My brother asked me how you get paid on Steemit. I told him you get paid in something called Steem. He was more concerned with getting real money for it so i told him you can easily sell Steem to Bitcoin and then from Bitcoin to US dollars. I'm sure you have pressing concerns too. Let's address them.
The most important question to anyone you invite. How do i get paid?
Well you get paid in 50% of something called Steem power and 50% of something called Steem dollars. Steem power is something kind of invested for you. It has a dollar value. You earn more money for having a lot invested and you also get more influence on Steemit. Meaning you give out more money to others when you upvote or comment on their posts. You're showing them love basically. And more. That's what is referred to as the influence you have over Steemit.
You can sell Steem power into US dollars by first cashing out(powering down), what they call powering down. All your money in Steem power will be divided into 104 equal payments. Each payment given to you in what is called Steem every week for 2 year. Meaning if you have say $104 in Steem power. It will be divided up into 104 and you'll ended up receiving $1 every week for the next 2 years. Now what is Steem.
If you've heard of Bitcoin, Steem is just like bitcoin. If you haven't, it's a cryptocurrency token which has a US dollar value. You can sell Steem to Bitcoin. Think of Bitcoin as an early cryptocurrency token that is fairly stable. When you sell your Steem to Bitcoin, you can easily sell that to US Dollars with several services like circle.com. All this conversion to different tokens takes minutes. You shouldn't worry about that at all. It's so easy to do.
Steem dollars is just like the US dollar. Think of it that way. Except with a different name. You can sell that to Bitcoin also or to Steem.
It may seem confusing, but it's not at all. Once you get paid on your posts, remember you can get 50% of your money in Steem power in 2 years and the other 50% which is paid to you in Steem dollars, right away by selling to Bitcoin and then to US dollars. Other exchanges and services also will buy your Bitcoin and give you whatever currency you need depending on whether or not they offer those.
Hope this has cleared up a bit of confusion.
Happy Steeming Everyone!
