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RE: [Newbie Guide] How to buy Steem
How to use the "Internal Market"? It is cheaper to buy in the internal market for investment. How will I deposit US$ so I can buy Steem here?
What is SBD?
How to use the "Internal Market"? It is cheaper to buy in the internal market for investment. How will I deposit US$ so I can buy Steem here?
What is SBD?
I got my answer from FAQ. To other newbie like me, SBD is Steem Dollars. :)
The internal market is only for trading STEEM <-> SBD. In order to purchase from USD, you will first need to buy bitcoin. Once you have bitcoin, you can use it to buy STEEM via your wallet.
I figure it out.
I hope steem will accept USD to Steem direct transfer instead of going through bitcoins. Cut the middle man (bitcoin) :) straight to steem.
Everyone wants it. Very few entities can do it though, due to very strict government regulations. In the US it would cost several million dollars for the compliance fees to setup an operation to support it.
Hopefully in the Steem roadmap as the value continue to progress.
Somebody got to do it.
It is not something I think Steemit, Inc. Is going to do. It would need to be some other company that is registered as a money transferer, like Coinbase.
I understand and thank you for sharing.
SBD are STEEM backed dollars. There is more info on this in the FAQ.
@timcliff Thank you sir.