Few weeks ago, a friend of mine introduced me to STEEMIT but due to my busy schedule and his, it has not been easy for him put me through the nitty gritties of this wonderful platform. So I had to do some research on my own to understand how the system works.
After some research, I came to realize that there’s a truckload of information to learn about Steemit but the tough part is that most of the articles about this platform are always cumbersome, sometimes confusing and cannot be easily understood at the first glance by Newbies like me unless after proper perusal.
In the light of this and based on the knowledge I have about Steemit, I decided to prepare in a very few words, a short and simple explanation of what this platform is all about to serve as easy introduction to Newbies on this platform.
What is Steemit?
Steemit is social media platform that allows its users to create and publish original contents of their choice.
How Steemit Works
On successfully creating an account on Steemit, the user automatically owns blog on which user can create and publish contents on any topic of their choice or sharing photos and videos that is their original content.
Other users that read the published content can upvote (similar to liking a post on Facebook) and post their comments on the blog post.
Earning on Steemit
Steemit pays all its users for participating on Steemit one way or another. This implies that Steemit pays users for the following
- Creating and publishing on User’s Steemit blog
- Curating posts
- Upvoting Posts
- Commenting on posts
- Replying comments
What Steemit Pays
On daily basis, Steemit developers are creating tons of DIGITAL CURRENCY (STEEMIT Dollars & Steem) which they distribute among their users.
What Users Earn on Steemit
There are three Currency Units, on the steemit platform and they are as follows
Steem: This is a digital currency just that can be are traded for actual money (cash). Steem can also be used to buy another crypto-currency.
Steem Power: Steem power determines the real amount of power you want to give in your upvote. The more the power is allocated, the more is the earning through upvote.
Steem power cannot be sold but can be transferred from steem power to steem which can be sold.
Steem Dollar: Steem Dollars are the units that are earned by user content when user posts a content. The user’s actual earnings on posts is 50% while the rest is share between user’s steem power and curators.
I hope this article helps our Newest members of the Steemit Family.
Photo Credit: Steemit.com