Why NOT to Sell Steem Dollar (SBD)
Photo Credit: @pinay (My Screenshot from bitLanders edited with Phonto & PhotoCollage iOS apps)
Now, I wonder if I could be one of the top earners of Steemit as well. Dream dream dream! LOL! Just kidding.
Here's what I do since I joined Steemit:
As soon as I received rewards, I always make it a point to check the Steemit "Market". Then, I would start buying STEEM and "Power Up". I only have one thing in mind -- to POWER UP.
Photo Credit: @pinay (My Screenshot from Steemit edited with Phonto & PhotoCollage iOS apps)
I know of some successful Steemians cashing out (selling SBD to BTC to fiat) due to an up-surge of SBD/USD prices.
So last December 10, I checked the Steem/SBD prices at CoinGecko.
Guess what? I knew I was on the right track since day one after all. I use SBD to buy Steem even if I intend to "Power Up" or "Cash Out"!
This was how my computation turned out:
Date: 10-Dec-2017
STEEM: 1.8337 USD
SBD: 8.7668 USD
Convert Steem/SBD to USD:
4 STEEM x 1.8337 = 7.3348 USD
0.828 SBD x 8.7668 = 7.2589 USD
7.3348 - 7.2589 = 0.0759 USD
Blockchain FEE:
SBD to BTC: 3.1 x 8.7668 = 27.178 USD
STEEM to BTC: 9.159 x 1.8337 = 16.795 USD
See the DIFFERENCE?
Photo Credit: @pinay
And here's more... due to a recent blockchain FEE increase and subsequent delays in Bitcoin transactions, it would be better to sell Steem/SBD to ETH/LTC/DOGE/DASH for fiat and to BTS for investing! DOGE has the lowest fee and would work well with Australians (for fiat).
Photo Credit: @pinay
I thought of cashing out after my first 3 months with Steemit. But my friends/relatives asked "how can we convert internet money (CryptoCurrency) into Philippine PESOS?" so I "sell" 5 STEEM to DOGE then 3 STEEM to LTC via @BlockTrades and Coinpot, "convert" to BTC and transfer to Coins.ph to show them how.
Photo Credit: @pinay (My Screenshots from Steemit and Coinpot edited with PhotoCollage iOS app)
Having been successful in selling Steem to BTS/DOGE/LTC/DASH/ETH, I will then try selling DOGE/LTC/DASH/ETH to PHP (Philippine Peso) via pinoybitcoinexchange.com or ETH to PHP via remitano.com.
Wait until you read my next blog guys!
By the way, this is becoming my favorite blogging discussion -- STEEM STEEM STEEM! LOL
]
I owe my debt of gratitude to bitLanders and most especially to its founder, Francesco Rulli for introducing me to the world of CryptoCurrency and the financial benefits we can derive from it. Watch above video interview with Francesco Rulli talking about Bitcoin and bitLanders back in 2015.
Thanks to my bitLanders friends @sam-muffins who used to blog about Coins.ph on other sites and @long888 who encouraged me to join Steemit.
Yvonne Novela a.k.a @pinay worked as an Executive Assistant in an Aviation company (Philippines) handling Billing & Invoicing, Aircraft Spare Parts Purchasing & Requisitioning, Technical Sales as well as Administrative management (read more).
I owe my debt of gratitude to bitLanders and most especially to its founder, Francesco Rulli for introducing me to the world of CryptoCurrency and the financial benefits we can derive from it. Watch above video interview with Francesco Rulli talking about Bitcoin and bitLanders back in 2015.
Thanks to my bitLanders friends @sam-muffins who used to blog about Coins.ph on other sites and @long888 who encouraged me to join Steemit.
RELATED POSTS:
- 6 Cash Outs from Steemit
- Buying STEEM and Powering Up
- Steem (STEEM) Cash Out
- Steem Dollar (SBD) Cash Out
ABOUT THE AUTHOR
Yvonne Novela a.k.a @pinay worked as an Executive Assistant in an Aviation company (Philippines) handling Billing & Invoicing, Aircraft Spare Parts Purchasing & Requisitioning, Technical Sales as well as Administrative management (read more).
another very helpful post, Yvonne. though I still get confused with SBD, Steemians etc... I'm not even sure what's that amount displayed after the post?
anyways, I will figure it out later. make a chart so it will be easy for me to recall and understand. heheh
my biological memory and cpu needs an upgrade. heheh
Maiintindihan nyo po yan pag nareceive nyo na first reward after 7 days :-D kung pinalitan nyo reward setting to Power Up 100% wala kayo SBD marereceive, mapupunta lahat ng $$$ na yan sa Steem Power (SP) 😊
Kung naka default 50/50, SBD at SP marereceive natin after 7 days old post natin. Hindi na kikita posts natin after that. Kaya vote lang po tayo sa new posts not older than 7 days. :)
Learned a lot frim your post po... Been powering up for a couple of days now.. Thank you po ng madami.. Have to learn the 100% power up settings..
