What is STEEM, SBD and Steem Power? how to use them and transfer funds

in #introduceyourself6 years ago

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Steemit

Steemit is a mixture of a social network with an internet income generation system that has created its own cryptocurrency to pay for the work of all participants within that community, among these options are:

STEEM:

It is one of the 2 cryptocurrencies that Steemit has, it is exchangeable and can be transferred anywhere at any time.By clicking on where STEEM says, the following options will appear:

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1-Transfer: Allows us to transfer our funds to our STEEM wallet in the different wallet, for example: transfer funds to Bittrex or another user.
2-Transfer to savings: allows us to save our funds in the savings section that appears below.
3-Power up: we can pass Steem and can be converted to STEEM POWER in a process called power up (you can transfer the STEEM you want).
4-Buy: allows us to buy STEEM in the market through BlockTrades.
5-Sell: we can sell STEEM in the market through BlockTrades.
6-Market: shows the status of the cryptocurrency, you can see the current volume and how it is being handled in the market.

Steem Power

It is the voting power that you have, that is, how much your vote is worth and what value you can give to the publications of others
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1-Power down: Drain what you have in Steem Power and distribute it between your Steem and your SBD. Remember that if you do this your voting power will decrease.
2-Buy: allows you to buy Steem power to increase your influence on your vote. through BlockTrades.

SBD

It is the second cryptocurrency of Steemit, but it is with which your posts are mainly paid, what your publications collect will be paid in SBD, knowing that a percentage of those profits goes to your Steem Power and to the curadore, that is to say who vote your post.

1-Transfer: Allows us to transfer our funds to our STEEM wallet in the different wallet, for example: transfer funds to Bittrex or another user.
2-Transfer to savings: allows us to save our funds in the savings section that appears below.
3-Market: shows the status of the cryptocurrency, you can see the current volume and how it is being handled in the market.
4-Transfer to STEEM: we can spend our balance in SBD and move it to STEEM, this takes 3 and a half days to complete, it depends on how they are in the market to make the conversion.
5-Buy: allows us to buy SBD in the market through BlockTrades.
6-Sell: we can sell SBD in the market through BlockTrades.

Savings and account value

Savings: allows us to save both STEEM and SBD, we can withdraw it when we want again and the process takes 3 days.

Account value: shows us the estimated value of your account, for this your funds are taken in STEEM, Steem Power, SBD and Savings to issue the calculation.

How to transfer my funds?

It is very simple, fast and safe, you just have to take into account where you are going to transfer your funds but I will show you how to make other users and also your purses outside of Steemit.

Transfer to a user

When you choose the option to transfer both STEEm or SBD it will be the same for both, and 3 capos will be filled out.

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1-For: here you must place the steemit user to whom you wish to transfer.
2-Quantity: you place the amount you wish to transfer.
3-Memo: this option for this case is not mandatory, but if you want to place something depends on you (only for this case).

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Welcome to Steem @demi98.

Do read A thumb rule for steemit minnows - 50:100:200:25 for starter tips.

Spend time reading Steem Blue Paper to know how Steem blockchain works and if you still have any queries ask them on our Ask me anything about Steemit post and we will try to answer that.

All the Best!!!

You are cool. Thanks for sharing, hehe. I'm Oatmeal Joey Arnold. You can call me Joey.

Hi @demi98
Excellent article. I subscribed to your blog. I will follow your news.
I will be grateful if you subscribe to my blog @nepeso
Good luck to you!

Welcome to Steem Community @demi98! As a gentle reminder, please keep your master password safe. The best practise is to use your private posting key to login to Steemit when posting; and the private active key for wallet related transactions.

In the New Steemians project, we help new members of steem by education and resteeeming their articles. Get your articles resteemed too for maximum exposure. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch

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