Don't Steemit for the Crypto Money
I keep hearing how people are mainly motivated to participate on Steemit for the monetary rewards.
The problem is, Steemit is a terrible way to make money!
Right now my account stands at $5,170.63 "Estimated Account Value"/
That might seem awesome or lame depending on your current value. I am here to tell you that is very, very bad.
This account value includes the thousands of dollars of Bitcoin, Litecoin, Etherium and Bitcoin Cash I converted to SBD. So really that figure should have a minus sign in front of it.
OK, that is not Steemit's fault - it was my stupid mistake to go all-in on Steemit.
But in 9 months I have very little to show.
OK Smart Arse, What is the Alternative?
This is a screenshot from just one of the companies I work with as an affiliate.
You will notice the figure is a lot higher.
OK, you might think, but so-and-so has made $$$ from Steemit!
The difference is, I wrote those articles once and will continue to earn. With Steemit you get paid once so have to keep writing.
These cheques keep coming even though the article I wrote (that no longer ranks in Google) was from 2007.
But I see people making $200 per post!
You sure do see great per-post valuations, but remember
- the author doesn't get all of that, they get something like 1/3 or thereabouts.
- those cheques above can go right into the bank. Your liquid SBD/Steem would need to be sold to convert to fiat.
- powering down takes a while and reduces your ... power
- if you are not a wale then those $200 posts are coming from buying votes. When I don't buy votes the best I can get is around $1.50
Calculate if you are happy with your rewards converted into an hourly rate
That article I wrote in 2007 has made me between $100 and $200 per month ever since. Usually, even the strongest of my articles take me under 8 hours.
Do the math.
Now calculate how much time you have put into Steemit and how much you have been paid. Especially if you came on board in the last 12 months and are not particularly attractive to get the thirsty votes ;)
Depressing isn't it?
I am not here to depress you. Quite the opposite.
If you haven't guessed already, I am proposing you try using your Steemit blog for double duty.
Nothing in the rules suggests you can not use affiliate links in your Steemit posts.
Perhaps you can get paid once from your Steemit rewards and forever from your affiliate links? Steemit right now (until Google notices) gets good rankings ....
Steemit can be one element of your 'swiss army knife' of income streams - you will rarely find wealth in one income source alone. Aren't you finding that Steemit is providing another useful source of income?
As yet I am only seeing people who got in when Steem was cheap, have wealthy benefactors, or sell a service making more than pennies
I take your point - but I do think that if you're going to blog, you may as well hedge your bets that today's $2-3 price might look like pennies in the future...
Hola @makerhacks
Disculpa. Apenas soy reputación 41 y mis ingresos han sido de cerca de 12 dolares. Soy jubilado y no tengo trabajo. No me importa sentarme a trabajar en Steemit con tal de tener seguridad de que contribuyo con la red.
Ciertamente he invertido muchas horas desde el 04/03/18 al día de hoy (excluyendo como 20 días que no tuve acceso a internet). Tengo la meta de lograr ingresos que me permitan solventar mi situación y me satisfagan.
Todavía no he sacado nada y espero hacerlo cuando tengo algo que me ayude.
Gracias por el artículo y disculpa mi ignorancia.
Hey @makerhacks! Seriously, I'm interested in making tons of money, but I really didn't expect to do it here on Steemit. . I read your article twice and I'm not quite sure what you're suggesting as the alternative. I would appreciate a bit more clarity. Thank you.
Affiliate marketing - you mention products (with disclosure) and if someone buys the product through your link you get a sales commission in return. https://en.wikipedia.org/wiki/Affiliate_marketing
Yeah its a good way to promote either a pdf you wrote perhaps for O'Reilly or maybe to promote your youtube channel or udemy course. Could be anything really, but in your case you are going for the technical crowd which is a good niche.
Well my dear sir, you are fortunate to have curved a niche for yourself before the advent of steem and steemit. So the money you get here may be peanuts to you may, but your peanuts may be pay check to some of us who are struggling to find out footing.
As for don't do steemit for the money, I think a growing number may not find do that notion digestible because whether we like it or not, money plays a great deal of our being here, doing daily post and so on.
Thank you for the thought provoking content though, it was an interesting read.
I agree with you that steemit requires a lot of continuous hardwork and in return, you won't earn much, but far as Affiliate marketing is concerned, it is something way beyond the reach of a beginner. I think One should Learn How to write a good article, learn SEO and then try is luck with Affiliate Marketing. And Steemit is a Good Platform to practice our writing skills and get to know what readers want! Thats what i think! Do correct me if i am wrong! BTW thanks for the Post
I agree - it's the same effort almost that writing for Steemit already takes :)
true
Congratulation makerhacks! Your post has appeared on the hot page after 24min with 22 votes.
Thanks for this post. Yes its true i spend a lot of time here in steemit that sometimes i failed to do my household chores and i rarely get an upvote. Steemit is what all my friends are doing that's why I'm here too. I like your opinion and how you show us the differences of the income. I will find ways for that. Very valuable post indeed @makerhacks.
Those notes look kinda Canadian. Please add me on discord.