I only recently got into the cryptocurrency world. It has been an interesting experience and with Steem being my first investment, I couldn't help but worry when I was watching many of the other coins surge and Steem remained stagnant. Today all of my worries were alleviated. While I 100% believed that this day was coming, I did not expect it to come so soon. Today Steem has more than doubled in price to over $6 at the time of posting. I only hope that our community can continue to experience incredible success and become a mainstream platform along with the likes of reddit, tumblr, and facebook.
I have little experience in evaluating investments and the potential earning of them. I do like to research what I am involved and The Motley Fool had this to say about steem and why new investors should choose it instead of Bitcoin.
Steem Dollars
Last, but not least, if you want something really off the cuff, consider Steem Dollars. Steem Dollars are one of three virtual coins attached to the Steemit social network, which rewards content creators when their work gets upvoted, as well as those folks who do the upvoting of others' work.Steem Dollars aren't something you can buy on any cryptocurrency exchange. In fact, they can't be traded on any of them. You first have to create popular content on Steemit, and are then rewarded with 50% of your "pay" being in Steem Dollars. What's really neat about Steem Dollars is that they're theoretically pegged to the U.S. dollar to somewhat reduce downside volatility -- but they earn a handsome 10% interest rate per year. Are you earning a 10% interest rate right now on your cash? Probably not! At any time, you can choose to convert your Steem Dollars to >Steem, and then cash out those Steem coins for actual U.S. dollars.
To me this just screams for an increase in community. Not only do people love interacting with others, but why pass up the opportunity to make a few bucks in the process. It just seems like a rational decision. That being said, I do have a few concerns about steemit. It can be very difficult for new members to establish themselves in the community, something that I am experiencing right now. I know that I just need to continue to put out quality content but that can be taxing in an increasingly busy world. If anyone reading this has advice for a someone looking to create a new blog or other internet content please drop a comment, I would love to hear what you have to say. I hope that everyone has had a wonderful new years and that 2018 brings joy and prosperity to all. Thank you.