Help needed: How to best use Steem dollars?
Hey there, dear readers, I need your advice. I am still a little confused about how to best use my steem dollars. Should I convert them to Steem Power using Conversion or should I trade them at the internal market? I see I can get around 1.3 Steem for 2 steem dollars now. Is that like a good rate?
Sorry for a noob question, but after reading a bit, I am still confused.
Thanks.
I just trade all mine for bitcoin and sell that on coinbase.
I would say it really depends on your current circumstances and your views of the world. What are your liquidity needs and your investment outlook?
If you truly believe that the Steemit platform is a game changer, you should try to invest into Steempower to have an "equity" stake. As Steemit acquires more users and valuable content, you'll also share the benefits through the ownership of Steempower.
However, if your financial situation is precarious and you are in need for fast cash, there's absolutely no harm in cashing out via bitcoins then to fiat.
Conversion via the internal market is a faster way to power up without further consideration. What is good may not necessarily be good because it's matter of relative comparison. You can check out various exchanges such as Blocktrades or Bittrex to see if their rates are better than the internal markets.
I hope I answered some of your questions.