SIMPLE METHOD: STEEM DOLLARS TO MONEY IN THE BANK
(IN UNDER 24 HOURS WITH NO KYC VERIFICATION)
Part 1 of the series Steem Dollars to cash in 60 min
@blockcodes Steemit exclusive guide
SAVE TIME MONEY AND HASSLE
In the last guide, I covered a simple method to cash out small amounts through an AMEX Serve debit card and several people asked how they could cash out larger amounts, other currencies, and without waiting for a card in the mail. This guide will cover a simple method for you to cash out your STEEM or STEEM DOLLARS with NO KYC VERIFICATION and receive MONEY IN THE BANK the SAME DAY. This method is dead simple and will work in several countries and currencies.
- Steem Dollars - From your Steemit wallet
- Localbitcoins account - sign up takes 30 seconds
- Bank account with a major bank
3 SIMPLE STEPS
STEP 1: CONVERT STEEM DOLLARS TO BITCOIN
In Part 1 of this series we covered in depth how to convert your Steem Dollars to Bitcoin and send it to LocalBitcoins. To do this we used either Changelly or 
STEP 2: SELL BITCOINS ON LOCALBITCOINS FOR CASH DEPOSIT
- Log into Localbitcoins Wallet verify your Bitcoins arrived. (It may take 10-30min to confirm.)
- Click on Sell / Cash Deposit (Global) or Cash Deposit (US)
- Select an active user (green dot) with good standing (over 100+ trades + 100% feedback reputation)
(The users have two numbers next to their name number of trades and feedback reputation. ) - Click SELL to open the User's advetisement and place your Bitcoins safely in escrow.
- Enter the number of bitcoins you are selling , then click Send Trade Request.
IMPORTANT SECURITY MEASURES TO PREVENT MAN IN THE MIDDLE ATTACKS:
ONCE YOU INITIATE THE TRADE, REQUEST THEY PROVIDE A CASH RECIEPT.
NEVER RELEASE BITCOINS WITHOUT VERIFYING FUNDS AND RECEIPT
Ask them to:
- Write their username, LocalBitcoins reference number, and "nonrefundable sale" legibly on the receipt. If those three things aren't written on the receipt, DO NOT RELEASE.
- Take a picture of the receipt and upload the image to LocalBitcoins before marking the payment as complete. No scans.
STEP 3: MONEY MONEY MONEY... MONEY
NEVER RELEASE BITCOINS WITHOUT VERIFYING FUNDS AND RECEIPT
- The user will make the deposit using the information you provide.
- Log on to your Banks website and verify the funds have arrived in your account.
- Verify the cash receipt has the username, LocalBitcoins reference number, and "nonrefundable sale" written legibly.
- Once you have verified the payment and receipt you can safely release your Bitcoins from escrow.
WHY DO I NEED THE CASH RECEIPT WITH HANDWRITTEN NOTES?
There are two major security risks; non-cash deposits like a check or money order can be reversed and a Man in the Middle (MIM) attack could cause you serious headaches.
I could write a whole post about MIM attacks. That is when the person buying your bitcoins is not the same person depositing the money in your account. Often the person making the deposit is promised some product or service they never receive. This can leave you exposed to many financial and legal risks. By assuring the depositor is the one buying your bitcoins you protect yourself from receiving funds from a middle man who is scamming some poor sucker.
NEVER RELEASE BITCOINS WITHOUT VERIFYING FUNDS AND RECEIPT
Whole Series -
Part 1 : Steem Dollars to Cash in 60 min
Part 2 : Steem Dollars to Money in the Bank