Steemit Currency Breakdown for New Minnows!
A lot of new minnows are popping up on Steemit, so I thought I'd provide a little explanation of the three different ways to manage your STEEM investments here on the site. What we are working with here is STEEM, STEEM Power and SBD (Steem Backed Dollars). Thanks to @preparedwombat for edits!
STEEM
The main currency and payout for your posts
- Can be converted into STEEM Power through powering up (occurs immediately)
- Can be transferred from and to your wallet through exchanges such as Bittrex and Poloniex, making funds accessible
- Can be transferred to other users or to your savings through the options in your wallet
- Inflate by less than 90% every year
STEEM POWER
- Your "influence", and therefore your effect on how much is generated from your author and curator rewards
- In the simplest way, the more STEEM Power you have, the more STEEM you will earn relative to how successful your content is (It will not make your 5 cent post worth millions)
- STEEM can be turned into STEEM Power in a process called Powering Up, and Steem Power may be turned into STEEM through powering down
- Powering down takes 13 weeks
- Therefore STEEM Power is meant to represent long-term investment in the site and currency
SBD/SMD
- Work similarly to bonds, meant to have a persistent value of 1$
- Tradeble on exchanges and Steemit Internal Market
- Pay holders 10% interest annually
- With this it means SBD is meant to be a lending of money from you to Steemit, which they reward you with by increasing the value of your funds.
Hopefully this will help a couple people and can serve as reference for anyone who might need a quick guide to familiarizing themselves with their wallet. Thanks for reading, and if you found it helpful 
for more helpful posts and interesting content.
@STEEM @currency @steem @steemit @life @blockchain @cryptocurrency @minnowsunite
Very informative. Thank you .
hahaha woah thanks actually went and checked out my old posts, glad it helped! I need a crying laughing face emoji over here to actually represent my emotions rn haha
I need as much info as I can get as a new minnow haha and you had some good info here!
Ah, much obliged! I saw your comment on my introduction post, just answered the first comment right away so I didn't see it at first. Nice to meet you Lauren, returned the favor and followed :)
Thank you for your help
Hey, this is a great little article! Love to see it broken down like this!
For Best Results: Resteem, Upvote, Follow and Comment!
Thanks! Hopefully you will see more of these if the future :)
Great breakdown, this can be a very confusing thing when new to Steemit and Steem. Nicely done @trismegistuz.
Do you also get interest payable when you have SP? If you keep your funds as SP you will have less SBD (assuming that is your choice).
I don't believe you get interest payable, I'm not entirely sure how it works but I believe the amount is representative of what's generated from your posts and what you add with funds separately. You will not necessarily get funds as SP, but instead you get SBD payout from your posts that you can choose to keep as payment or reinvest in STEEM Power to generate more SBD in future. Hopefully this is a helpful explanation!
Many thanks.
Thanks, this post made help me a lot
I am new to this cypto currency world. And some of my questions are answered here. Very informative. Up voted.Thanks!!
Thank you for the info.
Thanks for the info...been reading everything I can lay my eyes on to get a grip on the platform. Much appreciated!!
Thank you.