What is steemit.com and how to use steemit in 2019 to make money.

Review Title

What is Steemit.com & Can I make money posting articles?

Steemit is a growing social media platform for content creators such as bloggers, a growing social economy model, with a strong community where users are rewarded with cryptocurrency for sharing their content.

Why is Steemit a better platform than other social media platforms?

Steemit.com is one of the best-decentralized blogging platforms because it is run by its community members

When you are posting or commenting, you are making a contribution to steemit.com, when members will like/upvote your content or post, they are actually paying you with cryptocurrency called Steem.

Unlike Facebook, Twitter and other centralized platforms that don’t give anything to its users for creating and sharing content, but instead only make money off them and block their accounts without giving you an explanation.

No one will ever close your account on Steemit.com! you can’t close your account either!

But to keep in mind that if you are not following the rules and spam or steal someone’s content and post it as yours, you can get downvoted and all your time and effort will be for nothing.

Downvoting means: lets say you have a post that shows $1 if another member will downvote you and if his downvote weight is $1, then your post will be hidden from view and show $0

Plagiarism, Spam, and Abuse are not welcomed by the community members.

How often can I post?

I would suggest posting one or twice per 24/h , but you can post as many times as you like.

However, if you post too many times , the community members might not find the value in your posts and will not upvote you, they will surely not drain their voting power on someone that post too many times.

Make a relevant post and you should interact more with community members since they are the ones that upvote your posts, instead of posting too many times.

What can I do with my STEEM and SBD tokens?

  • The main thing you should do with Steem is to “Power up” to Steem Power or sell it.
  • Steem power gives you more weight on your like/upvote, the more steem power you have the bigger the value of your upvote will be.
  • You can also exchange it for SBD or STEEM in the internal market
  • Withdraw your STEEM or SBD to one of the many exchanges where steem and sbd are listed and trade for BTC or other altcoins
  • Pay for items through third-party stores that accept STEEM or SBD tokens

Bitcoin can also be exchanged for STEEM on external markets such as BinanceBithumbBitSharesBittrexChangellyGOBADAGOPAXHitBTCHuobiLocalBitcoinCashPoloniexShapeshift.ioUpBit, and Yensesa.

How much are the transaction fees for sending tokens to other users?

If you transfer the tokens in the steemit.com ecosystem there is no fee to pay, however, if you send it from exchanges, the exchanges will charge you a small fee.

What is my voting power?

Voting power is based on the steem power amount you have in your account.

Voting Power is like an energy bar, you start with 100% voting power and every time you cast a vote at 100%weight your energy bar decreases by 2%.

The Energy bar will regenerate 20% every 24/h .

To upvote effectively and maintain your voting weight between 80% and 100% you should cast only 10 votes a day

You can cast 50 votes at 100% vote weight before your bar gets to 0%, but when you have over 500 Steem power in account you can change the vote weight to whatever weight you like , even cast votes with 1% , so you will be able to cast more votes

Upvotes and downvotes use the same amount of voting power.

When you cast a vote, your Steem Power doesn’t diminish.

10000 Steem Power at $0.33 steem price gives you an upvote of $0.21

The strength of your vote will increase or decrease according to the price of steem token.

 

Where can I check my voting power?

You can view your current voting power using third party tools such as https://steemd.com/@youraccount.

How much are the transaction fees for sending tokens to other users?

If you transfer the tokens in the steemit.com ecosystem there is no fee to pay, however, if you send it from exchanges, the exchanges will charge you a small fee

What determines how much of the curation reward goes to the author versus curators?

The curator is the one casting the vote.

Rewards are calculated so that 75% of the payout goes to the author and 25% goes to the curator.

If you vote/like a post or comment and your voting power is $1 then, $0.75 goes to the author and you get $0.25 of that, but you need to time your votes.

  • If a post is upvoted the moment of posting, 100% of the curation reward goes to the author.
  • At 3 minutes, 90% goes to the author and 10% to the curator.
  • At 15 minutes it’s a 50/50 split.
  • At 27 minutes, 10% goes to the author and 90% to the curator.
  • If a post is upvoted 30 min after posting, 100% of the curation reward goes to the curator.

