How to Convert SBD to Steem Power - A Visual Guide to Powering Up

in toolkit •  2 years ago 

171010_SBD-to-SP-01.gif

@sndbox toolkit posts are designed to help cryptocurrency newcomers get acquainted with the ins and outs of Steemit and the blockchain ecosystem. If you have requests on components or systems related to Steemit that you would like to see explained, please let us know in the comments below.

Exchanging Steem Dollars (SBD) for Steem Power (SP)


In this tutorial, we’ll walk you the basics of how to convert your idle SBD into SP. This is a beginner’s guide that will go through the simplest method! (For the intermediate and advanced Steemians among us, there are a several ways.)

To begin, start at your homepage.

  1. Select the “Wallet” tab
  2. Under “STEEM DOLLARS” click the carrot to the left of your $ amount
  3. Select “Convert to Steem” from the menu of options **

** There's a wait time. It takes 3.5 days for Steemit to convert SBD to Steem. Once the SBD have been fully converted to Steem, the full converted amount will appear under “STEEM”

171010_SBD to SP-02.png

Now (in this tutorial example) your 20 SBD has been fully converted to 18.52 Steem and you have 0 SBD remaining in your wallet. (Remember, that conversion takes 3.5 days to complete.) Now, you can "Power Up" your Steem by following steps 5 through 6, below:

  1. Under “STEEM” click the carrot to the left of your $ amount
  2. Select “Power Up” from the menu of options

Congratulations! You’ve just converted Steem Dollars to Steem Power!

171010_SBD to SP-03.png

Why Should I Power Up? (Pros and Cons)


Powering up comes with some nice advantages. For one, it makes your upvote stronger. Every bit of STEEM that you power up with increases the value of each vote you deliver to other Steemians. You can measure the weight of your vote at Steemnow.com.

Second, having STEEM Power over STEEM is more secure. In the unlikelihood that your account is accessed by someone else, it would require further effort and a great deal of time to transfer that crypto if it is in STEEM Power.

One main disadvantage is that the STEEM is no longer “liquid” and requires you to “Power Down” over a substantial period of time if you wish to withdraw and transfer any cryptocurrency. We’ll go into detail of what powering down entails in a separate post.

Breakdown of SBD and STEEM & STEEM Power


Here is a breakdown of the basics, including descriptions of what each category means.

Currency
Description
steem.gifSTEEM - is the central currency on Steemit.com. It’s a cryptocurrency or “token” very similar to Bitcoin. You can earn STEEM by blogging, commenting and upvoting content on Steemit. This section of the wallet shows your “liquid” STEEM meaning you can withdraw these tokens at any time. You can also move STEEM to SP in a process called "Powering Up" (learn more about this below).
steem-power.gifSTEEM Power - (or SP) is the same as STEEM. SP though, indicates how much influence you wield in the Steemit community. The more SP you have, the more valuable your vote becomes. Unlike the liquid STEEM in the first section, SP is locked in unless you click “Power Down” (learn more about this below).
steem-dollars.gifSteem Dollars - (or SBD) is a secondary currency on Steemit.com. Value-wise, SBD are designed (algorithmically) to equal approximately $1.00 USD. You can earn SBD by blogging and commenting on Steemit.com. Just like STEEM, this section of your wallet is liquid, meaning you can withdraw these tokens at any time or you can “convert” your SBD to STEEM (this is an exchange that takes a couple days to process.)

Want to learn more about the Steemit Wallet? Click here!.

Exploring More @sndbox Steemit Toolkits


Thanks for reading! We hope you found this "SBD / SP Guide" useful. If you have any questions or ideas for future toolkits, please don’t hesitate to reach out in the comments section. Check out our other resource posts for helpful tips and ideas on our Master Toolkit Post.

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Now would be the best time to rack up some steem as its price is 1.1 :)

It should rocket when the smts launch.

Cheers and thats for sharing the article, the gif is also freaking amazing rly

Thanks @vangelov!

For nothing brother ^^ Keep on spreading the joy !

Useful information @sndbox
This tutorial can help new steemian

By the way are you see my appreciation design for you in my blog. Please check @sndbox

I resteem this post

Thanks for your support @arie.steem!

Welcome @sndbox hope you can follow me back
sndbox.jpg

Hi @sndbox! I'm already translate this post to my language Indonesia.
You ask me to put the link in the comment field. And here it is.
https://steemit.com/toolkit/@isaideureka/cara-mengkonversi-sbd-menjadi-steem-power-panduan-visual-melakukan-power-up

Thank you for all the details! I'm following you.

Postingan yang sangat bagus untuk pemula seperti saya. Saya semogakan kedepannya anda bisa melanjutan dari postingan ini.
Terimakasih banyak teman.

Thanks @nuzultantawi, glad it can be useful for beginners :D

Great post :)
This is great help for new users trying to figure out the different types of places you can hold your steem and the meaning for each.
Keep the posts coming :)

Thanks for the support!

