Do Not CONVERT Your SBD To Steem through steemit
Yeah, yeah, SBD is rising and moving like wild fire. Now, because we feel the future of steem is brighter and like the gurus will advise, gather as many steem as you can now. Great advise! But before you try converting your SBD to steem, I'd love you to know that converting your sbd to steem directly on steemit will lead to some big big loss and regrets.
Currently steemit makes it possible for us to convert out SBD to steem in an irreversible transaction that will take 3.5 days to complete. I thought this was great until I met a bad loss I did this transaction when 1 sbd was valued at 3usd.
what you should know; Steemit calculates the Value of Steem Dollars at around $1.00 each. And not the actual market price.
I tried Converting my SBD to STEEM and all I can say is OUCH!
I converted 2.78sbd to steem and trust me, I got way below what I expected. Now, I know that it was just a little amount of SBD, but for the sake of others who might want to do this with probably a much more bigger amount, please use third party sites like https://blocktrades.us to convert your sbd to steem or rather sell it in the steemit market.
I learnt the hard way, but hopefully this helps someone...
Reblog/resteem to help a friend or potential victim
You could have asked for guidance, buying Steem with SBD from the Internal market is the best; conversion might be a slower process but thanks for bringing that to the notice of all.
My advice to you is, save SBDs and click on Market to Buy and not do conversion!
Yeah, lesson learnt. Sometimes we have to learn the hard way.
Use the internal market, it's instant and you'll get a much better price, right now 6:1
https://steemit.com/market
Thank you
I haven't used the internal market yet. Is there a tutorial about how to get the best price?
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