Contest: A Penny Saved, is a Penny Earned

Image gotten from the contest
Source

We will start by looking into the word Penny in a layman's understanding.

Penny: Here in my country Nigeria, when anyone made mention of "Penny", it means very little amount of money that has no much value. However, I'll be following the contest guide in discussing the topic: A Penny Saved, is a penny Earned.

This can be seen below

What do you understand by the word "Saving" and how can we save our earnings on Steemit.

Saving is a means of gathering money in bits or in smaller amounts over a period of time. This doesn't only relates to money alone but also goods or material things can be accumulated in small quantities overtime.

However, some steemit user don't have that bug of cash to buy Steem, but by voting, commenting and making of quality post which is free from plagiarism can make a user earn Steem on steemit Blockchain. It's at this stage that a steemian can now start saving his/her Steem by powering up little by little via the Steem wallet.

Give reasons why you think it is important for us to save our Steem earnings on Steemit.

One of the reasons why I would encourage any Steemit user to safe her earnings here on Steemit it's because of the following points:

• Steemit is a decentralized Blockchain

• It's free from manipulation

• Internal and external users of the platform can only view your Steem wallet balance but can't withdraw your earnings without your private active key

• Saving your Steem by powering up, helps to increase you voting power as well as earnings.

• It also helps the price of Steem to maintain stability of price in the Crypto market.

How do you balance the excitement of earning STEEM on Steemit with the importance of saving for the future?

Saving is not easy, especially when we have hard times (challenges). There is always great joy when a user earn Steem coin on Steemit Blockchain. I used to be happy when I see that my post had been curated with high vote. However, saving same earnings for the future had not been easy but it pays to save because raining days ahead.

Before now, I used to power down my Steem for merriment and not thinking of the future. But my joy now is the introduction of club50, club75 and club100. This has encourage many steemian to save for the future.

The joy would be that, when you have gathered overtime, and Steem increased in value, the excitement will be stress-free.

To show that a penny saved is a penny earned, do a power up showing us a before and after wallet balance.

The analysis below is to show really how a penny save is a penny Earned.

When you look at the screenshot above, you will see that I have 2.508 Steem. This is my earned Steem from the platform.

However, you can also see that my Steem saved is 457.776from the same screenshot above. These is that quantity of Steem I had saved overtime in my Steem power. This represent my current wallet balance, as I will carryout the task of powering up to show how Steem can be saved.

Power Up

This is the process of transferring earned Steem to Steem Saved.

At this point, click on power up. This will take you to the next stage as seen below.

Here the system is only asking you to confirm the transaction.

At this point, you will make use of your user Active key to complete this transaction. Therefore, you can see the screenshot below and compare it with my first screenshot to see that my saved Steem has increased by 2.508 Steem power.

This is my current Steem saved.

In conclusion, the analysis I just carried out is a good example of our topic of discussion. Therefore, a penny saved, is a penny Earned.

I would loved fellow Steemians to look into this contest: @josepha, @ngoenyi, and @yakspeace.

Thank you for your time.