Steem4nigeria Accelerator Contest Week 48: The Benefit of Investing on Steem through Steemit Platform

Hello guys,
It's a pleasure on my path to share with you all my entries in this week's contest which is titled "The Benefit of Investing on Steem through Steemit Platform" which was organized by @steem4nigeria. It is an interesting contest and I would love to drop my entry ASAP.

Source

Before we go ahead I would like to invite @drhira, @solaymann, and @steemdoctor1 to join this contest in this community today and share their participation as well, I do hope to see and read your entries as well.

Which investment method is more beneficial to you? (Steemit platform or exchange wallet) Give reasons for your answer.

Having read the introductory part of this contest, I want to say the investment through the Steemit platform is much more beneficial than investment in an exchange and the reasons is because of the rewards we get.

The essence of investing on Steem as a cryptocurrency is because we want to make profit and the best way to make this profit is by investing through the Steemit platform. From my little knowledge, when you have Steem in an exchange the highest you do is to stake it and then you will earn some rewards based on your amount of investment.

But on Steemit, you can earn curation rewards by voting on other peoples post. Also you can get reward by delegating and getting regular upvote which is getting like 10 Steem or more a day in addition to what you have depending on the amount of your delegation.

Based on the above points of mine, I believe that Steemit investment of Steem is much beneficiary than that of exchange.

If you are given $5000 to buy any cryptocurrency of your choice, which cryptocurrency will you buy and why?

From my experience and my time in the crypto world, if given the such amount of money, I will buy Steem and have it sent to my Steemit wallet. Let's do the mathematics so you understand why I have chosen this.

Source

If 1 Steem is about $0.2, it means that $5000 will give me 25,000 Steem which means 5x dolphin. If I decided to vote with such Steem power, I will be earning atleast 30 Steem every week which means in a month I will earn about 120 Steem which is about $24. If this money is staked in an exchange or put in another crypto I doubt if I can have such a return in a month.

Alternatively, I can decide to delegate and then write ✍️ and get upvotes. With such delegation, I may have an upvote worth $5. Which means 5 Steem and 5 SP every day. In 7 days I have made atleast 70 Steem and in a month I will make 280 Steeem.

Give a detail explanation on the benefits of investing on Steem through the Steemit platform i.e., tell us all the aspect which this investment help you to make more money.

As clearly explained above. You can earn on Steemit either by upvoting on other peoples content with the SP you have to earn a curation reward or you may decide to delegate it and then earn curation reward by writing articles and getting upvotes.

Source

The explanation above in the previous question is how both works so it is left for you to make a choice. If you don't have a big Steem power to vote and earn tangible curation reward and you don't want to remain a regular blogger it is more profitable for you to delegate and get the daily upvote.

You will be surprise at what will be added to your money in the next one week or so. So those are the ways I think investment on Steemit through the Steemit platform gives us return.

What are the challenges associated with investing on Steem through the Steemit platform.

One of the major challenge is that once you loss your key the asset is completely gone. As you may have known, the Steemit platform is a decentralised platform and uses strings of password and when lost that is the end. This can be recovered in an exchange since there is a room for that.

Also when you need the money you can't get it immediately especially when you delegate and when the asset is in the form of SP. You must firstly undelegate which will take atleast 5 days to drop and then you start a power down which will take about a month to complete.