This is the third of a series of blog posts i will do, they will target new people on the cryptocurrency community. In this post i will briefly talk on how to withdraw the BAT or Dai you earn on Publish0x, transform it into "real money" or keep it safe in your private wallet. This is not a very complicated process but there are some things that may confuse new people. We will see how to directly deposit the tokens into an exchange, publish0x doesn't recommend it, but if you are careful there is no problem.
The first thing you need to do is to make a withdraw request on Publish0x. They will ask you for an ethereum wallet address, now is the time to be careful, if you plan to directly withdraw into an exchange (we will use Coinbase as an example) you need to use the specific address of the token you plan to withdraw. As an example i will try to withdraw BAT to Coinbase.
Lets see how to locate your BAT wallet address on Coinbase.
Just log in into https://www.coinbase.com/ and click on the "Portfolio" tab.
Scroll down, locate BAT and click it.
Choose the wallet tab and press receive.
Say that you understand and you will be given your Coinbase BAT wallet address.
Simply copy this address, log in into Publish0x, go to Settings -> Wallet and paste the address there. You will be able to withdraw BAT and only BAT into this address, do not attempt to deposit DAI to this address. If you plan to do it, repeat the process but for the DAI wallet.
You can now finish your withdraw request. After the request has been approved by the publish0x team, you will receive an e-mail both from Publish0x and from Coinbase. If you check your Coinbase BAT wallet you will see the transaction being approved by the network.
Just after some minutes our transfer status will change, your transaction will be confirmed and now you have your hard earned Basic Attention Tokens in your Coinbase wallet.
Ok, now we have our BAT on Coinbase, but how do we transform it into "real money"? Coinbase makes that pretty simple, first, you must click on the "Trade" button near your profile picture.
After that a new window will pop up with some options. Select the tab "Sell", choose to sell BAT and to deposit on your EURO/DOLLAR wallet.
Select the amount you want to sell, and press "Sell Basic Attention Token"
As you can see, fees are not very enjoyable but that is the price you pay for transforming your crypto into fiat. Your money is on your Euro/Dollar wallet you can withdraw it to your PayPal account or to your bank account. Just go to Portfolio again and select Euro/Dollar. Click "Withdraw" and you will be given the withdraw choices available in your country. I could get my money on my bank account or on my PayPal account, i chose the second. Simply write your PayPal e-mail and select the amount you want to receive, view all the transaction details and approve it. It should take less than 2 minutes for your money to be available on PayPal. You have now successfully made real Euros/Dollars using Publish0x!
I do not recommend you to convert small amounts of BAT to Euro/Dollar, you should wait until you have a considerable amount of tokens before converting them, and if you dont need the money you can keep it in the exchange until you need it or convert into another cryptocurrency.
But, what if you are the type of person that does not trust exchanges to store your funds? Well, there is an easy solution for that, you can withdraw all your Publish0x earnings to the MetaMask wallet that you learned how to create in the last post. Log in into your MetaMask wallet and find your address.
It is always under your account name. Copy and paste it into the wallets tab on Publish0x website settings. Make the withdraw request, and after the approval you will soon see your tokens in your wallet. Contrary to the first method, you can withdraw any ERC20 token to MetaMask, BAT, DAI, HYDRO, or LRC are all compatible with MetaMask, so this makes it a good choice to deposit your Publish0x earnings.
If you do not have Ethereum in your MetaMask wallet you will not be able to transfer the tokens you just deposited. You need to pay GAS fees to make transactions on the Ethereum network.I recommend you to buy some or trade some of the crypto you earn making blog posts for Ethereum. You can do that on the Coinbase exchange that we just used.
I hope you found this guide useful, if you don't have an account on Coinbase you can follow my referral link coinbase.com/join/azeved_1e , we'll both receive €9.17 in Bitcoin when you buy or sell €91.69 or more on Coinbase!
Shilling aside, i have some topics i would like to talk on the next posts:
-Transfers on the Ethereum network and gas fees
-Using Decentralized exchanges to trade your crypto
-Guides on how to install some common wallets (Trust Wallet, MEW)
-Make trade orders on Exchanges like Binance.
If you have any topics you would like to see covered, leave me a comment!