Steem: A blockchain based social media platform

What is Steemit

Steemit is a social media site where users get paid for content creation, curating and posting comments. Think of it as posting content on Reddit and getting paid.

Your posts can be about anything too.

How Does It Work

When you make a post or comment and someone upvotes it, you get paid. You also get paid for upvoting posts that later receives more upvotes (curation).

Every user has steem power which equates to the amount you give someone when you upvote their post. The more steem power you have, the higher the amount you can give someone.

Reputation

Every user has a reputation score which is based on delivering quality content and the upvotes you receive from other members with good reputation scores.

Steemit Currencies

Steemit is the platform and their are three currencies that operate on the site which are Steem, Steem Dollars and Steem Power.

Steem

This is a digital currency like bitcoin which can be traded on exchanges. It is the fundamental unit and is used as an intermediary for steem dollars, steem power or back into bitcoin.

Steem Dollars

The money made on the content created is split 50/50 between steem dollars and steem power. Steem dollars can immediately be converted in steem or into another cryptocurrency on an exchange.

Steem Power

This is the unit that indicates how much authority you have within the steemit platform. You need steem power in order to vote as well.

You can’t sell your steem power right away, you would have to wait 2 years until you can do that. This isn’t bad as you’ll make more money on Steemit as it grows.

People upvote and comment on posts made by someone who has a lot of steem power as their comment may get upvoted and larger curation rewards.

How Can I Start Earning

You would need to go on to steemit.com and sign up. After a few days, your account will get verified and you can begin posting content, curating and commenting on posts.

Let Me Upvote Your Posts

My username on steemit is @abdo22 and I’m doing quite well on steemit. Follow me and I’ll follow back and if your post is good content, I’ll likely upvote it and maybe resteem it (sharing the post).