Steemit is a social media website that uses the block chain technology and it’s own cryptocurrency called “Steem” to reward participants. It is a great platform for both readers and writers for making huge amount of money online. If you have any kind of knowledge like cooking, photography, trading, share and crypto currency market analysis, poetry, science, fashion, fitness, sports etc then you can Make Money with Steemit like a Pro. Show your talent by writing blog, post or by commenting and steemIT will reward you with cash. Best part steemIT is you don’t have to be a blogger or content writer to post or comment here regardless any one with any talent can join steemIT.
How SteemIt Works:
One can make money with Steemit by writing quality blog posts, but also up-voting and commenting on posts. When you write blog posts you get a reward as an Author, and when you comment and up-vote, you earn a reward as a Curator in the form of Steem, Steem Power, and Steem Dollars.
We can also say that Steemit is similar to other digital currencies. For example, Steemit currency units can be traded, bought, and sold on the open market just like all of the other digital currencies.
With other crypto-currencies like Bitcoin, the actual currency units that are created each day are distributed to the people who run a special bitcoin software program on their computers that perform a process called Bitcoin Mining. The amount of computing power you have dictates how much money you get.
Steemit allows for currency mining as well, but it’s not the primary way to earn money. Every day, new Steemit currency units that are created by the network and distributed to the people who engage with steemIT website. The more you engage, the more you get.
People who create content are rewarded for their content. People who up-vote content are rewarded for helping to curate the best content available on the site. Commentators who add to the discussions are paid too.
There are 3 SteemIT Currency Units: Steem, Steem Power, and Steem Dollars
Reward Choices after earning Steem Dollars for creating content:
- Convert the Steem Dollars to Steem and sell it immediately on the open market for real money which is called cashing out.
- Hold the Steem Dollars, which keeps the money in the network and pays you 10% interest. You can sell them at any time. If you think the value will go up and want to sell at some point in the near future, this is your best option.
- Exchange your Steem Dollars for Steem Power. If you want to invest in the future of the currency and reap the biggest rewards, this is the way to do it.
How Steem is distributed and People Rewarded everyday?
Everyday 90% of the new Steem units are rewarded to the people who hold Steem Power Units.
10% of the new Steem units are paid to content creators, curators, and commentators.
When you create content that actually earns money, 50% is paid to you in Steem Dollars, which can be exchanged for actual money right away or you can get them converted into Steem Power. The other 50% is paid in Steem Power. The Steem Power Units are locked up for 2 years. Also You can en-cash your Steem Power which will be paid partially each day until next 2 years.
How To Get Started on SteemIT:
Getting started on steemIT is very easy and straight away process. Just Sign Up and create your account on SteemIT. Usually it takes 1-2 weeks for your account to be approved. Once your account is approved, proceed for your SteemIT account setup.
SteemIT Password is very important, Store your SteemIT password offline in a secure place
Make your profile attractive, give a relevant profile name, add display picture and banner link (use Facebook or website link).
You can create your profile like above picture. Follow me on SteemIT for future updates on Making Money with SteemIT.
Once your profile setup is done you can create your first post or you can comment on other posts in the trending section or comment on them. Higher the steem power you have higher you will earn on your each post or when you comment and up-vote others post.
More is the engagement more is the reward. Be active, up-vote other’s posts, comment on them. This is the best technique to Make Money With SteemIT