Newbie question, how do I convert Steem Dollars into Steem Power?
Hey all!
A few questions,
- How do I convert Steem Dollars into Steem Power?
- Do I want to?
- It seems like Steem Power is the way to go.
I've heard things like it gradually makes you more SBD over time but it takes a matter of years, but is that based on your investment into Steem Power having a higher return? Or is that meaning that if you interact a lot your stuff is just worth more, so you will likely make more?
- What is the benefit of not converting to Steem Powers?
This is my current wallet:
You can buy do this on the internal market. SP will benefit you more than SBD in the long term so I say go for it!
thanks a lot
Hey @brendanmcpherson - Hey there...like you, I am new to this as well so I'll give you dummy down version of what to do here...and hopefully a few old timers (whales) come and chime in if I've missed anything.
Steps:
Go to your wallet
Click on the little arrow pointing down next to SBD (steem dollars)
Click on Market
You're going to want to use the fields on the left hand side under 'buy' to purchase your Steem
In Steem field, enter the amount that you want to buy (which will be at the rate of the field above)
You will then see what the cost will be for you to buy that amount of Steem calculated into SBD (make sure you have enough Steem Dollars)
Click Buy Steem
One your order has been placed, scroll down to open orders and see if your order is there, if it's not, you either sold the SBD OR forgot to hit Buy Steem
Assuming the SBD sold, you will then click back into your wallet
You'll now see values in the Steem column
Click the arrow to the right of that value
Select power up
Enter the amount of steem you want to convert to Steem power
then click power up
If you do all of this...you'll be winning.
Good luck...hopefully this was helpful, sir.
-JackThaR1ppir
very helpful. Thanks, all done
holllllllllllllller....welcome to the steem family!
Welcome to steemit.
I hope you are enjoying this great platform.I have followed you.Please follow me @magneticvibes