How to Exchange Steem Dollars for Steem Power
Today I noticed that I have a surplus of Steem Backed Dollars in my Steemit account. So I decided that I better exchange some of those SBD for Steem Power. In today's video I'll show you how this is done using the Steemit Exchange which is integrated into our platform. It's very simple but follow along with today's video if you're having any trouble.
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That's it! It's also a great idea to go ahead and follow my channel so that you don't miss any upcoming posts. You can do that here: https://steemit.com/@brandonfrye
"And it SHOULD work" lol priceless :)
Didnt know steem power gains higher curation.
Thanks for that :)
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Lol, let's click the button and find out what happens.... haha.
I try not to edit out those parts. :)
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keep NOT editing those parts !
Thats exactly whats making it more fun to watch :)
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Hi brandon 😀 another great video... they are really helping me out at the moment as I still am a little unsure of how this all works, I feel like such a newbie, I’ve never been part of a social media platform before but glad to start here! Keep the vids coming for us beginners thanks very much 👍🏻☺️
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That’s great to hear. I will definitely keep them coming!
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Do you think that SBD will go back down close to 1 USD?
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Great question, I personally don't think so. As more and more people join Steemit the SBD and Steem currencies will become more valuable. That is, unless something changes with the circulating supply.
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Oh so does SBD directly relate to the exchange value? Because it says its around $1 on the wallet page. (Tokens worth about $1.00 of STEEM, currently collecting 0% APR.) Sooo confusing.
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Yeah, that's not been the case for some time now. It was originally planned to act like the TETHER (USDT) currency which is directly tethered to the USD. Luckily for us that hasn't held true and now we're making a LOT more from our posts, upvotes, curation, etc. :)
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Well that's cool to know. :)
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Okay so even though it's pinned the US dollar it doesn't really matter. As long as steemit increases in value the cryptos will most likely increase as well.
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Yeah, I think that was the original idea but it hasn't really been pinned to the dollar for the last three months. Again, there could be a change to the blockchain (or circulating supply) to correct this but as it looks now I don't see it going back down. It appears to be increasing in value as more and more people use it. And I hope that trend continues. :)
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No actually blockchain is actually continually producing more steemdollars than ever to restore the usd pef. In fact the 50/50 is not true and more of 70/30
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I remember doing this months ago. :) But then I quit steemit, until now. haha
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Lol, welcome back!!
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To be fair I only came back because I saw the value go up. Glad I did though. I kinda like it here :)
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Lol nothing wrong with that
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It's a really nice tutorial.. Investing in steempower will really help in the future.
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Absolutely, I recommend that everyone invest in their own accounts to bring themselves more power and more rewards. Plus, it's good for the entire Steemit community. :)
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Thank you so much for this! Other than upvote bots, are there any benefits to keeping SBD in Steemit for an extended period of time? Or is it always more beneficial to exchange for Steem Power?
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Great question @prettydecent. There are some utilities for SBD here on Steemit such as Steembay (auctions), SteemVoter (voting service), etc. But if you don't find yourself using your SBD then it's really better to keep it in Steem Power as that will help your curation rewards and voting power. Hope that helps.
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Thank you so much!
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Another great video helping new users on the Steemit platform. I will say that I transfer my SBD to Steem Power in a slightly different way. I generally click on the Steem Power Dropdown and click "Buy" It essentially takes you to the same page to complete the same task. Many different ways to skin a cat I guess you can say. Thanks bud!
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Right, there's about 3 or 4 ways to get there. In the past I've done it the same way as you. I do like that they've added SteemConnect which makes it easier to transfer. In the past I had to go into my Steemit wallet and send a weird string of characters in the memo field.
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I agree the SteemConnect option makes me a bit more at ease when transferring steem around in my steem wallet.
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Thanks for this , as a new comer I was wondering how it was done !
Following you :) How do you acces the acces comment picker ?
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Hey @crypto4iso, glad to hear from you! You can reach the comment picker at http://pick.esteem.ws :)
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AHHHH Merciiii !
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GREAT video! I know how to do this now, but when I first started I had no clue. You may want to think about posting this again with some different tags, especially in the IntroduceMyself (for new members) and perhaps some of the other categories that get a lot of activity. I'm fairly confident this is something a lot of users have NO clue on how to do. Thanks!
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Thanks for the feedback @geoffreydemars, I appreciate it. And I don't like to use the IntroduceYourself category because I think it's best for the new users who are trying to gain awareness.. so I just leave that for them. I also like to search through that section to find new people and welcome them. But yeah, I'm sure a lot of people are wondering how to convert these currencies so I hope this helps. Thanks!
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Thanks for another timely video Brandon. I'm just to the point of transferring some. You have a habit of knowing what my questions are!
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Thanks @bigtom13, the Steemit intuition is real! :)
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@brandonfrye Thank you for the continuous support. You are helping a lot of people and I am happy that you are here. You're the best. Keep making Steemit a stronger community.
