Holding Steem Dollar = POS Only better

in #steemit8 years ago

Why holding Steem Dollar is better than POS or Staking other altcoins?

Lets take a quick look on what they both have to offer:

Holding your steemdollars gives you 10% annual interest.

Staking other altcoins also gives you interest with percentage that varies from one coin to another.

So why is it better if they both gives interest? The answer is because of steem dollars features that
your 1steemdollar will be always be exchangable to 1usd

Heres an example:
Lets say you have $100 worth of altcoin and $100 worth of steemdollar.. and both its market goes down in value..

Your altcoins now worth less than its original of $100
While your steemdollars still is $100

So what are you waiting for? go and invest on steemdollars now!!

#steemit #steemdollar #investment

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I am currently working with the theory that SMD will always move to parity with the dollar so if it is below dollar value (as it is atm) I will hold and if it is above dollar value I will buy STEEM cheaper.

See any holes in that plan

Agreed, I am keeping my Steem Dollars long term.

Same with my Steem Power, I am trying to accumulate SP and letting it grow.

You can't beat compound interest!!

If you trust steemit yo should invest on it for longterm by converting to steem power and holding steem dollars

I believe in cryptocurrency portfolio diversification @sinx22
As having all your eggs in one basket wouldnt be wise #altcoins

Steemdollars also have a bid/ask spread currently its USD 0.83 per 1SD - hence not as stable as one would think and subject to demand/supply factors

Thats also true and i also believe in the success of cryptocurrency but what lacks other cruptocurreny is their niche and or usability i think.. So im more on steemit for now.. As the saying goes strike the iron while its hot!!

Totally agree with you - invest your profits in your portfolio ;) @sinx22

Is it really paid at 10% interest? Rates here on savings are about 2.5%. That's huge if correct

Or is the steem dollar interest really just countering inflation as more steem is created?

I believe it really is 10% annually steemit devs wouldnt lie about that i think because theres a lot of intelligent steemers here that could prove them wrong and would put a bad reputation on steemit

fare enough - thanks for the reply. Steem on

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