What is the best way to turn Steem Dollars into Steem Power right now?
Hello Steemypeeps!
I need a little help if you don't mind.
I'm not sure what the best way is to turn Steem Dollars into Steem Power at this time.
It looks like I have a choice between "Market" and "Convert to Steem".
Or, is there another way?
All I ask is that your advice should help me to get as rich as possible as quickly as possible. OK? :D
But seriously, this stuff seems to change based on the price of Steem and I just haven't had the time to understand it all yet. If you have any helpful advice I really do appreciate it.
Thank you! :)
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I posted an observation about this yesterday
There would be a good profit on poloniex if they reactivated deposits/withdrawals and (maybe the bigger) IF you trusted poloniex with your hard earned SBD
With the price of SBD being considerably greater than $1, it's around $1.60, it would behoove you to use the market tab and sell it into steem and then power up. You'll end up with more. The reverse would be true if SBD was trading less than a $1. You may even get a better rate if you transfer to an exchange and convert from SBD to steem. I haven't bothered because there isn't that much difference. I hope that helps.
Thank you, it does. It seems that most of my rewards are coming in as Steem Dollars now, is that a design of the system do you know?
I think that it's because of the fact that SBD is supposed to be at par with the dollar, essentially getting more than you deserve. I could be wrong.
For the current conversion rate, the best is still when you get the steem dollar, you should convert the steem dollor to steem using market, and then you can plaxe your order in the market. Once this is done, you can then convert that into steem power with the power up function.
Thanks for your help! :)
I used the Convert to Steem, I think the other means to sell for dollars. Hope this helps bud.