The On Blockchain, Zero Fee, SECURE Internal Steem/SBD Market Most People Never Knew Existed!
I find myself at least once a week telling someone about how built into STEEM is an on blockchain market to buy and sell STEEM for SBD! I find it to be one of the most convenient features when you want to swap STEEM for SBD (or SBD for STEEM). I also find it amazing that so few people know it exists!
The best parts are:
- It is on blockchain!
- The funds never leave your wallet!
- There are ZERO fees for both market and limit orders!
- Everyone has access to it!
So where do I find this great market? Easy it is right here: https://steemit.com/market
Pro tip
The market uses the $ when it actually is SBD! I know it is confusing but if you think about it $ = SBD in the market. STEEM is priced in SBD:
Quote: $1.19 BID $1.21 ASK
What this really means is 1.19 SBD is the highest amount being offered right now to purchase 1 STEEM and 1.21 SBD is the lowest amount being offered right now to sell 1 STEEM.
This means as of writing 1 STEEM = ~1.20 SBD! This is not a fixed rate and is constantly changing based on the markets open orders!
When you say no fees people think its a trick, "what...no fees...it must be a scam! What trickery is this!" Because they are so used of being screw they don't know what its like to not get screwed.
good post!! I invite you to comment and vote in my post, I follow you follow me too
https://steemit.com/openmic/@misc.jocs/sin-ti-rawayana-cover-drum
so what is more valuable to have? SBD or Steem? Also, any idea why Poloniex has stopped all trading of steem?
STEEM can be powered up into steem power which is a fixed asset, whilst SBD will always be a liquid asset. Even though SBD is technically worth more on the market, fundamentally STEEM is much more valuable. The realistic value of SBD should be no more than $1 USD.
Thanks! hat was well done.
I think which is more valuable it depends more on whether you are looking to boost your posts and such or looking at trade at the time as well as market fluctuations but I’m kind of taking a shot in the dark. @bigdeej am I anywhere near base with that?