Things to consider when delegating Steem Power

in #steem7 years ago

Sooner or later alot of Steemians build up enough SP to delegate some to worthy projects. For those of you who dont know about delegation, it is essentially loaning your SP to another account. Although the concept is simple, there are a few things to consider before delegating away that hard earned SP.

The vision, or roadmap of the project


This is always the first thing I look at before deciding whether a project is worth my delegation. Some questions to consider:

  • What is their plan and vision for the future?
  • How will they use delegated SP?
  • Do they have a whitepaper?
  • Who is part of their team - are they actively developing or making improvements to the project?

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For example both @steemhunt and @actifit have clear roadmaps for the future, amazing developers and are always making new and innovative updates. Both solid projects, and I delegate to both of them!

What is in it for me?


Nothing in this world is free, and often projects will offer certain 'perks' to those who delegate. The perks can differ from weekly Steem and SBD payouts, upvotes on your posts and payouts in native tokens such as Hunt tokens or Afit token.

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Generally reading through their Steem blog or checking out their website will give delegation details. If not then I am sure someone on their Discord will help!

Delegating to individual Steem users


As your Steem account grows, you could even consider delegating to newer users to help them with resource credits or just give them a helping hand. Some do this through competitions and some will seek out under rated authors.

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Although this most often will not lead to any direct rewards, it will help raise the overall level of morale on Steem and encourage newer users to stay. Additionally, you never know - that user might go on to become a whale or orca and pay you back big time with upvotes and support.

Delegation is another tool to earn passive rewards, while also helping others grow!

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