Exchange SBD for Steem (or Steem Power) with ZERO FEES!!
You ever have one of those moments when you realize that you've been doing something wrong all along? Well.. I had that moment yesterday when I came across @tcpolymath's article on how to exchange Steem for SBD (and vice versa) using the Internal Market, while avoiding the fees associated with BlockTrades. I can't tell you how much money I've wasted (or invested into BlockTrades?) since I got started here on Steemit. But that all changes starting today!
See today's video where I walk you through how to use the Internal Market to exchange between SBD and Steem, and how to power up that Steem without spending ANY money on fees.
Links Mentioned in Today's Video:
- Article by @tcpolymath about using Steemit's Internal Market
- Ned Elaborating on SMTs, Oracles, and Account-Based Voting
- Checkout the MinnowFund Initiative!
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I wish there was a way to buy SBDs directly without having to first buy BTC or some other cryptocurrency. Investing is not my thing, but I do appreciate the chance to avoid fees when buying Steem.
You're today's comment winner!! 😎🥂
Each day I pick a random comment on my post to upvote and today was your lucky day 🙌🏻
Thank you so much. I've been posting, commenting and voting on Steemit for seven months, but my votes are still only worth $0.01 each. I'll plow this upvote back (Steem or Steempower: not sure which would be more helpful).
It seems like you should be a witness.
Maybe one of these days. I've tossed the idea around a couple of times. I appreciate you thinking I would be a good witness. :)
You got a 21.58% upvote from @ubot courtesy of @mysearchisover!
Good info . Every one should know about this as it saves money
Thanks for the vote and comments @jkenny. I agree, more people should be aware of this. Especially those just getting started on Steemit and have a light budget for investing in Steem.
very informative i am already using internal market
Awesome! Glad to hear that others are using it. :)
This comment has received a 0.36 % upvote from @speedvoter thanks to: @everything-4you.
very important and helpfull post, thanks for shaire..
You're welcome, I hope this helped! :)
Ohh, me too. I wasn't aware of the internal market before, and I kept on trading blocktrades. But it has its perks since the exchange is instant.f
In the internal market, sometimes we have to wait depending on the price we are willing to buy/sell.
Lol, I'm just glad I wasn't alone on this! Yeah there's a trade off of time/money. I guess if I'm in a really big hurry I might still use BlockTrades. But for the most part I'll be using the internal market. :)
Same here! Sometimes I even set price very low so that once STEEM lowers down the trade automatically executes and I can take advantage of the dip.
LOL Yeah man, you are not alone...Guilty as charged!
Now we know though right....Saving some moolah and getting more STEEM in the process! Win win!
I'm glad to hear that!! LOL
Yeah, and knowing is half the battle as they say. I can't believe I was wasting all that money.. but hey.. I guess we were supporting BlockTrades. 🤣
Ha ha ha they are living the dream...Grand Cayman corporation. Account worth like 15 trillion STEEM LOLOL
Glad I could help them out :)
Right!? lol
Question for you.. do I need to invest to make returns on curation? It seems like its better for sure if I "am" invested but is it required?
Great question. And yes, in order to earn curation rewards you must hold Steem Power. The more SP that you have the higher of the rewards you will get from the curation rewards. Hope that makes sense.
When i first started it says (15.00) what does this number mean? Does this mean I have 15.00 steem power starting out? what do the brackets mean?
Yes, Steemit Inc. delegates roughly 15 SP to get you started. Because you have to have bandwidth in order to post, comment, etc. Once you've earned that much they will begin taking back their delegation. The amount in the brackets is the amount they've delegated to you.
Thank you so much!
Uh huh. I just discovered this a little while ago myself. Great post and it will definitely help clueless newbies (like I still am) the future.
Haha, well at least you weren't alone. I'm glad to find out that I wasn't the only one wasting money on these fees. :)
@brandonfrye thanks for sharing such awesome information . i just sell my 1 SBD to 0.806 Steem . which kind of cool . :) i just power it up :)
Can you please make the video of the https://thesteemitshop.com/ . how to buy from it using SBD from our Steem account.
I think it would be awesome if they added Steem or SBD as a accepted currency on the steemitshop but unfortunately that isn't currently available. I believe they use Apple Pay if I'm not mistaken. Perhaps they'll add that later on. It would of course have to fluctuate with the value of Steem and SBD but I think it could be done for sure.
You got a 55.65% upvote from @brandonfrye courtesy of @brandonfryeroi!
Want to promote your posts too? Send a minimum of .10 SBD or Steem to @brandonfrye with link in the memo for an upvote on your post. You can also delegate to our service for daily passive earnings which helps to support the @minnowfund initiative. Learn more here
It is great that the blockchain and platform charges no fees for these transactions. I wonder if SMT swaps will also be free.
That's a great question. I would imagine it would be free due to them all being connected on the Steem blockchain. But I guess we'll wait and see.
Thank you for informing the community. I've noticed it few months ago, so I made a tool to compare the situation. You can check that out at https://wttsteem.herokuapp.com/.
Wow, that's really cool! Thanks for sharing. :)
My mouth is hanging open ... I have been doing it that way too. Thank you, Brandon, very much for opening our eyes to this.
On the other topic ...
I think they should consider a featured page and a boosted page/columns instead. Featured would be curated and boosted would have been those that have been boosted by bots.
Lol... hey at least you weren’t alone. I was shocked to find out myself. Like what have I been doing!? 😂
I was so naive:):):)
I actually started using powering by using the internal market. Haven't heard of blocktrades until I wanted to figure out how to turn my steem into BTC.
Good to know. Thanks for all of your helpful advice. Today is my first day on steemit and your the person that introduced me to steemit. This is actually my first comment. Excited to get going! Keep up the great work.
As a fan of the band...gotta say i dig the username
Nice! Best band in the land! I'm happy festival season is upon us again. Tired of seeing them indoors. Just not the same.
thank you for sharing this information with u, i am one of those people who are still learning about steemit
here is my question for the weekly webcast. I would like to post some short videos taken with my underwater camera/ Go Pro, and have some original music in the background. Do I have to post the video on D tube first and then bring it over to Steemit?
Once you post on Dtube it automatically posts on your Steemit blog as well.
Ok. Thanks for the help
No doubt! Welcome to Steemit!
Thanks for this @brandonfrye! This was extremely helpful, and like you, I cant believe i didnt put 2&2 together on this. Dahwell knowing is half the battle, thanks again!
Thanks for this! i dont feel so alone now lol I felt stupid for selecting 100 percent steem power payout. I didn't realize you lose half your money that way..
Thank you for ghis info
Thank you for sharing this... it is a great money saver!