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Can't really comment on the other side without tying it. Some strops have a 'Sharpen' side & a 'Finish side'. As long as it's not abrasive coated it shouldn't hurt to try a few licks on the other...

Usually stamped or otherwise marked as 'Finish' at top or bottom.

Too simple, get a flat piece of timber, the size you want and glue some leather to it.
My one proves they don't have to be pretty

If the leather no longer works my touch up preference is a polishing hone followed my minimal light strokes on a CrO pasted paddle & then same with jewellers rouge on a paddle.

I'd save my...