There are alot of discussions, writeup and topic written and discussed about STEEM AND STEEMIT, this post is meant to clear the air about the mix up and also help all the newbies to understand "WHAT STEEM AND STEEMIT is and how they relate. Initially when i newly joined the platform i was a little bit confused about the two mentioned words STEEM and STEEMIT. Before i proceed let me clear this impression, steem currency doesnt only exist on steemit platform alone you can as well use it to exchange to some of the altcoin you wish to. take note of that. this short article explaining a few things between steem and steemit.
steem is the building block and currency of the blockchain that Steemit is built upon.
Before i state my points, please feel free to correct and drop your comment about how you understand and view the two words steem and steemit.
DIFFERENCE BETWEEN STEEM AND STEEMIT
STEEM is the liquid cryptocurrency on STEEMIT platform that is used to pay members on STEEMIT as a way of reward when posted a good article with good content. STEEM can be powered up into STEEM Power, transferred to other STEEMIT accounts and even trade it on several exchange platform such as:
STEEM on steemit platform can be converted into two of this: steem power and steem dollar which is meant to be equivalent to 1 usb.
STEEMIT is the first if its kind, is not just a social media for posting and commenting just like first book, but rather STEEMIT is a blogging and a social media platform that allow new and old users of the platform to post an article and gets paid for creating a good content .Steemit social media is like a bank that generates its own currency (just like steem) and uses it inside of it, Steemit uses steem to pay the author of an article and also pays the curators. Steemit is fueled by blockchain tech
NOTE- Not all the exchange platform supports STEEM, so the above mentioned exchange platforms supports steem, its advisable to use them to exchange to any altcoin you wanna exchange to.
I will start by saying steemit is an eye opener and the future of social media.cos without steemit so many of us wouldv still waste our time on facebook and the rest of other social media platforms that we wont benefit in terms of monetary aspect.
STEEM is a cryptocurrency, that powers through blockchain while Steemit is a blogging and a social media website where you can read articles form different authors, post your personal stories, view and experiences in life and in other to get paid.
THANKS FOR YOUR TIME.