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RE: Market Snapshot - June 9th 2018
Buna Dimineata Dragos!
I need to ask you a technical question regarding the wallet and it's about the wallet section. You have there the Savings area. I look around and notice that nobody is using it. My first question is what is the section for?
As well it states: "Balance subject to 3 day withdraw waiting period,STEEM DOLLARS currently collecting 0% APR". What is this APR means?
I bet there are a lot of Steemians that have no clue as well!
I wished the ratio between SBD and Steem will be much better in the future.
Thanks a lot and wish you a great week-end!
APR = Annual Percentage Rate and it's the interest paid for holding SBD. This APR is dynamic and it's set up by witnesses, you can see the number set by each witness on http://steemd.com/witnesses. In the early days of Steemit, when SBD wasn't gamed, holding SBD was subject to up to 10% interest (to incentivize people to hold on to it).
The savings account is a protection feature. If you want to put aside some funds, you should do it there. The 3 days withdraw waiting period is a safety guard, in case your account gets hacked. Basically, if somebody takes over your account, he will not be able to withdraw your savings immediately, giving you a 3 days time window to react (freeze your account, recover your keys, etc). That doesn't happen in the main STEEM account, where funds are always available.
Super! Thanks a lot for the detailed replay...