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RE: Buying SBD with fiat a good idea?
Sounds like a good plan to me @exyle although I'm struggling at the moment trying to buy euros then crypto from the UK.
I didn't make any notes about how to get sterling into my Revolut account so I can change it to Euros. Spent tons of time on it yesterday and asked a couple of people to look for me and they couldn't work it out either.
I've done it before though so I must be able to find the information somewhere. When I do you can sure, this time, I will make notes!
Or maybe I can buy SBD with Sterling somewhere? If anyone reading this is in the UK and knows how to do it. Please let me know. Ta!
This is a stumbling block for many. Bitcoin or BTC remains the entry point for other crypto currencies. You must first establish a Wallet to receive BTC. I use a hardware Wallet called Armory. But it doesn't work independently so you have to also install and run Bitcoin core wallet and once synchronized (this can take a day if you start fresh) you can start up Armory. Make certain you have enough space on your hard drive as this will end up occupying well in excess of 100GB. It is also possible to have an on line wallet, but they charge a fee and if they get compromised you go down with them.
I'm in the EU so I use Bitonic to buy BTC direct, without dollar conversion so I don't need a dollar account at my bank. A quick search produced the name of www.coindirect for a similar service providing BTC for GBP after the obligatory bank account verification etc. Still with me?
Once you have BTC in your wallet you can buy SBD or Steem from Blocktrades, ..if you don't make any mistakes. There are other ways to buy Steem or SBD, but this is the route I took and it may not be right for you or your situation.
What we really need is an exchange that trades fiat currencies direct for Steem; until that time Steem will always follow BTC in it's ups and downs. Hope this helps, greetings!
Thanks for your reply @onnovocks.
I know how to buy BTC and how to buy Steem or SBD via Blocktrades but @exyle said he was buying SBD with Fiat so that is what I was asking about.
Specifically how to buy SBD with Sterling, although I'm assuming I will probably have to convert to Euros first.