I find myself at least once a week telling someone about how built into STEEM is an on blockchain market to buy and sell STEEM for SBD! I find it to be one of the most convenient features when you want to swap STEEM for SBD (or SBD for STEEM). I also find it amazing that so few people know it exists!
The best parts are:
- It is on blockchain!
- The funds never leave your wallet!
- There are ZERO fees for both market and limit orders!
- Everyone has access to it!
So where do I find this great market? Easy it is right here: https://steemit.com/market
Pro tip
The market uses the $ when it actually is SBD! I know it is confusing but if you think about it $ = SBD in the market. STEEM is priced in SBD:
Quote: $1.19 BID $1.21 ASK
What this really means is 1.19 SBD is the highest amount being offered right now to purchase 1 STEEM and 1.21 SBD is the lowest amount being offered right now to sell 1 STEEM.
This means as of writing 1 STEEM = ~1.20 SBD! This is not a fixed rate and is constantly changing based on the markets open orders!