What will happen if you deposit more than needed when creating a Steemit account?

in #asa6 years ago

Thomas loves blogging. He is in a good mood today. He is creative, and he wants to try new things. Maybe he should create one more Steemit profile for testing purposes? Yeah, that sounds like a brilliant idea!

When Thomas registered his very own Steemit account, he waited for a couple of weeks for the free registration to happen. But, Thomas isn't really a patient kind of guy, so he would much rather get the registration process fixed at once. So, Thomas has decided to pay a small amount in order to get the new Steemit account registered at once.

He decides to use Blocktrades for the process, and he is ready to transfer some Ethereum to the deposit address for Ethereum given by Blocktrades. But, he thinks the new account deserves to have a good start, so he would like to deposit 50 USD worth of Ethereum to the new account, not only the minimum required to create the account. But, what will happen if he transfers more than needed? Will it disappear? Or will it be added to the account automatically, and give it a better start?

deposit create steemit account.jpg

He sends 50 USD worth of Ethereum to the deposit address given by Blocktrades. It takes about 15 minutes for the transfer to go through, but once it has been registered at the Blocktrades page, Thomas logs in to the newly created Steemit profile to see what's going on.

He can then see that he has a brand new account, ready to use at once, and it has a total of 45.46 Steem waiting for him, and 3 SP.

In other words, for 50 USD he got to create his account within a short time, and his account kicked off with 45 Steem tokens and 3 Steem Power tokens. That is what Thomas would call a flying start! The value of his account is estimated to 48,3 USD by Steemit, meaning that appx. 1,7 USD has been charged throughout the registration process.

value of account.jpg

Thomas is happy to have the new account up and running, and he is happy to have learned something new on this very day as well!


Later Thomas discovered the following text on the Blocktrades site making it even clearer:
"Any amount over the base fee will be converted to STEEM and deposited into your new account."

So, that is the answer to Thomas' question. If you transfer more than needed as you create a new Steemit account using Blocktrades, whatever is above the basic fee will be converted to Steem, which again can be converted into SP or SBD at once.

Want to read more interesting articles from Thomas? Make sure to follow him on Steemit, on Facebook, on Medium, on Twitter, on YouTube, and do not forget to visit www.thethomasstories.com.

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Thanks for the details. It was always a doubt eversince I joined steem

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