I have just bought some steem power with my BTC and SBDs using BlockTrades as evidenced in my transaction history. In time like this when prices are low it’s very good to buy some steem and power up. I believe Steem is and will always grow in value time to time.
For newbies: Steem power refers to shares/vests that one possesses on Steemit and these are stored/located in the Steemit account wallet whereas steem is liquid cryptocurrency that can be exchanged for other crypto or even cash out into fiat money over the internet. There are various options one can use to acquire steem power. Some buy steem from block trades/bittrex then power up, others can opt to buy steem from the Steemit market where you exchange your SBDs for steem then after words power up.
Steem power is the life blood that sustains the Steemit ecosystem. Buying some steem and powering up is something very fundamental, and that which can ensure the continuous and long term operation of Steemit. The absence of steem means the absence of money to reward productive steemians on the Steemit platform.
Many people tend to be locked up on only one rewarding side of Steemit and that is Blogging but there is also earning through curation when you participate in upvoting good content on the Steemit platform and this is dependent on how much steem power you are holding.
when you invest in Steemit, it in turn invests in you.
Powering up steem is something that is very beneficial as follows:
- Influence
It sky rockets your influence on the platform that is through improving your vote value. I have been around on this platform for now a period of 4 months and I have witnessed and gained some great understanding of the benefit that lies in carrying a huge amount of steem power. Many with huge sums of steem power currently had a starting point as well where there steem power was little but they made a wise decision to invest in steem and power up in due course of their journey. Such a person who accumulates steem power becomes a very known/ influential person on the Steemit platform in the process.
- Interest/reward
It’s an investment that is very rewarding as time goes by. On Steemit, you don’t just earn from blogging but also on curation. The amount of curation depends on how much stake of steem power you hold or possess in your account.
- Trust
Powering up builds you trust from the steem Community due to the fact that it show cases the faith and boldness you have for the Steemit platform. When you invest in steem power it shows how much you believe in Steemit and its great initiative.
- Supporting the newbies and the steem projects
Many newbies are joining this platform and they need a great lot of support from us who have been around for quite some time. They tend to get discouraged when there is no one to upvote/support their content they create. It’s a very great thing to spare some of your hard earned SBDs and monies from other sources to make an investment in Steem power for the great purpose of supporting great Steemit projects and the newbies. People with a high steem power can solve some one’s problem in just a little time which is something great and of great impact to the lives of many.
- Visibility
The more steem power you have is the more visibility you can possess on your content. On Steemit Its okay for one to upvote his or her own good posts though it’s better to also upvote others. Steem power gives a boost to your own content in order for the rest of the steem community to view it.
Increases the Value of your vote
Powering up your steem enables the value of your vote to increase which in turn enables you to earn more on curation.
In a nut shell, Steem is one of the most undervalued coins on the coin market cap. I feel it deserves the best ranking from the rest of the coins because of its great and productive blockchain system termed “Steemit” that it operates on. Steemit is impacting many lives of people across the globe.
Cryptocurrency is a risky venture, Invest money that you can afford to lose. Please endeavour to make more research and more study about such a phenomenon before taking the step to invest in it.
If you find this helpful and productive to the community please consider to support my works.
Delegation of steem power
With steem power you can delegate some steem power in opening up new Steemit accounts for other people or even yourself. Delegating steem power also has some great benefits as you can earn compounding interest on your steem power.
You can as well check out my other posts below:
- #day3 Steemit presentations to university students in their classrooms.
- Promoted Steemit at the Africa Blockchain conference. Got a promising opportunity to travel to Botswana to promote steemit in a youth summit.
- Day 2 Making Steemit Presentations in the different student’s classrooms. Enlightened many students about crypto.
- Made a Steemit Presentation in a classroom
Thank you so much for reading and supporting. I wish you all the best.
Stay tuned for more!