What is STEEM, STEEM POWER and STEEM DOLLAR?? - work and purpose explained
When we Open our Wallet Section, We see three things
- STEEM
- STEEM POWER
- STEEM DOLLAR
many peoples are still not clear about these three Names and their purpose so I am here cracking down the explanation+purpose of these things here, I hope it will help
STEEM
STEEM is nothing but a crypto-currency, A crypto-currency Steemit introduced which's purpose is as same of Bitcoins. Steemit's and it's currency has same logo right now but Steemit is planing to change it's currency logo soon. it's value goes up and doing according to the market.
the time I am writing this post, STEEM is going at
$1.47
You can generate or collect/have these coins by changing your STEEM DOLLAR to STEEM,
who knows when STEEM goes super high and you hit the jackpot.
STEEM POWER
Steem Power is quiete simple, it is the influence of your votes. if you STEEM POWER is high, your votes will generate more dollars, and vise versa.
Some times 10 votes with less STEEM POWER worths less than a single upvote with more STEEM POWER. The purpose of increasing STEEM POWER is when you upvote your own Post and make easy dollars. STEEM POWER goes up with time and also you can buy it. the best way is to first convert your STEEM DOLLARS into STEEM, then Power Up to STEEM POWER.
next time when you see a guy making more money with less upvotes, their are people with more STEEM POWER behind it upvoted it. The People with the SUPER STEEM POWER are known as WHALES OF STEEMIT. their one upvote can generate $2 to $9 or more...
STEEM DOLLARS
STEEM DOLLAR is nothing but a dollar with name STEEM on it. It is not exactly equal to $1 but goes "little" up and down according to the market. What is the purpose? Well.. it is your real money what you made so far and transferable to other currencies and Steemit made it to buy things from online stores such as Peerhub.com and more who accepts STEEM DOLLAR as payment.
I hope it helped, please let me know in comments if you have more questions to ask. UPVOTE and Marry me if it helped
check out my previous posts
5 Steemit Facts You Should Know
https://steemit.com/steemit/@iamzainshahbaz/5-steemit-facts-you-should-know
$112.26 in 3 hours on introducemyself post
https://steemit.com/introducemyself/@iamzainshahbaz/usd112-26-in-3-hours-on-introducemyself-post
Issues with Steemit we always wanted to get solved
https://steemit.com/steemit/@iamzainshahbaz/issues-with-steemit-we-always-wanted-to-get-solved
My first week at Steemit - What I learned?
https://steemit.com/steemit/@iamzainshahbaz/first-week-at-steemit-what-i-learned
Thanks for sharing this quick explanation.
I bought some Steempower and plan to make again an investment.
Thants really a good idea,
I myself is doing it..
Wow that was a quick one. Didn't know you would do it that soon, cheers man awesome post! Would love to learn from you on your YouTube videos etc to make mine better!
hey thanks :D
that was really heart warming, I'm glad it helped..
You also have a youtube channel? Send me a link
I also have one where I posted some animations and stuff..
If you search YouTube @kryptocek you will find me. I am traveling for a few more days then maybe I will message you and chat and get some pointers from you they are very well done! :) if you send me your email on direct message or on my YouTube and I can email you! :)