The TRUTH about making money on Steemit (For Newbies)

3 months ago
54 in steemit

making money on steem.jpg

Money for nothing!

When people sign up for Steemit they often do so because a friend told them they could make money just by signing up and posting content to the site.

Well, that's not exactly true.

Here is the truth on the matter...

invest in steem.jpg

You make money on Steemit by signing up, investing in Steemit, and then posting content.

Why?

The more Steem you have in your account, the more you are rewarded for your posts, comments, upvotes and other actions on the site.

And, with more Steem you can GIVE more rewards to others, which helps you to build a following that will upvote your posts.

How do I invest in Steemit?

You can invest in Steemit through:

1.) sweat equity (posting content, commenting, upvoting, resteeming, etc. (the rewards start small, but they grow.))

or you can invest by

2.) buying STEEM and holding it in SteemPower.

If you haven't put Steem into your account in one of these two ways you aren't going to make any money.

Of course, there are always exceptions. You could write a post, it could get shared by someone with a lot of Steem in their account, and you might make some money.

It happens, but it is the exception to the rule.

So, if you want to get it right and have a profitable experience here on Steem, don't think about how you're going to make money from Steemit, think about how you are going to INVEST in Steemit.

The money will come later on.

And THAT is the honest truth!

Good luck and STEEM ON! :)

Image 1

Please Upvote and RESTEEM this post to help a newcomer!



More of my posts:

A "Game of Thrones" Coin?

A custom token turns every business into a crypto dealer. [Read more]

STEEM = Steam? or Self-Esteem?

Which of these two should STEEM be associated with? [Read more]

My Incoming Links Post

I'm donating SEO link juice to Steemit and you can too! :) [Read more]

STEEM Growth Outpaces Bitcoin!

During the past 60 days STEEM has largely outpaced BTC! [Read more]

Follow me @trevorlyman

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Sort Order:  trending
58
  ·  3 months ago

Money does not come for nothing. Never. Nowhere. Even here, on steemit. It comes as a reward, for content. And only for a GOOD content. For those who invest their time (remember?time=money), who share their knowledge, experience, creations, advice, critiques, encouragements.... who is ready to accept risks, makes a honest study of the field of investment....you name it, .... the list goes on and on.

I'm in cryptos for a while, and had a colorful life before the Satoshi era.

Want more advice from an old (63) man some time in the future? It's easy. Just...follow me :)

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57
  ·  2 months ago

yeah ,my man ,baltic power :)

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53
  ·  2 months ago

great tip @onealfa you are really great

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54
  ·  3 months ago

Thanks @onealfa! Great advice. :)

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41
  ·  2 months ago

Thanks for that..."the Satoshi Era". nice.

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39
  ·  2 months ago

Following

47
  ·  2 months ago

I agree. When you start with Steemit don't think about making money. Start with studying the system to find out how Steemit can work for you in the best possible way.

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41
  ·  2 months ago

and what is the short answer to that question ? Can help me save some time research

56
  ·  3 months ago

That is the truth. You choose how you'd like to invest. But you will not make money without the investment.

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54
  ·  3 months ago

Let's hope more catch on so they stay on with us! :)

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56
  ·  3 months ago

I'm not quitting. This platform will be so mobbed soon, you'll want a waiting list for new accounts.

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54
  ·  3 months ago

I agree! With the way crypto is going, and the things that this platform is doing, we're in the right place at the right time! WOOOT!!! :D

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56
  ·  3 months ago

Agree totally. Followed and upvoted.

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41
  ·  2 months ago

Its my day 1 today.. Resteem helped me with $0.50 .. Too good to be true or I am missing something ?

59
  ·  3 months ago

Top advice. I like to think of it as a small business: when you first start out you are an unknown. You may get a few passing people into your shop to be nosy but if it's not welcoming and looks kinda rough, they won't become customers. You must invest to get your shopfront looking nice and you have to provide something of value. You also have to earn trust in both you and your product.

Only then will people come flocking in and become paying customers.

Your blog is your shopfront. Your posts are your product. You provide the customer service.

Picture source

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54
  ·  3 months ago

Good comment and a good movie to boot! Thanks @gmuxx! :)

52
  ·  3 months ago

...well written....there is so much to know about the entire STEEMIT community...
im new here as well and i take it slowly and get my head around.....
thanks mate....

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54
  ·  3 months ago

Glad to hear it! It's a snowball here (or a steemball?) growing slowly and picking up speed. Slow and steady wins the race!

41
  ·  3 months ago

Amen to that bro

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54
  ·  3 months ago

Thank you! :)

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41
  ·  3 months ago

Hey your making an effort and its all tangable keep up the great work..

56
  ·  3 months ago

nice post...upvoted and resteemed...can u resteem a few of my posts as well? thanks

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54
  ·  3 months ago

Done! :) And thank you!

51
  ·  3 months ago

Nice Posting! Just upvoted and followed you, can you please do the same for me?
Thanks a million!

Please resteem it if you can :-)

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54
  ·  3 months ago

Ok, but you might want to Resteem first if you want someone else to? I rarely do it back though, unless I see something I like. :)

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51
  ·  3 months ago

done

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54
  ·  3 months ago

Thanks! I'll keep my eye out for something. :)

44
  ·  3 months ago

Perfect! You gotta have skin in the game!

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54
  ·  3 months ago

Thanks! Yeah, I think if more newcomers understood this they wouldn't get frustrated and quit!

