Every day for the last few weeks I have been checking the price of SBD expecting it to fall. It did come down but suddenly increased in value again. I just checked coinmarketcap.com and SBD is shown as being the equivalent of 5.35 USD.
So what are your options when SBD value is high?
After all it is supposed to be close to the value of the US Dollar and I heard some of the experts saying that it will come come back soon to 1 USD. How soon is anyone's guess - I think it will be at least a few weeks or even months before they manage to peg it back to 1 USD.
The first option that the majority have exercised until now is to cash out the SBD. At the current rate you will get 5.35 USD less fees which means 100 SBD will mean over 500 dollars in fiat currency. That is a good amount of money for posting content and commenting on a social platform!
The second option is to convert it into Steem. This is a very sensible option since SBD is valued even higher than Steem which sits at 4.36 USD last I checked a few minutes ago. Once SBD goes back to its USD pegged value Steem will be expensive as it has always been valued higher that SBD. Hopefully Steem will continue to trend upwards in value with the bloggers rising popularity of Steemit.
It is expected to go much higher with the introduction of SMTs later this year with many saying that it will be 100x the present price. That means Steem will be valued between 100 USD and 450 SBD if you take account the last few months value of Steem.
The reason for buying and holding Steem is the present undervalued state of the cryptocurrency. By purchasing Steem with your SBD you will be buying what will be a coin of high value in the future, at a very cheap price. Even if it continues at the 4 dollar level you could be buying 1 Steem for 4 SBD a few months or weeks later.
But it doesn't stop there. Post to your blog regularly if possible at least once a day. As you keep earning SBD convert it to Steem at the time of payout. It is the cheapest and most economical way of acquiring Steem - no mining needed, and no need to spend any of your own money to purchase Steem.
You can easily increase your Steem Power by buying Steem and converting it to SP. This will also increase your voting power and credibility on the platform. A high SP is always beneficial especially when you would like to reward your followers and readers when they upvote your posts.
Once you have additional Steem you can also lease delegation of Steem Power through the lease marketplaces. This can increase your SP substantially over the course of the delegation.
Don't forget to be grateful for being a Steemit user and those who make it possible for us to earn these rewards. The team behind the development of Steemit and members of the community have a big role to play in the platforms success.
I hope you found the post useful and will take action by making use of the high value of SBD.
Would you please UPVOTE and RESTEEM this post so that it can reach others too? Also do FOLLOW me for more useful and interesting posts.
A Few Of My Previous Posts You Will Enjoy Reading!
STEEMIT vs Blogger vs Own Domain Website | Which Is BETTER?
Water Fasting - A Day WITHOUT Food