STEEM/SBD To Fiat Conversion Optimizer
Click here to open the STEEM/SBD To Fiat Conversion Optimizer and try it out.
Repository
https://github.com/vanarchist/steem-sbd-fiat-optimizer
Overview
There is not yet a market for directly using earned STEEM or SBD to make purchases for living essentials such as food, etc. STEEM or SBD must first be converted to a fiat currency such as USD to pay living expenses. More exchanges have been adding trading pairs for STEEM and SBD. This app identifies the optimal transactions to go from STEEM or SBD to the target fiat currency that will result in minimal loss of value. GDAX/Coinbase is a popular exchange for converting to USD in the United States. GDAX has free withdrawals of USD to bank accounts. Currently, only USD through GDAX is supported as a target.
New Features
STEEM/SBD Current Price & 7 Day History
The current price shown is computed from multiple exchanges by coingecko. The input amount can be changed and the total USD amount will be updated. The input currency can be changed and the amounts will be updated accordingly. A 7 day price history chart is shown to help identify whether it may be beneficial to wait for a price adjustment before proceeding with the trades.
Blocktrades & GDAX Transaction Optimization
Once the appropriate input amount and currency have been entered, the Calculate button can be clicked to query the exchanges for price information. GDAX currently supports four cryptocurrencies, BTC, BCH, LTC, and ETH. Blocktrades also supports these four cryptocurrencies as well as STEEM and SBD. GDAX does not support STEEM or SBD. Therefore, we need to find the optimal trades of STEEM or SBD through blocktrades to GDAX, then USD. The trades will be sorted by the highest ending value in USD. The calculation assumes a maker limit order trade is made on GDAX such that no fee is added to the trade. Withdrawing USD to a bank account from GDAX does not have any fee. I didn't see anything mentioning fees on the steemit STEEM/SBD market, but if there are, let me know.
DISCLAIMER: I will not be held responsible for any bad trades. Always verify prices before making any trades. The software is a work in progress and not guaranteed to provide accurate results.
Proof of Work Done
Pull Request
Work was performed on the blocktrades-gdax branch and two pull requests were made to merge with master. Here are the pull requests:
https://github.com/vanarchist/steem-sbd-fiat-optimizer/pull/1
https://github.com/vanarchist/steem-sbd-fiat-optimizer/pull/2
Thank you for your contribution. I think the project is not very unique in the current state, because why would anyone use the optimizer when they have so many API's available, they can directly go there and check all the details. Please try to make it little unique which will then be helpful for the community.
Your contribution has been evaluated according to Utopian policies and guidelines, as well as a predefined set of questions pertaining to the category.
Need help? Write a ticket on https://support.utopian.io/.
Chat with us on Discord.
[utopian-moderator]
Not sure what you mean. I don't think your average person is going to make API requests to get the data. Even if they did they'd have to do all the computations by hand which would be very time consuming. I made this tool to address those issues as it was impractical to check and calculate all the possible transactions manually.