What the hell is Steemit and how it works? Very basic FAQ
Here I will cover the very basics of Steemit point by point just so you get a global idea, for further information, there are resources at the end of this article so you can really understand what is it in depth.
What is Steemit?
Steemit is a social network that looks and functions a lot like Reddit, but with one HUGE difference:
Steemit pays both the content creators when their work gets upvoted, as well as the people who upvote (curate) the best content on the site by upvoting others work.
It's a system entirely based on rewarding its users.
And it doesn’t cost anything to get started.
If you’re skeptical at this point, I get it. I was too.
But it’s definitely the real deal.
Is Steemit registration free?
YES. However, there is a verification system and it takes about 24h to a few days to get accepted on the platform (it took exactly 26h for me)
Do I have to pay anything to use Steemit?
NO, it's totally free. Once you get your account, you can use the platform 24/7 without any restriction.
Do I get paid by commenting and upvoting on Steemit?
YES, Steemit system is based entirely on its own cryptocurrencies (Steem, Steem dollars (SDB) and Steem Power).
Steemit rewards its user for being active on its platform, the more you participate, the more you will earn.
How the hell do they give me money if I pay nothing in the first place?
Steemit is using the blockchain technology and its own currency, every day, new units of the currency are created by the network and distributed to its users, who can exchange these digital currency units for actual real money (USD$).
This is possible because the Steemit platform is built on top of a new kind of digital currency. (Think Bitcoin, which is another kind of digital currency that has been around for a while.)
How do I get paid?
Every action you take to make the platform live will reward you (the more Steem Power you own, the better will be the reward), upvoting post/comments, posting comments, posting content.. you name it, every single social action you take, will reward you and the more active you are, the more you will get in return.
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Thanks sir!