Welcome to Steamit

I was a little confused when I first came to Steemit and I would like to help out some of you out there with understanding the way the currency works when it comes to this site. I would like to leave you with an understanding of whats going on so you can get out there and start making some friends and money!

First of all when it comes to Steemit there's 3 different types of "Currency" .. I will tell you a little about each of them.

Steem:

Steem is the first form of currency on Steemit. Steem are the units that are bought and sold for IRL money. You can trade them as you would bitcoin.
You don't want to hold on to these suckers for long because they lose value on a day by day basis.

Steem Power:

Steem Power is the second form of currency on Steemit. Owning Steem Power Units is essentially like making a long term investment in the currency because you can’t sell Steem Power Units for a certain amount of time. But there are some really good reasons to hang on to steem power.

If you keep your currency as Steem Power, you will be able to make more money in the long run because you basically have ownership in the entire network. As the network grows so does your piece of the pizza.

And you will be rewarded as you go. A percentage of the new Steem Currency that is generated every single day is distributed to the people who already hold Steem Power in the form of additional Steem Units.

Half of the pay you receive for anything you post will be in Steem Power. The more Steem Power that you hold the more your vote counts for as well. You will have a larger influence on Steemit, give more money to the people you upvote, and you will get paid more for upvoting other peoples work. In conclusion. We love Steem Power!

Steem Dollars:

Steem Dollars are the last form of currency on Steemit. They never lose value. They were created to be stable as a currency as well as something you can sell anytime you want. 50% of your pay is in Steem dollars when you create content and post on the site.

You are rewarded for holding Steem Power and Steem Dollars, so I would keep stacking if I were you!

Now that you understand the forms of currency all you have to do now is go and start posting, upvoting, and comment any questions you have! I hope you enjoyed this post! Resteem and follow me for more!

Love you all! Stay nerdy!