Do Not Convert SBD to Steem On Steemit! Use An Exchange! -- Here's Why :)
Steemit has a built-in feature that allows you to convert SBD (Steem Dollars) to Steem. The problem is that 1 SBD is valued 1$ worth of steem when 1SBD is worth more than a dollar. Using this trick you can get a lot more Steem from your convefrsions.
Now let's do some math:
Wrong method:
Converting SBD to Steem on Steemit:
Let's say 1 Steem is worth 2$
1SBD = 1$ of Steem
1SBD = 0.5 Steem
Right Method:
Converting SBD to Steem Using an Exchange like Poloniex or Bittrex:
Let's say 1 Steem is worth 2$ and SBD is worth $1.60
1SBD = The conversion in Steem
1SBD = 0.8 Steem
0.8 Steem > 0.5 Steem
Get your steem smart and get more of it!
Will check it out next time. Thanks!
Please up vote and follow, my next post is gonna be amazing. My first video! Seriously. It's gonna be huge.
: )
#payitforward
I'll wait in anticipation @flycryptoguy !!! Followed and eagerly waiting haha
thanks for sharing! how about using the internal market in Steemit? is it a good idea?
@kenchung the internal market is okay to use. I am not sure about the fees but the math pans out
I'll take a look at it right now and do the math and see what's up
Nice post kmax!
Good post but don't use poloniex right now, its going through some shit!