The following is a brief explanation of the cryptocurrencies that are distributed on Steemit.com

Please feel free to offer any corrections in the comments if you believe part of this is incorrect

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Disclaimer: I am sure that the veterans on Steemit are getting tired of hearing this distinction, but I know that there are always new folk on Steemit that are not sure the distinction:

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Steem

I think of Steem as the most liquid, market currency of Steemit. You are rewarded Steem from everything you do. When Steemit inc. is doing exceptionally well, your Steem is worth more money. The main purpose of Steem is for you to choose: should I invest in steemit inc (buy Steem power) or do I want to get money (Steem Dollars). Steem allows you to choose.

Steem Power

Simply put, this is your share in Steemit Inc. The more steem power you have, the more valuable your upvote becomes. If you want to make money from curating, you should buy more steem power! It makes you an investor. To turn Steem power to cash, there is a long process called powering down, about 3 weeks, to turn it back to Steem.

Steem Dollars

Essentially, this is Steem that doesn't lose or gain value with the company. 1 SD is usually worth right around 1USD. A notable exception is two days ago when the value of SD inexplicably became 3USD for a brief moment... I wish I had cashed out at that moment.

If you are interested in learning more about getting the money you make into other cryptocurrency or getting actual cash, check this out! It heavily references parts of steemithelp.net

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Steemithelp.net by @cryptofiend is the most useful, comprehensive beginner's guide I have encountered for navigating this website.