<p>https://steemitimages.com/DQmdaVpVT1JoMcryHwHmLVLAP5M4G6p3XFGoKoEkVJ1jSrH/S22-00th.jpg</p>
<p>Blocktrades the fastest way I know of to change Steem and Steem Dollars to BTC, ETH, or LTC which then are easy to buy and sell with USD.  How do I use <em>BlockTrades.us</em> to make these nearly instant exchanges of different online cryptocurrencies especially for withdrawing SBD fast?</p>
<p>I hope this quick tutorial will be helpful for you especially if you want to deposit or withdraw from Steemit quickly and even to power up SBD where you may even be able to save a little bit of money by bypassing the market and using <a href="https://blocktrades.us/"><em>BlockTrades</em></a> to make your trade directly.</p>
<p><strong>Will you read this post or watch the original video from <em>YouTube</em> to learn more?</strong></p>
<p>https://www.youtube.com/watch?v=dk8TH63OPAQ</p>
<p>Thank you very much to <a href="https://steemit.com/@gmichelbkk">@gmichelbkk</a> for converting the transcription of the <em>YouTube</em> video from <a href="https://gotranscript.com/r/61527"><em>GoTranscript</em></a> into this beautiful post for <em>Steemit,</em> which is much faster to read than the video and has all of the highlights in screenshots!</p>
<h2><strong>BlockTrades tutorial for instant cryptocurrency exchanges</strong></h2>
<p><br />What currencies can you exchange on <a href="https://blocktrades.us/"><em>blocktrades.us</em></a><em>?</em></p>
<p><em>Bitcoin</em> is available, <em>Bitshares</em> is available with each of these different options within <em>Bitshares.</em></p>
<p>https://steemitimages.com/DQmais8o7x8Yb2rUSEDgw7Z3eMrsMV3v3PVRrET3e27fF8u/S22-01.jpg</p>
<p>Then you've got <em>Dash, Dogecoin, Ether, Digix DGD, Litecoin, USD Tether,</em> and then <em>Steem</em> and <em>Steem Dollars.</em></p>
<p>https://steemitimages.com/DQmbUx1dLR7g2FUHQNbRSEuFbmTTB53BVLWXgXtCyfRtrwW/S22-02.jpg</p>
<p>If you'd like to send one of these, <a href="https://blocktrades.us/"><em>blocktrades.us</em></a> is a great option for that, and I'll show you exactly how to use it right now including how I'm actually saving or getting a little bit more money out of it.</p>
<p>We're on <em>Steem </em>right now, if you've got <em>Steem Backed Dollars, </em>there's a <em>Steem to Steem Backed Dollars</em> market.</p>
<p>The <em>Steem Backed Dollar</em> is equivalent or pegged at one <em>US Dollar</em> worth of <em>Steem.</em> Well, that actually depends on what the market price for it is.</p>
<p>https://steemitimages.com/DQmeJp88w1S2xyMRaFyAYoc43q1CdRjMU2mRVSDD2bKyxhw/S22-03.jpg</p>
<p>Right now I have <em>43.36 SBD</em> that I want to convert into <em>Steem</em> in my account. If I do it on the <em>Steem</em> market right now, I get <em>37.637 Steem.</em></p>
<p>But, if I use <em>BlockTrades</em> to do it, I actually get <em>38.77 Steem.</em></p>
<p>https://steemitimages.com/DQmYUyVcAhReop1pzj2rG7hTR9tz1ecfoMwFozgdWz92N16/S22-04.jpg</p>
<p>That’s the difference.</p>
<p>I'm literally getting an extra <em>Steem,</em> which was about two dollars and fifty cents when I made the video tutorial, but if I did that on a bigger amount, that would continue to be a bigger and bigger difference.</p>
<p>So what I do, I put in the currency I want to send in.</p>
<p>If you have <em>Bitcoin</em> and you want to change it into let's say <em>Steem or Etherium,</em> <em>Dogecoin or Litecoin,</em> you would then put <em>Bitcoin</em> in the <em>"Send"</em> field.</p>
<p>I have <em>Steem Backed Dollars,</em> so it is what I choose, and then I put it in what I want to receive.</p>
<p>Now, <em>Steem Power</em> will power it up directly in my account. As soon as it lands in my account, it will power it up.</p>
<p>This is the same basic process regardless of the currency you want to use, there are just different options down below.</p>
