Minnow University // Your Wallet Explained // Part 1 // Balances
On the right side of the main bar on your steemit page you will see a tab called "Wallet".
When you click on "Wallet" you will see 3 tabs:
- balances
- permissions
- passwords
There is also a large hi-lighted button right underneath the Wallet tab that says "Buy Steem or Steem Power"
Today we will be discussing the Balance Tab.
Under the balance tab you will see the following:
Buy Steem or Steem Power:
This takes you to the Blocktrades exchange where you can purchase Steem or SBD with cryptocurrency or exchange them for other cryptocurrencies.
You can also now lease SP Delegation. (We will explain this more later)
Steem:
Steem is a liquid currency that can be bought, sold, or powered up as explained in my previous post (link)
Steem Power (aka SP):
This is your powered up steem that results in your voting power. The higher your voting power, the more your vote is worth and the bigger your curation rewards.
Steem Power is not liquid and must be “powered down” over a span of 3 months to turn it into Steem.
Steem Dollars (aka SBD):
This is a secondary liquid currency that can be bought or sold. It is pegged to the US dollar.
Many steemit service like voting bots require the use of SBD.
Your post rewards are either paid out with full Steem power or a 50/50 split between Steem Power and SBD.
When you make a steemit post you can choose which option you would like.
You can also choose not to accept any rewards at all.
Savings:
This is used when interest rates are in effect allowing you to increase any Steem or SBD you may choose to put in here.
Interest rates are set off of the top 20 witnesses, the current interest rate is only 0.01%.
Estimated Account Value:
This indicates the value of your Steem, Steem Power, and SBD combined. (In US dollars)
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