How to convert SBD to STEEM at a flat rate of $1!

Every week, I search the deepest corners of the steem platform to look for a new or underrated tool/service that I think would be of interest to some of you.

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For weeks now you might have noticed that the crypto market is in the bear territory including our beloved STEEM and SBD. Prices are so low that a lot of people finally gave up on hodling and decided to power down and cash out a percent of their Steem Power and liquid STEEM before it gets any worse to protect their investments.

While I still do believe that Steem and SBD will eventually recover from this, I do understand where these people are coming from. If I was on their place and invested some money on Steem, then I expect it to go up and not go down this low.

Anyway, I was reminded of a blog post from @therealwolf from months ago: SBD is trading below 1 USD - what now? In there I learned about one upside of SBD: No matter how low the external SBD exchange price is, SBD will always have a value of 1 USD internally.

What does this mean? Say if the current price of SBD on the market is $0.5, with STEEM's internal contract you could convert that same SBD like its $1. Pretty cool right?(would be more cool if it goes above $1 of course XD ) So how?

Introducing MWFIAE SBD Converter!

Apparently, this feature was available months ago but Steemit decided to remove this feature as people doesn't fully understand what it is for and have lost some money because SBD was priced over $1. It is however still available through code and @mwfiae just made it easy for all of us to convert.

It is worth mentioning again that if you use Steem's internal conversion, then regardless of the price in the market, it will treat SBD at a flat rate of $1. If you use this one and the price of SBD was at $1.5 then you surely will lose money. Only use this when the price of SBD is way below $1!

You can access the converter on:

https://mwfiae.github.io/SbdConverter/

From there, all you need to do is input your username, amount to be converted and your active key. And that's basically just it! You then wait 3.5 days for the conversion to complete.

Seeing as this one doesn't use SteemConnect, I first tested it out on my alt account @clauxklein to be safe. I then wondered why it was not using SteemConnect and found this interesting comment from @reazuliqbal.

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Now the next thing people would surely ask is security. You can read the full project in here: New Project: SBD Converter. Or check and use the source code itself here: https://github.com/MWFIAE/SbdConverter

 

On a personal note:

1SBD = 1.128 STEEM at Steemit's Currency Market. The market is probably the best way to convert your SBD to Steem right now. But when the price of SBD is way lower than Steem provided that they are both below $1, then the above tool is probably the best option in that scenario.

It's nice to know all these options just in case. :)