Welcome onboard Steemit : How you earn from steemit
In my last article, I tried to explain what Steemit is all about and how you can register an account.
Today’s article will take us step a further in this contest.
STEEM is similar to other digital currencies; it can be traded, sold and exchanged in open market similar to other cryptocurrencies. STEEM, similar to other digital currencies allows mining of currency, but that’s not the only way to earn money. In case of STEEM, the currency is created by the network every day and is distributed to the people who upvote and curate content on the platform. The more is your involvement on the platform; the more is the probability for you to earn money.
STEEMIT MONETARY SYSTEM
Although Steem can be compared to other cryptocurrencies, it can be categorized into 3 units, still within the Steemit blockchain:
Steem
These are the units which are bought and sold for actual money in the open market. The exchange happens in a similar to that of Bitcoin
Steem Power
STEEM Power is a long-term investment as you cannot sell them for two years. With it, you can make more money because you have had high ownership of the network. As the system continues to grow so will be your share.
Steem Dollars
These currency units value never lowers down or dilute. Steem Dollars are highly stable currency, and you can sell them anytime. If you create a favorite content, you will get 50 percent of the pay in the form Steem Dollars. If you sell the Steem Dollars after a certain period, you will get the reward just like Steem Power but not of same value as that of Steem Power.
Great way to tell the story about what steem is. Thanks for the entry and good luck.