Your Steemit Market - a guide to trading between SBD and STEEM
It is so easy to trade SBD for STEEM or vice versa! With the new user growth in the last couple of months, there are many new users that don't realize how easy it can be. This is a brief guide to help newer users improve their Steemit experience.
It starts with the STEEM wallet:
I use this drop-down a lot. It appears on your Wallet page. The Market feature is the bottom link. In my opinion, the Market page is the best and most efficient way to change an SBD balance into STEEM, or vice versa.
Clicking the Market button brings up this page:
The graph at the top you can mostly ignore, unless you want to trade a very significant amount. It shows the total value of open orders (market depth). Here you can buy STEEM using SBD, or sell STEEM for SBD. Never again does "I have SBD, but your enrollment requires STEEM" have to be a problem for you!
Even when I'm not trading between the two, I use this page to identify the SBD value of every post payout. I take the SP received, type it into the amount box and see what SBD value appears in the Total. I add that to the SBD reward to identify the total. It's a rough estimate, but accurate enough to determine whether promotion costs on a post was actually worthwhile or not.
Cost Efficient!
In this screen-shot, you can buy STEEM for 0.785203, and sell it for 0.783493. The difference is called the spread. The spread is how much you would lose if you bought 1 STEEM and immediately sold it. You would start with .785 and end with .783. That's only 0.22% lost!! That's less than you would pay for commissions on Bittrex or most other exchanges.
I have seen the spread run as high as 2.5% on Market, but it very rarely gets higher than that. This is why I always recommend using the market to exchange between SBD and STEEM!
Posting at 50/50
Even if you want to power up, you should post at 50/50 and then use the Market to buy STEEM and Power Up. Here is my most recent post reward:
If I had posted at 100%, instead of 4.662 SP I would have received 9.324. But look at how much SBD I received instead! I could take that 19.379 SBD and buy 24.68 STEEM on the Market page. That's a total post reward of 29.462 STEEM for posting at 50/50, versus the 9.324 STEEM I would have received at Power Up 100%. @sndbox posted a great explanation of this 2 days ago: https://steemit.com/steemit/@sndbox/how-much-is-your-post-worth-a-steemit-rewards-guide
All images are screen-shots taken from Steemit. Feel free to translate this post into different languages and keep the post rewards, as long as you link to the original in your translated version!
Just traded more SBD for STEEM this morning. That's what I did! Good guide.
Thanks, it sounds like you're on top of things then!
I get a lot of comments at @steembasicincome that indicate many newer users struggle with this. That's why I created this guide.
It took me weeks to figure out why it's better to take 50/50 so long as SBD is well over $1 USD. Thanks.
Yeah, Steem has all this arcana that makes it a difficult place sometimes.
"This is a brief guide to help newer users improve their Steemit experience."
Am new on here, thanks for sharing.
"Posting at 50/50"
alright advice taken. thanks, kindly do well to post more help for new intakes.
Kudos to you
Thanks for your support. I have typically posted much more complex posts with analysis into the game-theory, incentive mechanisms, etc. Over time I have come to understand that there is much more need for basic guides and "help for new intakes," as you see.
I will think about what other topics I should cover.
thanks for explaining it so well. wish i had known this when I was a newbie here
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