STEEMIT Newbie Guide: How NOT to Waste SBDs

I taught you about maximizing your rewards, now it is time to tell you how to minimize your losses.

Today I thought you would like to hear of three ways newbies just WASTE their SBD (Steem Backed Dollars a.k.a. Steem Blockchain Dollars).

There are three ways that are unfortunately very common, and so I need to make the newbies who follow me aware of them.

Some of them are simply things that may seem a good idea at the time, while some are outright scams.

If this is something of interest, then read below.

Don't Buy Resteem Services: Think About It!

The first thing I have to mention is what newbies know as "Resteem Services" and what most people know as "trash bin where you can throw your hard earned SBD at for some placebo effect to be felt in your belly". Cof-Cof

There are many resteem services throughout the blockchain, and many of them show you dozens of thousands of followers!

Well, think about it... why should you offer an inexpensive resteem - like 1SBD - for thousands upon thousands of followers if you could bank a ton more by publishing even just a cat picture with the words "gibe moni plis".

If it looks too good to be true, it is.

I know some newbies who spent their entire hard earned rewards on these things, and they came out frustrated and empty handed.

Of course, all of those followers are mainly inactive accounts, bots and dummy accounts - they won't interact with your artile.

Plus, even if they were real people, the flood of resteems is so intense you'd get sunk before you get any clicks.

Don't do it - or do it if you believe it, but let it be known @spiritualmax doesn't endorse that choice :D

Don't Buy STEEM at the Wrong Moment: When in ATHs!

This is a mistake that can be avoided at times, while at some others it just can't be helped.

Let's face it, none of us can predict the market 100% of the times or we'd all be rich.

On the other hand, there are times in which seeing that the number will wobble to lower values is easy to see.

When you go to the internal market, you see this:

These are the sell and buy orders for Steem and SBD.

If you buy STEEM you sell SBD, if you buy SBD you sell STEEM.

You can also see if there are way heavier amounts on one side or on the other. Plus you'll see prices and you get to set buy and sell orders.

Sometimes, it's better to let prices go down, which means avoiding buying Steem with FIAT when you see it's at an ATH (All Time High) or when the SBD to STEEM ratio isn't favorable.

Of course, sometimes the market is unpredictable, but some other times you can see if there will be a correction soon based on the numbers here - it takes a little bit of practice though.

Don't Buy Votes in Steemit.Chat: Identity Theft Warning

Finally, I want to warn you all for an ongoing scam going on in Steemit.chat.

@rok-sivante wrote a post about this scam which you can read here: Rok's Post

So, basically speaking, what happened was that a user was on Steemit.chat taking on the identity of @rok-sivante. His name on SteemitChat is Sivante while the scammer took the more known name Rok-Sivante.

The alert was given by @centauri-alfa:

Well, Rok has a great vote, so it's natural people are interested in it.

The next time someone offers to sell you a vote on Steemit.Chat, run away - it's a scam.

There are way more profitable ways to sell votes here, such as SmartSteem and services like those, so Rok wouldn't sell his vote for 1SBD, and neither would the other orcas, whales and dolphins.

As you see, there are a lot of creative people after your SBD.

If in doubt, don't act harshly and ask a friend or someone from Steemit you trust if you should do it or not.

Heck, I'm here, ask me!

Cheers!

Join the Crypto Empire Community