This is a follow-up post to my Steem Power article. Today I will demonstrate 10 amazing uses for Steem Backed Dollars (SBD), the second currency we can earn with our posts and comments on Steemit. They are more then they seem.
You can exchange SBD to Bitcoin
SBD is a great way to get liquidity! Exchange it on @blocktrades or use one of the other exchanges and receive BitCoin or even better LiteCoin (because of the lower fees and faster transactions). With that you can do whatever you want: Trade it for FIAT money, invest it into other cryptocurrencies or just hold it. π°π°π°
With a higher Steem price you earn more SBD
When the price of Steem rises your post payouts will go up as well. If you have the 50/50 payout option activated then you will receive more SBD than with a low price. If the price of SBD itself goes higher than 1 US Dollar than it will be more lucrative to keep your posts on 50/50 all the time.
You can boost your posts with Upvote-Bots
Investing into your posts is a great way to reach more people! Upvote bots like @minnowbooster, @randowhale, @bellyrub and @booster can push you into the hot and maybe even trending section of your tags. If you are clever about it maybe even in the overall tabs. Some of these bots are bid-bots which will often end up in getting smaller upvotes than the worth of your SBD. However, you can see it as an investment into your Steemit account.
You can use Resteem services to reach more people
Resteem services are a double edged sword: On one hand we shouldn't have to pay for resteems. And these services either clutter the walls of their followers with tons of random content OR they just have bot followers in the first place. We never know. On the other hand this is a chance to reach more people and Steemit doesn't help with that mission very much.
You can buy upvote points on SteemFollower
This is a relatively new service that gives you points for upvoting only within its ecosystem of Steemit users. For these points you will get an equal amount of upvotes back over time. The developer told me he works on opening it up to communities which will help them to manage keep track of everybody. You can BUY these points with SBD on its own internal market. You can find a new audience like this.
You can use SBD for Steemit commissions
This is one of the most beautiful usecases for SBD: You can find someone for any kind of job and pay that person in SBD without fees or delays. It is the best payment system I can think of which only lacks a proper in-house debit card. But that will surely come. Use the tag Steemgigs to find artists and more for your commission work. And you earn while you are looking. Check out my latest posts below for two great examples!
You can pay Steem merchants
There is @steemporium with creative Steemian designs. Check out their shop and send them your designs if you are an artist, illustrator or designer. And there is the more Steem brand oriented Steemit Shop. Here you find all around the Steem logo. These are merely the tip of the iceberg as more and more merchants pop up as Steemit grows.
You can tip other Steemians with @tipU
One of the coolest ways to say thank you is a @tipu gift. With that bot you can send tips by just using a the word tip in your comments. Your upvote might be worth little to none yet but you can earn SBD relatively quick. Showing your appreciation with it is fantastic to create trust and respect. And unlike an upvote it will go in full right away into the users wallet.
You can invest it into @bellyrubbank
The user @zeartul runs his own bank: You can invest your SBD into @bellyrubbank and get 45% APR for a 3 months vesting time. This is a nice alternative to the potential SBD interest rate of Steemit itself, which is currently voted by the witnesses to 0%. If you are not planning to use your SBD otherwise this might be ideal for you.
It is less volatile than Steem
The price of Steem is bouncing up and down all the time. Steem Backed Dollars are tied to the US Dollar and usually hover around that price relatively stable. If you plan on paying your bills with your Steemit income you can rely much more on your SBD than on Steem. And besides, it is a good idea to not touch your Steem reserves anyway and keep them in Steem Power.
My Latest Posts
π¬π¬ Steemy - EP. 27: Steem Tag Search
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I had no idea about more than half of the points you covered here. Very insightful stuff, buddy. Again, a masterclass in some of the great use cases we can put our earnings to.
Very well done, bro. Phenomenal post. :)
Thank you @ezzy, I appreciate your praise. :)
thanks for the insights
Welcome back from the minivacation @flauwy! A few days off might not seem much but in Steemland time is sped up. Exponential growth is great but it's tough to keep up with everything. Thanks for investing so much time and effort into this, you really bring a lot of value to the community! I love your whole concept with Steemy and the honesty you display in your vlogs.
Here's two tools that are really useful when bidding on the upvote bots!
BIDDER β DR. OTTO ANALYZER
Steem Upvote Bot Tracker
There's a poker tournament tonight where you can win SBD.
Free to play and over 60 SBD in prizes! :)
Thanks for sharing this post bro
Is there any time that it is favorable to use the 100% SP option?
Yes, when the SBD price is far below 1 USD.
Ok thanks. Is there any interest paid on sp or sbd?
Yes, there is something like a 1.9% yearly interest on SP. There could be interest on SBD as well but the witnesses have voted it down to 0% currently.
Sure, Steem sounds like a good idea to make the triplet complete. ;)
Good question I don't know!π π π
would you do a post on explaining tipu more. How does that work?
:)
Thank you! Got it now!!
I also am proud to say that we accept Steem Dollars for the people that want to buy any printing product from us. We even encourage it by giving a 10% discount on any purchase. Just write us at [email protected] and ask for a tender. We deliver everywhere in United-States and Canada.
Nice, that's the way to go. The more people who do that the better for the Steem value!
It is the idea, I hope it is going to be the next number 1 cryptocurrency
Maybe good that they take sbd. I fear the day when steem is full of ads like the above.
I ain't got no Steem Dollaz. Will it work for me anyway?
I never heard of the Bellyrubbank thats sounds like a great investment to put your SBD, thanks for sharing!!!
Nice information!
I enjoyed reading this post because the ideas are easy to follow.
Good, I kept it simple! :)
Great guide! I spent a long time looking for something like this!
