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Power up is used to increase your Steem Power, which affects the strength of your vote. Meaning, it's useful for curation. Currently, you make much less from 100% than what you would make with 50/50.

Thanks for that info.
Does powering up benefit steemit?

yes

Fab. I’ll do it that way then. 50/50 then power up.
Cheers!

I suggest you select the 50%/50% rewards option, and THEN decide if you want to convert all into STEEM and power up ;-)

I tend to power it all up but maybe you’re right.