So how does Steem as a cryptocurrency work?
I am quite new to cryptocurrency, but most others I have encountered need you to make your own wallet. How is that for Steem? Are you supposed to exchange your Steem to Bitcoin immediately? If you buy Steem on an exchange, where do you keep it? Perhaps a noob-tutorial on how to use this aspect of Steemit would be nice, since there are so many newcomers signing up these days.
The currency you are suppose to use is Steem Dollars (and is what you are paid in). Steem Dollars pay interest and are pegged to the dollar. There is no need to dump/sell them to protect your income.
These Steem Dollars can be used to buy things online and each day more opportunities to spend your Steem Dollars will emerge.
It seems like they're focusing on getting all the functionality they want on steemit, then they'll start branching out more with the actual currency.
Probably to add value.
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Great article!