Good guys. Steemit is flying!
People are making thousands of dollars and if you are reading this, I would bet you want to be part of this amazing new community as well.
BUT (and it's a big but) it's super complicated and it can be confusing to understand certain important aspects!
And I'm not going to be too technical because I'm not an expert.
But I can give you the simplest version of everything you need to know to begin with!
📌 What is Steemit?
Steemit is a social network that looks and works a lot like Reddit, but with a HUGE difference:
📣 Steemit pays both the creators of content when their work is voted, as well as the people who vote (make it more visible) the best content on the page.
This is possible because the Steemit platform is built on a new type of digital currency. STEEM https://coinmarketcap.com/currencies/steem/( Think of Bitcoin to compare, which is the main digital currency.)
Every day, new units of currency are created by the network and distributed to its users, who can exchange these units for digital coins for real money or for other cryptocurrencies.
And it does not cost a penny to start. 😁
You can create a Steemit user account for free and publish your content directly on the site in a matter of minutes using the Steemit publishing tools.
If you are skeptical at this moment, I understand. I was also.
But it's definitely a pretty lucrative business.
So let's go deeper. I'll show you how everything works!
📌 How does Steemit work?
In some aspects, Steemit is similar to other digital currencies. For example, Steemit's currency units can be traded, bought and sold on the free market like all other digital currencies.
📣 (With other cryptocurrencies such as Bitcoin, the actual currency units that are created each day are distributed to people who run a special bitcoin software program on their computers that perform a process called Bitcoin Mining. how much money will you get)
Steemit allows forex mining, yes, but it is not the main way to earn money. Every day, new Steemit currency units that are created by the network and distributed to the people who write content for the site. The more you get involved, the more you get.
People who create content are rewarded for their content. People who vote for content are rewarded for helping to make the best content available on the site more visible. The comments they add to the posts are paid too.
📌 The 3 monetary units of Steemit:
The first thing you should understand is that there are three different types of Steemit currency units.
We have Steem, Steem Power and Steem Dollars.
Confused? I explain:
🎯 Steem:
Steem are the units that are bought and sold for real money in open markets. You can negotiate as you would with bitcoins or shares of a company.
But you should not cling to these for too long because many more Steem units are created each day. If you hold onto the Steem Units for a long time, they will become diluted and lose value.
🎯 Steempower:
Ownership of the Steem Power Units is essentially like making a long-term investment in the currency, since Steem Power Units can not be sold for 2 years. But there are many good reasons to have Steem Power.
By keeping your currency like SteemPower, you will be able to make much more money in the long run, since you essentially have the property in the network. As the network grows, so will your piece of cake.
And you will be very rewarded on the way. By the way things are set today, 90% of the new Steem coin that is generated each day is distributed to people who already have Steem Power Units in the form of additional Steem units (The other 10% goes to creators of contents and curators).
📣 Important: Half of the payment you receive for your content will be in Steem Power Units.
Also, the more SteemPower you have, the more your vote of no confidence (Flags 🚩) will count. You will have more influence on the site and you will also be paid more for voting the work of other people. (They will receive more money too.)
The SteemPower also play a very important final role. They avoid massive price changes and volatility in open markets. Because all the Steempower in the world are locked for 2 years, we could not sell the steempower at once if the market starts to sink, which would cause the price to be blocked until it rises again.
🎯 Steem Dollars
The Steem Dollars are the third and last form of the coin and never dilutes or loses its value. They are designed to be a stable currency that you can sell at any time. When you create popular content, 50% of your pay will be in Steem Dollars.
And you will be rewarded for retaining Steem Dollars as well. It's not as much as the Steem Power. But because you still have the currency in your network, the Steem Dollars retention in your account pays you a 10% interest.
📣 When you earn Steem Dollars for creating content, you have three options:
You can convert the Steem Dollars to Steem and sell it immediately in the open market for real money, essentially charging.
You can hold the Steem Dollars, which keeps the money in the network and pays you the 10% interest. You can sell them at any time. If you think that the value is going to rise and you want to sell at some point in the near future, this is your best option.
- You can exchange your Steem Dollars for Steem Power. If you want to invest in the future of the currency and reap the greatest rewards, this is the way to do it.
📌 How to start WELL
First things first, you need to set up your account. You will have to use your Facebook account or a Reddit account to verify your identity.
📣 IMPORTANT: Your account will be very valuable so be sure to set a secure password.
🎯 Creating your first publication:
To start publishing content, all you have to do is click on "Send a story" on the top right of the screen.
When publishing content, it is important to format your articles in a way that makes them easy to read. Use images, titles and subtitles to break long blocks of text.
🎯 What to write about?
That's the million dollar question, right? The best advice I can give you is to explore the trending topics / labels, as well as the trend posts within those sections and see what kind of content people are responding to.
The introduceyourself label is a great place to start. Try to introduce yourself in the community and most get good benefits from these post.
📌 And just like that ...
Try to remember that it is not about how much time you spend creating content, but how valuable / entertaining it is for everyone else. Try to create valuable and lasting content.
So my fellow Steemers, I have a question for you: what are you waiting for?
Go out and start creating! 💡
As for me, I am in the train and I plan to invest in the long term. See you all on the other side!
If you liked my post I invite you to be part of my followers and so you have my personalized content in your feed! You help me a lot to post. THANK YOU! 😁