Since I only started working on the platform last month, and I am still on a voyage of discovery, I thought that maybe I could help others find their place at SteemIt.
So in the future I will post a number of manuals that you can use to discover how SteemIt works and how you can earn money with it.
Assignment 1: Reading articles
Steemit uses 3 different currency units: Steem, Steem Power and Steem Dollar.
Steemit rushes through the social media landscape like a true whirlwind. People earn thousands of dollars in a day by writing 1 single post. It may sound unbelievable, but this is the reality. No wonder Steemit has gained popularity at an unprecedented rate.
You are probably also interested yourself in taking part in Steemit but you do not know how it all works. The operation of Steemit is indeed not that simple. But I will do my very best to reveal all Steemit secrets so that you can get started right away. I will also make an effort to explain only the essentials.
What is Steemit?
The Steemit platform is built on top of a new digital currency. Every day a new amount of this new digital currency is generated. This is then distributed among the users of the network. Users can then choose whether they reinvest this reward in the network in the expectation of getting it back in the long term, or they can immediately convert it into real money.
The great thing about Steemit is that it costs you nothing to step in. Everyone can create an account for free and immediately start generating messages that can earn money. This may sound too good to be true, but it is true. I also had my doubts in the beginning but since I created an account last month, I have actually earned money.
How does Steemit work?
As already mentioned, every day a new quantity is created for the new digital currency and this is distributed among the users who add value to the network. The more value someone adds, the more he or she is rewarded. Users who post valuable messages are rewarded. Users who review posts are rewarded. Even users who respond to messages and in this way give rise to interesting discussions are rewarded.
In Steemit there are 3 currency units that each user will have to deal with: Steem, Steem Power and Steem Dollar.
Steem:
Steal units that can be bought and sold on the market. These can be traded on the market just as shares are traded on the market. A user who wishes to increase his exposure to the Steemit platform by investing more in it will first have to buy Steem. A user who wants to get his money from the platform will only be able to do this by converting his earnings into Steem.
It is not the intention to hold Steem over a long period of time. Sticking over a long term is not profitable because Steem loses some of its value due to inflation on a daily basis. Use Steem only to step in or out of the Steemit platform.
Steem Power:
Steem Power is a unit that allows a user to invest in the platform in the long term. It is not possible for the user to immediately convert Steem Power to real money. Steem Power can only be converted to Steem over a period of 2 years via 104 equal weekly payments. This feature was introduced to suppress major price changes and volatility in the market.
Owning Steem Power is important for every user who wants to earn more money in the long term. The more Steem Power a person owns, the greater his investment in the company, which also gives him a bigger reward as the platform grows and gains popularity. In addition, a user with more Steem Power will also be rewarded more when posting and reviewing messages. Also note that every time a user is rewarded for an action, half of this reward will be paid in Steem Power.
Steem Dollar:
The Steem Dollar is a currency that retains its value. It was designed as a stable currency that can be sold at any time. When you are rewarded for a message, half of your reward will be paid in this unit. A user is also rewarded with 10% interest for holding his Steem Dollars.
It is therefore important that you save for the time being. because it is important that we have a potty left. You now have all the knowledge you need to start with Steemit. I wish you good luck but also a lot of fun !!!