Buying Steem Delegation - Moving on from BlockTrades to MinnowBooster
Good morning, everyone!
Over the last couple of months I have been renting some SP, in order to grow my account faster and also to be able to Upvote on more than 10 posts a day, while keeping my Voting Power above 85% at all times.
So far, so good... I was being able to receive enough STEEM to stay break-even on that investment.
But now, it has been brought to my attention I was not getting a very good deal in BlockTrades.
As such, I'll be moving on and I've allowed my current 577 SP delegation to expire.
Since my Delegated SP has been temporarily reduced to half, I went on a little voting spree (to capitalise the investment a little more...) and consequently, I'll need a few more hours than I would normally need, to recover.
So, let's get to the Math of this:
- On BlockTrades, for 65 STEEM, I got 577 Steem Power for 90 days;
- On MinnowBooster, I'm offering 77 STEEM, to get 1800 Steem Power for 90 days;
Overall, both options are simple to use, even if MinnowBooster seems a little more complicated at first...
| Convenience You can pay with Bitcoin, Ethereum, Litecoin, Steem, Dash, Monero and others; |
Expensive Service This option is a lot more expensive than the average rates being offered at MinnowBooster; |
| Liquidity Steem Delegation is immediate. As soon as you buy it, you'll have the SP available in your Steem Account; |
Extra Account Needed
You'll need to create an Account at BlockTrades; |
| Excellent Rates The average rates being offered at MinnowBooster are much better; |
Inconvenience You need to Buy Steem at some exchange, send it to your Steem Account... and only then you can put up an order; |
| No Extra Account Needed
All you need is your Steem Active Key; |
Lack of Liquidity Until your order is filled (or expires), your money will be locked up; |
MinnowBooster might be a little more complicated to jump into than BlockTrades but if my order gets accepted, it will be nearly 3x cheaper!!!!! How crazy is that!?
In 3 days, I'll know if the market filled my order or not.
Crossing my fingers. Wish me luck. 🍀
Thanks, @thedarkhorse, for suggesting this option. MinnowBooster really seems to be a lot better option than BlockTrades! 😄
@trincowski signing out.
I just can’t move past the man and the train... he just keeps walking like nothing happened?! This is quite a good post for me as I understand next to nothing about delegation and it’s beginning to enter my field of vision as something I should pay attention to. Best of luck with your choice, sounds like you’ve done your research and taken a calculated risk, I believe!
Yes, I have. I wanted to buy some Steem... but I couldn't afford to buy too much. This option seems better for my wallet.
Ehehehhe, the guy is probably immortal! He couldn't care less.
Interesting! I never thought about renting SP... but possibility for giving extra upvotes is a huge attractive. Let me know how it goes with minnowbooster!
It shouldn't be a problem, since I've offered a good rate: %15.539 APR
At the moment, for a lease around 12 weeks and a similar investment value, there's only one offer better than mine, the one from @reonlouw:
https://www.minnowbooster.net/market?direction=asc&sort=effective_price
I'm confident someone will come and accept my terms.
18% has been the going rate, if you get better then I need to adjust my lease for minnowbuilder10 with BJ.
Got it! 😁
Do you remember what that was equal to on a per steem basis per week?
280
Thanks for the info.
Congratz! ;)
Hi @trincowski! How do you think what is the more profitable period to rent SP? I mean 1 month 2 month or more? And one more question In yours opinion what is more profitable to sell your votes or delegate SP to such services like Minnowbooster?
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Hi there!
3 months have been working out very well for me.
About the second question, I don't know. Never tried doing any of that.