Learn With Steem - Understanding The Rewards On Steemit

If we're really sincere, the majority of us were drawn to Steemit because it promised to be rewarding, an assurance given to us by a friend, family member, or our recruiter, and we thought, since it's free and "as there is nothing to lose, why don't we just give it a try?".

So, we created an account and joined Steemit, and slowly but steadily, we were able to confirm that Steemit is actually rewarding, and our enthusiasm for blogging skyrocketed.

In comparison to other blogging sites, Steemit has the fastest earning approach; you are essentially rewarded for your first blog post (introduction post).

Since these rewards are enticing, a greater understanding of how they work is required. So, in this article, we'll go over to the rewards on Steemit in detail. This article will concentrate on the following major areas:

• What are the rewards on the Steem Blockchain (Steemit)?

• Why can't you withdraw the rewards as soon as you received them?

• How do you get rewarded on Steemit

• What assures how much rewards you'll get?

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What are the rewards on the Steem Blockchain (Steemit)?

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There are many rewards earned for posting and engaging on Steemit; for convenience, I'll divide them down into three (3) categories (there may be others):

• Author rewards

• Curation rewards

• Beneficiary rewards

All Steemit rewards can only be claimed 7 days after the reward-initiating activity was done.

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Author Rewards

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The author rewards are basically the rewards you receive for posting content on the Blockchain, primarily through publishing and commenting.

Whenever you publish a posts or comments on Steemit and the content posted is voted on, you will receive half of the reward (vote) in both SBD and Steem power (which is also divided in half), resulting in 25% SBD and 25% Steem power. Additionally, you also get TRX a token from the Tron blockchain at a 1:1 ratio for every Steem power you earn.

You can check your incoming author rewards using Steemworld.org tools, login scroll down and click on Coming Rewards, select Author Rewards and click on Refresh. All incoming rewards both Post and comments will be displayed, including the time, the payout time, the payout amount in SP, STEEM and SBD.

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Curation Rewards

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The curation rewards are rewards earned through influencing or adding value to content, also known as curating. Basically, these rewards are earned by upvoting posts shared by other Steemit users.

The curation rewards account for half of the entire monetary value of a post. These rewards are given to the curators, or those who upvoted the post in a proportional manner to the number of votes cast.

The curation rewards include SP, and don't forget for every SP earned, you get TRX at 1:1.

So, if you prefer upvoting content, you're more certain to get some curation rewards, especially if your upvote value is around $0.04 or higher.

To check your incoming curation rewards, follow the same process on Steemworld.org, but this time select on Curation Rewards and click on Refresh. The upvotes you've made, the payout time, the voting power and weight, the amount of SP you'll earn will all be displayed.

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Beneficiary Rewards

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Beneficiary rewards are essentially shared rewards. You can set a user as beneficiary when writing a post on Steemit. When two or more users coexist to publish or work on a content or when a user decides to support a community or a project, the user can simply select a percentage of the author reward for the user/community. The set beneficiary will then get a certain percentage of the payout made by the author of the article... This is just for author rewards; the curator will still receive the 50% rewards on payout day. For example, if I set campusconnectng as a 10% beneficiary on my post and the curator upvoted the post with $6, the curator will receive $3 ( the initial 50%) of the rewards on payout day, while I that made the post will receive $2.7 (90%) of the author rewards while $0.3 (10%) will go to campusconnectng.

For this I've decided to use campusconnectng community account since users set beneficiary to this account.

On Steemworld.org I search for campusconnectng, scroll down and click on Coming Rewards, select Beneficiary Rewards and click on Refresh. The authors that have set beneficiary, the post, the payout time, the percentage, amount of SP, STEEM and SBD are all displayed.

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Why can't you withdraw the rewards as soon as you received them?

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Many people are flabbergasted as to why they are unable to withdraw their rewards as soon as they are received. As I previously stated, claiming your rewards takes 7 days, and during that time, 50% of your author rewards (SP) is powered up, or locked up on the system. This is done to avoid excessive cashing out and selling of the token, which will reduce demand and lower the token's price.

