Hello Steemians,
In this post I'll share how to buy more STEEM and SBD with the same amount of Bitcoin (you can buy with ETH too, but in the example I'll use Bitcoin) ;) This post is going to be Long but if you have no time to read through, here is the summary:
IN SHORT
** Buy STEEM first with Bitcoin and then buy SBD with that STEEM. Don't directly buy SBD with Bitcoin as you'll get Less SBD that way.
If you Buy STEEM on BlockTrades.us with Bitcoin rather that on Binance you are likely to get more STEEM. So, do that.
Now, after you receive your STEEM in your steemit wallet (it usually arrives within 2-3 minutes) go to Steemit Market and buy SBD with your STEEM from there and see how much more SBD you just earned ;)
** With 0.001 Bitcoin I earned around 0.40 SBD extra following this method :)
IN DETAILS
I trade crypto on Binance and I am a big fan of it. It's easy to understand, fast and has good liquidity. However, I've noticed that it's not the best place to buy STEEM. I will recommend BlockTrades.us for that for few cool reasons: 1. You can buy STEEM from here at a lowest rate, and 2. When you send Bitcoin to them, even though Bitcoin usually take nearly an hour for a transaction to complete, it gets transferred to them within 2 minutes which is the fastest. BlockTrades.us is extremely reliable and trustworthy. In your steemit wallet when you click the drop-down menu beside STEEM you see a 'Buy' or 'Sell' link and if you click that link it will take you to BlockTrades.
Okay, so go to BlockTrades and buy STEEM with Bitcoin, but don't directly buy SBD from here as you'll get less. You get your STEEM in your steemit wallet within 2 minutes after you make the payment with Bitcoin. Unbelievable, right? I know :) Even Binance will make you wait for nearly an hour for the confirmation.
Now head over to Steemit Market where you'll sell your STEEM and buy Steem Dollars (SBD). If you don't know how to trade there, please find a tutorial for that on steemit or youtube. You should get your SBD in your steemit wallet within few minutes after you place your STEEM sell order.
Congrats! You just earned some extra money out of thin air ;)
Today, I bought 0.001 Bitcoin worth of SBD following this method and got 5.412 SBD. Directly buying SBD with 0.001 BTC from BlockTrades would get me about 5.01 SBD today. So, that's a 0.40 SBD profit there ;) with 0.10 BTC that would be like $50 USD profit, for just doing little more work and spending only around 2 minutes extra.
If you find this method helpful and profitable please Upvote and Resteem this post and don't forget to comment if you have any questions. Gute Nacht :)
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