As new sites pay in crypto it is very important that people are buying the coin for this ecosystem to work. This might seem like a challenge to have people buy something that is being given away on a website but there are a LOT of ways to make a coin not only valuable but even more valuable than fiat currency. The reason is that cryptocurrency, unlike traditional forms of currency, can have perks and benefits just for holding it. And if we utilise these properly we can really add value to the coin. There is also other means like buybacks where non-crypto money buys the coin. This can be followed by a coin burn (a process that takes the coin out of circulation) which can lead to an increase in the price as it lowers the total supply.

As many faults as steemit has one of the things they did get right was reasons to buy the coin. There is a lot of utility to the steem coin: it gets you voting power, you can delegate it, you get a 2% return and you can use it in other apps. The problem is, because of how the coin works, it lead to a decline in quality. Sure it is great to buy votes but then it takes away from the quality of posts. That is something we need to avoid here.

Below is a list of ideas in how to improve the value of the coin by adding utility. Please add yours in the comments or links to any posts about the topic. Maybe we can make this post a go-to for the subject.

Reasons To Buy 

• To promote a post (we need to be careful about this as we will have the steemit problem)
• Similar to games like Fortnite, we can add aesthetics to our site. Maybe you can buy borders for your posts or fancy avatars for your profile.
• We can add tools to use that can only be bought with your coin.
• Get a post in front of editors first.
• A marketplace.
• You can buy a signature card that you can put in the bottom of your posts.
• Tipping
• Paying for access to blocked content
• Premium services

Reasons To Hold

Staking is the main one.

Buybacks

Suggestions for buybacks mean suggestions for outside non-crypto revenue. This can be things like ads and subscriptions. If we get a constant flow of income that is being spent on your coin on it will add a steady buy pressure of the coin. We do not want to manipulate anything (and your team has to make sure to do legal research) but a monthly buyback would help a lot in the price.

Partnerships

You can partner with other dapps and have your coin by used there as well. For example it could be currency in a game or be used in a blockchain market. The more ways to use the coin better.

Exchanges

We need to get the coin on as many exchanges as we can. The more the better. The goal should be big ones like Binance and Coinbase but medium to small ones will help. We can also run trading competitions (Kucoin does them) to bring attention to the coin and the market.

These are some of the things we can do to add utility and value to our coin but the list doesn’t stop there. Use your imagination, with crypto you can literally add any perk to hold a coin and you can use a coin in anyway money can.