Toolkit posts are designed to help new Steemians get acquainted with the ins and outs of Steemit. If you have requests on components or systems related to Steemit that you would like to see explained, please let us know in the comments below. [The graphics and portions of text have been updated from our outdated conversion post.]
Converting Steem Dollars (SBD) to Steem Power (SP)
In this tutorial we’ll walk you the basics of how to convert your idle SBD into SP. This is a beginner’s guide that will go through the very basics of Steemit's internal exchange or "Market".
To begin, start at your Steemit homepage.
- Select your "Wallet" tab
- Under "STEEM DOLLARS" click the carrot to the left of your $ amount
- Select "Market" from the menu of options
- Type the "Total SBD" you would like to convert (illustrated below!)
- Click "Buy STEEM"!
Important note: Be patient! Sometimes a trade won't go through right away. This is especially true if it's a volatile day in the Market and the prices of Steem and SBD are changing quickly. (You can always cancel open trades if you need to.) Once your SBD's have been fully converted to Steem, the full converted amount will appear in your wallet under liquid “STEEM”
Now let's Power Up! So in this illustrated example; your 20 SBD has been fully converted to 20.888 Steem and you have 0 SBD remaining in your wallet. Now, you can "Power Up" your Steem by following steps, below:
- Under "STEEM" click the carrot to the left of your $ amount
- Select "Power Up" from the menu of options
Congratulations! You’ve just converted Steem Dollars to Steem Power!
Why Should I Power Up? (Pros and Cons)
Here are the key benefits of staking your Steem as Steem Power from the very obvious to the not so obvious -
- Your votes become stronger. Your upvote (and downvote) is directly proportional to the amount of Steem Power you have. The more SP, the stronger and more profitable your vote becomes.
It’s difficult to see the progressive growth of an upvote when you start out as a new Steemian, but that can change quickly as you begin earning through blogging and commenting. We recommend using tools such as steemnow.com to keep track of your vote weight and percentages as they mature over time.
You earn more curation rewards. You can earn Steem Power just by upvoting good content. Curators actually receive a portion of blog post rewards when a post pays out after 7 days. Blogging isn’t the only way to earn cryptocurrency on Steemit, curation is powerful too!
You earn interest on your Steem holdings. Just like with other Proof of Stake elements in cryptocurrencies such as NEO and PIVX, you earn a compounding interest rate on all Steem held as Steem Power. Holding SP essentially gains you passive income that you wouldn’t otherwise receive if you left your Steem liquid on an exchange or external wallet.
You can help create new accounts more efficiently. Every new account made on the Steem blockchain requires a bit of fuel to get going, either by purchasing new accounts with crypto or delegating new account a small amount of SP until they’ve powered up the requisite Steem. Delegating is an efficient and low-cost method for creating accounts and we use @jesta’s application Vessel to do so immediately with our amount of Steem Power.
You can delegate your Steem Power. Delegating SP is an incredibly powerful tool unique to the Steem blockchain. Delegation allows other users to ‘borrow’ any amount of your Steep Power. This is really useful for when you’re creating new accounts, starting a Steem-powered project, or just want to support Steemit initiatives you believe in by lending a portion of your own stake.
You become a trusted Steward of Steemit. This is one of the less explained and less apparent social benefits of powering up Steem in your account. The power and value of Steem goes up as more individuals stake their holdings and as such, there is a lot of street cred / kudos / community appreciation given to people who are committed holders of the coin. This doesn’t mean you shouldn’t power down or transfer our liquid currency when you need to, but staking a noticeable portion of your crypto as SP is a well-respected step on the Steemit platform.
These are the top reasons why we recommend powering-up Steem when you can. Accumulating Steem Power will open up a number of financial and social opportunities that can start to unfold the myriad of possibilities with Steemit and its supporting blockchain. Learn more about Powering Up, here.
Breakdown of SBD and STEEM & STEEM Power
For reference; here is a breakdown of the wallet definitions including descriptions of what each category means. Want to learn more about the Steemit Wallet? Click here!.
| Description | |
|---|---|
 | STEEM - is the central currency on Steemit.com. It’s a cryptocurrency or “token” very similar to Bitcoin. You can earn Steem by blogging, commenting and upvoting content on Steemit. This section of the wallet shows your “liquid” Steem meaning you can withdraw these tokens at any time. You can also move Steem to SP in a process called "Powering Up." |
 | STEEM Power - (or SP) is the same as Steem. SP though, indicates how much influence you wield in the Steemit community. The more SP you have, the more valuable your vote becomes. Unlike the liquid Steem in the first section, SP is locked in unless you click “Power Down.” |
 | Steem Dollars - (or SBD) is a secondary currency on Steemit.com. Value-wise, SBD are designed (algorithmically) to never dip below approx. $1.00 USD (though it can go much higher). You can earn SBD by blogging and commenting on Steemit.com. Just like Steem, this section of your wallet is liquid, meaning you can withdraw these tokens at any time or you can convert your SBD to Steem through using the "Market" tab. |
Exploring More @sndbox Steemit Toolkits
Thanks for reading! We hope you found this Steemit Wallet walkthrough useful. Take a look at our full outline of resource / tutorial posts here. If you have any questions please don’t hesitate to reach out in the comment section.
Check out the Steemit FAQ page to learn more!
I always power up my SBD to SP; and it's wonderful that you earn Steem simply by holding SP.
