Social media has become a very powerful tool in today's digital economy. We have seen many centralized social media platforms like Facebook, Twitter, LinkedIn and many others make a massive following online through which people can network with various individuals from across the world.
However....... DO ANY OF THEM PAY their users for sharing content on their platform ? The answer is a SIMPLE NO. As simple as it may sound, here is where the decentralized blockchain based social media platform Steemit comes into the picture.
Steemit is not just a social media platform.. but is AN ENTIRE ECOSYSTEM with a variety of products which has the potential to easily surpass even the likes of corporate giants like Facebook in the future. Not only that, but Steemit reward their users for being active on its platform and sharing content in the form of blogs/articles.
They also have a number of tools and mechanisms for the reward structure which is VERY interesting to learn about like the Steem power, Steem dollars, 50/50 system, 100% power up system and so on. A very innovative platform through which people can advertise quality stuff and not only gain a good following of people online, but also earn rewards in the form of curation rewards and author rewards at the same time in the form of Steem power and Steem Dollars. STEEM cryptocurrency respectively.
There are also tracking tools through which one can keep a track on how one is getting paid and also check the exact mechanism of the payout and ranking structure especially when it comes to Steem power and Steem Dollars.
Many have also expressed the doubts of how to get their payouts from the Steemit platform and how much exactly does one get paid from the upvotes.
The amount one can get paid from the upvote depends on the quality of the upvoter.. and the amount the upvoter is eligible to pay you by his/her upvoting depends on the Steem power that person has managed to accumulate. Holding more Steem power has a lot of added advantages apart from having the power to give more value by your upvoting. One also earns more curation rewards in the form of Steem power which can then later on in the future be powered down and converted for obtaining STEEM. It is ALWAYS WISE TO THINK LONG TERM AND ACCUMULATE STEEM POWER.
Benefits of Accumulating STEEM Power:
As you increase your STEEM Power the minute by minute compounding makes your Steem Power grow even faster. You gotta love the power of compounding! REGULAR FINANCAL GROWTH - All the Steem you will power up, will GROW through the regular interest, applied by the system AUTOMATICALLY, 24 hours a day, 7 days a week 365 1/4th day a year.
WHATEVER AMOUNT YOU ARE HOLDING IN STEEM POWER WILL BE MORE THAN DOUBLE EVERY 104 DAYS.
Provided you are not powering down in that period, which will of course affect the numbers.
May I remind you that YOUR STEEM POWER will grow like this EVEN IF NO ONE UPVOTES ANYTHING YOU DO ON STEEMIT!
But we all know that NO ONE EVER VOTING for everything you do in STEEMIT will never happen. :)
The STEEM White Paper states that individuals are guaranteed to have more STEEM in the future than they have when they first convert from STEEM to STEEM Power.
The other benefit of increasing your STEEM Power is that it gives your votes more weight.
If those FACTS are not enough reasons for you to POWER UP your Steem. I don't know what will.
CURATION ADDITIONAL REWARDS- When you hold STEEM POWER, the rewards that you share to posts that you upvote also rises, your share of the reward also rises. You help more and you get more.
YOUR STEEM VALUE PROTECTION - When you hold Steem, it's QUANTITY remains that way, even if Steem price on the exchange market SKYROCKETS because STEEMIT became as popular (or way more popular) than your usual social network, you will ONLY have the same amount of STEEM. Thats it. Sell them and you're OUT.
It is said that STEEM Power is the heart of the STEEM system. The benefits of accumulating Steem Power are truly powerful.