How can you make money using steemit internal exchange ?
Steemit’s internal market allows users to buy or sell Steem and SBD. To access Steemit internal market, one needs to visit his/her wallet and click down-arrow below Steem or SBD tab as seen in the following image. From the drop-down menu one need to click on market tab there. It will take the user to the internal market.
Internal market has two parts-Buy Steem and Sell Steem. One can also set the desired rate of Steem or SBD there and buy or sell Steem and SBD. It should be noted that internal market does not allow to buy Steem and SBD in fiats or other cryptocurrencies. One can only exchange Steem for SBD and vice-versa. If one is not sure of the current exchange rate of Steem/SBD, one may accept the automatically quoted rates there. See the following image for more information:
When the price of Steem is higher than the SBD, one should sell Steem and buy SBD. If the price of Steem is low, but if it seems that it may rise in the future, then one should buy Steem and sell SBD. Difference between the price of Steem and SBD can be exploited to maximize profit. When price of Steem was around $1.7 and that of SBD was $1.15, I bought SBD by exchanging Steem as exchange rate was 1.45 SBD/Steem at that time. Now, price of SBD is high so obviously I have made a profit by that deal.
Thanks for the info!
Resteemed
Thank you dear!
An awesome guide man. If one can wait and be patient, the difference in sbd and steem rates can be big!
Certainly dear! Thanka a lot.
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