Steemit is a blogging and social networking site with the help of Steem blockchain database. Every text content is saved in a blockchain. Steemit pays to the creator of the post content when the post is upvoted, and also to the people who select the best content by upvoting others work. Peopl who comment to others post are also paid. Steemit requires no initial investment for account registration or participation.
Three different kinds of Steemit currency units, Steem, Steem Power and Steem Dollars.
Steem: is a cryptocurrency which can be bought and sold and can be converted to Steem dollars or Steem power. If you are not cashing out your Steemit earnings, you need not deal with Steem directly. If you won't use Steem Units for a long time, it will be diluted and lose value.
Steem Power: When you earn rewards for posting and voting, part of this is paid to you in Steem Power. When you Power Up, you are increasing your Steem Power also. Steem Power gives you stronger voting influence
Steem Dollars: is the currency of Steemit. When a content is created, 50% of your pay will be in Steem Dollars. You will also be rewarded for holding Steem dollars too. Steem dollar is sent to one another when the curator upvote posts on Steemit. 1 Steem dollar represents any amount of Steem required to reach 1 USD depending on the exchange rate at that time. You will first have to convert your Steem dollars into Steem and only then you will be able to convert that Steem into Bitcoin or USD. It will never be diluted or lose their value.
If your post has a low quality content, Steemit is not for you since you will be downvoted, Your reputation will not grow and your post will be declined.
