How To Convert Between SBD and STEEM 💱

scottcbusiness (72) in steem • 7 years ago (edited)

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Hey everyone so a little bit ago a friend of mine asked how to convert between STEEM and SBD. It's not very obvious or explained to new users so to make your life easy you can check out this article here: https://steemit.com/toolkit/@sndbox/how-to-convert-sbd-to-steem-power-a-visual-guide-to-powering-up

Or if you like to read my articles I will do my own version of how to convert between SBD and STEEM. Now the main reason people usually want to do this is so they can take their SBD and use it to power up. There are other reasons I'm sure, but this is likely why you are here reading this. It's slightly tedious, but fairly easy and simple to do.

Quick Overview of STEEM, SP, and SBD

STEEM

STEEM is the base cryptocurrency that is used on this platform and the blockchain it was built upon. STEEM is the cryptocoin that is used to back the other two Steemit related coins SBD and SP. This is the only coin listed on exchanges and it separate from Steemit altogether. It is referred to as liquid STEEM because it's the base currency. It is a social media token meaning it will inflate and regulate as a means of accounting and can be used to acquire the other two coins below. This can be bought or earned by using Steemit.

SBD

SBD is pegged to the dollar. The attempt is that it is less volatile than liquid STEEM and it used for the majority of transactions on Steemit. The main flaw is that it cannot be directly used to power up your SP (hence this article). This can be earned by creating content and using Steemit. You can also put your SBD in your savings for a 10% annual interest with a 3 day withdrawal period. It can also act as a security measure to prevent instant withdrawal of all your funds.

STEEM Power

This is the long term invested STEEM you have. This influences your voting power, bandwidth allocation, your status as a plankton, minnow, etc., as well as it takes the longest to withdraw and earns the most interest. You can only withdraw a faction of your power at a time per week in the process of "powering down" to lock people in for long term investments. One very interesting thing about SP is that it compounds DAILY interest at 0.0066% making STEEM a very attractive cryptocurrency because it's one of few that can earn interest.

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How To Convert Between Using @Blocktrades

Start by navigating to https://blocktrades.us/

Then select SBD or STEEM and the vice versa you wish to convert to

Add your username and your account will pop up

You then hit and you'll see this below where you can either pay using SteemConnect or do a manual transfer

Then finalize the payment and your coins will appear in your wallet converted and ready to go!

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If this helped you please share it with others! If you know an easier way, please share it with everyone! Also feel free to comment in general :)

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As per my suggestion to share any other methods you know @leeart was kind enough to share this by @pinay
https://steemit.com/steem/@pinay/buying-steem-and-powering-up

It is slightly easier, but has more complex parameters like limit order and asking price. This should be easy for those familiar with buying cryptocurrency, but strange and foreign to those not and who are just on Steemit for Steemit.

Every time I post I select 1 random winner from the upvotes, resteems, and comments totaling 3 winners and give them 0.01 SBD each and announce it on the next post! I also send out 0.001 weekly to followers! I use https://snackaholic.github.io/steemfortune/en/
The winners from the last post I made here: https://steemit.com/free/@scottcbusiness/supporting-my-followers-with-free-sbd

Congratulations to @nandagayo @wavyplague and @savage2288 for today's winnings!

Note that once I’ve posted a new post the contest is over and this could be subject to any amount of time up to but not longer than 7 days

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http://steepshot.io/

Shoutout to the main @Steepshot team
@pmartynov, @vitality, and @korzunav
Their team has been steadily growing since the founders began, be sure to give them a follow!

Use #Steeply on Steepshot posts for a chance to be featured in my Steepshot digest called @Steeply

📷 Also join their awesome Facebook group where we are building a community around the platform! - https://www.facebook.com/groups/steepshot/
They also have a great Discord - https://discordapp.com/invite/9QsYr9f 📣

🌎 Social Media
Steepshot Twitter: https://twitter.com/steepshot
Steepshot Facebook: https://www.facebook.com/steepshot

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@DTube is an amazing platform meant as a decentralized solution to YouTube's copyright, censorship and monetization issues. We are building a community around the platform!

🌎 Social Media
DTube Twitter: https://twitter.com/dtube_official
DTube Instagram: https://www.instagram/dtube_official
Discord Group: https://discordapp.com/invite/9QsYr9f 📣
Official Site: https://about.d.tube/
Reddit: https://www.reddit.com/r/dtube/

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@ScottCBusiness

📊 Binance is my favorite place to trade, sign up with my referral - https://www.binance.com/?ref=15520033
💸 If you haven’t signed up, do so using my referral code 15520033 and show me a screenshot, I’ll send you 0.25 SBD and give you a follow and shoutout on my next post!

✅ Join our @Steemersbot communities to network and grow together with our other Steemers - https://www.facebook.com/groups/Steemers/
Our pinned post has a bunch of resource for you to use and contribute to!
Also join our Discord channel - https://discord.gg/hNMjvBz 📣
We have lists of other servers, upvote bots, promo, discussion, contests, faucets, and everything you can think of!
W can also chat on Telegram - https://t.me/steemers 📩
We share our promotional posts here for now mostly

steem steemit sbd steempower cryptocurrency

7 years ago by scottcbusiness (72)

$3.35

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[-]

kabir88 (60) · 7 years ago

Thanks for the gift, enjoy the holidays

$0.09

2 votes

[-]

scottcbusiness (72) · 7 years ago

You too!

$0.00

[-]

estream.studios (67) · 7 years ago

You got a 50.04% upvote and resteem from @estream.studios courtesy of @scottcbusiness. Thank you for using the @estream.studios UPVOTE and RESTEEM bot.

If you are looking to earn a passive no hassle return on your Steem Power, delegate your SP to @estream.studios by clicking on one of the ready to delegate links:
50SP | 100SP | 250SP | 500SP | 1000SP | 5000SP | Custom Amount

You will earn 80% of the voting bot's earnings based on your delegated SP's prorated share of the bot's SP pool at the end of EACH voting round! That is up to 38.5% APR! You can also undelegate at anytime.

$0.05

3 votes

[-]

yati (51) · 7 years ago

Sorry @ScottCBusiness,I want to ask you that 2 days ago I received transfer 0.001 from you,I am very excited,but what I have to do next,It's enter automatically or I have to convert it before,thanks.

$0.00

3 votes

[-]

scottcbusiness (72) · 7 years ago

You don't need to convert it but if you wanted it to power up you convert it to steem using my tutorial here. My previous post explains why and how I'm sending 0.001 sbd. It's for following me I send it out weekly

$0.00

How To Convert Between SBD and STEEM 💱

Quick Overview of STEEM, SP, and SBD

STEEM

SBD

STEEM Power

How To Convert Between Using @Blocktrades

Start by navigating to https://blocktrades.us/

Then select SBD or STEEM and the vice versa you wish to convert to

Add your username and your account will pop up

You then hit and you'll see this below where you can either pay using SteemConnect or do a manual transfer

Then finalize the payment and your coins will appear in your wallet converted and ready to go!

@ScottCBusiness

You just planted 0.78 tree(s)!