Small summary
- What is Steemit?
2.How Does Steemit Reward Its Users
3.How to Start Using Steemit?
1.What is Steemit?
Steemit is a social media and blogging platform but is different from these so-called social media platforms. The closest thing to Steemit is Reddit. You can call Reddit the ugly and far less valuable version of Steemit which doesn’t pay anything to its dedicated community.
Reddit the is number 7 website in the world and is worth $7 billion. But still, Steemit is better than it and has massive potential.
2.How Does Steemit Reward Its Users?
Steemit Inc. is a company which primarily isn’t a social media or blogging platform. It is a company like Bitcoin which has cryptocurrency of its own called Steem. The company increases the amount of this cryptocurrency at the rate of 9.5 % per year.
75 % of the Steem tokens are distributed among content creators based on the value they create with their content!
3.How to Start Using Steemit?
Now that your account is set up and your profile is complete, here are a few things you would want to know before starting your Steemit journey.
Steemit rewards value creation. To ascertain the value, it has a system which determines how valuable your content is and how valuable you are.
Reputation Score: At the beginning, your reputation score is 25. As you contribute more towards the community, your reputation grows. People with less reputation earn fewer rewards and have less influence. Do increase your reputation to earn more. Reputation only increases when you receive monetary reward on your post and comments.
Followers: New posts stay in the New section of the website for literally a few seconds before they are taken over by the newest posts. The only way to make your posts visible to people is that they see it in their home feed. It is only possible if you have followers. So followers help your content be visible and thus create more interactions and earn more rewards.
Posts, Comments & Upvotes: These three activities are at the core of your contribution to the community. The more value you contribute, the more rewards you get.
Reward Types: Steemit rewards its contributors in three ways. These are Steem, Steem Power, and Steem Dollars. They are briefly explained later