Every day, the Steem blockchain mints new STEEM tokens and adds them to a community’s “rewards pool”.

These tokens are then awarded to users for their contributions, based on the votes that their content receives.

Where does the value come from?

At its root, Steem is simply a points system. However, because this points system is blockchain-based, the points can be traded on markets as tokens.

  • People buy and sell these tokens, and many hold in anticipation of increased purchasing power for various Steem-related services.
  • By analogy, Steem is a game system where users compete for attention and rewards by bringing content and adding value to the platform.
  • The rewards people earn are tokens that have market value and are readily tradable.
  • It is similar to how someone playing a video game could obtain a limited item or currency by playing the game.
  • If the currency or items are transferable between users, then they can sell or buy them on game item markets.More Detail on the FAQ page of steemit.com

How can I get followers on steemit.com?

I would suggest joining communities that are created by the great members of steemit.

One such community is the Minnow Support Project, it runs a channel on Discord

1 Go to discord register with them and get the benefits of being a member and make friends.

The Minnow Support Project is a Witness initiative designed to form a community around new Steemit users to help them grow, find support, and as an avenue toward financial success.

The minnow support project is being run by :

@aggroed
FOUNDER
Founder & General Manager of MSPIs a passionate advocate for Peace, Abundance, and Liberty. He spends time making connections to bring users to the Discord room and handling arbitration.
@ausbitbank
FOUNDER
Founder of MSPIs an Australian with deep roots in the community, who uses his Steem power to curate users who choose to dedicate their time to controversial topics.

Also you will meet @juliakponsford a mod in their discord channel and she will help you too, she is an amazing steemian.

2 Another community you should join is Steemgigs, it is a community on Discord 

This community is run and managed by @surpassinggoogle a great steemian and a very good friend to everyone.

Who takes care of the Steemit network?

Steemit has witnesses that take care of the network and keep it running.

What are Steem witnesses?

  • The Steem blockchain requires a set of people to create blocks and uses a consensus mechanism called delegated proof of stake, or DPOS.
  • The community elects ‘witnesses’ to act as the network’s block producers and governance body.
  • There are 20 full-time witnesses, producing a block every 63-second round.
  • A 21st position is shared by the backup witnesses, who are scheduled proportionally to the amount of stake-weighted community approval they have.
  • Witnesses are compensated with Steem Power for each block they create.
  • You should vote for Witnesses because they take care of steemit.com, you can vote for 30 witnesses so chose active witnesses.
  • You can find the witness page on the right side of your screen

steemit witness

What is considered spam or abuse?

Plagiarism, Spam, and Abuse are not welcomed by the community members.

  • Asking for money, views, upvotes, follows, or resteems.
  • Leaving nearly identical or materially similar comments on multiple posts.
  • Comments that are unrelated to the topic of discussion.
  • Sending unsolicited links or requests to users via wallet memos.
  • Posts that require upvotes to enter or play in a contest or game.
  • Sending users a link to your blog or a post if it is not relevant to the conversation.
  • Posts or comments that include little or nothing more than an offer to trade follows or upvotes.
  • Using tags that are unrelated to the post.
  • Threatening users with any type of physical violence.
  • Not citing sources when using someone else’s material.
  • Posting ‘not safe for work’ content without using the “nsfw” tag.
  • Selling or offering to buy votes/resteems/follows, or schemes that facilitate this.
  • Scams or Fraudulent offers.

I am Interested to join Steemit.com, how do I start?

You will need to register on Steemit.com and wait a maximum of 2 weeks to be approved.

Unfortunately, it takes a bit of time for your account to be approved.

Another option will be to pay for your account and have it open in an instant.

You can buy your account from Blocktrades click on it and it will take you to their article on steemit.

Make sure you save the passwords from steemit offline on a printed piece of paper , better you make 2 copies of it.

If you lose your password , you will lose your access to your account and no one can get it back for you !

Main rule is,  Save your password and don’t lose it !

You can find me on steemit.com my username is @greatvideos , I am waiting for you there and I will help you with the information needed to get you moving.

Thank you very much for reading and best of luck !

Please leave a comment to add info or to give your opinion.

 

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