I am taking a work vacation this weekend. What does that mean? I am in the mountains of Colorado at a friends cabin by myself. My team is not here, my family is not here, no one but me. My goal is to get some serious work done. I talked about why I did this in my last post on Steemit here. https://steemit.com/books/@investfourmore/why-deep-work-is-so-important-in-our-world
While I am here I was just working on transferring some Steem to my account from Poloniex. What a pain!!! I have been using Poloniex for a while as it was suggested by a friend as a good site. It worked great until about three weeks ago when I kept getting a message saying:
"STEEM is currently under maintenance or experiencing wallet/network issues. Deposits and withdrawals will remain disabled until a solution is found, which may require an update from the STEEM team. Any updates must be tested and audited before enabling."
I thought this would be cleared up in a day or two, but after a few weeks, I was getting annoyed. I had some Steem I wanted to transfer to Steemit and I could not do it. When I first started looking into Cryptos a few weeks ago I gave myself a few thousand dollars to play with. I bought some Bitcoin, sold some Bitcoin. I bought some Ether, bought some Ripple, Bought some Lite Coin, etc. What I kept realizing was I was purely speculating. The cool think about Steem is I can invest in the coin and use it as well! I can power up, which is allows me to hold the investment, while I earn money with it as well. When I vote for other posts I earn curation, I can vote for myself, I can even sell my votes and earn curation and money from the vote seller.
The more Steem I have on Steemit, the more money I make. Of course, there is always the risk that you could lose money as well. But I am a real estate guy. I love to be able to make money with my money while it is gaining value. My rentals are awesome because they go up in value and provide cash flow every month. I wanted to invest more money into Steemit and it was super annoying that Poloniex was not letting me do it.
How did I get my money from Poloniex to Steemit?
Before I tell you anything, please know I am not a tech guy. The fact I have anything to do with crypto at all is a minor miracle. I am sure there are better people to learn this stuff from, but this is what I did.
I found another cyprto exchange that has Steem. I tried Bitrexx, but it is closed to new users! I asked around and found Binance had Steem and is fairly well known. I chose them. Are they the best? I have no idea, but I was tired of not having my Steem.
I opened an account with Binance which was really easy! I used a referral code to reward the person who posted info on Binance. So I thought it wise I post my own referral code. If you use it sweet, if not, cool. https://www.binance.com/?ref=27833386
I was able to transfer my Poloniex money to Binance really easily. I went to Poloniex and sold all my Steem for Bitcoin since I could not transfer any Steem anywhere. I then went to Balances on Poloniex, went to deposit withdraw, clicked on withdraw and they show me the screen where they ask me where I am sending my money. I then went to Binance to Funds, and then clicked on deposits. They show me a deposit address that I enter on the Poloniex site. Make sure you are using the address of the correct coin! You enter the address on Poloniex, and send the coins over to Binance.
Ten minutes or so later I had my Bitcoin on Binance. I then bought Steem with my Bitcoin, which sucked because the exchange rate was worse on Binance than Poloniex. Once I had my Steem I was ready to send it to Steemit! Except they wanted a 2-factor authentication or something on Binance. Great, I will use my phone and they will send me a text. I did that about ten times with no success! I got the code, entered it, and they kept giving me a message in Chinese. I don't speak or read Chinese. I assume it was Chinese because Binance is a Chinese company. Anyway I was able to get Google Authentication on my phone which allowed me to send Steem to Steemit!
The last step is easy. I click on Funds and then withdraw on Binance. I type in Steem and it asked me where I want to send my Steem and I simply use my username on Steem. I tried a small amount to make sure it worked and wallah! I had my Steem on Steemit.
I hope this may help a few people. I was a little pertrubered about the whole process. Along the way I also went to the Discord chat and saw some scary things bout Poloniex. I saw people saying to close accounts, and move everything ASAP. I have no idea if Poloniex has issues, as that is beyond my knowldge, but I thought I would pass it on.