The differences need not be small. If the price of STEEM drops rapidly over the course of the week, or potentially worse first rises and then falls, the results of conversion may be much worse than trading. Also conversion gets you STEEM. If the goal is to cash out then you haven't solved the problem by converting; you still need to trade STEEM for BTC and those markets also have spreads and liquidity issues. I'm not saying it is bad to do by any means, just that it isn't an automatic win over trading. Trading using the internal exchange is another option which avoids any issues with exchanges and their wallets. Currently the liquidity on the internal exchange is rather poor, but I think it will improve.
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Yes @smooth, I agree with what you have said here especially regarding the liquidity. I think that if more people were aware of how easy and fee free the market was to use, liquidity would certainly improve.