Introduction to Steemit's built-in Internal Market

This post is going to be about the unique Internal Market build on top of STEEM and intergrated in Steemit's platform, establishing a Modern Marketplace for Steemians to sell and buy STEEM & STEEM Dollar

Steemit has a built-in Internal Market, where Steemians can exchange their STEEM & STEEM Dollar with little to No Restriction! You had no idea? Well it's not actually hiding from plain sight, all you have to do is go to your STEEM account Wallet and click on either STEEM or STEEM Dollar drop down menu and you'll notice that there is a option of ''Buy or Sell''

One of the main Restriction of this Internal Market is that you have got to have a Steemit Account to be granted access to it, well.... the fact that you'll most likely reading this means you obviously already have a Steemit Account! With Zero Fees and Lighting Fast Transacation Speed you can trade at ease, you can send and receive the 3 financial assets available on Steemit with No Restriction

Virtual tokens are send among Steemit Accounts, think of it as your personal wallet and username is your ID! If you haven't conducted a transacation yet, you'll notice that if you want to send STEEM, STEEM Dollar or STEEM Power you will need an account name! Mine would be @steemitguide

Once you know someone's account name, you are free to send STEEM, STEEM Power and STEEM Dollar to that account without there being any fees or restriction! Since you need to be logged on to your Steemit to conduct a trade on the Internal Market it is safe to assume that there is little chance of a security breach and you should only worry when comes to conducting a transaction

If your suppose to sent or receive STEEM and the transaction has not completed after couple of seconds, you may have accidently made an error with the account name! Because a Transacation should be completed almost instantly, so you just need to keep an eye on the account wallet as it should sync and update within seconds

• Let's you buy or sell STEEM & STEEM Dollar through the built-in Marketplace, this means you'll be exchanging either STEEM to STEEM Dollar or vice versa and the trade is done between two Steemians!

• Steem’s Internal Market gives these speculators a safe place to buy and sell, while keeping the full value of their capital inside Steem where it also earns interest and supports the value of STEEM

• Instantly convert STEEM Dollar to STEEM, you could convert STEEM Dollar within 3.5 days to STEEM however you can simply go to the marketplace and fill out an order, if anyone is happy with your given price they will initiate a trade with you! This allows you to nearly instantly sell STEEM Dollar for STEEM

Traders make more by trading on the internal exchange and therefore there is the greatest market depth.
With more users joining Steemit you can expect there to be a lot of Market Liquidity, since there will be plenty of buyers and sellers in one marketplace

The internal exchange is secured by your account private key. This means you do not need to trust any third parties with your money. Your security is a personal responsiblity, with a secure password and by staying safe online there is no need to worry over theft or fraud

The STEEM blockchain doesn’t charge trading fees, but it will rate limit your account if you start consuming too much bandwidth. If you hit the bandwidth wall, you can always Power Up to get more access. You can send or receive money from anyone withouth it costing you since there is no middle man involved between 2 parties! Keep in mind that nearly all exchanges charge % based fee's which accummulate based on the amount you send! Western Union, Visa and other popular Financial Services like Paypal also charge you a relatively hefty fee

The spread found on the Internal Market can be lower because some of the risk is absorbed by the network. You can always convert your STEEM Dollar to STEEM within a 3.5 Days Time period to get most of out of your conversion or almost instantly exchange your tokens through a peer-to-peer transaction

Here are some other Guides you might find Interesting

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How to Construct a 2 or 3 Column Table using Steemit's Raw Markdown Editor! Tutorial and Codes for Beginners

HowTo Make Use of a Steemit Feature that allow's you to display content floating left & right and learn how to paragraph

Align Text, Images, Videos & GIF's to the Center of Post using Markdown Raw Editor

How to insert 2 Columns and edit Text Style with equivalent HTML tags using Steemit's Raw Markdown Editor

Doesn't this go well with the SteemVerify Logo? Anyways, if you spot an error in any of my Guides please feel free to correct me and also if there is anything you would like to see a Guide on, let me know! Dedicated young Steemian interested in getting Vested. Will write another Guides & Tutorials about Steemit, Follow me for more!