One of the biggest benefits of using Steemit is obviously the potential of earning something from our content. Posts on any other social media platform would basically have zero potential of earning any cash, save perhaps Youtube.
Earning something from simply sharing our creative mind is a beautiful, somewhat revolutionary idea. Though it's certainly not perfect and has a long way to go to becoming accessible to the masses, it's still incredible to earn anything at all from an activity that was otherwise considered a hobby or a timewaster.
I'm certainly nowhere near close to being able to become a full-time Steemian and I'm not sure I'll ever be there. Being selected to become a part of @tribesteemup has been huge for my earnings potential, as it's nice to know I have a decent payout waiting for me at least once per day.
But once I redeem my rewards, I am often left to ponder the question that I'm sure varies for each individual on the platform. And that question is...
What do you do with your Steemit earnings?
Payouts obviously come in the form of Steem Power and SBD, unless you decided to go with the 100% SP option with your payout (which isn't recommended unless SBD is below $1). Generally speaking, I never power down any of my SP. In fact, I've only powered down once in all of my time on Steemit, as a way to give myself some liquidity in the event of a Steem pump.
SBD is another story, however. Depending on the price of the Steem Dollar, I'll generally cash out into fiat at some point using blocktrades to send some Bitcoin Cash into my coinbase wallet, and then selling into fiat from there.
During a slow work period this winter and a time where SBD was over $7, one particular post paid out about $170, which was a huge for me at that point in time. I've experimented with using Bitpay's Bitcoin Cash wallet to transfer my SBD earnings directly onto a prepaid debit card, though I haven't gone through with it yet. Frankly, I've been mostly unimpressed with Bitpay and wouldn't recommend it to anyone who was thinking about using the service.
Pondering reinvestment options
Recently, I've been thinking that I'll utilize all of my SBD earnings to reinvest into other cryptos instead of cashing out into fiat. I don't make a ton at my job currently, but it's more than enough to cover my expenses as well as save for a rainy day.
The prospect of buying more crypto with fiat is a luxury I mostly don't afford myself, so I've been thinking I'll probably utilize SBD earnings strictly for my crypto investing. Unfortunately, I didn't buy into EOS early on, but it's always a project I've thought had legs. It appears I can't buy any on exchanges currently, but once it's available again I'll look to buy some.
If an EOS social media site launches, I'd like to have some coin to stake into the site. Also, as much as I love Steemit, I'm well aware of the many problems that exist here and see an EOS investment as a hedge against this place becoming the crypto Myspace.
Generally, I don't have a set strategy for what I do with my earnings, but I'm thinking I'll start sending my SBD to Bittrex, at least to allow for some sell orders to be placed in the event I want to cash out and also to be able to buy more crypto.
What do you typically do with your Steemit payouts?
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