a swiss exchange) and they feature Steem but sadly there is no liquidity otherwise you could do everything on one exchange
But I buy and store my BTC with them
then send BTC to binance and trade Steem to send to my steem account
Switzerland is also supported by the service I use which is pretty interesting for most Europeans.
Let's hope the liquidity (and volume) on STEEM will pick up in the future.
In Nigeria, turning Steem into fiat is as easy as eating a burger 🍔 as we have many Steem traders hunting for steem sellers, some people have also started buying and selling with Steem.
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