Recently, I have been asked a lot on how to sell/convert SBD to STEEM to powerup it into STEEM POWER. There used to be a 'convert to STEEM' button under the Steem Dollars(SBD) but it has since been taken off due to the high spike in SBD value.
I've decided to create this very simple step-by-step guide which u can follow easily to sell your SBD for STEEM.
But why would I want to sell my SBD for STEEM??
In my opinion, the price of where STEEM is at is very low now. When you have STEEM, you can POWERUP STEEM into STEEMPOWER which increases your upvote value,weight and influence in the Steem blockchain. Steemit is a longterm investment that needs only your effort and time to churn our quality posts. In the long run, having high Steem Power will be beneficial to you and the community around you. That being said, I won't lie that it is very tempting to cash out SBDs now seeing the rates are high. But I would rather power my STEEM up.
The Simplest Guide To Sell SBD for STEEM
Click the 'wallet'.
Click the Steem Dollars(SBD) little drop down arrow.
Click 'Sell'
Blocktrades site will popup in a new window tab. Do not close your Steemit site.
Make sure it is in 'Steem Dollars'
Click the drop down menu to select the coins you want to sell to.
Scroll down and select 'Steem'
Type in the amount of SBD you want to sell. You will automatically see the amount you will be getting under STEEM
Type in your Steemit ID without the '@'. Wait for it to says 'address is valid'.
This part is OPTIONAL. You can leave it blank if you do not want to have a memo sent to you.
Click 'Get Deposit Address'
Copy the memo generated for you and remember the account name you have to send to which is 'blocktrades'.
Now, return to your Steemit site 'wallet' and click 'transfer' under the drop-down menu of Steem Dollars.
Fill in the details:
To : blocktrades
Amount : 15.000 SBD
Memo : 'paste the generated memo you got from blocktrades site'
Click submit
The transaction will usually take around 2-10 seconds. Refresh your wallet, and you will see your transaction under 'History'.
I hope you find this simple tutorial useful to you. I wish all of you a blessed journey on Steemit! All the best and good luck. :)
Thank You
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