Steemit Wallet & Transfer procedure using Bittrex

okay we're now going to go through the wallet page and just describe everything I can within this tab next to your settings wallet right so just to quickly run down what is everything we've got steam steam power steam dollars savings estimate account value and your history so this is me currently steam value is looking a bit low my overall account is down a bit we've dropped a lot it was over twelve thousand last week that's what happened so that total will fluctuate depending on the value of steam mm-hmm right so steam and steam dollars are currencies okay rather like let's say etherium and etherium classic sir created - so that was from a port note that was intentional right from the beginning the reason being the steam dollars are pegged to the dollar they fluctuate currently it's around one dollar three cents a can go up to one dollar for it can go down to fifteen cents but the idea is is that it's usually around a dollar so if you are looking to sell something for a particular amount of steam you would want to sell it in steam dollars as not to be affected by the movement of steam which is much more extreme so steam can you know I've seen it go from seven cents for two dollars fifty sorry to advertise something for sale in steam would be a bit dangerous because your prices going to fluctuate so much hence the two currencies one pay to the dollar and whatnot now both of these are instantly transferable out of the platform to the right of your total there is a transfer tap so if I want to move my steam to another account say I wanted to send you some steam I go to transfer to add your username there so instead of a long-winded number like most of the other coins have you would just add the person's username the amount of steam you want to send them and the memo is just the public record for identifying it so you could write whatever you want gift I would write gift gift to cliff whatever just as a record of why I'm sending you the money and that would be logged on the blockchain Steam dollars is the same you can instantly transfer Steam dollars to a friend or indeed out to a market where you would then trade that Steam or steam dollars for Bitcoin at which one you would either invest it into another old coin or cash out by a Bitcoin exchange sharp or peer-to-peer for fee at times you know we've got you to be like a difference exchangers are a wallet that has support for scheme it where you could do like a shapeshifter what's the simplest way you can to get the end of Bitcoin there is there is not an advanced shake shift wallet in existence yet the way I do it and so I use bitter X so I'm actually about an app platform that makes it simple right so let's have a quick look at bit rates you're on it already so in your wallets on bit rags Stephen what's going on in your wallets you will see a camel a plus and a minus sign next to your steam I've currently got three three five steam in this account and say I want to add some steam from my Steam account I would copy that memo okay and see that the registered account name is bit tracks so copy that I take a note of that as well bit Rex go back to your account here you would enter bit Rex here so if it tracks have a steam account connects then you would enter the amount if I'm going to do full amount it would be that your memo would be that high now in fact I've actually just done this wrong because I'm working in steam dollars here so in fact I would that's the wrong the wrong one to do so I would need to look up SPD that's because steam dollars oh sorry at which point I would click the plus sign there I would get my memo for steam dollars and that would go in2 so this account steam dollars if on transferring steam dollars you've got to make sure you get the right memo for bitter ex to accept those steam dollars so that is now the correct memo for steam dollars so you would submit that experiment or the two different tokens right they are two different tokens completely different so it works the thing really let's see if they want to seem to be terrifically transfer if it fits track a bit right demo you're looking for now yes okay got it yes perfect that then goes to your trading account where you would sell your Steam for Bitcoin or steam dollars for Bitcoin at which point you know your Bitcoin is available to you to either exchange for an old coin or cash out just for those of you are still focusing on this marketplace the once you've got the steam in your wallet you click on the steam icon which takes you to the marketplace you can see the current value it's not looking too good say I want to sell it's currently saying I have not available I don't know why it's taking a bit of time to load but that should say the amount of steam you have there at which point you would click the amount I always go for last price which tends to be slightly higher than the bid or the arts and so it may take a while it last time it took about four hours because the market was crashing when I sold so it took about four hours to sell but it did so and then that will pop up in your Bitcoin wallet at which point you can then choose what you want to do with your Bitcoin so just quickly let's go back to the this page right savings is like a bank it's a bit silly you can save your money in there and ultimately what it does it delays so when you want it back things but wait three days before it comes back I'm not exactly sure why anyone would put money in there I guess if you're saving for a new car or whatever you would just put the money in there so you know you're not spending it or powering it up so I don't use that I don't think many people do to be fine screen power now this is really key so at the bottom of every article you have an option here one hundred percent power up default fifty fifty in fact that that is your default so you need to adjust that if you want to change this system what that means 50/50 is that you will be paid for your work in steam power and steam dollars so you will collect fifty fifty V now steam power is important because steam power is ultimately exactly the same esteem it is steam but it is locked into the platform if you want this steam back to get it back you click power down and once a week for ten weeks you will get ten equal payments paid back into your steam account at which point you can then transfer that one tenth of your total holdings out so it takes ten weeks to get all of your steam out of steam power back into steam where it's then transferable out of steam it the reason why everybody aims to power up there scheme into steam power it's because the more steam you have held in the platform the more your vote becomes were oh so it fluctuates again with the value of steam my vote is currently worth around $1 based on that 5300 steam do I want to making the most important straightened out do I want to do power up or go waste okay consuming if your intention is to hold the money have faced in your currency which I would strongly suggest you do then if you do ever see any steam pop into that power it up which will just send it to steam power your steam dollars frankly are not doing much sitting there as steam dollars and you're better off selling that for Bitcoin on the internal marketplace and buying steam it is very tempting to click convert to steam best to avoid that because the exchange rate on this internal system is not right better to sell it for Bitcoin and by steam you can use the internal marketplace as well so there's an internal market place within steam it to buy and sell stone I'm not going to go into the marketplace quite yet I think let's just stay on the wallet so we've covered steam steam power the advantage is curation basically your upvote becomes worth more so your rewards become worth more okay so if you place an upvote on an article that then goes on to make lots of money if you've given more you receive more that as feared was that so the vol you can give the more you can get back that's why a lot of the people with you know you can figure they're like fifty thousand steam will spend their time curating because their vote is worth so much that they can really make a difference to a post and then we steam it through there network which will push the value up and they make money from their generous up vote this is a log of all the transactions that happen now you can see up here it says I've got a current rewards of North point 707 steam power now this was from curation so my up voting other people has accumulated this quantity when I click redeem Awards it takes up to about 30 seconds to register but ultimately I'm transferring that quantity to my steam power total so that's it that's the wallet steam steam power steam dollars savings I think you can forget about estimated account value just tells you baby what it's worth against the dollar oh there's one other thing worth mentioning this is based on a 7-day average it is not tied to the market in a live feed so it kind of softens the blow of a crash you don't feel it quite as bad but what I've seen since since the the value crashed it's you know this number is gradually creeping down and down every day do not be alarmed my friends it will come back up do you not cash out it will come back up if there's one thing I've learned in trading it is hold if you can write they will go so that steam power my curation reward has now been added to that figure to my steam power so that's it get as much steam power as you can if you need some money click power down it'll give you a one one tenth of your total steam power will be paid weekly into that you can then cash that out once a week if that be your desire that's it that's the wallet

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