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Thanks @jr11, I appreciate you as well. Great contest and look forward to seeing which one of these lucky Steemians wins it! :)
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Hi brandonfrye....I'm still relatively new to the steemit platform....watching your video cleared quite a few cobwebs....thanks for that..i hope to put it into practice real soon....
N.B....can I ask some further questions from where I'm not so clear?
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Yes, absolutely. Feel free to ask anything and if I don't already have a video about it then I'll try to make one for you. Thanks!
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Its not good to have that may steem dollars...that exact amount (143)i think you said? Because of the market right now?
or just in general.
Iformative vid as always
Lynn
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Thanks Lynn, I agree. Best to move that over into Steem Power and understand that the market will always fluctuate. As always, appreciate your support! :)
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Great video @brandonfyre . Maybe it'll become useful for me some other day. I'm new to steemit but I did watch your videos on youtube before signing up. Just wanted to ask you, are there any benifits for me when resteeming other users article?
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Awesome, glad this was helpful for you! Welcome to Steemit and look forward to seeing you around the community. And yes, if you're curating other people's content you earn part of the reward pool for that post. So if you upvote a post then it's only in your interest to resteem it so that it gets more upvotes. Hope that helps!
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Hi @brandonfrye. I saw your vote for my most recent post and thought I would check out what is going on. Apparently a lot, your learning curve on here has been much quicker than mine. I praise that, you really have this figured very early on. I share the sentiments on steem/steem$, I see there being some slight spikes being possible from this point but not a real cratering of value that was present just before the time you and I began on the platform. I am glad I saw your vote, your content is killer, I look forward to following it from here on out! Thank you sir for the post! FOLLOW+UPVOTE
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Hey @cryptkeeper17, thanks and yes I've been busy digging into Steemit and all of it's awesomeness since I got started. The learning curve is something I've taken head on in an effort to learn all that I can. :) And the entire crypto market has been volatile over the last month, not just Steem. Just yesterday there was news that South Korea is raiding exchanges so that has caused a lot of FUD (Fear, Uncertainty, and Doubt) in the markets. But nothing to worry about. We saw this same thing exactly this time last year. I feel that the Steem currency will continue to rise in value as will most other crypto currencies. :)
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that what i was looking for wish you all the best bro and good luck
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Awesome, I'm glad that helped :)
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Hi Brandon, I recently discovered your blog through YouTube. Thanks for posting all these helpful tips. I’ve found a lot of written help through the Steemit site, but you’re helping to fill in the void of video tutorials and guides. Keep up the good work!
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Thanks so much for that awesome feedback, @nostone-unturned. That's what keeps me going! :)
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Nice work. Hanging on to Steem Power is great. But it is a pain trying to cash out to Fiat at the moment.
I see Bitwalla has had its Cards and Bank Transfers suspended. Any word on the best place to sell Cryptos for USD or even Euros.
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I use CoinBase but I haven't pulled any money from my Steem Power (or SBD). But I know you can move your SBD to ETH, BTC, DOGE, or LTC and have it deposited into any account you want. So if you're using CoinBase you can just have it deposited into your account there in either BTC, ETH, or LTC and then withdraw it from there.
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This post has received a 23.81 % upvote from
thanks to: @brandonfrye.
For more information, click here!!!!
Send minimum 0.100 SBD to bid for votes.
Before sending a transfer to @minnowhelper, verify that your publication meets these conditions (http://www.minnowhelper.com/conditions.php). After the transfer is made, no claims will be received.
The Minnowhelper team is still looking for investors (Minimum 10 SP), if you are interested in this, read the conditions of how to invest click here!!!
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thank you, my winerr
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This post has received a 33.90% upvote from @lovejuice thanks to @brandonfrye. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.
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You got a 0.83% upvote from @upme requested by: @brandonfrye.
Send at least 2.5 SBD to @upme with a post link in the memo field to receive upvote next round.
To support our activity, please vote for my master @suggeelson, as a STEEM Witness
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This post has received a 1.25 % upvote from @booster thanks to: @brandonfrye.
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Sneaky Ninja Attack! You have been defended with a 6.95% vote... I was summoned by @brandonfrye! I have done their bidding and now I will vanish...Whoosh
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Thank you @brandonfrye for making a transfer to me for an upvote of 5.03% on this post! Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem! The other half helps holders of Steem power earn about 60% APR on a delegation to me! For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily? To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
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You got a 6.20% upvote from @postpromoter courtesy of @brandonfrye! Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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This is what I was doing yesterday still great info for people that dont know.
I got a suggestion for a video haha what happens if you upvote after the payout is over?
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I actually had to look this one up. According to this post no rewards will be given to posts that have already received payout. But it can affect your voting power if you vote on a post that has already received payout. Great question and something I will probably spend some more time delving into later.
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Yes that what I was wondering if there is no payout. If it still affect you voting power?
And thanks for the reward I will switch it to steem power. I was happy to see some extra steem dollar in my account haha I saw it there before checking this post
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There is only you and your camera. The limitations in your photography are in yourself, for what we see is what we are.
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Just what I've been looking for, someway to converse all those excess steem
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