There's an easy thing you can do to maximize your returns on here while also helping support the price of STEEM...
I've seen a couple comments about this recently and wanted to make sure people weren't missing out...
If you haven't noticed by now, SBDs are trading well over a dollar and have been for several months now.
This is great for posting on steemit.com as users can earn significantly more money than the post value might indicate.
The key to locking in this value is to earn the SBD and then go to the internal market and sell that SBD for STEEM.
Currently you would get roughly $7 worth of STEEM for every SBD you sell.
(Source: https://steemworld.org/@nutbox.mine)
This is a great deal for steemians and a great way to help push the price of STEEM higher.
As long as the price of SBDs stays above a dollar you want to be selling them on the internal market for STEEM.
Make sure you never convert SBDs for STEEM when the price is over a dollar, it's best used when the price is under a dollar.
That is something we haven't seen for many months now though.
For now, sell those SBDs for STEEM and enjoy the bonus STEEM!
If they keep going up, buying them in speculation might be a good thing, no?
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It could work yes. For me personally I will never buy something that will eventually go back to a dollar, too much of a trading game for me.
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It looks like the last time it was $1 was back in November. Thats quite some time, what makes you think it's coming back down? It seems to follow the regular bull/bear markets.
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Yes that is correct, so it may not come back to a dollar for some time, but it eventually will. Not my type of investment, but I do admit it could make someone a lot of money. There's no reason it can't pump to $20 or more should the raging bull market return.
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It really does seem like a great idea for the time being with the price of SBD being as high as it is. Powering up will also help individual users who want to grow their steem income here too.
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YES! I just did this so I could power up my SBD. I was impressed when I sold the SBD and thought it was a mistake with how much STEEM I got for it.
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Yep, it's pretty nice isn't it!
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Indeed!!
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I understand this part
So you can get more STEEM for selling SBD
But I am confused about this? What price is over a dollar?
What if SBD and STEEM are both over a dollar?
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The convert feature only should be used when SBDs are trading less that a dollar.
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Nicely done and very glad went through this post.
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