If you haven't noticed already, Steem Dollar is trading above $2 in the crypto markets. Steem has also recovered from a sluggish $0.9 to $1.00 price run for more than a month. Last I checked, it was $1.10 on Coin Market Cap website. SBD was $2.07 and it presents a unique opportunity.
Making Profit from SBD
The opportunity is of massive proportions. I'm afraid it may be over soon so I just want to hurry through this post. There are two ways you can avail this opportunity.
1. Sell SBD on External Exchanges to Get Bitcoin
SBD is pegged to remain close to 1 USD in price. However, supply and demand dynamics have increased its price above $2. It is not permanent. It will come back to $1 eventually. For example, when I joined Steemit in June, SBD once traded at $2.78 , which was an unexpectedly high price.
What you can do is to sell SBD right now and get Bitcoin. You decide to hold Bitcoin or sell it to withdraw fiat money is your own choice. You can even hold Bitcoin and buy back SBD when it comes back to $1 price.
If you have 100 SBD right, it means that you can buy $207 worth of Bitcoin. When SBD is $1 again, you can buy back 207 SBD (107 % profit). Furthermore, if Bitcoin price rises as it happens, you may end up having $300 or more to cashout of invest in SBD.
2. Buy Steem on the Internal Market
Steemit has its own market place. I love its simplicity and easy trading platform. Right now, for 1 SBD, you can get more than 1.75 or more Steem. 1 Steem is priced under 0.60 SBD and it is as low as it can get.
If you sell 100 SBD to buy 180 Steem right now, it is a wise thing to do. 100 SBD will be worth $100 eventually but 180 Steem can be worth anywhere between $150 & $300 immediately. With bright things planned ahead, you may be having $720 to $1000 (Steem goes $4-6) soon with a simple SBD/Steem trade.
Conclusion
I chose option # 2 because I love Steem and I wish to keep all my trade on Steemit. I have converted almost all of my SBD to Steem and as I get more payouts, I will keep collecting Steem.
Opportunity of a lifetime is there to take! All I request you is to resteem this post so that more Steemians can make good profit from their hard earned money. Upvote to get this post noticed and resteem to let your followers know please.
Excellent information. Thanks brother @ilyastarar.
Thanks for the comment and nice of you to resteem.
you welcome!
Informative post by you bro @ilyastarar
Thanks for resteeming it.
U welcome
Wait, so Steem Dollars (what we get pay outs in) can be traded outside of the steem world. And this same steem dollar that we convert to steem at something close to a 1 to 1 ratio of steem dollars to steem is worth twice as much as steem? Does that mean I’ve been getting screwed over by converting my steem dollars to steem? I’m very confused now about payout getting steem dollar on steemit vs buying steem and steem dollar on the market.
Please resteem.
Very informative post. After reading this, I bought some Ethers from my SBDs through blocktrades.
That's great!!! You'll see how much profit it makes. Ether will go up with Bitcoin as well.
I was able to take the chance. Woke up to the news and by then, SBD was hovering around 2$, so I exchanged what I had for double steem.
Great @dorth. Happy that you grabbed some cheap Steems. And thanks for commenting here. Pleased to follow you.
wow amazing post @ilyastarar
if you can visit to my post
If you could read my post...
brother i have a question now 1SBD=0.9$...you say in june it was more than 2$....i can not understand well because i am not good in english....just tell me dat by day...price of SBD increase or decrease....????
Right now, SBD = $2.08 but normally SBD = $1. Price increased.
thanks for the update.
You're welcome. Stay tuned. I share such updates and opportunities regularly.
thanks a lot
Please resteem
I can't understand how this happened. This market is impossible to predict...
It is impossible to predicted but possible to happen. Market is determined by supply and demand. Demand increased so the price went up.
Some pump groups are sometimes responsible for the pump in price of SBD. But since it is destined to be around 1$, it would always return to position when the pressure is down.
That's true and I think SBD is a lucrative pump coin because of the $1 pegging. Profit may be missed but at the right buy price, loss is hardly expected.
And please resteem the post.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by ilyastarar from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
You made some good moves! good for you!
Well said @ilyastarar. What I tell people is that SBD is destined to be at 1$ and so anytime they see it above 1$ and up to 2$, then they should know it was time to take profit and prepare for another journey to it's statutory 1$.
Exactly. I'm sure you are talking about Steem Dollar not Steem. :)
Oh! My bad.... Yeah I was referring to SBD (Steem baked dollar)
I knew ;)