Steemit Internal MarketsteemCreated with Sketch.

in steemit •  7 years ago 

I have been using steemit for two months now but I never realised that Steemit had its own Internal Market. Today I was trying to promote my posts There is no Free money in Steemit as I felt that it deserved some more attention. So planned to purchase some SBD using bitshares. After sometime I realised that I had bought Steem instead of SBD and was little worried. But after some Googling I realised I could convert my Steem to SBD using the internal market at https://steemit.com/market

steemit-internal-market.png

The transaction was straight forward and very quick. I sold my 80 Steem and received 109 SBD in a matter of seconds. I wonder what is the underlying platform for this exchange. BTW I feel that Bitshares also should have similar interface. The black background of Bitshares looks a little sketchy to me and not sure why then went with that as default.

I personally feel that Steemit should move this link under profile so that more users can find it easily. Also over the time they should start allowing conversions between Steem, SBD, Bitshares. Over the time if they can add support for a few more popular altcoins and make it a DEX they would have so many users willing to use the platform already.

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Can you explain to me how it all works in detail