Thanks @flauwy for more hints using SBD. Amazing! Keep on your good job! Saludos!
Hey @quincho, hope you are alright. No flood where you are?
Oh thanks @flauwy, we are alright after a very, very big storm with masses of rain. Now the sun is shining. And you? I hope you succeed in making outside videos! Have a great day!
WOW that's a great post! Awesome list how to use SBD!
Thanks for creating and sharing! Resteemed for sure!
You can buy music, digital art, and books on steemfiles.com https://steemit.com/steem/@steemfiles/steemfiles-service-announcement-for-october-07-2017
Hi @leprechaun! @flauwy is sending you 0.1 SBD tip and @tipU upvote
:)
@tipU - send tips by writing tip! in the comment, get share of the profit :)Awesome, I didn't know that project yet. Thanks for sharing with me. Take a tip! for that.
Thanks. I will check it out.
My man! What a beast :)
Nice advice for the uses of our SBD. Very valid points right there.
How you doing? :)
Doing great. The last few days were tough to get back to work but I think I found my mojo back. :D
This is awesome @flauwy, resteeming
Nice, thx for the resteem, @mrs.digitalgold!
I'm new to Steemit, so thanks for the advice and breakdown, so helpful :)
Check out my animated Steemy series for daily Steemit tutorials. :)
a good post I like it I've upvote and resstemI will always wait for your next posting
Cooool, thanks for the resteem! :)
Thanks @flauwy , U got a follow and vote.This helped me alot. So much info about steemit, steem, cryptocurrency that we need more clarification at times, well i know i do.
Hey Kevin, Steemit can be confusing. Check out my animated STeemy show where I do Steemit tutorial videos.
Great Post. I used your link to give Steemfollower a try and even upvoted this post using it!
Cool...
Thank you for Information, I macke a Power Up, @bellyrubbank is alternative.
Very nice advices and tips. Thank you for the resume ;)
Hey @cryptopassion, thanks for the help. :)
This articles explained it well, thanks.
I converted the little SBD I had to Steem.
I'm going to use this to power up my account.
Which should give me more voting power I believe.
That is correct, with Steem Power you will do higher upvotes!
Very useful information indeed. Thank you for the in-depth research and great writing @flauwy
Upvoted & Following!
Which is the minimum amount I can send to bots?
Depends on the bot. @bellyrub and @booster accept 0.1 SBD. @randowhale 0.5 SBD. And Minnowbooster 2SBD. But you should always double check their profiles for updates first!
@randowhale has increased the rate from 0.5 SBD to 1 SBD. Now, it's 1 SBD.
Ref: https://steemit.com/steemit/@randowhale/randowhale-is-now-1-sbd-or-1-steem
Oh right, thanks for pointing that out!
When you say "updates" what you mean, what to be careful about? Thank you!
They change the rules all the time so you should not rely on what I said here.
Dang I didn't realize all the possibilities. Wow this is some legit info thanks and resteemed.
Cool, thanks for the resteem @jlsplatts! Glad you like the post. :)
SBD Guide
Very useful information from @flauwy... as usual!
Thx @otage.
By the way, are you aware how your comments look like in the comment section? I see the devider graphic as a preview.
Yes, I actually saw your tutorial about this exact thing and I have been looking for a solution to fix it. I guess I should refrain from using the image line until I do. I think it helps my comments stand out in the comment section without being too loud. But I guess power users like you read all theirs in the reply tab. Is it annoying to you?
No, it is not annoying at all. And yes, I always read in the reply tab. Do you read in the post? I never really did that but then I loose conversations from others with each other in my posts.
Thanks for the feedback! I do not get a ton of responses so I do read them in the post. If I have been off Steemit for a while I will go to the reply tab to see what has happened and if I see something new I will click "view the full context" which takes me to the comments section so I can see the comment in context and any other conversations that have occurred.
Ive tried signing up for steemfollower but kept getting errors so trying again. As soon as I get 20sbd investing in bellyrubbank
No idea why SteemFollower is buggy but the page needs some work anyway. I also have 20 SBD in @bellyrubbank to see how it goes. I might invest more later.
Im hoping by the end of the week Ill be able to make my first investment! I finally got to join steemfollowers!
Nice one! Good luck with that. :)
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Awesome Post.
Really good summary and explanation.
I also learned something ^^
Me too.
That reminds me, I should put my little bit of SBD into one of my favourite low cost coins and get a bunch. :D
Also, great list to show people that are undecided on their possibilities.
Low cost coins can be a really nice investment if you think they will kick off eventually.
That's right and even doubling what you put in on a quick bull run.
Very good information you gathered. Thank you
This is good news. Well done!
Great tips here...
Thank you, make good use of them!
Didn't know about most of this stuff. Thanks for posting! Upvoted and followed!
very knowledgeable and helpful for better future on steemit.
Upvoted and resteemed!!! Nice tips my friend :)
Thx bomby, I really appreciate it!
That's great
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by flauwy from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
This post has received a 2.62 % upvote from @buildawhale thanks to: @flauwy. Send at least 0.50 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.
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Great post, Now I have a better idea of all the possibilities that I have with my SBD, it really helped. Thanks!
@lillieskold
Hi @lillieskold, great that my article was of help to you.
wonderful
This post has received a 29.85 % upvote from @boomerang thanks to: @flauwy
@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read the @boomerang whitepaper.
Very good points. Thanks for sharing.
You are welcome. Glad you liked it.
Very nice post @flauwy
img credz: pixabay.com
Nice, you got a 2.2% @minnowbooster upgoat, thanks to @flauwy
Want a boost? Minnowbooster's got your back!
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I have done their bidding and now I will vanish...
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To buy more crypto and buy more crypto
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