Hello everyone today I want to discuss what is steem, steempower and SBD.
Steem is a token which can be purchased and sold in cryptocurrency exchanges.
This token can be converted to SBD and SP.
SP = Steem power and it is a measure of your voting power. The steempower of your account determines the value of your upvote.
When there is an increase in steempower of your account the monetary value of your upvote increases. Giving a higher value upvote you entitles you to a bigger curation reward. When you start posting as a new steemit user your upvote would give 0.001$ to the writer of the post and when your SP increases to 1000. you begin to give 0.10-0.2$ per upvote. Correspondingly the value of the curation reward received by you goes up.
As a upvote made by you earns you a curation reward.
Now let us move to SBD.
SBD is the steem dollar which can be sold in market exchange.At the time of writing this post the value of 1SBD = 0.9$. Its value more or less stays in the vicinity of $1.
SBD is usually used in steemit for transaction, for contests and for prizes.
By default we receive 50% of post reward in SBD which we can cashout in a cryptoexchange. Thus it is like a liquid currency. However we cannot cash out Steempower.
We can only convert it and it takes 90 days to convert. And after conversion we receive Steem.
How to increase SBD, Steempower and steem?
I) The easiest method is to buy Steem in a cryptoexchange and use it :)
II) Work and post everyday and make connections in steemit. In this method you receive rewards from post and your comments.The proportion of reward will be 50% to steempower and 50% to SBD. Every penny count so even if you receive cents at first you would notice after month you would have accumulated dollars. As long as you keep repeating this process the rewards would keep accumulating. so keep working hard ;)