Steemit Engagement Challenge - S7W3 | "Steem Education Festival"
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Good day Steemians. I'm so excited to be here again and participate in this week's contest organized by this community with the topic "Steem Education Festival". Here I will be sharing my knowledge about Steem power and its influence on my growth in life and the platform.
What is Steem power?
Steem Power refers to staked Steem token and is also an act of saving and locking up liquid Steem to earn more rewards in form of tokens from the blogging platform.
Furthermore, we all know crypto currency staking involves storing and locking up one's token to get returns from it while locking it up. Staking involves locking your tokens up for a set period, this staking is the same as Steem Power because it is an act of locking our steem token in our Steemit wallet and then it brings more benefits for the holders.
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Steem power can be acquired by powering up liquid Steem which can come as a reward for being an author or buying liquid steem in any of the exchanges such as Binance, Huobi and many other exchanges, then transferring it to the Steemit wallet for powering up.
What is the influence of steem power on your growth?
Steem Power has influenced my growth in so many ways and below I will be explaining how much of an influence it is on my growth.
It is my long-time Investment: Steem power is like a fixed deposit account to me because the more I save the more it's of great benefit to me in the future when the token price rises greatly.
Getting more Steem tokens through it: With the use of my steem power, I can earn more on a daily and weekly basis simply by using my steem power to curate other articles and collect curation rewards from it, the more Steem power I used for voting the more rewards I will be getting and in the future, I also can be a bigger curator using my account supporting authors
and getting more rewards.
Gaining more Influence on the Platform: Having more Steem power gives me more influence on the platform because I can apply for any application such as curator, a country representative announced by the Steemit platform, and community. It also give me the opportunity to vote for desired witness on the Steem blockchain.
It is also my way of supporting the platform because holding tokens help in the growth of the token and the platform ensuring that the platform is a success.
How is your commitment to collecting steem power? We all know that the #club5050 campaign has had a very significant impact on the growth of steem power. What is your opinion?
Club5050 has helped me a lot in saving some of the earnings I got from writing articles, initially, I don't usually power up my liquid Steem reward because I do use part of the reward to sort myself and my family while diverting the rest to crypto trading but as soon as the initiative commenced and I started powering up, I realized the importance of powering up my Steem because the more steem power I have the more curation reward I get when I curate others' articles.
Furthermore, looking at my wallet and seeing the amount of SP I hold do make me feel so happy because at the end of everything, the token is still mine and it is a source of investment to me and support for the token. Without the initiative of club5050, I can boldly say I won't be able to have the amount of Steem power I hold now.
Steem power has influenced the growth of almost all Steemians because it is a way of saving our money in a well-secured place that only the owner can access and it can also be used to make more of the token and with the initiative of club status helps in saving 2x to 3x of Steem earnings to Steem power unlike before.
I also can attest to it that the initiative of club status has helped to grow my Steem power to what it is now. Currently, I'm on #club5050 and I hope to increase my club status soon to be able to save more liquid Steem as Steem power. Thank you for reading.