Newbie Guides: How To Convert SBD To Steem On The Internal Market

Greetings, worthy new citizens of the Steemiverse! Are you interested in converting your SBD into Steem so you can power up for #SPUD, or just to have more RCs so that you quit running out, but wallets are weird and markets are confusing? Worry not, for this is:

The Quick And Dirty Guide To Converting Your SBD To Steem On The Internal Market

We will get through this together! I believe in you!

OK so many words have already been written about the new separate steemit wallet, so I'm going to presume that you know how to login to your wallet by now. Once you have done that, go to where you see how much SBD, or Steem Dollars, you have, and click on the arrow to reveal a dropdown menu:

The third choice down says, "market." Click on that.

You will come to a screen that looks like this:

I know that looks kinda overwhelming if you've never seen a crypto exchange before. You can pretty much ignore most of the screen for simplicity's sake, and just look at this part:

OK, so. The market will automatically fill the "price" slot with the cheapest Steem available. You can always try and sell your SBD for more, but the order will sit there until and unless someone comes along who is willing to sell their Steem for cheaper later - basically, you're putting in an order in case the price of Steem falls more, that will be in limbo until it does (or until you cancel it). But presuming you want to sell now so you can power up, we're just gonna sell for the best price you can get right now, yeah?

Yeah. Except this is where you find out:

the market is fucking broken.

It is, but don't worry, there's a workaround.

If you type in the amount of SBD you want to sell (I typed in the paltry amount I had available), it will autofill the "Steem" field with how many Steem you would get at that price. EXCEPT, when you click "buy Steem," it will magically change the price from what was in the "price" field, for something cheaper, like this:

Please note, 0.355556 is less than .356173, the cheapest Steem available, and what you had in your "price" field.

If you try and go back and change the "price" field, it won't fix it. The workaround is to go into the "Steem" field and type in .001 less Steem than you should be getting for the price available. In this case, instead of me getting 0.045 Steem, I change it to read 0.044 Steem, like this:

THEN when I click "buy Steem," I get:

...a little bit more than the cheapest available price, but eh, eff it, I say.

I told ya this was quick and dirty, and I don't worry about a penny here and there. If you do, I don't know a better way, sorry.

Moving on! I click "OK." You will then get this pop up message at the bottom of your screen:

You can either click "dismiss" or just ignore it, and go back to your wallet - click on your icon in the top right hand corner to get the drop down menu and click on "wallet." Once the order has had a moment to process (you might need to reload the screen in a minute or two), you will see this in your transaction history:

Now you have cool, cool liquid Steem with which to power up.

How do you power up? Simple. You click on the drop down arrow next to the number of liquid Steem you have, and there is a "power up" option. Click it, and you can tell it how much to power up just like you were sending a transfer - only it will say "transfer to vesting" - that's Steem Power, because what you actually have is "vests," and "Steem Power" is a simplification of "vests." But many words have been written about that as well, so I won't get into it, except to say that the number under your fishie icon on your SteemitBoard? That's the amount of "vests" that you have. Now you know.

This was a screencap I took when I first became a minnow. Minnowhood = one million vests, which roughly equates to 500 Steem Power.

And there you have it! Quick and dirty market guide, just in time for Steem Power Up Day. I hope it was helpful!

Steem on, my friends!

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