How to take advantage of the High SBD without leaving the site

Hello out there to all of my friends and neighbors, and lovely family too ;p

We have an opportunity these days that, from analyzing the market history, might come around just once a year. Our SBDs are high, and as a wonderful user has explained here, we should not power up our posts nor use the converter at this time.

_{Green means yes, Red means No}

See in the image above - you do not want to convert. Why is that? Some of you, @snook for example, were told by me to covert.

Converting an SBD will give you 1 US Dollar worth of Steem. So when the SBD is valued at less than a dollar, as it was a while back, even as low as 85 cents, it makes more sense to convert them into a dollar then sell them for less.

Now the opposite has happened. SBD's have gone as high as 17 dollars. We wouldn't want to take 17 dollars and trade it for 1 dollar would we?

Maybe the best way to sell SBD's is going to bittrex. I have also tried blocktrades.us which is extremely fast and easy to convert. After spending last night helping a friend to get to the following screen, I have decided to write a 'Step 1' Article about what you can do NOW to take advantage of this opportunity, while you get verified and learn about blockchain markets later.

_{Bittrex, by law, needs your information}

So Bittrex requires verification, blocktrades.us does not, but will convert for you to bitcoin or litecoin (way better transfer fees with litecoin!) and so you must understand what to do with those coins after that.

There are many ways to play with crypto, and although I haven't tried them all yet, I do believe I have tried so many of them that I can make this advice article.

_{SBD flying out of wallets}

But there is an option where we don't even leave the site. It is the internal market! Let's go there now by clicking on the SBD drop down menu, and clicking market.

_{Click! Do it now in a new tab!}

Once we get to the market, we will see a screen like the one below. It is important to remember that all of this information can be studied at you leisure, for now we are only going to need to know enough to sell. We can learn how we made so much money after we make the trade!

The first thing to note is that this is a market for buying and selling steem, not SBD. But since we can only buy steem with SBD, we will just have to BUY STEEM when we want to sell SBD, and SELL STEEM if we want to buy SBD.

And thusly, if we are selling our SBD for steem, the lowest price is the better, since we are really buying steem with the SBD.

Ok, enough of that. Lets buy some STEEM.

_{Direct your gaze at these tiny boxes!}

This is all we need to know. Notice here that a price automatically fills itself in. Now, when you buy and sell on a market such as this, it can be very beneficial to understand what ASK, BID, and LAST. But since we are just selling, and we hope to sell immediately, we should be comfortable using the 'lowest ask' price.

Under these boxes, notice that Available and Lowest Ask are buttons, if you click them, they will automatically fill their information into the boxes. Available is how much SBD you have to buy STEEM with, and if you click that, it will think you want to sell all of it. You can lower the number manually if you only want to sell some.

Lowest ask is the best price on offer right now, and is constantly updating, so if you have stared at the screen for awhile, click this again to update the number.

When you are ready, click BUY STEEM

_{0.101 for 0.667 - You've lost me again}

So I don't have any images of the pop ups, but you should get a nice pop up that says that your order has been placed. If you used the lowest ask, by the time you get back to your wallet, or maybe 30 seconds later, you should see the steem in your wallet, and the transactions in your history. Remember, if it is a large amount you are dealing with, it may not all go through in one go.

So above you can see one such transaction that I did last night, with 0.101 SBD that I received from an article I wrote (this is why we don't power up when SBD is over $1, watch this video, I sell the SBD for steem and then power it up, or pay my rent). I was able to convert those '10 cents' into 0.677 STEEM. With the current price of steem at $1.76, thats like turning 10 cents into $1.19!

When you get the STEEM, power it up! Or sell it. Soon I will have an article about paying my rent with Steem; That's right we can turn it into actual cash! But there are many more steps. So let's start here.

I hope I was able to be helpful for you today! Leave your questions in the comments!

Love and Light to All!

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Posted on Utopian.io - Rewarding Open Source Contributors

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