I love Steemit!
But there is still a lot to learn for me and other new members everyday.
Steemit has 3 different currencies that you can utilize to maximize your investment into the company.
Holding these currencies is just the same as being invested and apart of the company.
And this is looking like a really, really, good investment opportunity. Not to mention all the money you can make risk and capital free!
Let's get started...
STEEM - This currency is essentially like any other currency in the world. It trades on the open market, which you can buy and sell it for the current price. Keep in mind that more Steem currency is created each and everyday. This means that overtime it could lose some value. Although, as of now it has only been increasing in value.
STEEM POWER - is as if you have ownership in the Steemit network. As it grows, so will the value of your Steem Power. As a content creator you will receive half your pay in this currency.
- Majority of all the new Steem currency that is created everyday (as mentioned above) is distributed to users with Steem Power and according to your amount in holdings.
The more Steem Power you have the more influence you will have as a user. It is basically as if you are moving up a hierarchy and your contribution counts more in the amount of money. Everything you do goes up, for example your up vote payout increases.
One other major role Steem Power plays is stability. You cannot sell your Steem Power for I believe 13 weeks (I could be wrong on the length) This brings serious strength to the currency because this is how currencies stay strong. Just as the US dollar is backed by nothing, it is backed by serious strength. Money is always sitting and coming into the currency and that keeps it's value. Same applies here. Plus this could be a blessing in disguise for most. Steemit has a TON of room to grow and when that happens, so will the value of all your Steemit currencies.
- STEEM DOLLARS - As a creator, this is where the other half of your pay will go.
This is a stable currency that is not diluted by creating more of it and losing value. This does not appreciate in value like the other currencies do but you will earn 10% interest on your Steem Dollars for keeping them in your wallet/network.
You can sell these dollars anytime you want.
There you have it! The benefits are endless with Steemit and this is so exciting for us all!
Look out for more posts about Steemit and explaining this magnificent system, as I see many, including myself, looking for these questions to be answered. This could be an opportunity of a life time and we are all at the forefront.
So Keep Calm & Steem On