WHAT IS STEEMIT?
STEEMIT is a social networking website that is very similar to Reddit i.e. its functioning is a lot like Reddit.Although STEEMIT is consider as look alike of Reddit,there is still one huge difference between them i.e. STEEMIT offers money to both the content creaters who get their content upvoted by other users of steemit and those who upvote the content.Now you will be thinking how is this possible? This is possible because Steemit works on special currency called steem now this will not be surprising for you if you have used e-currency such as Bitcoin,Ethereum,Zcash or any others.
WHATS IN IT FOR YOU?
Well i would say everything in it is for you,as i mentioned earlier steemit unlike Reddit or any other network,pays both the content creaters and those who upvote good content.All you have to do is to make a steemit account (for free) and post 100% plagiarism free and quality content.if your content is good you will get an upvote and you will get some amount of steem and later deposit it to your bank account.
HOW DOES STEEMIT WORKS?
Steemit currency is much like other digital currency i.e. it can be bought,sold and traded on the open market.Steemit allows currency mining as well but unlike other networks earning money through currency mining is not the primary way of earning money on steemit,everyday the steemit networks creates and distributes new steemit currency units among the engaging users,the more you engage the more you earn(it is as simple as that).
HOW DOES THE STEEMIT CURRENCY WORKS?
One big difference that make steemit unique from other digital currencies i.e. steemit has three different currency units steem,steem power and steem dollar.
WHAT IS STEEM?
steem are the units that can be bought and sold for actual money!!!! on the open market.You can trade them like a company stock.There is one thing that you should avoid that is holding steem units for long period because steem units are created everyday now if you hold on to steem units for long time they will lose value and hence less valuable resulting in less money.
WHAT IS STEEM POWER?
Well unlike steem units you cannot sell steem power in less than 2 years,having steem power is like having a share in the steemit network the more the network earns the bigger your piece of pie will grow,and the fun part is you will be heavily rewarded along the way because 90% of steem currency generated every day is distributed among those who have invested in steemit.So there is a win win (sorry in this case Earn Earn Situation) for those who have steem power.
WHAT IS STEEM DOLLAR?
steem dollar is the final form of steem currency,unlike steem it does not get diluted or lose value with time.it can be traded at any time for actual money.when you create content 50% of your currency is steem dollar and like steem power you get a reward for holding steem dollar but in lesser amount that is 10% of daily generated steem goes to the those who hold steem dollars.
this is all i have gathered about steemit if you liked my post please upvote it and follow me for more info about steemit and many other networks thanks.
