You have worked hard to earn those SBDs in your wallet. Now you are evaluating your options on how to sell your Steem Backed Dollars (SBDs).
As you notice with crypto markets, the price you sell at is the ultimate value of your crypto. So it makes sense (and cents) to evaluate different selling options before you decide.
One such option to sell your SBD efficiently and effectively is with Bitshares.
Besides a currency, Bitshares is a decentralized exchange that allows you to buy and sell numerous cryptocurrencies and tokens. One such crypto is SBD.
You can sell your SBD for USD, BTS, and OPEN.BTC.
Besides being efficient and effective, this option for selling your SBD is great if you want to know the EXACT price you are selling your SBD for. And sometimes the Bitshares market prices are higher than other markets as well.
And with the most recent update to Bitshares, selling your SBD with Bitshares is even easier than before.
Here is the three-step process for selling your SBD with Bitshares [RUDEX Option]:
Access your Bitshares account and click the upper right hand corner and click "Deposit (Beta)" like so:
The following Deposit screen will show up:
Scroll down to find "SBD" in the list and click on in and a screen like this will pop-up:
This means that you will be using the RUDEX (like OPEN for Openledger) as the gateway to transfer your SBD over to the Bitshares network.
Access your Steemit wallet and click "Transfer" by where your SBD are in your wallet.
Copy from clipboard or type in "Rudex" into the "to" form like so:
Next, press the copy from clipboard blue button on Bitshares to get the memo field like so:
Paste it into your memo field on Steemit and type in the amount of SBD you want to send like so:
Double-check everything and press submit to submit the transfer.
Roughly one minute later your SBD will show up in your Bitshares account as RUDEX.SBD like so:
O heck yeah the RUDEX.SBD is in your wallet, now it's time to sell it on the Bitshares marketplace.
Click the "Trade" button in your dashboard next to the RUDEX.SBD like so:
The RUDEX.SBD market will show up. Take notice of the spreads and the prices. Sometimes it may be better to wait a few hours to let more buy orders come in.
If you want to sell now, go ahead at click the highest bid price [the highest someone is willing to buy RUDEX.SBD from you].
And then click your balance to pull up the max SBD. And the screen will show up similar to this:
Click Sell.
Double-check the information is correct and click "Confirm" like so:
And congratulations you have just sold your SBD into BTS with Bitshares.
You can now use those BTS to purchase other cryptos, exchange into BTC, or hold as in investement.
With the Openledger gateway down for SBD & STEEM at the moment, this is one, new way to sell your SBD with Bitshares [RUDEX option].
This concludes this tutorial using the open-source Bitshares network to sell your SBD on.
Hope this provides value and helps you navigate this interesting crypto landscape. Remember this is just one way to sell your SBD.
Much love and appreciation for taking the time to read. Hope it helps.
Image Sources:
- Blog headers created by myself
- Screenshots by myself from wallet.bitshares.org
Namaste
Posted on Utopian.io - Rewarding Open Source Contributors