How to Withdraw your HBD, HIVE to your Bank Account.
There is no better feeling for any newbie on Hive who hasn't withdrawn their money before to know how it is done so that whenever they want to withdraw, they can do it on their own without mistakes following the simple steps, I want to list out below.
First of all, you can't send your HBD (Hive Backed Dollars) to your normal bank account directly so you have to convert your HBD to Hive first.
To do that, you have to go to your peakd.com, then click on the drop down arrow button, then click on the Market option.
After clicking on the Market option, the Hive Wallet page will pop up, the next thing to do is Buy Hive with your HBD since we are converting from HBD to Hive. when you look below you will see Buy Hive and Sell Hive options.
Click on the Buy Hive then fill in the total amount of HBD you want to convert Hive, the equivalent of your HBD in Hive will show on the box for the Amount of Hive, then Click on Buy Hive box, immediately your but order will be placed and once your order is filled (when your HBD has been converted HIVE), it will Automatic appear in your Hive wallet in your account, so there is no need watching the market till your order is filled.
Once it has appeared on your Hive wallet in your account, now all you need to do is to copy your Binance Hive Wallet Address and paste it on Hive, I hope you have a Binance account because that is what I use personally for my transaction.
- Open your Binance App.
- Go to the search box, search for HIVE/USDT.
- Click on it and then click on the three dots(...) at the top right corner.
- Click deposit.
- Click on HIVE, when it asks you to choose a network, although that's the only network available for transferring or sending hive to Binance.
Something very important to take note of is the HIVEMEMO, because if you don't input the memo on Hive before sending it to Binance you are at risk of losing your money.
Now that you have your Hive Wallet Address and HIVEMEMO, go back to your peakd.com or ecency.com to transfer or send your Hive to Binance.
Where you see To: Payment recipient input your Wallet Address you got from Binance, input the amount of Hive you want to send, and for the Memo: option input HIVEMEMO you got from Binance then click on Continue.
Remember: You will be redirected to Hivesigner to complete your transaction. Your Active or Owner key is required to sign this operation.
Once you get a notification from binance that your transaction has been received, go to your binance Sell the Hive for USDT, then transfer the USDT from your Spot Wallet to your Funding Wallet, then go to the P2P Sell section, look for your preferred buyer and sell to the person. But don't release your coins until you have received the Alert from your Bank that the person (He/she) has paid.
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You sure made my day with your detailed explanation. As a newbie, I have tried to learn these procedures but to no avail. Thank you again. These step by step guideline is just what I need.
I'm glad I could help and I trust you can do it on your own now.
This blog will be a helpful post for every blogger. Thanks
Thanks, you could help reblog and make it go round, thanks in advance bro.
Now all I have to do is refer all that need to know how to get money out to your wonderful post.
Thanks mate, I would love and appreciate that.
This is interesting and would be helpful for users who ain’t tech savvy, if they can be patient enough to read through.
Thanks bro.
Thank you for your detailed explanation. It has been very helpful
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My pleasure and I'm really glad my post helped you.
I have been looking for this since I came to Hive. Now you made everything easy.
Its still complicated from here though, but I will have to reblog this post so I could read and over again take cognizance of the nitty gritty.
I'm glad I could help.
That would be nice and would definitely work.
Right timing, I have been curious on how to get it done. Thanks alot
I'm pleasure dear🤗
That P2P Sell Section is kinda strange... Is that because of the type of Bank account you use in your country? My usual reflex would be to just payout to my bank account via, in this case, Binance.
That's because my country placed a ban on Crypto, so the only to withdraw money from any Crypto Exchange to your bank account here, you need to do P2P (peer to peer).
And Binance is hosting that Service? Do you access their Website via VPN?
I have tried this before tho.
Yes they do.
Very nice of them, ain't it? :))
Yes it is.
We could host a service like that directly here on HIVE as well if it's P2P anyway.
Are there any FEE's involved, besides the transaction to Binance and then into the Stable Coin, and how much is it until reaching the P2P wallet?
That would be nice though.
No, but you have to find the most preferable price that you are comfortable
to buy and sell.
Also, it is not a coin, it's just for transactions exchange between two people
Very interesting to read, very interesting
Thank you so much.
Thanks for sharing. I can easily share to Newbies who need guild lines on this.
My pleasure bro.
Thanks for the advice on how to withdraw. I have never withdrawn my tokens, but hope to in the future. However, I will probably simply use my HIVE to buy other cryptos before putting it in my bank account simply due to the fact that crypto gains in value over time the way stocks do.
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That's a totally smart decision mate, I like it.
Once I withdraw I will invest half and use half to take care of my needs and myself 😊.
Really helpful article. thank you for sharing. Have you tried using Blocktrades through hive.blog? I've used it to deposit Hive into the blockchain but have not tried the reverse transaction yet. It was nice and easy albeit longwinded haha. !PIZZA By the way...I have a new contest up if you're interested. I know you used to enter lol
No, I haven't but I would like to explore and try it out.
I would love to partake, thank you.
Thanks for the pizza🍕
I found blocktrades a nice easy process albeit it lengthy, haven't tried to withdraw yet using it...will have to see how that goes. I must do a test transaction! You are welcome to come take part in the contest. it is open to all hehe and lots of little prizes available to be won.
You can try it, it's really easy and less time consuming.
That will be lovely☺
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This is interesting, love this
Thank you
This is an awesome post, I've always wondered and i find this very helpful.
Can one use Roqqu? Or must it be binance? I find binance complex to use, the app/pro interface isn't that new-user friendly but i guess it takes some getting use to ayye.
Excellent post again my friend🌟🌟🌟🌟🌟
For me though I use only binance because and use to it already and it is still user friendly.
I really don't know anything Roqqu though but I will do my research.
This is so detailed
Thank you