I like the engagement of the community and I like when people are open for discussion... That is my main reason for calling you guys to comment every time when you find something that you don't understand, or you need help around something.
Maybe I don't know the answer either, but someone from the community will answer it for sure! One of the similar comments was at last week's lesson when @trafficinsider said that he would like to learn more about Delegations, and here we are.
What is Delegation?
In a nutshell, delegation is borrowing your SP (SteemPower) to someone else. By doing that, your value of voting power (and resource credits (RC) used mostly for creating content and commenting) is reduced for the borrowed sum. You don't receive curation rewards for delegated SP, but you are still earning APR on ALL of your staked Steem whenever they are.
Is it safe to delegate SP to someone?
Delegation is 100% safe as you are the only one that can approve or cancel delegation. It doesn't depend on the other side (the user who receives delegation).
Why would I delegate my SP?
Well, that is a more personal thing... There are several reasons for doing this... For example, if you don't have enough time to curate others, you can delegate your SP... Maybe you like someone's work and you would like to help him/ her by giving more SP... Or, you can organize a contest and giving delegation as a reward for a certain period of time...
Also, there are programs that are giving you rewards if you delegate SP to them... Those rewards can be paid in tokens, upvotes, etc..
Selling your SP delegation
If you don't have time for curating and you have a bunch of unused SP, you can lease it at https://www.minnowbooster.net/market . It is like delegating your SP for liquid STEEM for certain period of time. But, doing that you will spare some time for yourself, but you will earn less than you can earn by manually curating... And there is a fee using MB services...
How can I delegate SP to someone?
The easiest way to delegate is to go into your wallet and under STEEM POWER part, you will see DELEGATE button underneath. When you click on it, you have to fill username and amount of delegation and confirm it. Also, you can use https://steemworld.org to edit, delete and create new delegation. It is super simple and very easy to use.
Can I delegate tokens?
Some of tokens on https://steem-engine.com have the possibility of delegation. Go to your wallet and search for the icon:
At the moment, delegation of #CTP tokens is not possible. Maybe it will be in the future, but that is a question for @jongolson
There are a lot more things connected with delegations, but I don't want to confuse you even more... These are basic use cases and the most often used...
Conclusion
Whatever you decide to do with your SteemPower (or TokenPower) just be aware that most gains you will get by USING your SP for upvoting other posts, in a long term... By doing that, and commenting whenever you can, you will get attention of other readers, get more followers and build you brand! And that is crucial if you want to grow!
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