Since Binance lists STEEM but not SBD, this is how you sell your SBD there anyway by pandorasbox

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cryptocurrency · @pandorasbox · Feb 3 '18

$2.10

Since Binance lists STEEM but not SBD, this is how you sell your SBD there anyway

<center>![BASE HEADER howtosellsbdbinance.png](https://steemitimages.com/DQmXxgyQhNbjppe62ewNgAZgaEGDFKC4VidAPouxbt9kQQ6/BASE%20HEADER%20howtosellsbdbinance.png)</center>


<h3> A few days ago [I posted a trick on how to transfer funds cheaply from Bittrex to Binance](https://steemit.com/cryptocurrency/@pandorasbox/cheapest-way-to-transfer-between-bittrex-to-binance-only-usd0-02-in-fees), which was mostly because I discovered it when I wanted to sell some SBD for some altcoins that I couldn't get on Bittrex. Now that Binance has listed STEEM, but not SBD, I have found a better method with fewer jumps.</h3>


<center>![dividerline cartooney2.png](https://steemitimages.com/DQmVmKeFJZVR7A2hRwk6wYM5DiphcFJ8RmxvYpc8FWvhmNP/dividerline%20cartooney2.png)</center>

<h3>THE NEW WAY</h3> Before I would send my SBD directly to Bittrex and sell it there, and then trade or transfer it for whatever I fancied at the time. But now Binance has listed STEEM, and I no longer have to go through Bittrex.

Except... Binance doesn't let you sell SBD! No fear, there is a way!

Simply use the internal STEEM/SBD market! At first I thought this would fetch me a bad price, but upon doing some calculations it seems like the prices aren't bad at all! I actually made a small profit.

See through the internal market you can simply sell your SBD for STEEM. Once it's turned into STEEM, you can transfer it to Binance and sell it for the current price there. Since STEEM is fast and the prices are similar on both the internal market and Binance, you won't lose (much) this way. Like I said, I actually got a slightly better price!

This way is _even cheaper_ than what I posted before, because it doesn't involve the XVG conversion and 0.2 XVG withdraw fee from Bittrex. Not that it matters too much as those costs were tiny anyway, but foregoing this former method and choosing this new method sure is a lot faster since it requires less actions and jumps between exchanges.



<center>![dividerline cartooney2.png](https://steemitimages.com/DQmVmKeFJZVR7A2hRwk6wYM5DiphcFJ8RmxvYpc8FWvhmNP/dividerline%20cartooney2.png)</center>

So even though Binance doesn't list SBD, you can simply convert to STEEM and sell that and it works just as well. Additionally, since I am buying Nano/XRB now with my SBD, I am very happy to see it listed on Binance also. This saves me another 'jump' to Kucoin! Yay!
I was excited about this, so I thought I would share!

<br>

<center>[![footercartoon new5.png](https://steemitimages.com/DQmRMndUYFqxoxwcTkTR4JAADzH6o43QhSS1WM17wP8uD1C/footercartoon%20new5.png)](https://steemit.com/@pandorasbox)</center>_(Art by [Roy Lichtenstein](https://en.wikipedia.org/wiki/Roy_Lichtenstein))_

👍 forexbrokr, fiducia, carrinm, qustodian, minnowsupport, toofasteddie, buggedout, g-dubs, pandorasbox, upv4life, jpgaltmiller, kazish, steemspoker, followforupvotes, sbi2, scalerman, curiousone, cryptobr0, zhawk26, longcat, mememetics, honolulu, fahrizalarif1995, coin.info

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@ceemo · Feb 3 '18

Thanks for this information

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@coin.info · Feb 3 '18

**Coins mentioned in post:**

Coin | | Price (USD) | 📈 24h | 📉 7d
- | - | - | - | -
**SBD** | Steem Dollars | 3.984$ | _7.59%_ | _-42.76%_
**STEEM** | Steem | 4.460$ | _7.71%_ | _-26.85%_
**XRB** | Nano | 16.411$ | _-6.85%_ | _-13.79%_
**XVG** | Verge | 0.065$ | _23.2%_ | _-30.01%_

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@followforupvotes · Feb 3 '18

Congratulations

As a follower of @followforupvotes this post has been randomly selected and upvoted! Enjoy your upvote and have a great day!

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@forexbrokr · Feb 3 '18

Seems ridiculous that they’d list Steem and not SBD. But shows just how little care for Steemit itself that anyone trading Steem on an exchange has. Interesting I guess.

👍 pandorasbox

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@jpgaltmiller · Feb 4 '18

Is it weird? My understanding is that SBD is supposed to be a token specific to Steemit. It's supposed to be pegged to the dollar (even if it has wildly strayed from that recently). My understanding is that SBD is not intended to be a vehicle for investment, but Steem is. So, with that understanding, I would not expect to see SBD on exchanges outside of Steemit. (But I'm way new to all of this, so who knows.)

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@forexbrokr · Feb 4 '18

What you’ve said is true in the original Steemit theory, but SBD doesn’t have to just be the pegged Steemit specific token. It can act just like any other altcoin and with the price pumps on other exchanges, this has been the case.

I just thought that by listing Steem, they’d SBD too, but I guess not.

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2 replies

@pandorasbox · Feb 4 '18

I thought it was weird too, but maybe they will add it later, it should be easy to do

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@jpgaltmiller · Feb 3 '18

I had heard that Steem was available on Binance, but I hadn't yet looked into the details. (Still waiting on my verification for the site.) So just to clarify - is there a fee involved in moving Steem over to Binance? And did you notice the reverse - what kind of fee to move Steem from Binance to Steemit? 

Thanks for the info!

👍 pandorasbox

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@pandorasbox · Feb 4 '18

Nope, there is no fee to send from Steemit to Binance. For withdrawals Binance charges 0.01 STEEM so not that bad

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@jpgaltmiller · Feb 4 '18

That's fantastic. Thanks!

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@kazish · Feb 3 '18

$0.02

Wow I actually did not knew  binnance steem wallet is now operational last time I check it was unavailable , thanks for the info

👍 kazish, pandorasbox

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@pandorasbox · Feb 4 '18

I'm not sure about now but I was able to use the wallet yesterday

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@kofibeatz · Feb 3 '18

Miss @pandorasbox have you tried using Bitshares. Bitshares is the best exchange every, because it's decentralized and is built by the same guy who built Steem; Daniel Larimer (The Heavy Weight Champion Of Blockchain)

👍 pandorasbox

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@pandorasbox · Feb 4 '18

Yes, I actually just wrote [a post about it](https://steemit.com/cryptocurrency/@pandorasbox/i-think-i-m-starting-to-get-bitshares-bitcny-market-cap-grows-a-lot-china-moving-to-dexes) two days ago! 

But if you want to buy altcoins, Bitshares doesn't offer many of them

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@kofibeatz · Feb 5 '18

Yeah, that's the only shlep, however you can use you Bitshares key to purchase many more altcoins on https://crypto-bridge.org/. It's so cool, because crypto-brige pegs your coins as assets to the Bitshares network @pandorasbox..

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@minnowsupport · Feb 5 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by pandorasbox from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

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@zhawk26 · Feb 3 '18

Good way to do it especially if you are very active on Binance. Of course, Im a big believer in just hodling Steem right now because I think its a big year and its going to have a giant jump. Thanks for sharing.

👍 theb0red1

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