Get $5 Worth of Steem Power Using Blocktrades
Do you have $5 sitting in your wallet, doing nothing ? It could be used to 'power up' your steemit account, if you so desire.
After HF 19, you would have realized that earnings in steemit is according to the stakes (vests) that you have in the community. So, I just added 3.8 steem power (SP) to my steemit wallet by sending 0.03 DASH ($5.9) through blocktrades.
What Is Steem Power ?
According to the steemit whitepaper (page 8), steem power (SP) is one of the 3 different classes of assets in the steemit network . Besisdes, steem power (SP) are influence tokens.
Why Is Steem Power Important?
The more steem power (SP) you have, the more your influence in the steemit ecosystem. For instance, if you have about 500 SP, that makes you a minnow. Those who have about 5000 SP and 10 million vests are steemit dolphins. The more steem power you have, the more your author and curation rewards. In case you are one of those wondering why some Steemians earn more than you do. One main reason is because they have a lot more influence, steem power and vest wise, than you do in the community. So, up your game! Accumulate more SP either by earning from author and curation reward or by buying. I do both.
How to get $5 worth of Steem Power
It might sound too good to be true, but I just got $5.9 worth (0.03 DASH) of steem power. Here is how to achieve that.
Go to the steem power section on the right hand side of your steemit page and click on ''steem''. Two options will show up; power down and buy. Click on the ''buy'' option as shown in the above screen shot. That command will take you to blocktrades, the internal exchange of steemit.
When you get you blocktrades, enter the amount of DASH or any other cryptocurrency you would like to exchange for steem power (SP) in the ''send'' field as seen in the image above. The ''receive'' field will show you an equivalent amount of SP that you will receive on completion of your transaction. Next enter ''receive address'' in the field provided. This should correspond to your steemit user name, in my case it is 'maryfavour'. Note: Please, enter your own user name and not mine. If you mistakenly enter my username, your steem power will 'power up' my steemit account. Guess that would be quite interesting! The last step in blocktrades is for you to generate a DASH address by clicking on the button ''get a new deposit address'' . As soon as you click on that blue button, a DASH address will be generated like the one observed in the screen shot above. Next, copy the DASH address, go to your DASH wallet (online e.g exodus, jaxx, or hardware wallet such as trezor/ledger Nano S). Personally, I use exodus wallet (version 1.28.2).
First click on the blue ''send'' button in your DASH wallet and the command will make the dialog box shown above to appear. Enter the DASH address you copied from ''blocktrades'' in the ''send to'' address field, the amount of DASH in the ''amount'' field and hit the send button. Click ok and wait for a few minutes for the transaction to be complete.
You will receive equivalent SP from blocktrades as shown in the screen shot above. The transaction I performed exchanging 0.03 DASH ($5.9) for SP got me 3.802 steem power.
Happy 'Powering Up'!
Your friend,
Mary.
Thanks,this is quite helpful for a newbie like me.
You are welcome, @harbysco! Honestly, I had the newbies in mind when I was making this guide. You all are very dear to me. I have more to come for you so just make sure to check out my blog daily. A very warm welcome to steemit!
That was really thoughtful of you.
Oh thanks for the commendation.
Great info I am going to do this today.........UP Voted, Resteemed and Followed. Thank You
Thanks, @stokjockey. Glad that you found the guide useful. Please, give me a feedback and let me know how you fared after using my guide.I appreciate the upvote, resteem and follow. Enjoy the steem ride!
Thanks for sharing :) i was wondering how i could do that and this was a very informative information :D
It's my pleasure, dear @aleister. So happy that my guide is very informative. Please, give me feedback on how you fared using the guide. STEEM ON!
I have steem dollar, i am wondering how could i use it to build up my steem power?
Hi, @bobiecayao! Please follow this tutorial of mine, https://steemit.com/steemit/@maryfavour/how-to-transfer-steem-backed-dollars-for-fiat-part-1 . Please note: Instead of exchanging steem dollar for bitcoin on the blocktrades exchange like I did in the video, chose the option of steem power. Let me know if you still have any challenge regarding this. I would be willing to assist you. Cheers.
Thank you for this very useful tutorial..i did it. thanks..i will follow you.
Wow! I'm super excited that my tutorial worked for you and that you like it. Thank you so much for the feedback and follow. It means so much much to me. Feel free to share with fellow Steemians, who might need it at some point in time. Enjoy the steem ride, my dear bobiecayao!
Thanks for info! I'm powering up :)
Upvoted, resteemed and followed
Great, @thedamus! That's the spirit! I appreciate your upvote, resteem and follow. Keep 'powering up' . Be sure to keep the steem fire burning too. Cheers.
I've been looking for a write-up like this since my sign-up. Glad to see it here. Following you immediately.
@oyekanmireadone, really? Glad that you found my blog post useful. Thanks for the follow. Steem on!
Thanks for sharing
You are welcome, @steemit-joker.
Thanks for this ma'am, I see people and always advice them to power up, Steemit has inherent value apart from being pumped and dumped!
Using blocktrades can be tricky though, thanksnfor this. . . . i think I'll get a desktop wallet if available for dash, learnt my lesson with bittrex.
You are welcome, @destinysaid! Yes, advising folks to power up is a good one. Keep it up! It took me a while to figure out how to use blocktrades and generally how to use ''memo'' to transfer coins from an exchange to steemit. There is a desktop wallet available for dash. I downloaded it a long time ago. What we are waiting for is DASH evolution. Moreover, if you are using exodus wallet, then you wouldn't need to bother downloading a separate DASH wallet, since DASH is already integrated into the exodus wallet. The warning to all is NEVER LEAVE YOUR COINS/MONEY ON ANY EXCHANGE. I really appreciate your comments . Steem on!
Wow! Very insightful. @maryfavour, you are a real blessing to Steemit rookies like me.. Time to power up real good... thanks for this post.. :)
I appreciate your kind words, @sammie85. Yes, time to power up, especially now that the price of steem has been selling for below $ 1, https://steemit.com/steemit/@maryfavour/smart-steemit-investors-are-buying-more-steem-steem-power-below-usd1 . You are most welcome! Thanks too for stopping by. Steem on!
If Steem just hit $1 each.... then you got took!
@doesntmatter, I got some more steem at below $1 a couple of days ago, https://steemit.com/steemit/@maryfavour/smart-steemit-investors-are-buying-more-steem-steem-power-below-usd1 . So glad . Thanks for stopping by.