Do you have $5 sitting in your wallet, doing nothing ? It could be used to 'power up' your steemit account, if you so desire.
After HF 19, you would have realized that earnings in steemit is according to the stakes (vests) that you have in the community. So, I just added 3.8 steem power (SP) to my steemit wallet by sending 0.03 DASH ($5.9) through blocktrades.
What Is Steem Power ?
According to the steemit whitepaper (page 8), steem power (SP) is one of the 3 different classes of assets in the steemit network . Besisdes, steem power (SP) are influence tokens.
Why Is Steem Power Important?
The more steem power (SP) you have, the more your influence in the steemit ecosystem. For instance, if you have about 500 SP, that makes you a minnow. Those who have about 5000 SP and 10 million vests are steemit dolphins. The more steem power you have, the more your author and curation rewards. In case you are one of those wondering why some Steemians earn more than you do. One main reason is because they have a lot more influence, steem power and vest wise, than you do in the community. So, up your game! Accumulate more SP either by earning from author and curation reward or by buying. I do both.
How to get $5 worth of Steem Power
It might sound too good to be true, but I just got $5.9 worth (0.03 DASH) of steem power. Here is how to achieve that.
Go to the steem power section on the right hand side of your steemit page and click on ''steem''. Two options will show up; power down and buy. Click on the ''buy'' option as shown in the above screen shot. That command will take you to blocktrades, the internal exchange of steemit.
When you get you blocktrades, enter the amount of DASH or any other cryptocurrency you would like to exchange for steem power (SP) in the ''send'' field as seen in the image above. The ''receive'' field will show you an equivalent amount of SP that you will receive on completion of your transaction. Next enter ''receive address'' in the field provided. This should correspond to your steemit user name, in my case it is 'maryfavour'. Note: Please, enter your own user name and not mine. If you mistakenly enter my username, your steem power will 'power up' my steemit account. Guess that would be quite interesting! The last step in blocktrades is for you to generate a DASH address by clicking on the button ''get a new deposit address'' . As soon as you click on that blue button, a DASH address will be generated like the one observed in the screen shot above. Next, copy the DASH address, go to your DASH wallet (online e.g exodus, jaxx, or hardware wallet such as trezor/ledger Nano S). Personally, I use exodus wallet (version 1.28.2).
First click on the blue ''send'' button in your DASH wallet and the command will make the dialog box shown above to appear. Enter the DASH address you copied from ''blocktrades'' in the ''send to'' address field, the amount of DASH in the ''amount'' field and hit the send button. Click ok and wait for a few minutes for the transaction to be complete.
You will receive equivalent SP from blocktrades as shown in the screen shot above. The transaction I performed exchanging 0.03 DASH ($5.9) for SP got me 3.802 steem power.
Happy 'Powering Up'!
Your friend,
Mary.
