How To Buy And Sell SBD/STEEM On Steemit? [Simplified Tutorial]

in steemit •  7 months ago

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Experts and advanced users can look elsewhere. This will not include any new information for you. This article's purpose is to with an easy-to-read format explain how users can take advantage of Steemit's own currency market to either sell or buy their SBD/Steem earnings. This Tutorial is written upon request.


Why Sell SBD?

Due to the increased value of Steem Dollars we've seen lately, I recommend everyone to sell SBD and buy Steem. When you get Steem you can easily convert them into Steem Power which increase your voting power. That is called Powering Up and can be done within your wallet.

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Locating The Currency Market.

In the upper right corner, next to your profile picture you'll see an icon that takes you to a menu. Within the menu you'll find: "Currency Market".

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This is the symbol you're looking for.

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Currency Market is your target.


You Have Arrived To Your Destination.

At first glance you might feel confused or even discouraged. Much like @weetreebonsai did.

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To reduce any potential messages on Steem.chat regarding this, I chose to publish this tutorial, upon @weetreebonsai's request. However, everyone is welcome to send me messages with any questions or concerns you might have. I respond to each of them, even though it might take time.

Numbers All Over The Place!

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This is how the currency market looks like.

This Is How You Buy/Sell Steem/SBD.

You have two options. Buy or Sell.

If you're looking to buy Steem you do this:

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In the scenario above I've entered the amount of 5 Steem.

  • That's how much Steem I'm looking for. (The amount I want to buy.)

By clicking the "lowest ask" I will pay as little as possible for the Steem I want to buy.

  • I pay with SBD.

When you've decided the amount you want you press "Buy Steem".

The other alternative:

If you're looking to sell Steem.

steemd.png

The procedure is exactly the same.

  • Alternative #1 will give me Steem for SBD.
  • Alternative #2 will give me SBD for Steem.

If you want to buy Steem for all your SBD you simply click "Available" and "Lowest Ask". - That will give you as much Steem as possible for the lowest cost.

The same goes for the other option. You'll then click "Available" and "Highest bid". - That will give you as much SBD as possible.


Got Steem?

When you finally have Steem in your wallet you want to turn it into Steem Power.

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Here is my 5 Steem I have in my wallet.

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Click on the balance and press "Power up".

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Enter the amount and press "Power Up".


You've Now Become Even Stronger!

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Thank You @hitmeasap!!!!!! Sharing to twitter ;-)

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You're very welcome. Thank you for the request! :)

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To any folks that read this understand he went the full 10 miles in steemitchat with me.
A look at my wallet shows the level he went for me.

Thank you very much for showing me how to do this.

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You're very welcome! :)

Thank your for this. Can you tell me what "Resteem" is? Would appreciate it.

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A Resteem is similar to a Retweet on twitter or a Share on Facebook. If you press "Resteem" on Steemit, the article you Resteem will show up at your blog too, which increase the visibility. As it will be seen by your followers too. That eventually leads to more engagement, exposure and potentially increased rewards and followers too.

A BIG thank you to @weetreebonsai for sharing a link to your post from their post! Valuable info I did not have until today! Resteemed to share this information!

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Thank you very much, I'm glad you liked it! :)

It's a good article if you're using the market feature for the first time. Numbers numbers numbers! LOL. Oh and a giant green and red confusing looking chart. Once you know what it means, it's not so confusing anymore.

Buying STEEM is an excellent way to support the token. Then you can convert it to STEEM POWER at your leisure! Thanks for the explaination. @ironshield

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Thank you and yeah, I can totally understand why some people think it looks confusing at first sight. That's the main reason for this simplified tutorial. To show people that even though it might look confusing, it's a very easy and straight-forward process. :)

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It helped so well I got to help my BFF by the same actions you did for me I was able to do for her! She was fixing to go live and would have lost out had I not stepped up to the plate! I did a shoutout to you on my blog today.

An easy to follow on how to do this. Thank you. Resteemed. 😄

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Thank you, I appreciate it :)

Thank you for the tutorial.. Now i know how!!!

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I'm glad I can be of help. Cheers!

This post has received a 2.39 % upvote from @buildawhale thanks to: @hitmeasap. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.

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