HOW TO: Convert Steem Dollars to Steem and then to more Steem Power if you want
This is not the most obvious thing to us new people. I saw a post using Bittrex but even that is more difficult than necessary.
First thing to do is look at your wallet and see how many steem dollars you have.
In my case I currently have $0.195 Steem Dollars so you are not going to see impressive numbers and changes, but I will show you how to do this.
Next look in the upper right corner by your avatar menu. To the Right of that is 3 bars that are a menu symbol. Click on that.
In the menu that opens up click on Market.
To the right are the prices people are ASKING people to pay for steam. To the left is people who have posted BUY orders and are hoping people will sell to them for that price. (you can play the market if you like)
Decide how much you are willing to pay in steem dollars and in the section under the left type the price you are willing to pay for each steem dollar into the PRICE field.
Skip the Amount and just type the amount of STEEM DOLLARS you wish to convert into the TOTAL field. It will automatically calculate the amount for you from there.
Click BUY STEEM. This will pay a market order. If someone is interested it will happen almost instantly.
If they don't buy it instantly it will show up under open orders that also has a CANCEL link you can use to cancel it.
Once someone sells to you check your wallet again.
As you can see I now have no Steem Dollars but I have 0.063 STEEM.
Click on the STEEM menu
Click on POWER UP.
Be sure to read that so you understand what you are committing to.
Enter the amount of STEEM you wish to convert to STEEM POWER and click POWER UP.
Check your wallet and your new steem power should be there.
EDIT: For clarification it was NOT Craig-Grant's bittrex post I was talking about. I only just now saw his video. That is another method and there are some important reasons to consider it instead of the easier route above. I will link to Craig's post here so you can check it out: https://steemit.com/steemit/@craig-grant/how-to-transfer-and-sell-steem-or-steem-dollars-on-bittrex-com
EDIT 2: Another frustrating thing is last week someone told me I should use the Hamburger in the Market on a post. I laughed and indicated I didn't understand what they were talking about. His post AND MINE were up voted yet no one bothered to tell me what he was talking about. I didn't know about the MARKET it is not obvious to you as a choice when you are in your wallet. I found out a couple of days later. Well this post at least explains it to people. I hope this and Craig Grant post are of help to everyone.
This deserved WAY more than .11 cents.
Yeah man its a great post, worked for me and saved loads of hassle!! Thanks @dwinblood
lol your comment got more than hes whole post, thats why i hate this place. There are lots of interesting and helpful people here but that doesnt matter when you need to write and kinda beg here. Also views should count aswell or have some kind of value whether its liked or disliked post its engaging people.
Hahaha... That's just steemit. I wrote posts I absolutely loved and I got $0. I just kept putting in the time. Now pretty much anything I post makes something, perhaps in some cases more than it deserves. I also had some back then I didn't expect to do well that did well.
Upvoted bro! @dwinblood
Couldn't agree more. Thanks for being a pioneer and sharing this with us, @dwinblood
Dude that was super helpful! I'm so thankful you did that post!! :)
Do you know exactly what to put in the TO: field during all transactions, when to leave it as your name (for example 'patricksbc' is what it automatically filled in there) and/or when to put a key in there when you want to transfer money out of your account?
Also, where should the money be when you are about to enter a deposit key in there to transfer out of your account?
I've spent about a month periodically researching these answers, reading through dozens of posts, still to no avail.
I lost money I think transfering from savings to steem dollars, and so on, trying to figure this out. Still haven't gotten one dime out of the Steem website.
Never put your key into a transfer field. It is asking for an address for a crypto wallet... which is provided by where you are trying to send it to. The address from there goes into the memo field of the transfer.
The account name should be the person you are sending it to. You should never put your keys into any field when transferring unless you are trying to give someone control of your account.
The address to use is provided by the person/place you send money to. Think of it as a bank routing number.
If you are transferring between accounts on steemit you can put the person you want to send to in the account field and the memo field is used in that case just to tell them a message that you wanted to say. Such as "Here is a tip".
Thanks @dwinblood! I'm awfully slow at learning all the tricks and post like this certainly help!
Btw, I see you posted to ten tags - have the rules changed?
Yes that is a very old post... now we can only use 5 tags.
I feel stupid for needing this but it was a literal lifesaver. I wish I could upvote it twice.
Thank you so much for this! I've been struggling to find info on it. I wish I could upvote! Love Lali xx
Thanks for the post. I am new to steemit and have no idea what I am doing here. Looks like last year it was valued at $3 and this year it's valued at $1...unless I'm reading that wrong. I have no idea! :)
It goes up and down. It hit $4 briefly in July 2016, then it dropped. It dropped to below $0.10 around December. Then it shot up to $2+ around March. It goes up and down.
Wow, it does fluctuate quite a bit then! Thanks for the reply! Really appreciate it!
Hey thanks for this post,it is so clear and am happy you wrote it.
I feel like something has been lifted off me,i have looked for this info for almost a month and am glad you explained very well and guess what,i did my first transaction on Steemit....
I had 0.239 Steem dollars and it converted to 0.196 Steem and finally that converted into 0.927 Steem Power.
I feel like a god..!!! hats off to you.
Thank you for this post @dwinblood!
(Still after 11 months you published it )
This is so far the best explained blog on this most confusing topic at Steemit. Great job man! Thumbs up!