This a way too convoluted for my tastes. minebitshares.com converts mined coins into USD and sends them to the Bitshares client. To get the USD I have to open yet another account I don't really want, convert my USD into bitUSD to transfer it to the exchange, then convert it to BTC at the exchange and send it to another exchange to convert into fiat which then deposits into my Simple account. Surely I'm missing something. Converting USD into something else then back into USD seems rather silly.
Hello Xardas2014,
As some have been nice enough to clarify, USD in the client means bitUSD. That is what we pay out in at present.
You have several options in terms of how you can convert your bitUSD. They include:
- Go into the DEX and trade your bitUSD for BTS
- Go to blocktrades.us, metaexchange.info to instantly transfer it out to BTC and use whatever remitence you are used to.
- Go to ccedk.com and get their Nanocard and then be able to withdraw the bitUSD from any ATM for cash (pending 1 week I am told, but can be done today with btc if you like)
- Wait until you have a fair balance to cover whatever transfer costs you might have with ccedk wire transfer.
If you withdrew monthly at your current rate you are going to pay about 10% overall for the wire. Using the Nanocard though it will be reduced, and you have the convenience of being able to withdraw when ever you like.
There are options just like any other mining pool in how you transfer your funds.
If you wait a little longer for 2.0 however, there will be an option right in the wallet for what you are wanting to do.. ie. bitUSD > bank.
GIven you already decided to move on though, I wish you well in your mining endevours and hope you have fun learning along the way.