Imagine people withdrawing and selling their rewards as soon as they receive them; this would cause inflation and damage the token's price.

So, on the payout day (7 days after you posted), you will claim SBD, which you may trade for cash on exchange or swap for Steem on the internal market. Then there's Steem power (SP), which may be converted to liquid Steem by a process called powering down which takes 4 weeks. The liquid Steem can be traded on Crypto exchanges. And finally TRX, which will be deposited into your Tron account so far it's linked to your Steemit wallet, TRX can be traded on exchange and converted to other crypto or Fiat.

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How do you get rewarded on Steemit?

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You get rewarded through the curation process, the curation process simply means adding value or influence to a content of an author. Curation is done when other Steemit users upvote or add value to your contents, a process known as curating and the users adding value or influence are known as curators. This is certainly relevant for users with a lot of voting power.

To get more voting power, a curator must first acquire a large number of Steem tokens (which may be purchased on crypto exchanges). This Steem token is then locked through a process called power up, the locked Steem tokens are known as Steem power (SP). The more SP which equates to greater investment and staking, the higher the user's upvote or value that can be added to contents.

That's why it's extremely important to power up always. You benefitted largely as you will be able to earn curation rewards.

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What assures how much rewards you'll get?

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A lot of people especially the newbies might be curious about this... Well I'll try to answer this question using the below reference.

• Who is getting the reward (the author)?

• Who is rewarding the content (the curator)?

• The type of content being rewarded?

• Why is the author being rewarded?

The reference above may not be comprehensive enough, but it should answer the question to what assures rewards on Steemit.

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Who is getting the reward (the author)?

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This is about the author; who is he or she? Is he or she a newcomer? Is he or she well-known in the community as a result of active community participation?

Some users get rewarded because of their active engagement, interaction and the support they have given to others. In addition to all this, the user reputation and stake also determine. A users that have been committed to the system and have been building his or her stake (powering up) have the higher chance of receiving upvotes than a user that keeps cashing out.

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Who is rewarding the content (the curator)?

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This has to do with the curators, those rewarding the author, the curator on the other hand can be a single user, community account with voting power (higher SP). Rewarding the content also depends on how the curators have opted to distribute the rewards. Some communities have a project or account (charity) to which you must delegate or set beneficiary before you are eligible for rewards. Most others will consider rewarding long-term, consistent members who provide value to the community above new newbies or those who don't add any value to the community.

On Steemit, the steemcurators have been rewarding quality contents, they have also The Steemit established several criteria for receiving rewards, such as belonging to at least club5050 and not powering down; those in clubs75 and 100 will receive better rewards than those in club5050.

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The type of content being rewarded?

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This is another key consideration, the content's quality, is it adding value to the readers or the platform? Trash and low-quality contents, won't get reward. If it's a contest entry, does it follow the rules of the community or the organizer, if it doesn't then it won't be rewarded.

Meaningful, well-formed, and well-articulated posts frequently attract the undivided attention of curators, resulting in more rewards, and don't forget to join at least club5050 and never power down. This also applies to contest entry, follow the rules set by the organizer and submit before deadline.

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Why is the author being rewarded?

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Authors that have posted subjects related to the steemcurators' theme may be rewarded. While authors that partake in contest and adhere to all of the contest's guidelines may be rewarded too. So, instead of posting anything, you might choose to post something related to the steemcurators' theme or enter a contest.

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Conclusion

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Much has been revealed regarding Steemit rewards so far. I'd say "few" because there could be more. We can all agree, conversely, that Steemit aims to reward those who deserves it. You receive more rewards the more value you provides to the system. So, if you do more than just write, interact, engage, upvote, and increase your Steem power, you'll be sure to enjoy the rewards on the chain.

Special thanks to @steemchiller, who built the Steemworld.org tool that was used to illustrate the incoming authors, curators, and beneficiary rewards.

Thank you all for taking the time to read; your comment is greatly appreciated. Is there anything I've said that are incorrectly? Is there anything else you'd like to add? Do you have any other inquiries? Please leave a comment below.