#Guide: How to convert your SBD into Steem using the internal market [EASY]

in #steem6 years ago (edited)

THE other day I wrote a small piece on how you can transfer your funds out of Steemit and into Bittrex however, today, I am going to share with a quick and efficient way of converting your SBD into Steem and if you like, convert your Steem into Steem Power.

First off all, I believe it'll help to understand just what the different 'currencies' are for.

SBD: [Steem Based Dollar] This is the internal currency on Steemit.
Steem: This is the basic building block of Steemit.
Steem Power: This is Steem converted into Steem Power so as to increase the weight of your vote.

Note: If the above is incorrect, feel free to correct me.

Now, from what I have experienced so far on Steemit is that the majority of its users have come here TO EARN MONEY.
Although that is fair, I am somewhat saddened that some users do this by plagiarizing content from the web or even other Steemians - even some whales do this. I would however ask you to be mindful of what you post and ensure that it meets the following in terms of standard: QUANTITY, QUALITY and ORIGINALITY.

Long story short, you did not come here to hear me rant so let's get back to business.

Converting your SBD into Steem using the internal market:

I get it, I was there and pretty much still am. As a new user who has just reached their first total of 4SBD, losing that by selecting the wrong tab or whatever can be upsetting.

Follow these steps and we'll have you on your way to owning more Steem in no time.

First off, you'll want to click on the icon where your profile picture. If you do not know where that is, have a look at the top right part of your screen - it is the circular icon on the far right.

Now, head off to your wallet.

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You have now arrived at the internal market where you can exchange SBD for Steem - keep an eye on the exchange rate and, if it is bad at the moment, wait for it to stabilise or improve before exchanging as you want to get as much as possible to make it worth it.

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Once you have done as shown in the image above, you'll want to click on BUY as indicated below:

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Once you have selected BUY, a pop up window will appear asking you to confirm the order, as indicated below:

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Once you approve this, another window will appear and you will be asked to fill in your username and Active or Owner key or Master password - for safety reasons I would advise you at all times not to use your Master password where you are able to. Provide either your Active or Owner key.

Select sign in once all filled out and thereafter the order will have been placed. Within a few moments, you will receive your trade amount value of Steem.

If you do not know where your various keys/passwords are stored:

Head back to your wallet and take note of the three tabs at the top: Balances, Permission and Password.

Select Permissions - this will take you to your various keys/passwords. Select an applicable key.

Now, once your Steem has been added to your wallet, you can do a few things with it.

  • You can Power Up and by doing so increase the weight of your vote, or;
  • You can enroll someone of your choosing in the @steembasicincome where both you and your chosen Steemian will benefit through receiving upvotes from one of the many @steembasicincome accounts. (This cost you 1.00 Steem per entry)

For more information on @steembasicincome head to Steem Basic Income

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Where do I find the active or owner key?

Head to your wallet and select the tab at the top labelled 'Permissions' Untitled-3.jpg
Once you have accessed the tab, your various keys will be visible there.

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