How to buy a Steem Dollar for less than a Dollar
steem·@wingz·
0.000 HBDHow to buy a Steem Dollar for less than a Dollar
<html> <p><img src="https://s31.postimg.org/pg36k5efv/2974632309.jpg" width="742" height="800"/></p> <p>If you want to convert your Steem Dollars into Steem NOW and then sell them on an external exchange then you'll have to pay a steep premium.</p> <p>However, if you're of the belief like I am that Steem Dollars will be relatively safe for a while you can pick up that premium for yourself, and simultaneously be supporting Steem.</p> <p><br></p> <p><strong>here's how..</strong></p> <p>We have the internal market which is trading higher for steam and the external market which is trading lower.</p> <p>The strategy would be to buy Steem on the external market with BTC, transfer it over and then sell the Steem on the internal market for Steem Dollars. </p> <h3>The internal market STEEM/SBD</h3> <p><img src="https://s32.postimg.org/by1ix5yo5/2_Untitled_picture.png" width="754" height="549"/></p> <h3>The external market - STEEM/BTC</h3> <p><img src="https://s32.postimg.org/f84o7edmd/1_Untitled_picture.png" width="573" height="478"/></p> <p>Please take note the the price in the internal market is in Dollars, not Bitcoin. We are looking at a price on the bids of $0.387 in the internal market to $0.2389 in the external.</p> <p><br></p> <h3>Buy a Steem Dollar for less than a Dollar?</h3> <p>Lets say you have $100 of bitcoin, you go into the external market and buy Steem, you would get 100/0.2389= 418.5 Steem.</p> <p>You would then transfer over that Steem to your wallet on Steemit to sell into Steem Dollars - looking at the best bid above that would net you 418.5*0.387= $161.9 worth of steem dollars.</p> <p><strong>Why is this, whats going on?</strong></p> <p>Some people just can't wait to cash out, they want to get out as soon as possible so are willing to pay a higher price - currently the internal market is the only way to do this. The people who are willing to buy it off of them are providing them with that liquidity as a service and being paid for it. However with this being the first payout, the opportunities are huge.</p> <p>Give it a go if you have some spare crypto lying around. Free cash anyone?</p> <p><strong>EDIT:</strong></p> <p>I gave it a go, transferring over 0.05 BTC to bittrex</p> <p>I managed to buy 141 Steem on bittrex for around 0.000352BTC</p> <p>I then sold on the internal market, netting myself $50 steam dollars from bitcoin worth $33.7</p> <p>It took around 6-7 minutes.</p> </html>
👍 wingz, yan-kovalenko, kaylinart, primus, anonimau5, wang, berniesanders, complexring, tinfoilfedora, gugnik, ash, vato, benjojo, donkeypong, tombstone, alenevaa, business, samupaha, roadscape, dedriss, will-zewe, clement, dan, alex-hulsmeier, proctologic, james-mac, ajvest, greatguardian100, dimox, java1959, alexc, powerwizard, teamsteem, justtryme90, pixellated, kushed, bryner, aminahdece, ultralord, fuzzyvest, dragonslayer109, trevonjb, tcfxyz, eeks, lindee-hamner, michaelleppert, bjones, thhiggi, creemej, jonnyrevolution, lukestokes, arjoona, hobbitjerry, manu, jens84, dimitarj, raff-delfin, acidyo, photowebgear, prophetmohammad, nrajesh, soundreasoning, thumbsup28, positivitysteem, cocorobert, chann, hrabiaeryk, istevini,