First off I am relearning the crypto-currency world lately. I first started mining in late 2013 when Bitcoin was on the rise. If I remember correctly, it was valued at just under $200. I didn't have the best hardware, but I made a decent profit. I sold when it was valued at just over $800 in early 2014. After the price went down and my graphics cards were worn out I got out of the loop and gave up mining.
Now here we are in 2017 and I wish I had held onto those Bitcoins, but oh well, there are plenty other currencies that could do very well now that I can still afford. That brings me to Steem and the potential that I see in it. At the time of this post it is valued at $1.71 but just a week or so ago it was hanging around at $2.30. It took a small dive along with everything else, so I'm not worried as everything else is bouncing back and so is Steem. In fact I have been investing in it along with Litecoin as much as I can afford.
The difference is, with a small investment you can mine Ethereum or Litecoin 24/7 and not give it a second thought. That is not the case with Steem, which you have to earn by posting or commenting here on Steemit.....or do you?
I have not found a way to actually mine Steem with hardware like you would Litecoin, Bitcoin or Ethereum, but it can be done with cloud mining. I have been using this site called EOBOT to gain a few extra Steem and you don't have to spend a penny to do it.
If you sign up for an account, EOBOT will give you 1 Dogecoin every day just for signing in. They also have a faucet, but make sure whatever currency you want the faucet to payout to is the currency you are set to mine. It should be surrounded by a blue box like in the picture below.
The strategy I've been using is to use the 1 free Dogecoin and whatever I receive from the faucet each day and exchanging it for 24 hours worth of SHA-256 cloud mining. From the picture you can see I tried it out on Bitcoin and Ethereum even on Litecoin long enough to withdraw it to my wallet. I have found that it is more productive to use on a less difficult currency though, so I now use it on Steem. You have to earn 10 Steem before you can withdraw it, but that shouldn't take long and hey it's free.
Obviously the potential to earn Steem is much greater right here on Steemit, but if you want to get a little extra to hold onto and invest in the community, then this is yet another way to do so. The more we invest, the better it will do!
Give this an upvote if you'd like updates on my progress with this strategy
