There are plenty of uses for STEEM just like most currencies. While it may be obvious to some how to best use the STEEM they've earned, this write-up is specifically for new, long-term players in mind.

I personally think that 0.78 STEEM for its population isn't too far fetched especially if some of the early adopters begin to view the platform as a potential investment vehicle (despite the risks). There are other cryptocurrencies with less users being valued similarly. But if this is indeed a bubble, then it pays to understand how such effects can be mitigated and used to our advantage. And that's by putting money to work instead of squandering it. I think it's important because the STEEM protocol distributes its currency 24/7 to network contributors, and there's just no stopping it. Here's what you can do with your "free" STEEM.

Option 1: Convert STEEM to STEEM Power

More STEEM Power means more curation rewards for your votes. Where on Earth do you ever get paid for voting? Remember that you can casually vote, actively vote, and even follow the votes of your favourite voters using a service like https://streemian.com. At the risk of having worthless STEEM in the future, STEEM Power remains to be the most carefree way to grow your STEEM, quite like a savings account.

So far I've been observing that my voting rewards float in between 0.2% - 1.0% increase in my total STEEM Power / week. Performance will vary, so here's a rough calculation. Assuming that you're not earning anything from posting:-

• 0.05% SP average increase from curation rewards / week, you'll end up with +2.63% / year.
• 0.10% SP average increase from curation rewards / week, you'll end up with +5.33% / year.
• 0.25% SP average increase from curation rewards / week, you'll end up with +13.19% / year.
• 0.50% SP average increase from curation rewards / week, you'll end up with +29.6% / year.
• 1.00% SP average increase from curation rewards / week, you'll end up with +67.8% / year.

_{(Please correct me if there's something wrong here with my numbers.)}

This would all depend on the state of votes going on in the network, and of course, the curation rewards algorithm which are subject to changes. Just saying that you can save up on STEEM and earn more STEEM simply by powering up and voting. Plus, powering up and having more voting influence will likely improve your position within the community. It's just how things work.

Option 2: Trade STEEM directly for products / services

A thriving circular economy is one that deals with its internal currency without going through the friction of conversions. While this would certainly take time, business owners can start considering the potential value of STEEM and accepting it as medium of exchange for their products and services. Hopefully the upcoming communities feature would help to facilitate WTB (Want To Buy) and WTS (Want To Sell) activities - this could certainly start creating supply and demand.

Option 3: Convert liquid STEEM to other cryptocurrencies

There's a larger universe out there other than STEEM. Converting STEEM to support other projects that you like could improve their valuation and in turn, benefit the STEEM network as well especially if you re-purchasing STEEM after profiting from other crypto-ventures. Plus your staked participation in other projects could bring in new users and developers to the STEEM platform. While there are no obligations and contracts around here, synergistic relationships with other platforms could conceivably improve STEEM's value.

Just make sure you do your research on the many tokenised projects out there. If you're new and got your first bunch of STEEM, start considering yourself a small-time project supporter / investor by learning the ropes. Personally, I think this is a better course of action at the moment compared to paying for food / house rent / basic needs. Reserve your STEEM to invest in all kinds of development, including self-development.

Option 4: Convert liquid STEEM to national currencies

While I typically think that converting STEEM to currencies outside of the growing crypto-sphere is a huge waste of potential, using national currencies to improve your non-crypto business can be highly beneficial for various reasons. That includes making STEEM more "real" since the status quo is still leaning on fiat currencies. Over time, more transactions exchanging hands between STEEM and fiat currency makes STEEM more believable in each passing day.

This is one of the reasons why Bitcoin and most of its dependant altcoins are becoming more valuable. They're simply becoming more believable as mediums of exchange. Remember the story about someone who snowballed the value of his ball-pen? That person's strategy was to keep exchanging the product that he has in hand, always for something a little more valuable. If I remember the story correctly, he ended up with a used car after trading back-and-forth on eBay. That said, try not to sell STEEM cheaper than what you think it's worth at any point in time. But if you're finding yourself in a tight-spot, by all means, use the STEEM that you earned to relieve yourself out of your situation.

This platform is that awesome..

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_{There are many helpful users on https://steemit.chat if you want to know more about cryptocurrencies and what you can do with the STEEM you've earned. Or just drop a comment here. All the best!}