How to Delegate Steem Power for Daily Interest?
This guide can be used by U.S. users. I will explain why there are differences between U.S. STEEM users and the rest of the world when we get to that part.
Register for Steemit ID
Go to Steemit.com and sign up.
Your ID is the first part of your email address whichever is before @ and it will also be your STEEM wallet address. It's like your "for deposit only" checking/savings account number in real life. For example, if your STEEM ID is @luckyguy12345, and if someone wants to send you some STEEM coins, all he has to do is send it from any STEEM wallet to @luckyguy12345, and those STEEM will show up at your Steemit wallet and be added to your STEEM balance.
(I posted a few YouTube links on how to register for a Steemit account on Twitter. I hope you get a chance to watch them).
After you have your Steemit ID, tweet it to me or DM it to me (while I prefer regular tweets I'd understand if you wish to use DM), and I will send you some STEEM to get you started..
But you probably want to get your own STEEM, which I am going to show you where to buy it next.
Where to Buy STEEM
We used to be able to buy STEEM from Binance, Huobi and Poloniex. But U.S. users are now restricted for using those exchanges. So, the only one exchange you could use to buy your STEEM from is Mexc Global Exchange.
If you are already familiar with how to deposit crypto to an exchange, I reccommend you use USDT Trc-20 for lowest fee, usually costs 1 USDT to transfer it from wherever you withdraw your funds from. But also if you're lucky enough to be a KuCoin users, then use USDT-Algo to withdraw since the fee is only 0.1 USDT. And for those of you non-U.S. users, I would use USDT Trc-20 from Poloniex because withdraw fee from Polo is zero USDT.
Sign up for an account with Mexc Global to buy your STEEM (and sell it later for that matter) so you can transfer it to your Steemit wallet (or from it in the future). And then I will show you how to delegate your Steem Power for a daily interest.
How to Delegate Your SP (Steem Power)
When you delegate your SP, you don't actually let anyone have your STEEM, you only let someone using your "Power" and your STEEM coins are still always yours you can take them back anytime you change your mind about it. The only thing is in order to keep the system stable, there will be a 5-day period to wait for your SP to be completely undelegated and coming back to you. Also, delegation is a long-term commitment. It's actually a long term investment for once you power up your STEEM, you already said yes, I won't intend to get them all back all at once but in 13 installments paid every 7 days. Sounds like about 3 months. This is also to keep STEEM stable. You don't want some whales to buy several ship loads of STEEM, delegate them for a few days and then dump them back in the markets. So, they can't dump STEEM if they want to earn interest from delegating their power too.
Also, since I have used many different delegatees in the past, I would just reccommend the final choice that I have been using. His name is @tipu
(Later on, when you are settled in, pay a visit to his Discord and chat with him if you want to ask further questions. He is a genius, honest and friendly)
For now, to delegate your SP, you first need power up your STEEM. Choose the amount you are most comfortable with to "Let go" because remember once you did it, your STEEM will be stuck for 13 weeks if you wish to power it down, although a 13th of your total SP will be available in 7 days.
I posted a YouTube video on how to use Steemyy form to fill out to whom (delegatee) and how much (of your SP) to delegate. Really simple. But you probably don't need to watch that video. Use the form below and fill out only two entries and then enter your Steemit ID and password.
https://steemyy.com/sp-delegate-form/
Later on, I will show you how to utilize SteemWorld.org/@(your Steemit ID here) to edit the anount of SP you wish to change increasing or decreasing...
(to be continued)