Are you keen on transferring some Steem tokens from an exchange to your Steemit account? Would you like to start your blogging career on Steemit with a little startup boost, and therefore, you are looking for information on how you can transfer Steem from Binance to Steemit or maybe from Bittrex to Steemit? It is very easy!
As you might know, I am writing articles quite regularly on Steemit, and you can find all my articles right here. My username is @unbiasedwriter, and that is the most important information you need if you want to transfer Steem tokens from Binance, Bittrex, or any other exchange and send them to Steemit.
It is super-cheap to transfer Steem!
No matter what you do, transferring Steem is extremely cheap, so feel free to do a test-transfer first, just to make sure that it works the way you hope for! The transfer fee for Steem tokens on Binance is 0,01 Steem per transfer. In other words, the cost of sending Steem is 0,005 USD (with today’s Steem price of 0,5 USD). That is just crazy cheap, no wonder why people prefer transferring Steem tokens instead of Bitcoin or even worse, FIAT.
How to transfer Steem from Binance to Steemit?
If you want to transfer Steem from Binance to Steemit, you need to know your Steemit username. If you want to, feel free to use mine as well, but if you do so, I will receive the Steem tokens instead of you, and that might not be your exact goal. But, if you want to bless me with some Steem tokens, feel free to do so! But, this is what you need to do.
- Open Binance and Select Funds – Withdrawals.
- Select Steem as your Token.
- In the Steem Withdrawal address enter your username (without the @)
- Click the “No Memo” button if you do not want to send any message.
- Select the amount of Steem tokens you want to transfer.
Again, the most important is to set the address of withdrawal to the username of Steemit that you want to send funds to! Do a testwithdrawal first in which you only send a couple of Steem tokens, and if everything works properly, you can send larger amounts later.
How to send Steem from Bittrex to Steemit?
To send Steem from Bittrex to your Steemit account, do as follows.
- Open Bittrex and go to your Wallet (click Wallets).
- Find the Steem token and press the withdrawal icon.
- Write a Memo (if needed); if not click the box to skip the memo. The memo is just a message coming with the transfer, so when transferring to Steemit it is not necessary.
- The recipient’s wallet address is their Steemit username, without the @.
- Add the amount of Steem you want to send, and make the transfer.
If you have read through the instructions on how to send Steem from Binance and Bittrex to Steemit, you probably understand how this works by now. The same method should be used if you want to transfer Steem from other exchanges to Steemit for use on the platform.
Pay attention if you want to send Steem from Steemit to Binance/Bittrex and other exchanges!
It is very easy to send Steem tokens from Binance, Bittrex and other exchanges to Steemit. But, what if you want to send Steem tokens from the Steemit platform to Binance, Bittrex or another exchange? The procedure is very similar, but there is ONE VERY IMPORTANT DIFFERENCE… you need to add a memo as well. The memo is what will make Bittrex and other exchanges know that the funds will be send to you, and not just to the wallet address of the exchange itself.
You must, therefore, pay close attention to the deposit information you get on your exchange in order to transfer funds to the correct address, and then to add the correct MEMO next to the deposit address.
It isn’t hard either, but you should watch out and make sure it gets right in the first place – if not you may risk losing your funds, or at least, that you will have to wait for a very long time before you have them returned.
Thank you for reading. Make sure to follow me on Steemit, upvote some of my posts, and if you feel like this article, place a bookmark here to read more interesting articles about cryptocurrencies, VPNs, streaming related topics and more in the IP Address Guide.