Steem Backed Dollar Public Service Announcement (SBD PSA)
For anyone with some Steem Backed Dollars (SBD) laying around, make sure to use the market to trade them for Steem. Currently on the market 1 SBD is fetching 5 Steem. In comparison, converting that same SBD will net you only about 0.53 Steem. This is almost a factor of ten between the two methods. New users (such as myself) may not know the difference and be losing out on a LOT of Steem (still cringing).
How to use the market
- Click the button up in the top right corner to get a dropdown menu and select currency market.
- In the box that says amount put in the amount of Steem to buy (about 5 per SBD currently)
- Click "Buy Steem"
It's that easy! Until the price drops, DO NOT CONVERT or always check the price before converting.
Happy Steeming
TL;DR
Use the currency market to convert SBD to Steem instead of clicking "convert" on your wallet page.
Thanks man! As a new user, found this helpful! btw, are there usually big fluctuations in SBD/Steem ratio?
I've only been here a few months, but when I started they were both about a dollar. It's only been in the last few weeks that SBD went so high. So I'd been used to converting in the wallet because it didn't much matter.
I guess thats the cryptofever for you folks xD ty man
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