Simplify Steemit | Different Payout Options for The Authors - Explained
STEEMIANS . . . . .
What is going on
As a steemian i can tell that, however, the learning curve of Steemit is not complex, if not simple, there are times when certian things get very much confusing and difficult to understand.
I have decided to put this series of articles to eloberate different things which, however, are simple but seem confusing enough to drag someone away from the community.
This is the first article of the series and in here we will be discussing the different payout options available to an author at the time of posting.
As i am new to Steemit, i also faced this issue of not understanding which option means what and which one to choose for my post.
Available payout options
When i wrote my first couple of posts i didn't know which option means what and which one should i select. I thought that powerup 100% will powerup my post and bring it to the top, but was wrong. Similarly for 50% 50%, I thought that 50% goes to the author and 50% goes to the curators. For decline payout i did have a faint idea, that by selecting this one i will not receive any payout, but i was not sure enough.
So i did some search for help here and there and found the correct solutions which i will share here.
But before that let us see what are the different currencies that Steemit keeps your balances in. There are three currencies that Steemit supports and each have its own properties.
STEEM is the main Cryptocurrency that Steemit supports. The other two currencies i,e STEEM POWER (SP) and STEEM DOLLAR (SMD) are dependent on it. They ahave different functions:
STEEM maintains the liquidity in the Steemit market and can be traded freely
STEEM POWER (SP) defines your influence among the network. Greater the SP, Greater is the Influence
STEEM DOLLAR (SMD) is the stable currency without much volatility of crypto.
You can convert them into one another from the internal Steemit market.
Now coming back to the payout options.(Remember you see your estimated earnings as SMD).
- Powerup 100% means that all the earned money (after subtracting curator amount) will go into STEEM POWER to increase your influence
- 50% 50% means that Only half of the total author earnings will go into STEEM POWER and the other half will go into STEEM DOLLAR.
- Decline Payment means that the author is declining to recieve any payment from the post.
Keep in mind that Steem it does not pay you in STEEM.
How do you like the post? do comment. . . Follow me @danishmmir for the next in this series. . . .
KEEP STEEMING
Introductory posts are always welcomed by a minnow like me. I am not active enough to dig out all these information by myself, so I turned to a much easier alternative: adk other Steemians. This works but information return seems to be in bit abd pieces. I still need to put them together. Your post save me this trouble. Thanks.
However, it will be even better if you put more information in one post.
Thanks....If i may ask...how do you get that much reward and upvote on your replies...It may be helpful...
Much appreciated...your posts are up to the point and at the same time lucid...hats off from a Minnow...Awaiting for such informative posts #simplifysteem...Does me a great deal in learning new things about Steemit. Jus gained you an Upvote and Resteem.
Thanks that was very helpful!
You are welcome @kevingamboa .. Please do check my other posts and follow me if you like my content.
Good beginning post. This will help a lot of the new individuals that are joining, and there will be a lot of them! Keep up the good work and look forward to more informative post from you!
great post really helpfull since I'm only one week here! upvoted and followed :) Have a look at my new blog, I think this one will be an enrichment to the Steemit community and maybe you make your own post about your #introduceyourhometown
Glad it helped.