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RE: NEVER EVER USE THE "CONVERT TO STEEM" BUTTON! ALWAYS ALWAYS GO ON THE INTERNAL MARKET
I had only 0.5 SBD left, so not enough to sell on bitrex.
So I thought, maybe if I use the 'convert' button. Then I might profit from SBD's spike.
Luckily it was only 0.5 SBD.
Transfers from/to exchanges cost ZERO fees, gotta love Steem. So yes, you could transfer that 0.5 SBD on bittrex, sell it, buy STEEM, and transfer that back. However, there are commission fees for each transaction on the exchange itself.
In the end, the internal exchange remains the best and quickest solution. I recently bought 60 STEEM with 10 SBD on the internal.
10 SBD x $12 = $120
$120 / $2 per STEEM = 60 STEEM
The prices are approximate when I did the transaction. But you get the idea.
If you buy BTC in low range, wait to hit higher, and then wait steem to go low, then you maximize