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RE: Steem Infographic: Basics of the Steem Wallet
The steem power from a post power automatically goes into the long term hold (13 weeks)
The steem dollar will show up in your balance. You can decide to:
- Leave it there
- Put it into savings
- Sell it for Steem using Blocktrades
- Trade it on the open market for Steem
- Sell if for bitcoin, litecoin, doge, bitshares or ethereum using Blocktrades
I think the best way to buy steem with bitcoin would be through blocktrades. If you simply want to convert steem dollars into steem, definitely do it through the open market.
Hope this helps!
It does help I guess I am curious what do I do with Steem Dollars, steem power and all of this. I guess I'm having a hard time understanding what to do with all these currencies and should I be pulling things into savings as a NOOB or just putting it back into steem dollars?
I appreciate your questions. I'm only one person, but I'll try to address this in an infographic soon! :)
Well, in the short term, I'd use the open market to trade steem dollars for steem, and then power up. If that doesnt make sense, I'll try to explain later :)
Great stuff my friend. I’m very close to getting it!