I love powering up
#pleasure
Lolz. Powering up does feel pretty good ;)
Awesome guide! Particularly like the images and visual component to it, well done! :)
Excellent! Thanks for your support @tspink :D
Thanks for the guide, I've been struggling to get my head around this concept for a while. The graphics help.
I didn't know about this before. I thought the market would take me to an exchange. 😂
Thank you for this info. Nice
No worries, it's all here :) pretty cool how there's an exchange built in!
Yeah it's really cool. I love the idea. It makes powering up pretty easy.
NEWCOMERS AND MINNOWS: THIS IS THE RIGHT WAY TO POWER UP
I try to be clear on this, because if you just buy steem pressing the big, nasty, sexy button at the top of your wallet page that says "BUY STEEM OR STEEM POWER" you will always get less steam and SP for the same SBD.
The right way to power up is the procedure described in this great post.
And believe me: Powering up is the greatest thing you can do when you are starting here. Once you have enough SP, then you can invest it and create an awesome compound interest strategy here on this same platform.
@sndbox you are a rockstars... Been trying to convert my SBD to SP. No wonder it didn't work out well and I lost my SBD. Thank you so much for this tutorial now I know at least how to power up my SP. Thank you thank you - kila 😘😘
YOU are a rockstar! Be safe out there powering up. Glad this tutorial could provide some clarity :D
Fantastic guide! Very easy to follow and a great resource! Thanks for the info
thanks @sndbox, this way i will do to add my steempower. although my sbd is still a little bit, but someday I'm sure my steempower will increase even though not as you have today. I will wait for your next posting of your useful for us beginners.
Thank you! Every bit counts and it adds up quickly @agusscout! :)
thanks again @sndbox. the help and knowledge you give will certainly be very useful for me as a beginner. @sndbox, in case any post can use @sndbox tags?
I am very glad reading this, I have tried getting such guide on how to power Up by changing my existing Sbd to steem then powering up. This is greatly educative and believe me @sndbox you have really helped me with this key information. You guys have educated me once again. Thank you for sharing the information and also thank you for touching lives. Every one on steemit really needs to see this post and read through it, it will surely go a long way to helping them power up.
I love the internal market in steemit, its really awesome for converting between sbd and steem!
Helpful to newbies indeed..i just powered up 101Steem yesterday
I am very new to steemit,i always wanted to know the answer of this question.I have got the answer now.No one described it like you before.You made it very easy for all.Thanks a lot for the post.
That's a very useful information.The way you described it now it's crystal clear to me.All the people will be benefited by this post.Thank's for sharingg such useful post.
I had no idea about this in details,i just knew it can be done but how can i do it i had no clue.Now i think it's very clear to the new steemians.Most of the new steemians have no idea about this process,but who are following your post it will be a easy thing for him.Thank you for the post.
indeed very very unusual motivation
when i can @sndbox want to be able to share with others
I was like searching "Cons" as topic mention "pros and cons of power up.. Dont mind just mention😉
@sndbox i have any question... How to publish youtube video in steemit ? Thanks for this info
Sangat berguna bisa jadi panduan bagi saya
Thank for the Guide. Sndbox was a great Community. Goodluck :)
Thanks for steem Convert info :)
valuable post. Really i appreciate you.
Best informations...
This is an important article it worth resteem and upvote.
Good job,,, thanks for sharing this,,,
thanks for you. success keep up the good work
Love your guide for newbies
Thanks for sharing! Very useful for beginners, and those who do not know html. I naturally gravitate towards styling through html as I use it a lot in some of my other work.
You have some really useful tips and have helped me build my content a lot, thank you @sndbox!
Thanks your content make me clear for some question. Cheers
I needed this. So much about how this works is not self-explanatory. It really helps to see it explicitly laid out.
I have been looking for something like this post because I was having trouble figuring out the differences in the currencies here. I am grateful to you for this information! I need to rethink the way that I have my assets split up on this platform, I think. Kudos for sharing your knowledge!
Ivy
Ok, the power to vote! and the power of publications?
Regards, nice post.
I like powering up and and a good guiding nice post
I like powering up and and a good guiding nice post
I was searching for a few things. Thanks , This blog will help.
@sndbox many applause and appreciation to you for sharing your knowledge with the newbie in this community, more success to your effort Thanks.
thanks you dear you post was very helpful for me and I will try two or more from what you just mention
thanks for the step, I as a beginner need a theory like this, and need support from steemean friends all, one of them you sir, let me resteem your post
@sendbox
This is one of the best tutorials and guides to Newbies and steemians in general. Its a refreshment to our journey on steemit.
Great info. Very well presented. Thank you. Even I can understand!
Fantastic post ,your information is so great and i like your post.
Wow Fantastic guide! Very easy to follow and a great resource! Thanks for the info @sndbox
Yeah thanks you dear.. you post was very helpful for me. and I will try two or more from what you just mention
thanks for sharing sir ..
Just made my first steem buy thanks to your awesome guide. I watch the transaction happen and account value went up. Thanks again @sndbox
Amazing. Now on my way to power up. Thank you for this detailed explanation.
Yes, as a plankton I need more SP. I set 100% for SP on my post lately.
Very good information.....
Thanks for guided...
I just understand this after reading your post @sndbox, this really be a science for me thank you for writing it well and I will power up my steem.