What do you do with your Steem Dollars (SBD)?
One thing I like about Steemit is that you can experiment with so many different things there. For example, you can use your Steem dollars (SBD) in so many different ways.
I can think of the following ways, you can use your SBDs for.
1. To buy upvotes from bots
This is quite common among the minnows as they need to up their reputation as soon as possible. Most of the bots are listed on https://s3.amazonaws.com/yabapmatt/bottracker/bottracker.html.
2. To buy delegated STEEM power
We know that it is a painstakingly slow process to increase your STEEM power. An easier way to temporarily have more STEEM power is to buy it from organizations, such as Blocktrades and Minnowbooster.
3. To buy STEEM power
Its good to have delegated STEEM power, but it ends sooner or later, and its not really yours. For example, if you want to get back your money using powering down, you cannot utilize delegated power for that. So, while its a slow process to power up, the good thing is that it really belongs to you and stays with you forever until you decide to power down. You can use Steem market to convert your SBDs to STEEM.
4. To buy other cryptocurrencies
If you think that other cryptocurrencies are going to perform better than STEEM, you might wanna transfer your SBDs to an exchange to buy those cryptocurrencies. You can also buy other cryptocurrencies, and sell them back later on to get more STEEM/STEEM power. Bittrex and Poloniex are two popular exchanges that support trading of STEEM and SBD.
5. To convert it to fiat
Maybe now you have started earning quite well on Steemit. So well, that you can now afford to start converting some or all of your SBDs to fiat, to help with your bills, groceries and stuff. Bitstamp is a site where you can convert cryptocurrencies like Bitcoin, Litecoin, Ethereum and Ripple to euros or US dollars. To convert your SBDs to fiat, you'll of course have to first convert them to a cryptocurrency which can then be exchanged for fiat.
So, we have seen various ways to utilize your SBDs here. What do you mostly use your SBDs for? I would really like to know. Personally, I have utilized them for all the above listed purposes, except converting to fiat.
Kudos to @krenter for resteem and passing along the knowledge @hmushtaq.
That was so nice of @krenter indeed. And thanks for your appreciation @senseicat :)
I'm buying BitShares with half and Steem with the other half. They both have huge potential in the next 12-24 months...new users without much Steem Power already should probably power up 100% for awhile until they build a bank of at least a couple hundred Steem Power.
I totally agree :)
It is good to constantly boost the Steem Power to have a better experience on the platform.
I am 100 % Agreed with you. In Sha Allah I will definitely Try it. I was also thinking about that. No doubt about Steemit is such a wonderful and flexible platform which gave us the opportunity to play and get maximum results. i want to say you can achieve your goals on Steemit with less input and more output!
Thanks for Highlighting such a useful stuff @hmushtaq.
happy new year 2018 in advance!
Thanks for your appreciation :)
Nices, thanks for the ideas, in my case I was curious was the operation of steemit, I'm still not sure what I'll do with the SBD, but this list a good start
It depends on situation, if someone is new on steemit then it is best to buy upvotes from bots, if someone has reputation 50 or above then it is best to buy STEEM power and then to buy delegated STEEM power and at last to buy other cryptocurrencies.
Yes, what you described is a good strategy :)
Good post, thanks.
I'm new on steemit, I joined 3 days ago but I've already done 4 posts. However I had poor results (many views but few votes). Which bots do you recommend for upvotes? How much do they cost?
There are plenty of bots. See https://s3.amazonaws.com/yabapmatt/bottracker/bottracker.html
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tanxs for the info i had no idea without the exchanging one that we can use it in so man different ways too.
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