Welcome po! Wag nyo gawing 100% Power Up pag nagcreate post ngayong mas mataas SBD price. 😊
Ok yung Power Up 100% kung pantay lang price ng Steem/SBD or Steem price is higher :)
Ahhh ok thanks again
Now I see the reason behind why you're after STEEM over SBD :D
Thanks! :-D
OMG just noticed I typed your username without s gosh 😁
Nice information. I'm still unsure of cashing out though. When I'm ready, I will do the small amount first also. When you cash out, do you get all the money at once or in payments?
Yes, we get all the money. The DOGECOIN amount I received at Coinpot shown on my screenshot is the equivalent of 5 STEEM (based on currency exchange rate at that time). :)
The 3 STEEM I sold to LTC is in my LTC wallet I forgot to take screenshot before converting to BTC. We can convert BTC/BCH/DASH/LTC/DOGE at Coinpot but no deposit to BCH/DASH yet so I only tried selling Steem to LTC/DOGE and convert to BTC/BCH. My DASH balance at Coinpot is from faucet.
I already tried pinoybitcoinexchange.com now I could top up my phone easily from PayMaya android app. 👍😊 https://steemit.com/cryptocurrency/@pinay/steemit-and-paymaya-philippines
I already tried pinoybitcoinexchange.com now I could top up my phone easily from PayMaya android app. 👍😊https://steemit.com/cryptocurrency/@pinay/steemit-and-paymaya-philippines
Already tried cashing out my sbd to dogecoin via blocktrades to coinpot, convert to btc to coinsph. Yes, fees are low but the problem is sending btc from coinpot to coinsph takes a lot of time. Thanks to you gurl for sharing this technique. My next goal powering up using my SBD earnings. :D
Delay delay lang po talaga BTC ngayon kahit saan kaya try altcoins kaya lang ang taas ng minimum "sell" sa pinoybitcoinexchange :( sana mag ok na agad ulit Bitcoin.
Buti nga coinsph nag iemail lagi ang WirexApp wala :)
sige try ko rin nga ang pinoybitcoinexchange :)
Mataas pala minimum sell pag pay to bank account lang. Pag Gcash or PayMaya ok lang naman 2,000 DOGE sell ko :)
masaya na rin ako sa coinpot gurl..yan na lagi ko gamit..may nakita ako post mo encashment thru jaxx wallet?okay din ba?mabilis lang transfer from blocktrade to jaxx to coinsph?pero mabilis na rin si coinpot now mgtransfer sa coinsph yung last transaction ko less than 48hours nareceive ko na bitcoin ko. :)
Ah hindi ako nagttransfer sa Coinsph from Jaxx. Dogecoin to pinoybitcoinexchange ko lang yun gamit. Kung papunta coinsph Coinpot pa rin talaga ako. :)
That's why we need you here on steemit because you know a lot of things hehe and besides I treasure my friends from bit gusto ko successful din tayo lahat dito sa #steemit
Thank You! Bili nga sana ako Steem from my own pocket (Bitcoin then Steem then Power Up) before ako magpost dito eh yun bang at least $1 muna dapat vote value ko then post ako 10 photography a day so may $10 agad ako 😂
Wala pala gumagamit ng tag na #cashout ginamit ko kaloka 😂
Grabe clap clap talaga. Ang yaman mo na siguro ngayon. Hahahaha! Parang kailangan kong upuan to para maabsorb lahat. Hahaha
Onga I bet marami na ipon yan si madam. hahahaa~ Susunod tayo naman.
Hahaha truu tiwala lang hehe
Ang galing!!!!!!!
Sis ano mai sa suggest mo, kelan ung magandang time na pag bili ng Steem Power?
Bili po Steem pag mas mataas SBD price kasi marami ka mabili :)
Kunwari ngaun sis mataas b sbd price ngaun?
Maccheck nyo po yun sa Wallet...SBD...Market yung "lowest ask" if below 1.000 ok magbuy :)
0.34 ngaun sis so ok parin?
Ok pa rin kasi di naman natin alam baka mas tumaas pa lalong nawalan tayo chance 😅
Wag lang bili if more than $1 na unless power up lang habol no choice bumili steem or change reward setting to Power Up 100% pag nagcreate ng post yun lang options :) wala naman power up option sa SBD :) kailangan natin mag Power Up asap para magkaroon vote value :)
#steem-untalented
#untlalented