Hello Everyone!
When i first heard about 'STEEMIT', i was really surprised to know that the site pays you just for posting and commenting. It was difficult for me to believe until my brother showed me 200$ dollars which he earned from a single post in just a week. It was then, that i did not waste a single minute for creating an account on steemit to start earning.
The purpose of this post is to create an understanding of different terms and to familiarize new steemians of this platform.
A. INTRODUCTION
Steemit has seen a tremendous growth in it's users since the launch in 2016. Alexa's web ranking has ranked steemit in top 1000 sites across the globe.
B. GENERAL
Steemit is basically a platform that pays the users with digital currency for posting good content. It can be described as a combination of reddit and facebook with an only difference that it pays to the users. In order to understand this system, one should first be able to differentiate between 'STEEM', 'STEEM DOLLARS' and 'STEEM POWER'.
STEEM: It is a basic crypto-currency which can be described as a backbone of this system. It acts as a building block for steem dollars.
STEEM DOLLARS: It is a currency which is used to send or receive amount through upvote. Steem dollars basically represents the amount of steem equivalent to 1 US dollar. This can only be used within the platform and needs to be converted into steem for withdrawal in US dollars or any other currency.
STEEM POWER: It symbolizes the influence one has within the steemit platform. Greater the steem power is, higher is the value of upvote.
C. CONVERSION
Present coversion rate:
steem dollar => steem => US dollar
D. GETTING STARTED
All you need to do are three simple things:
Think of a content
Bring it to the table
Let the audience decide whether it was worth reading/watching or not.
Thanks for taking out your time to read this post. I hope it was worth reading.
And one more thing, your suggestions will be appreciated.
UPVOTE AND RESTEEM
