The price of the steem dollar (SBD) has skyrocketed in recent weeks to an incredible 14 for each SBD, bringing much excitement among the authors of steemit, but at the same time generating some anxiety and confusion by not knowing how to get the most out of it. to this impressive climb.
The reasons that led to this rise are uncertain, the hypothesis indicate that many users seek shelter in the SBD due to the fear that generated the hacking of the USDT, others think that it is simple speculation and arbitrage between exchanges, coupled with a low volume of circulation and rapid transfers. The truth is that our actions would be more accurate if we knew with certainty that it is what has raised the price of the SBD so high, we could try to predict if this price will remain, if it will continue to rise, or if it will return to normal.
So the recommendations that I will give below are based on simple speculation, there is always some risk and I will not be responsible if something goes wrong. Maybe many are tempted to spend all this extra money they are getting and give themselves a good Christmas present, but I think the best strategy is to save and diversify.
•Action Plan 1:
This is the most accepted action plan among the steemit expert users, simply change your SBD to steem in the internal market of steemit.com, and do POWER UP, at this rate you would be receiving much more steem power than you normally receive , multiplying your power of influence and your voting power. When it would normally take you maybe 1 year to accumulate 1000 SP, with this boost you could do it in a week, maybe you do not have another opportunity to increase your steem power so fast. Also, in the same way you would be accumulating steem that will eventually go up in price, and your publications will have better rewards by having more steem power.
•Action Plan 2:
This is what I am doing, I am saving the SBD in bittrex, and placing sales orders above the current price. This is because SBDs tend to have sporadic and very fast impressive pumps, by doing this I try to sell SBDs at the highest possible price and maximize my profits, which I can then diversify into other altcoins and buy steem to power up. For example, the current price in bittrex is 12 $ (approximately 0.00072 BTC) but I placed a sales order at 0.0010 BTC which would leave me a maximum profit at a certain moment. Of course, this is risky because I do not know if the price of the SBD at any time can begin to correct and fall, but judging by the current situation and the possible causes of the rise, I think that the behavior of the last days could last some more time.
•Action Plan 3:
Make arbitrage, the price of the SBD is highly volatile and very different between different exchanges, so in some Exchange you could buy it at 7 dollars (in bitcoin) and then sell it at 12 $ in bittrex, leaving you a high profit. It can also be used to transfer money quickly between exchanges and take advantage of the volatility of other cryptocurrencies, especially bitcoin. This action plan is only for very expert people, not recommended for regular users, I myself do not dare to play arbitration in that way.
For the moment bittrex is the best platform to change SBD, unfortunately neither Poloniex nor HitBtc are operating correctly.
Anyway, the final recommendation is: Generate your best content NOW! ... It's just time to give your best in steemit, every "steem dollar" earned by ten, we must take advantage of publishing as much as we can , to comment and grow in the network at this emblematic moment, do not waste the opportunity! ... And above all, do not waste the money earned, I understand that it is attractive to try to spend it, but invest it in the best possible way, the market for cryptocurrencies is just beginning to grow and in a couple of months we will see an impressive explosion, by then we will regret every crypto we have spent today ...