How to convert SBD to STEEM using the blockchain (not internal market). Easy tool by user @mwfiae.

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One of the opportunities I look out for on the blockchain is to convert SBD to STEEM at the perfect moment.

With converting I don't mean the internal market that looks like this:

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But the actual convert function that is build into the blockchain.

In general you only want to do this when SBD is below a dollar.

Access to this function is currently turned off on steemit.com because too many people made mistakes and lost a lot of money when SBD was high.

Example: Let's say SBD is worth $3 and you convert this to $1 worth of STEEM you basically lose $2.

But it's still possible to do it with a tool made by user @mwfiae:

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Original Post

Website

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This function will turn an SBD into $1 worth of STEEM over 3,5 days.

I tested it 3,5 days ago on a test account and it worked fine but make sure you know what you are doing before attempting this.

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Now why would you want to convert instead of using the internal market?

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When the price of SBD stays under a $1 for a while you simply get a better deal.

Example: Let's say SBD is worth $0,95 and you convert this to $1 worth of STEEM you basically earn an extra $0,05 of STEEM compared to the internal markets

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