Can Somebody with some experience help a newb

I have some interest in crypto currencies although I have never partook in them, but i now want to learn a bit more about the steem currency that we earn on this platform. From my understanding if people upvote our post then we earn steem dollars, but what can you actually do with this money? Can you easily buy american dollars with steem dollars? Can you buy stuff directly with the steem currency? How do you convert steem dollars into other currencies or physical goods? Is the money automatically deposited into a steem account? Do i have to create a steem wallet?
Any help is apprieciated
Thank you

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