Tsuveterans and HomoSteemians! Don't use the SBD Steem Convert Service
Hey Tsufamily and HomoSteemians,
I have noticed in some of your wallets that you are converting your sbds into steem with steemit's convert service.
Please stop doing that!
You are giving away 95% of the sbd's current worth!
I am going through tsuveterans' profiles to check if people are missing out on the current sbd opoortunities and I came across some who are basically giving it away to the platform with the convert service or not selling their SBDs at all, in some cases, sitting on over 500 dollars worth of steempower you aren't using. Some sold their SBDs right away after i told them about the situation, some have no clue about it or how it all works.
If you are up to date like @steveconnor, @steevc, @tattoodjay or @oscarps who are selling their SBDs, you already know this ;)
If it's your choice to hold on to your SBDs, it's all good - maybe the rates will be even better in the future.
But if you want to use this 5:1 rate situation and buy each steem for lousy 0.2 sbd, I suggest you sell your SBDs for steem on steemit's internal market.
Explanation
1 SBD atm is worth around 10 dollars
So with the 5 SBD shown above you could buy around 25 steem instead of the 2.6 since 1 steem is worth around 2 dollars right now.
How to do it
1. Go to your wallet
2. Choose Market under STEEM DOLLARS
3. On the market you will see the current steem price and the amount of SBDs for sale you own
4. If you want to sell all your SBDs for steem, click "Available". The amount of steem you receive after pruchasing will appear.
5. Click "BUY StEEM
6. Confirm clicking "Ok"
7. You will be asked for your steemit password. Insert it and click Sign In
If the order was successfully placed, a semi transparent window will appear at the bottom left with the confirmation.
8. Go to your wallet again and check your steem balance.
9. Congrats!
Now you can choose if you want to sell your steem or power up.
I power up pretty much all Steem I earn right now.
Just click your steem balance and choose "Power Up"
Hope this helps
Let me know if you have questions
Best Wishes
JUMOWA
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Thanks for articulating this so well! Resteemed! Good looking out, I love you too man!!! 🎃✌️
thx for the resteem
By the way @jumowa, I resteemed and then featured your post in my weekly review: https://steemit.com/life/@steemseph/continued-7-day-review-featuring-california-landscapes-rockabilly-and-gorilla-videography-tactics-part-2-of-2-because-wordpress
thx. This post is 11 days old so im not earning anything on it anymore
I know, I'm late. I've tried to compensate with my 100% upvote. 14 cent at the moment.
ty. 😊
Thank you for your advice
you are welcome
Thank you so much for this!! It was simple and your explanation was perfect!! And here I have thinking I needed to use Coinbase or one of those trading sites. I'm powering up!!
Thank you Melinda, I'm glad to hear that.
I resteemed it... I'm guessing there are many others like me who will benefit! You are my newest hero!!
I think so too. Thank you Melinda, happy it worked for you :)
You know, @jumowa... this is the best explanation so far on selling SBD to buy steem, and powering up - simple and easy to understand, and best of all - it works! I was doing this before and now use this to show all newbies I come across. A biggg Yayyyyy! to you.... 😄
Merry Christmas 🎄 and a Very Happy New Year to you & yours!! ✨
Thank you Ackhoo 😊. Merry Christmas to you too!
😊
Too late: https://steemit.com/steemit/@pipurilla/i-lost-almost-all-my-sbd-how-could-this-happen-a-warning-ich-verlor-fast-mein-gesamtes-sbd-vermoegen-wie-konnte-das-geschehen
But nevertheless thanks for the greatly written article! :)
I wish I had written it sooner now
No, there were lots of warnings already. I should have read them, but I was fully involved with my theater rehearsals and my days began at 6:30am and often ended at 11:30pm. So there was not to much time to read a lot. :)
I hope it wasnt such a big loss for you. Hope you spread the message to save others from possible sadness
Some 450 SBD, all in all! But no problem, I take it easy - it was only virtual 😃
I've spread the message, but fortunately they deleted the convert button in the wallet - to late for me, but guess this will save a lot of money to our fellow Steemians.
Very useful tutorial. Thanks.
Thank you for the tutorial friend
Wow!!! I had no clue! Thank you for sharing the right way to do it @jumowa. Steemit’s converting sercive was just so convenient and easy to use I didn’t think about checking to see if there was a better way. I will be doing this from now on! Thanks again, Upped and Steemed so others will know about this :)
Thank you for spreading crosheille and glad it is of help
Absolutely! 😊
Thanks for walk through of using the market tab. I was one of the knuckleheads that went sbd to steem. Just converted the right way thanks to you . (u)
Great! Hope more Knuckleheads see it. I wish Steem staff themselves made a post about it
Upvoted ,followed , resteemed . Thanks for the post im going to dk this next time 😊
Thank you!