Converting SBD to Steem on SteemItsteemCreated with Sketch.

in #steem7 years ago

Hi Steem community,

When I convert steem dollars to steem power through my wallet - I don't think i'm getting the appropriate amount of steem at the current market value.

The current market value of steem dollars is 1 SBD = ~7 steem therefore when I convert 0.5 SBD I should get 3.5 steem.

However, based on the transaction below, I got 0.449 steem from 0.647 SBD.

All I am truly asking is, Is steem ripping me off!

All responses (of value) are appreciated and will be upvoted 100% for your time and effort!

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The conversion mechanism gives you the target price, it's the reason that SBD has a $1 floor. You should sell on the market whenever the price is higher.

Thank you! Am I able to transfer SBD from my Steem account directly to bittex where I can convert it in the market?

This is happen when I convert our sbd and Steem is less sbd..

I would suggest buying your steem in the market if you want to get the best rate. I don't think you are getting ripped off, just buying at the default...

Hmm makes sense, would you recommend sending SBD from my Steemit account to bittex -> sell SBD for Steem -> Send back to steemit?