Are you converting your SBD?

themarkymark(81)

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2018-11-19 20:34

UPDATE: Do not use the conversion function anymore as we are now under the Haircut Rule

It is a perfect time to convert SBD to Steem.

Lowest ask: 0.520339

Not only do you get to take advantage of the 2:1 trade, you also benefit a few percentage points as SBD isn't quite $1.

While posting with 100% Steem Payout will produce similar results, I prefer to use 50/50 and converting.

Converting is not the same as selling on the internal market

Using the internal market to trade SBD for Steem is just that, a trade. The SBD just changes hands and is still in circulation. By using the sbd conversion functionality on the blockchain you will remove the SBD from circulation and reduce our debt ratio.

The SBD conversion will give you $1 worth of Steem for every SBD you convert, right now SBD is $0.92, so you are not only receiving a great conversion due to the low price of Steem you are also getting an 8% bonus.

The conversion feature takes 3.5 days and will use the market average to determine how much Steem you get. If you need help converting, I cover an easy way to do it in this post as it is no longer available on the website.

If you are converting, you will notice the conversion will disappear from your wallet at times, this doesn't mean you lost anything, it is just a UI problem. You will receive a notification in 3.5 days when the conversion has completed like this:

Fill convert request: 3.231 SBD for 5.504 STEEM

If you need help doing this, feel free to post a comment with any questions. This is not investment advice and merely my opinion. Your results may vary and the sky is blue.