There are three cryptocurrencies associated with steemit.

Steem, Steem Dollars and Steem Power.

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STEEM

Steem is the native cryptocurrency of steemit. It is a speculative tool. It sucks to hold it for long term use because of inflation. Yep! it is subject to inflation. It is constantly increasing in supply by 100% per year. That means that steem is diluted by 0.19% per day. It is therefore adviseable to hold steem only when liquidity is needful.

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STEEM DOLLARS

Steem dollars is pegged to the USD to guide against volatility and ensure that the value of your earning is fixed and predictable when you sell it. Cryptocurrencies are very volatile and it won't make sence that youearn $100 in a post but when you want to convert it it becomes $80 because of market volatility.

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STEEM POWER

Steem power is my favourite. I believe that investing in steempower is the best investment of 2017. slSteempower is like buying shares in steemit. It gives you power and influence in the platform. If a guy like @jerrybanfield should upvote your post, you would get $10 from that single upvote. Right now I have close to 700 steem in SP(steem power) and my upvote is worth about 10 cents(it was 2 cents when I made the video below). That difference is because @jerrybanfield has more steempower than me.

Those are the cryptocurrecies associated with steemit. You can read more about them from the steemit whitepaper here..

Thank you for reading and watching. Leave a comment below if you have any questions or contributions, I like upvoting comments. #winks

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Sundayselfies contest holds tommorow.
I'll be giving away $15 to 3 selfielicious people.
click the link below for more information.

https://steemit.com/photography/@tojukaka/sunday-selfies-contest