Is it possible to exploit the exchange rates of Steem and SBD and earn profit from it?
Greetings Steemians!
So, the weekend has come. I hope you all are enjoying the weekend.
We witnessed good price of Steem a few weeks ago but now it has dropped again. The price of Steem was above $0.45 SBD at that time but now its about $0.35 SBD. It seems that one can exploit the exchange rates of Steem/SBD and get benefit.
Is it possible to exploit the exchange rates of Steem and SBD and earn profit from it?
- Yes, its possible.
- No, its too complicated.
- I myself has earned profit from it.
- I have not tried it.
- It seems very interesting.
Answer the question at dpoll.xyz.
Voted for
The lower the price of Steem, the more Steem you can get with your Steem Dollars (SBD), and the higher the price of Steem, the more Steem Dollars (SBD) you can get with your Steem.
I used (and sometimes I still use) the Internal Currency Market to trade between these two cryptocurrencies.
You can get profit, if you buy and sell with the right prices.
Example:
Let's say that you have $1 SBD to trade.
The current (2019.05.04, 17:58 CEST) price of Steem (Buy Steem) on the internal currency market is $0.350202 SBD. The current price of Steem (Sell Steem) on the internal currency market is $0.350196 SBD.
If you buy Steem (sell $1 SBD) with this price, then you get 2.856 Steem.
If you want profit from this, then you need to wait, until the (sell) price of Steem go up.
Let's say that the (sell) price of Steem will be $0.355 SBD in the near future.
If you sell 2.856 Steem with that price, then you get $1.013 SBD, which is $0.013 SBD profit.
Another example:
Let's say that you have 1 Steem to trade.
If you sell 1 Steem (buy SBD) with the above mentioned price, then you can get $0.35 SBD.
If you want profit from this, then you need to wait, until the (buy) price of Steem go down.
Let's say that the buy price of Steem will be $0.345 SBD in the near future.
If you buy Steem (sell $0.35 SBD) with that price, then you get 1.015 Steem, which is 0.015 Steem profit.
Nowadays I mostly sell Steem Dollars (SBD) for Steem, and I Power it Up to have more Steem Power.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I myself get benefit from it. But, sometimes it becomes very tough to predict the future price of SBD and Steem.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
No idea but an interesting concept indeed :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Just wait for the right time...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Defended (40.82%)
Summoned by @akdx
Sneaky Ninja supports @youarehope and @tarc with a percentage of all bids.
Everything You Need To Know About Sneaky Ninja
woosh
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for contributing to the dPoll content.
You have been upvoted from our community curation account (@dpoll.curation) in courtesy of This Guy... @bluerobo.
Come, join our community at dPoll discord server.
If you want to support dPoll curation, you can also delegate some steem power. Quick steem connect links to delegate:
50SP | 100SP | 250SP | 500SP
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Voted for
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit