Question: Steem Dollars to Steem {Conversion}. 1 Week Hold Period.
Hello,
Would someone kindly explain how this works. I had 59.82 Steem Dollars and I wanted to convert them to Steem. I did the transfer and it said it will take 1 week to complete. I noticed that immediately my account value dropped substantially.
Does it work like this:
Steem Dollars are converted to Steem with a 1 week holding period and then I have the possibility to add my new Steem via POWERUP option to add to my Steem Power?
Is this last statement/question correct? Thank you for your help in advance. I'm close to 40 and struggling here a bit on the workflow of the entire system.
Sincerely,
TJ
There are a couple of ways you can get around waiting a week. Basically if you click on "Buy or Sell" instead of "Convert to Steem" you can sell your steem dollars on the internal market for Steem and then you could take and power that up right away. I hope this make sense. I just upvoted you! I just posted steemit's first pool meeting where I talk about my initial thoughts about it. Check it out! https://steemit.com/steem/@brianphobos/first-pool-meeting-on-steemit-initial-thoughts-and-advice-from-someone-who-has-made-money-online-since-2008
I'm pretty sure that's normal
when you click on SDB or steem dollars , don't use convert to steem it take a week , just click on Buy or Sell and buy your steem immediately