To start with, signing up on Steemit is free.
What is Steemit?
Basically, there are two opportunities for you to make money with Steemit.
First is by Blogging or Posting. Here, you have to share your original and unique posts. When other members up-vote your post, you receive a payout. The number of upvotes determines your payout. Depending on the number of upvotes you get, you can receive 75% of the total payout.
Second, is by Curating or Voting. Steemit pays you for upvoting a post before it goes viral. You are entitled to a curation payout when you upvote a post. The reward amount can be up to 25%. However, it also depends on the amount you have vested, known as Steem Power.
Steemit also allows for currency mining. However, it’s not the primary way to earn money. Each day, new Steemit currency units are created and distributed to the users who engage with the site. Steemit comes with a simple philosophy, “the more you engage, the more you have.”
Steemit rewards users for their content. People who upvote content on Steemit are also awarded for curating the best content available on the site. Even Commenters are paid for adding to the discussions.
They offer Steem, Steem Power, and Steem Dollars.
We will explain each one of them.
Steem:
It is the most liquid type of currency available on the Steemit platform. These currency units can be bought or sold for actual money on the open markets. They can be traded like bitcoins or a company’s stock. They can be converted into Steem Power, Steem Dollars, or if you want, they can be traded for real cash on crypto exchanges.
However, you should not hold these for too long as more Steem Units are created each single day. If they are held for a long time, they become diluted and go on to lose value.
Steem Power:
Steem Power Units provides you the opportunity to have ownership in the network. With Steem Power Units, you make a long term investment in the currency as these units cannot be sold for two years. As the network grows, so does your chances of making more money in the long run.
As much as 90% of the new Steem Currency that is generated each day is distributed to those who hold Steem Power Units. Moreover, half of the pay you receive for your content comes in the form of Steem Power Units. It determines the amount of influence a user can have on Steemit.
Steem Dollars:
The third and final form of currency on Steemit is Steem Dollars. It never gets diluted or goes on to lose its value. They are a stable currency which can be sold at any time.
It is a market-powered token which is pegged to $1 USD. People use them for upvoting posts on Steemit. 1 Steem Dollar represents any amount of Steem for reaching $1 USD.
Moreover, when you create popular content, as much as 50% of your pay will be in Steem Dollars. And you get richly rewarded for holding Steem Dollars. Holding Steem Dollars pays 10% interest.
However, Steem Dollars cannot be used outside the Steemit platform. You require converting Steem Dollars into Steem and only then you can convert that Steem into Bitcoin or USD.
Options Before you when you Earn Steem Dollars
When your created content earns money, you get 50% in the form of Steem Dollar Units which can be exchanged for actual money or else you can convert into Steem Power. The remaining 50% is paid in Steem Power. These Steem Power Units are locked for two years.
Firstly, you need to set your account. You can use your Facebook account or Reddit account. Be sure to set up a secure password.
For publishing content, you need to click on “Submit a Story” at the top right of the screen. You should format your articles so that it becomes easy to read. You can use images, headings, and sub-headings for breaking long blocks of texts.
You should give enough time on formatting your articles so that they are pleasant to read. Plus, you should make sure that the content you submit on Steemit should be valuable, interesting, and entertaining for your readers.
Steemit is 100% free to join.
Moreover, you get paid for your work.
It is a perfect platform for writers, bloggers, and anyone who wants to earn money online .
What is Steemit?
Basically, there are two opportunities for you to make money with Steemit.
First is by Blogging or Posting. Here, you have to share your original and unique posts. When other members up-vote your post, you receive a payout. The number of upvotes determines your payout. Depending on the number of upvotes you get, you can receive 75% of the total payout.
Steemit also allows for currency mining. However, it’s not the primary way to earn money. Each day, new Steemit currency units are created and distributed to the users who engage with the site. Steemit comes with a simple philosophy, “the more you engage, the more you have.”
Steemit rewards users for their content. People who upvote content on Steemit are also awarded for curating the best content available on the site. Even Commenters are paid for adding to the discussions.
The Steemit Currency Units
Steemit provides three different kinds of currency units.They offer Steem, Steem Power, and Steem Dollars.
We will explain each one of them.
Steem:
It is the most liquid type of currency available on the Steemit platform. These currency units can be bought or sold for actual money on the open markets. They can be traded like bitcoins or a company’s stock. They can be converted into Steem Power, Steem Dollars, or if you want, they can be traded for real cash on crypto exchanges.
However, you should not hold these for too long as more Steem Units are created each single day. If they are held for a long time, they become diluted and go on to lose value.
Steem Power:
Steem Power Units provides you the opportunity to have ownership in the network. With Steem Power Units, you make a long term investment in the currency as these units cannot be sold for two years. As the network grows, so does your chances of making more money in the long run.
As much as 90% of the new Steem Currency that is generated each day is distributed to those who hold Steem Power Units. Moreover, half of the pay you receive for your content comes in the form of Steem Power Units. It determines the amount of influence a user can have on Steemit.
Steem Dollars:
The third and final form of currency on Steemit is Steem Dollars. It never gets diluted or goes on to lose its value. They are a stable currency which can be sold at any time.
It is a market-powered token which is pegged to $1 USD. People use them for upvoting posts on Steemit. 1 Steem Dollar represents any amount of Steem for reaching $1 USD.
Moreover, when you create popular content, as much as 50% of your pay will be in Steem Dollars. And you get richly rewarded for holding Steem Dollars. Holding Steem Dollars pays 10% interest.
However, Steem Dollars cannot be used outside the Steemit platform. You require converting Steem Dollars into Steem and only then you can convert that Steem into Bitcoin or USD.
Options Before you when you Earn Steem Dollars
- Steem Dollars can be converted to Steem and can be sold immediately on the open market for real money. So, Steem Dollars give you the opportunity to cash out.
- Holding Steem Dollars pays you 10% interest.
- Steem Dollars can be exchanged for Steem Power and thereby get an opportunity to invest in the future of the currency.
How is The Newly Created Steem Distributed?
Each day, as much as 90% of the new Steem Units are rewarded to users who have Steem Power Units. Rest 10% of the new Steem Units is paid to content creators, curators, and commenters.When your created content earns money, you get 50% in the form of Steem Dollar Units which can be exchanged for actual money or else you can convert into Steem Power. The remaining 50% is paid in Steem Power. These Steem Power Units are locked for two years.
Getting Started with Steemit
You should give enough time on formatting your articles so that they are pleasant to read. Plus, you should make sure that the content you submit on Steemit should be valuable, interesting, and entertaining for your readers.
Steemit is 100% free to join.
Moreover, you get paid for your work.
It is a perfect platform for writers, bloggers, and anyone who wants to earn money online .
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