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RE: The Beginner's Guide to Steemit, Part 4: Your Account's Wallet
Hi! Thanks, that was super helpful! I wish Blocktrades was more transparent about its fees between SBD/STEEM/SP. I see from other posts that the fees for BTC, ETH, and DASH range from about 3.5-5.5%. I suppose I'll have to do some more research! I'm willing to pay for the convenience as long it's not egregious.
Blocktrades' fees go down as you trade more. Put in the figure for 1 SBD, then 10, then 100, and you'll see. For BTC, most of the fee actually comes from the BTC end, and would apply in most exchanges.
I do find them reasonable, if you trade at least 10 or so SBD, though with SBD's current prices, it might require a bit more.
Edit: Also, it depends on the coin. I checked just now for instance, 67 SBD can lead to $122 worth of BTC, but $125 worth of Ethereum, while the nominal value is $129.31.
Thanks for the clarification, @geekorner! I knew it scaled based on the amount, but it's good to have some concrete examples.