OMG I Wasn't Using the Internal Market - Don't Make this Mistake
So my first weeks payouts are rolling in and I F*CKD UP!
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If you haven't experienced this already, then good, READ THIS so you don't have to make the same mistake. Warren Buffet says, you can learn from other people's mistakes, they don't have to be yours. I agree with him. And so should you.
Okay so my mentality here was as my rewards started coming in I would claim them, convert it to Steem and then convert that Steem to Steem Power. That's the goal here for the long term.
What I complete forgot about and failed from reading was this little part right here.
The problem is that: 1. I was doing the built-in conversion that takes 3.5 days to convert. That's why you see a little over 12 SBD in conversion and 2. I was using the default "tokens worth about $1.00" of Steem , rather than the actual SBD/STEEM conversion rate.
Here is how you don't make that mistake.
Redeem your rewards like normal by clicking the redeem rewards button.
Now you can click the drop-down on your Steem Dollars, but instead of clicking convert to Steem, just click market.
You will then be taken to the internal market. In the Buy Steem section you can simply click "available" and all of your available Steem will be calculated for you, and then click buy.
You've successfully converted your SBD to Steem instantly and now you can hit the drop-down on Steem and Power Up.
The moral of the story is DON'T CLICK CONVERT TO STEEMon your SBD drop-down menu.
Hope this helps.
How about that SBD/STEEM conversion today!
@aaronsthilaire
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how much did you earn so far? i joined just 2 days back.
Hey @ishratamin, if I were to guesstimate in USD, about $65.00. It was around 25 SBD and 15 STEEM POWER. Thanks for commenting.
Thanks to you too...your Article was really helpful to me too. Hope I wont make the same mistake :) :)
Only thing left to do now is actually have some Steem to convert
Thanks for the article bro!
Nice tip sure won't make the same mistake
Good to hear @norfork37!
Tip: upload a picture!
Well I really haven't earn much Steemit dollars because I feel that will come later. But thanks for the heads up on clicking on market instead of convert. I will be sure to refer back to this post when the time comes.
I understand. As long as you are posting comments that show you actually read or watch the videos in the posts, you'll be earning your fair share. No problem though, glad I could help!
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