Blocktrades to the rescue

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Over the last few weeks, the rise of Steem dollars has been nothing short of phenomenal. Many were caught off guard because there was really no point in keeping Steem dollars laying around.

I was one of the lucky few who had some Steem dollars lying around. I was looking to buy some Ethereum with it and I knew that Steem dollars was going to rise. I saw the signs.. I.. Well, to be honest, I was just lazy and I suppose being lazy pays in certain very rare occasions. This apparently was one of them.

Upon the rise of Steem dollars, I wanted to invest in Litecoin. Being at about a hundred dollars at that time and the bitcoin network jammed up and it's high transaction fees, it seemed like a good choice. There was just one problem.

The problem

From where I'm from, there seemed to be only one feasible exchange that allows for FIAT currency to Cryptocurrency exchange. The exchange also only offers exchanges between Bitcoin, my local currency and Ethereum, which was good, but no way to exchange my Steem dollars.

I could of course, go through other exchanges but I'm still new to this. So the only way I could get Litecoin was to send my local currency to my exchange, buy up Ethereum or Bitcoin, exchange it at another exchange for Litecoin or any of the ERC20 Tokens. However, when I found out about Blocktrades, things changed.

Blocktrades as the solution

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Blocktrades allows me to use my Steem dollars to buy into other Cryptocurrencies. Through it, I was able to get some Ethereum and Litecoin while it was lower or even exchange it to my local currency. Of course, that still required me to convert it into Bitcoin or Ethereum before sending it to my local exchange.

However, the beauty of Blocktrades was that it allowed me to get into other Cryptocurrencies. This was done through using Blocktrades to buy Ethereum and Litecoin. When the prices of Ethereum and Litecoin went up recently, I was able to use some of the earnings to buy into other Cryptocurrencies such as Eos, Monero, Lisk, Tenx and Golem. This has helped me diversify my portfolio quite a bit.

Furthermore, I used to use Steemit's three day conversion from Steem dollars to Steem, but with Blocktrades, this acn be done instantly. Instead of converting the Steem dollars first to Steem then to Steempower, I can do this immediately via Blocktrades. Needless to say, this has saved me a lot of time.

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Conclusion

Thanks to the use of Blocktrades, I have been able to really diversify my Cryptocurrency portfolio. While this is also made possible by other exchanges, it has lowered the barrier towards getting other Cryptocurrencies. Instead of mining and obtaining other tokens via proof of work, Steemit's proof of brain has made my Cryptocurrency portfolio possible and at the same time, Blocktrades has rescued me from the arduous process of delving into other Cryptocurrencies.

So if you are like me and you do not have a good exchange in your country that can exchange Steem or Steem dollars, do give Blocktrades a try.

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