<p>So right here for this using <em>Steem</em>, all I need is my account name, which is just <em>"Jerry Banfield."</em></p>
<p>You can get your account name just off your <em>URL</em> like this, you just take the <em>"@" </em>symbol out and put your account name there, that's what's nice about <em>Steem,</em> it's really simple to do this, like we have an address.</p>
<p>https://steemitimages.com/DQmW3DGWjyBxyY2q8bFFyH3aQ8cpfjdxJnPwFc4Yr3ndT1U/S22-05.jpg</p>
<p>I hit <em>"Get Deposit Address,"</em> and then it gives me the exact instructions to use.</p>
<p>https://steemitimages.com/DQmPwaPC61kB7HS38Apyhqx6CtQjGPFFX1kERj5DbmQsbhT/S22-06.jpg</p>
<p>It says, <em>"Send any amount of Steem Backed Dollars to the account name "blocktrades" with this exact memo, and we'll convert it to Steem Power and send it to your receive address."</em></p>
<p>What I need to do now is go in to my <em>Steemit</em> account. I'll just go to <a href="https://steemit.com/@jerrybanfield"><em>@JerryBanfield</em></a>, then I'll go over to my wallet. I've got my <em>Steem Dollars</em> sitting in my wallet and you could use that to go over the market, but what I want to do is use the <em>"Transfer"</em> option, and then follow the instructions that I was just given on <em>BlockTrades.</em></p>
<p>https://steemitimages.com/DQmZDehaBbKe4SihBaDbwVTJUgnQejbxL43NiHbdnFVr8FR/S22-07.jpg</p>
<p>I can hit this to send the entire balance.</p>
<p>https://steemitimages.com/DQmfUHFhrgsB5RPoaSTgKunAWLins4DRSFweJK3LmXvbHTz/S22-08.jpg</p>
<p>Now, however you do this with something else, it will be the same basic process. You'll be given a couple of things to copy and paste exactly where you want them.</p>
<p>What I need to do for this is to copy <em>"blocktrades"</em> with no quotation marks, and then this exact memo.</p>
<p>https://steemitimages.com/DQmcmi4VMUTCTRXoSN7bSTDWqJkwuhe63aDFVTkoKwaYtoT/S22-09.jpg</p>
<p>Then, I'm pasting them in the <em>"Transfer"</em> window.</p>
<p>https://steemitimages.com/DQmdLK9skm81eaWctQGNtzZYbiot3CJDnWt8nz6446cVCzU/S22-10.jpg</p>
<p>Then what I do is hit <em>"Submit"</em> and it's going to ask me for my password.</p>
<p>Now there will be a brief moment of uncertainty in any of these things you use, where there'll be a minute where you won't have anything.</p>
<p><em>Steem</em> goes super-fast, the balance is gone, and I've sent it out to <em>BlockTrades.</em></p>
<p>https://steemitimages.com/DQmXepmsLqjmQbJrJ5TxeX3NwfxXxUsHNz29avhZJ3ptjap/S22-11.jpg</p>
<p>Now, <em>BlockTrades</em> will need to show me exactly what happened.</p>
<p>It says this output is <em>37.91 Steem Power.</em> That's the final result that it says I'm getting on the output.</p>
<p>https://steemitimages.com/DQmVDNb3GSRi9EJi1MNZ2mNnCAT9WYvitAj7HrUeN93RV6v/S22-12.jpg</p>
<p>If I refresh my page on <em>Steemit</em> right here, I’ve got a new deposit and you can see that it literally took less than a minute to do that whole transaction, that's one reason <em>Steem</em> is so awesome.</p>
<p>https://steemitimages.com/DQmPzBTkogN3xQ8kYQLhtd9Q9Wbp6TkWUU1NmUeL9HqWDcx/S22-13.jpg</p>
<p>It is rapid-fire fast. One minute ago I sent that <em>43 SBD,</em> and now I got <em>37.971 Steem Power</em> directly deposited into my account.</p>
<p>https://steemitimages.com/DQmS1krBrjNCEDTqDwAB3i2uwypr8Qfz7TfaEup1wDetbpa/S22-14.jpg</p>
<p>That's exactly how you do a trade with <em>BlockTrades,</em> and then you can have a receipt. It’s nice if you want to have all your receipts in one place for it. It might be a good idea to sign up, make a password and that way, you'll have all your receipts in one area for it. I'm going to sign up and make a password here on <em>BlockTrades.</em></p>
<p>Now, if you're doing a different currency, all you'll get is different instructions.</p>
