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Step 2: Convert STEEM to USD
To convert the amount of STEEM earned from Steemit.com to US dollars, we need to use a current exchange rate. The exchange rate may fluctuate over time and can vary depending on where you get it from.
For this example, let's assume the current exchange rate is 1 STEEM = $0.45 USD (please keep in mind that actual rates are subject to change).
steem_balance = 1000 # Example balance in STEEM
exchange_rate = 0.45 # Exchange rate from STEEM to USD
# Convert STEEM to USD
usd_balance = steem_balance * exchange_rate
print(f"Your balance in USD is: ${usd_balance:.2f}")
In this example, we're assuming a STEEM balance of $1000 and an exchange rate of $0.45 per STEEM. The calculation steem_balance * exchange_rate converts the STEEM balance to US dollars.
Step 3: Adjust for Fees
After calculating your balance in USD, you might need to adjust it for fees. These could include withdrawal fees from exchanges or conversion fees when changing currencies. For this example, let's assume a fee of $5 is deducted from your total.
# Calculate adjusted balance after deducting fees
adjusted_usd_balance = usd_balance - 5
print(f"Your adjusted balance in USD (after fees) is: ${adjusted_usd_balance:.2f}")
This step involves subtracting the fee from your calculated US dollar balance to find your final, adjusted balance.
Step 4: Round Off
Finally, you may want to round off your balance for easier handling or display. This could depend on whether you're dealing with a financial institution or personal accounts.
# Round off balance to nearest whole number
rounded_usd_balance = round(adjusted_usd_balance)
print(f"Your final rounded balance in USD is: ${rounded_usd_balance}")
Here, we use the built-in round() function to round your adjusted balance to the nearest whole dollar. This makes it easier to display or handle in certain contexts.
Full Example
Putting all these steps together gives you a comprehensive view of how to calculate your balance from STEEM to USD and then adjust for fees.
def calculate_balance():
steem_balance = 1000 # Assume balance in STEEM for demonstration
exchange_rate = 0.45 # Exchange rate (STEEM to USD)
usd_balance = steem_balance * exchange_rate
print(f"Initial STEEM balance of ${steem_balance} is worth: ${usd_balance:.2f}")
fee_amount = 5 # Fee for demonstration
adjusted_usd_balance = usd_balance - fee_amount
print(f"After deducting a ${fee_amount} fee, your balance in USD is: ${adjusted_usd_balance:.2f}")
rounded_usd_balance = round(adjusted_usd_balance)
print(f"Rounded off for better display, your final balance is: ${rounded_usd_balance}")
calculate_balance()
When you run this code with a balance of 1000 STEEM and an exchange rate of $0.45 per STEEM, it will simulate calculating the equivalent in USD, deducting a fee of $5, and then rounding off the result for better display.
Keep in mind that actual values may vary based on real-time market conditions and specific fees charged by platforms or services you're interacting with.