Steemit Tips: Careful Sending Payments! STEEM vs SBD
Sending STEEM or SBD? New users should double check!
I've heard from a handful of new users that when they first joined they didn't quite realize that STEEM and SBD are two separate currency.
This usually comes up when they make their very first transaction either ordering an Upvote from an Upvote Bot, sending a 0.001 payment for a membership fee, or any other transaction new users perform.
Know the Different
STEEM referred to as STEEM or just Steem is the main cryptocurrency.
Steem is the main cryptocurrency. You can purchase it on exchanges and its main use is to Power Up so your upvotes become worth more.
Steem Backed Dollars referred to as SBD or Steem Dollars
Steem Backed Dollars is what you get paid in for blogging. You actually get paid 50% in SBD and 50% in Steem Power (Powered Up Steem).
So if a payment requires Steem, you will have to turn your Steem Backed Dollars into Steem to be able to send it.
Always double check if the person/bot you're paying wants Steem or SBD.
Hope that helps! Follow for more Steemit tips and Steem On!
I agree. Make sure that the name is spelled right as well lol Lesson learned for me.
Hi @desu - from @super-grand-ad
I Have Followed - 17 JULY 2019
I DID NOT UPVOTE YOUR POST -
BECAUSE YOUR POST IS OVER 7 DAYS OLD &
YOU WILL NOT GET PAID FOR ANY UPVOTES
NORE CAN YOU BE RESTEEMED
ON A POST OVER 7 DAYS OLD
Thank you for the upvote on my latest post - 17 JULY 2019
Anyone that wants to see what @desu upvoted Click the link below
https://steemit.com/steemit/@super-grand-ad/steemit-have-locked-me-out-of-my-wallet-and-stole-my-money
To see all Resteems & @super-grand-ad posts Click the green @super-grand-ad
Have a great day from @super-grand-ad
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STOPCongratulations! This post has been upvoted from the communal account, @minnowsupport, by BizSteem from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
What's the best way of converting them and transferring them? Also if I've got STEEM in another wallet, can I transfer them to my steem account and use them to power up? Sorry I'm new to all of this
Hey! If you have STEEM in another Wallet, on an exchange, or on another Steemit account you can send it to your current account. On Steemit you just go onto the Wallet page, click on your STEEM balance, then on the drop down click TRANSFER.
Then type in the Steemit username you want to send to and the amount. When transferring from Steemit to an exchange, you will always have to fill in the Memo. But sending to a Steemit account only requires the Steemit username.
I'm still not sure the best for converting SBD to Steem. I know you can do it via the "Convert to Steem" button or at the Market. https://steemit.com/market So far I just use the Market to instantly turn SBD to Steem. I'll be looking into which is better money wise.
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STOPCongratulations @desu! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
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