<p>If I do <em>Bitcoin</em> and I want it to be <em>Steem Power,</em> then all I am going to get is a <em>Bitcoin</em> address.</p>
<p>You can also see your exchange rate right here.</p>
<p>If you want to see how good the exchange rate is relative to somewhere else, you can just put in one <em>Bitcoin</em> and it will get you <em>1,100 Steem Power.</em></p>
<p>https://steemitimages.com/DQmYJ4QbieQbX5AjLAK25bbG7QH5hkdDj5ddnYD9ePgdM5K/S22-15.jpg</p>
<p>If you select <em>Steem Dollar</em> instead of <em>Steem Power,</em> it will calculate everything and notice how the field changes, it will get me <em>1,217 Steem Dollars</em> right now.</p>
<p>https://steemitimages.com/DQmNokzJzFpSjJVeLfEYfmjeCoLnRHi3jbbfZRF1DwUptAs/S22-16.jpg</p>
<p>Let's say if I want to go over to <em>Bitshares,</em> it'll get me <em>24,000 Bitshares.</em></p>
<p>You can just do each of these.</p>
<p>If I want <em>Dogecoin,</em> then you can see I get <em>783,999 Dogecoin </em>out of that.</p>
<p>https://steemitimages.com/DQmNfDoJj3iEiZ5Maq6MdL6j7Cde53BbwxrQkR2UMe8egXh/S22-17.jpg</p>
<p>I can go over to <em>Etherium</em> for one <em>Bitcoin,</em> and I can get <em>10 Etherium.</em></p>
<p>You can put it in the opposite direction as well. Whatever you put on the left side, you need to be depositing. If you have <em>Etherium,</em> you need to be able to put that on the left side and you want <em>Bitcoin, </em>then you need to be able to put that on the right.</p>
<p>https://steemitimages.com/DQmct75GPamg9TB4ShZC6xFxtDJ1cQREzXqceA1qdYAoGJQ/S22-18.jpg</p>
<p>What you can do also is compare the exchange rates if you want to because <em>BlockTrades</em> needs to make money doing the transaction.</p>
<p><em>BlockTrades</em> has the ability to give you a little bit lower exchange rate as a fee. What you can do is just check the exchange rate.</p>
<p>You could use something like <a href="https://bittrex.com/"><em>Bittrex</em></a><em>.</em></p>
<p>You can see that the last price for <em>Etherium</em> is <em>0.09298.</em></p>
<p>https://steemitimages.com/DQmQ1fGJRBufUrV1xeg28LR4cF9bNE5qLQdZwmPsYAGYkWh/S22-19.jpg</p>
<p>If you go over to <em>BlockTrades,</em> it's <em>0.0900.</em></p>
<p>So what you can see is that you're looking at a significant fee if you do <em>BlockTrades.</em></p>
<p>After calculation, I find that the transaction fee currently on this particular estimate is about <em>3%</em> to use <em>BlockTrades.</em></p>
<p>Now, the market price was so different for the <em>Steem Backed Dollars</em> one that it was worth it for me to send that.</p>
<p>However, just note that if you have <em>100 Etherium</em> and you'd like to exchange them on <em>BlockTrades,</em> this becomes a gigantic fee, versus doing it on <em>Bittrex</em> where you would get a significantly greater amount, hundreds of dollars more <em>Bitcoin</em> doing it that way.</p>
<p>For smaller transactions, it might not be worth the time to go put it on an exchange and get the very best rate. However, I've exchanged thousands of dollars before using <a href="https://shapeshift.io/#/coins"><em>ShapeShift</em></a> and <a href="https://blocktrades.us/"><em>BlockTrades</em></a><em>.</em> They're both very similar. That fee does add up as you continue to do more and more.</p>
<p>You can easily check the fee that way, if you put it in terms of <em>Bitcoin</em> and compare it to an exchange. Then you can decide if it’s worth the convenience for you. You saw how fast that transaction was. If it's worth the convenience and you're happy with the exchange rate, then go forward with it and make a trade.</p>
<p>Thank you very much for reading this <em>BlockTrades</em> tutorial with me!  If you found this post helpful on <em>Steemit,</em> would you please <em>upvote</em> it and follow me because you will then be able to see more posts like this in your home feed? </p>
<p>Love,</p>
<p>Jerry Banfield</p>