Am going to do this process now. I need more steem power

Hi

Its nice post..

Thank you!

Thank you the information, especially the link to steemnow

Glad to be of help!

Power will increase if we help each other.isn't it?

Trying to convert thru Blocktrades at the moment, seems like it's not recognizing me, but maybe it's part of the on-and-off glitches that have been occuring

Congratulations @sndbox! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments

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By upvoting this notification, you can help all Steemit users. Learn how here!

What a powerful talk Excellent talk! All what you said is certainly true

so if i up my voting power, do I earn more?

Yes, you earn more through your own posts (since your self-voting value will be higher) as well has higher curation payouts.

thanks

wahoo!! It worked! Thanks. I'm focusing on "101" info these days...

Great! We recommend checking out our Master Toolkit for more tutorials and fundamental guides.

Thanks that helps

You're very welcome!

Very helpful information. Really useful post. Thank you very much

Thanks for reading!

Thank you so much for sharing I found this so helpful thank god for SteemIt 👌👍 thanks again 😊 xxx

Glad to be of help!

Thank you @sndbox for your nice post. But I have a doubt. More I have steem power, the more will be my voting power which will help the other steemians. But what will be my benefit ?

Higher voting power also means you earn more since you upvote your own posts and through higher curation rewards.

Really simple and beautifully explained method! thanks for sharing!

Thanks for reading!

great information
as a newbie with some STEEM good task to have this afternoon
thanks
upvote and follow

Thanks for the support!

wow nice post

Thanks!

Its a useful tutorial for the newbies. I am thinking if you can also give an example of Market, that would be great :)

Yes! That's a great suggestion we'll do a post on "Market" exchanging soon :)

@sndbox, you guide was most helpful and detailed. Thanks

Thanks for your kind words and support @jassarias!

Im a new user and didnt know these in detail.. thanks.. :) keep sharing...

Excellent! Glad this could be helpful as you find your footing here :)

thanks again :)

Thanks this is something I was waiting for when I first signed up, although I kind of worked it out myself now, its a good explanation.

Thanks for this tutorial!

Upvote and resteem to share with my followers !

keep up the good work friend. just made a TA post on STEEM, you may like it.

https://steemit.com/steemit/@palani/steem

Excellent post. This is very informative

@bindubobinson - do check this out.

Thank you sir, I tried this method and was successful in converting a small amount. I am relatively new here and have not earned much but wanted to try it out.

Glad we can help!

Useful information man

Thanks @agentzero!

Gracias muy biena la informacion.

Good info, thank for sharing

Thanks for the support!

Thanks @sndbox! You help the world make sense.

You're welcome @erb! We'll try to make some method of the madness. =)

Great info. Thanks for taking time to outline in a clear and informative format.

Thanks!

Great info, thank you very much!

You're very welcome =)

Great guide for new steemit users wondering how to convert between steem and sbd. Thanks for sharing and if I find any new steemians I'll send them your way.

That's great to hear, thanks for your support @gniksivart :)

I read your article well. That's a lot of help to me. Thank you.

Glad to be of help!

Hey @Sndbox, I have translated another wonderful post from you into German. Thanks for the great contributions! You're doing steemit amazing.
https://steemit.com/sndbox/@cryptogainer/was-ist-ein-steemit-upvote

Thanks for the tutorial it is much appreciated.

Thanks for sharing! Links to your post were included in Steem.center wiki articles about STEEM Power (SP), Steem Dollar (SBD) and Powerup. Thanks and good luck again!

Thanks for sharing this helpful information. Is there a way to covert it without the wait time? I found so many confusing posts but they were from a year ago.

There is a way (the "market" option)! But it requires a bit of explanation, we're working on a tutorial for it soon :)

Ok thanks for letting me know. I will keep an eye out for it. Have a great day :)

Don't just hold steem, Keep powering up !!

NIce Post...

You can find Russian version of this post HERE


Русская версия тут

Can you tell me when and why this changed?

I can't find "Convert To Steem" under the Steem Dollars carrot.

Thanks for any information you may have.

😄😇😄

@creatr

What if there isn't an option to convert into steem?

I would like to know as well. I guess the wording is changed and just clicked "transfer to savings". I'll let you know what happens

That just transfers funds to your savings. You have to wait 3 days to get your money out of savings I believe. There isn't an option to convert into steem but you can just go to the "market" and buy some steem there with your sbd.

My guess was: I have SP, SDB and STEEM on my wallet, so I thought my savings were steem (if not where are they supposed to go now?)
It's weird if there is no way to power up without bringing money outside the platform, isn't it?

There is. I haven't put any money into Steemit and I powered up 40 Steem. You just need to click on the steem amount on your wallet and choose to power up. Savings are only used to secure your funds in case of hack for example. It would take 3 days for the hacker to get out your money.

Thank you that was very helpful and very clearly explained! I for one, found it quite confusing and therefore hesitated to do anything in my wallet. But now I understand the reason and the process.

Glad we can be of help!