Dtube Daily : Hey Steemleo What is the best SBD Conversion Strategy
In today's @dtube daily I want to ask the @steem.leo community for advice on how to properly convert and/or manage my SBD. I want to hold steem, (I think) and am look for the most profitable way to convert SBD to Steem if that is the best use of my SBD. Get? Kinda?
Anyway, looking forward to the comments so I can learn a thing or three!
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Love the vlogs about investing, they are perfect and we need them to grow the Steemleo community! Thank you for contributing such awesome content.
I wish I had a better answer for you on the SBD conversion front. I used to be pretty obsessed with it but I forgot a lot of the nitty gritty details. There are definitely times when SBD conversions are the way to go (when you expect SBD to remain under $1 for 3 days) but you only will make a small % greater so you've got to weigh the pros and cons of that approach.
My personal approach these days is to wait for a decent conversion rate on the internal market. Might not be optimal, but it works and is easy. I also will ocassionally play the internal market by converting back and forth during large rallies as the prices of STEEM/SBD get slightly more predictable (SBD and STEEM often go up together a little and then SBD will drop back down to $1 after it cools down). Not a concrete answer, but that's just my opinion :)
thanks for the input and advice. I would really like to learn "how to play the internal market". I'm not a numbers guy and I have the attention span of a goat lol. An easy formula to rinse and repeat a long with an internal market tutorial on placing orders would be my dream. Hopefully some smart Leo will answer my prayers lol
Lol 🤣
Yeah a formula and tutorial would be cool. Maybe I’ll throw one up some day of the way I do it, but I hope another Leo user does one as well!
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Perfect. Let me know when it's ready. After that I'll have more work for you lol
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