Steemit is a social media based service. Which runs blogs and social media post onto a block chain database, known as steem. It is 100% free to use,and is addicting as any other social media site. On steemit you can earn 3 different kinds cryptocurrencies much like bitcoin.
There are 3 different kinds of currency you can earn on steemit. Steem, steempower, and steemdollar. All three are tradeble within the the database, 2 of them are exchangeable outside the data base. You obtain these tokens for posting posts, discovering content, and commenting on post or comments
Steem- the steem token is the network's base token. It is traded on multiple cryptocurrency exchages and markets. Its market value determines the value of the pool of rewards paid by steem. Its value also back the value of steemdollars(sbd).
Steempower (sp) represent the amount of influence an account has. The more sp an account has, the higher the influence its votes has on post and comments.users and investors also have the option of converting steem into steempower called powering up, or doing the oppisite called powering down.
Steemdollar (sbd) is an asset intended to be tied to the us dollar, and can be traded at cryptocurrency exchanges, or used for goods and services
The best Strategy for new user who don't plan on investing money into the system, is to use all the steem to power up to gain influence. Of course at first you won't be making any money, but you will be gaining influence to obtain a larger amount of money down the road. When you build up you influence enough, each time you up vote something the poster will recieve an amount money based on how much steempower you have. So the more steempower you have the more people will want to follow you, and upvote your post.
