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RE: What is Steemit, and what is it's future?
Great article and it helped clarify a few questions for me. Thank you. :D
I am still trying to figure out how to buy steem on the market but not getting my brain to grasp the way it works is making me a bit grumpy with myself.
All I want is to buy a few steem but the process is more complicated than I thought. I've tried a couple different methods that I've seen posted on here but can't seem to make them work so I might have to give up on my dream of owning steem for now.
Thanks for reading! It's actually fairly easy, let me try and explain. The easiest way I know of is to use blocktrades.us, along with Coinbase. What you do is buy some BTC on coinbase with your bank account. You then go on blocktrades, set up a transaction for BTC to STEEM, giving it your steemit account name as the deposit address. Blocktrades will then give you a deposit address to use. On Coinbase, you use the send/request funds tab to send your BTC to the deposit address you were given by Blocktrades. After a little while (maybe half an hour, the transaction needs to be confirmed by the blockchain), your funds will arrive in your Steemit account! You can find your funds by going to your Wallet (click on your icon in the top right and click "Wallet").
Hope that cleared things up!
Is it the same for say LiteCoin? I can't afford bitcoin. :D I've got a Coinbase account now but I'll have to get one on blocktrades.us I guess to get this to work for me. Wish me luck (technology doesn't really like me), hopefully it works. :D
So sorry, I was out! You don't have to buy a whole bitcoin at a time! You can literally buy a few pounds/dollars of Bitcoin. I don't think you need a blocktrades account to change BTC to STEEM, it automatically provides you with a deposit address. Once you deposit your BTC into that address, it'll automatically convert it into STEEM for you and send it to your Steemit account's wallet.
Okay I tried it but the deposit address that I was supposed to enter into my wallet (they are talking about my wallet in here right? If not I have absolutely messed it up,) it won't go, keeps saying its too long.
You should take the deposit address, and send BTC to that address using Coinbase. In coinbase, go to "Send/Request", and put the deposit address as the address to send to. Then send it the amount of BTC (+ maybe 1-2£ worth more to cover any transaction fees) that you dictated when you created the deposit address with blocktrade.
Thank you very much for trying to help me. :D
No worries! Did it work?
Nope, keeps giving me an error message that the address they give me is too long.