Is mining steem profitable?

Mining any cryptocurrency requires some time before you can be profitable and it is the same for Steem.

The difference is that you do not have to invest in expensive equipment like you would need for Bitcoin or Ethereum, or rent hash power where it is even more difficult to be profitable. People renting hash power are usually profitable when they refer other people to the company and get a commission, and when the coins they mined have increased in price.

In the contrary, what you need to become a witness and mine Steem is to rent a server and set it up. The cost for a server can be from $40 to $120 a month and you can of course get started at the minimum, and then upgrade your server as you go.

The difficulty with mining Steem is that you have to get votes from the community in order to advance and be at the top with the highest payouts.

My friend Jerry Banfield started mining about 3 months ago and he started at the bottom like everyone else. He is now ranked #29 as a witness and this is possible with a lot of work, a big audience and whales voting for you.

This is where you can vote for a witness: Steemit witnesses

I invite you to read Jerry’s blog post here in order to understand how everything works: Steem Witness Basic Training! — Steemit

Now, I believe you want to know what kind of money Steem witnesses earn. This can answer your question.

This is taken from another blog post that you can read here: https://steemit.com/witness-cate...

So, as you can see, if your server costs you only $40 per month, you can be profitable very quickly. The amount you can earn only depends on your commitment of being a witness.