Converting STEEM to Steempower is worth it for safety and curration rewards.
Converting my STEEM into STEEMPOWER gives me more influence on the platform. When I give a vote now it counts for around 20 cents and that feels great.
I can make a real difference. But there is much more to it for me.
Safety is everything
Steempower gives me peace of mind because it keeps my STEEM secure. In case my account is compromised and my active key is stolen it will take any hacker months to empty my account.
Most cryptocurrencies are liquid. They can be moved instantly in case of a hack and it's a fear anybody that owns crypto lives with. If all my STEEM is liquid a hacker can move those funds straight away to an exchange but with Steempower they can't.
I love this feeling because it gives me peace of mind. And to me, this is worth a lot.
I'm on here every day. I will notice very soon when a power down has been started without my consent by anybody. I have plenty of time to fix the situation and change my keys.
Curation rewards
I have noticed an increase in curation rewards again. With STEEM at its current price that's actually a really nice return on investment. When the reward pool is completely full I expect it to be around 150 STEEM per week.
The button looked like this in the morning. $8 click, not bad at all and fun.
With Steem at 50 cents that will mean I can earn 75 dollars worth of STEEM per week curating.
Or Around $4000 per year. That's a better return I can get on a Dutch bank and I also have fun doing it.
Steempower is worth it
Sometimes I read on here that we need to get rid of STEEMpower because it's too complicated and investors don't like to have their STEEM locked up. But I disagree.
I'm in Steem for the long haul. So locking it up for a period of time doesn't bother me. Especially when you get influence, a great feeling of safety and curation rewards back in return.
As an investor and an active user, these features are fantastic.
Have a good week everyone.
Follow Me @exyle
I'd not think of touching my Steempower, because it's indeed what gives me more influence on the platform. I'm not anywhere close to your voting power yet, but I can now see a $0.01 difference when I vote, which is awesome!
I do hold some liquid Steem/SBD though, because I'm learning a bit about trading and all I have to trade with are my earnings on Steemit! It's a nice mix of building my saving here and experimenting with trades!
Great Comment, Thank you! It really proves that Steemit is the gateway to crypto because it's the only place where you can earn it by creating content vs. buying it. Good luck with your trading!
What if somebody hacks your account and changes your keys before you do?
There is a recovery process for such an event. Most people are registered by Steemit and thus it goes through them, but it depends on how your account was created.
So in the event of a hack I can get my private keys back even if the hacker changes it but I have to register through steemit.com ?
If you registered your account with Steemit, you'll go through Steemit support to recover your stolen account and change the keys. If you registered another way, the process will depend on who registered you.
Sweet. I didnot know about this. Thank you.
Thanks for answering the questions @demotruk.
Steemit is by far one of the best investments for time, money, and expression you can make. Welcome to the future in community and communication. Imagine how many people can now have a passive income that supports their family. Life changer if you commit, are consistent and are patient. Always takes some time to get started however as you said...worth it. :)
Fantastic comment. Thank you.
When I see your face in the feed first thing that comes to mind is 'he did it again, he bought more STEEM' ;)
lol! Man, I do love buying Steem.
So Do I need to have steem or steem power...? I think I'll poor you in a nice glass of wine in the coming days so you can explain everything to me
It's a date!
👍 Doing it now!
Smart.
Top notch. That's good on the curation. A healthy return!
It sure is a very nice extra and a good reason to hold SP.
Interesting Post , Thank You for the information.
Thanks you, and no problem!
Always appreciate a "HOT TIP"!
Thanks!
Did you ever buy Steem or all made from posting etc?
I earned around 10000 STEEM with blogging and curating. The rest I bought in small amounts over a period stretching almost a year.