48
  ·  3 months ago

wow i didn't know this, thanks :)

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54
  ·  3 months ago

You're welcome! :)

47
  ·  3 months ago

Hey Trevor Lyman! Thanks for your post. I'm new too. Just posted my first one yesterday. I like the simplified version you wrote. It can get so complex and I find it difficult to make sense of it all sometimes. I like when you say "you need to invest in Steemit". That's the idea I had gotten as I read the how-to posts. And you're right, it was my dad who told me about it! 😉

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54
  ·  3 months ago

Hi Muse - I'm glad it could help! A lot of people get frustrated because they don't understand what is happening and then quit, which is a shame. I think the future looks pretty bright here. :)

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47
  ·  3 months ago

I agree! Thanks for doing your part!

36
  ·  3 months ago

Hey thanks to the true author for the info!! Followed

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54
  ·  3 months ago

Thanks @yoopstar!

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36
  ·  3 months ago

Sharing an article is one thing. Hopefully it was a noob mistake. But. Sharing a steem post on steem is odd either way. Very good info thanks

61
  ·  3 months ago

Well said my friend.

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54
  ·  3 months ago

Thanks! :)

52
  ·  2 months ago

I cannot agree

As far as I know Steem Power is only used to upvote others and give them a reward - not to make any.

You get a reward only if you post good content - but don't expect to make 500$ over night / article - it takes at least 1 year of trust building to touch such levels

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54
  ·  2 months ago

I think there is plenty of bad content that gets rewarded on this site, because I have seen it happen many times already. But certainly you are right that putting up good content is the best way to go.

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52
  ·  2 months ago

I can see it as well !! A lot of people post something just to make some money - but - there's also many users not caring too much about the sensational and just sharing their expertise or nice genuine articles with others.

You wrote a nice post but - what I cannot agree with is the idea that one should make money buying Steem Power.

I will be more precise - The steem power an account have - will only be used by steemit.com engine system to reward other accounts and not the account that holds it.

If you have 30 000 Steam Power you can upvote other account's articles - but in no way the system will reward you more $/ article for posts just because you have 30 000 Steam Power.

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52
  ·  2 months ago

so Steam Power has been desined to reward others not yourself.

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54
  ·  2 months ago

I think it's a bit of both. Pay attention to comments with votes on them and notice how sometimes people vote for their own comments. I'm not saying it's a good thing to do, and I'm sure some take issue with it, but you can do what you like.

Again, I think it's best to give it out to others because it will motivate them to follow you.

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54
  ·  2 months ago

I think that isn't true. Your voting power changes according to how much Steem you have. Check this tool: http://www.steemdollar.com/dollar_per_vote.php?name=trevorlyman

It seems to me to be about half a cent per 100 Steem you have. So, if you have 1000 Steem you should have 5 cents per vote. If you have 10,000 Steem it's 50 cents a vote and so on.

If you vote for yourself, you do get the amount of your voting power, so you do get a little more.

But other things start to happen as well, like you get more followers, because people know that you have Steem to give away in your upvotes and comments, so they follow you so they can interact with you more often.

All those extra followers mean more upvotes for your content, and so on, and so having more Steem helps you to grow because it is like a magnet for attention from other Steemians.

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52
  ·  2 months ago

Hi Trevor

I see the tool - nice one!!

I tell you what I think

If you vote for yourself, you do get the amount of your voting power, so you do get a little more.

... I didn't see this anywhere until now. It sounds like an anomaly to me. Why should your voting power go to your account if you upvote your article - question.

So - I think the self-upvote has been implemented just to make possible the account comments priority organization in case you write more than one.

... my acknowledgement is that Steam Power is not a value than is transferred by vote - but the indication of how much voting power you have per vote.

If you vote an article - and the articles go up by 1 cent you don't lose 1 cent of your voting power - do you?

The "money" that the article receives is generated by the process of mining. This is how it works as far as I know

But other things start to happen as well, like you get more followers, because people know that you have Steem to give away in your upvotes and comments, so they follow you so they can interact with you more often.

Sure, naturally. But if they will follow you for your steam power - their interaction will not be genuine - will be? The consequence of not genuine interaction is poor quality of content and comments.

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54
  ·  2 months ago

You get 20 votes a day at max voting power. After that it goes down (the value of your vote goes down). So, yes, you do have $0.01 less voting power when you vote for someone with a $0.01 vote.

You can vote for yourself and you'll see people do it all the time, but it's probably usually better to vote for others so they will want to follow you, etc.

Are the interactions genuine? Not all of them. Many people vote on posts simply because they know the post will do well and they want to get the curation rewards, but remember, the people getting those votes put a lot of money into Steem, and in order to motivate people to out money into Steem, they need to get some of their investment back. If you put in $50K how long are you going to keep it in Steem if you're not seeing a return?

So it's not always about the best content, BUT as there are more people with powerful accounts, so to are there more options in terms of content, and given a choice between two posts from two whales, people will go for the better post. So, you don't perfectly get the best content at the top all the time, but you do get a lot of good content at the top most of the time.

I think learning more about voting bots and follow trails will help you to see this is true.

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52
  ·  2 months ago

Hi Trevor,

Thank you for taking the time to post a response.

You get 20 votes a day at max voting power. After that it goes down (the value of your vote goes down). So, yes, you do have $0.01 less voting power when you vote for someone with a $0.01 vote.

I know what I mean is that the voting doesn't get the value out of your Steem Power.

You can vote for yourself and you'll see people do it all the time, but it's probably usually better to vote for others so they will want to follow you, etc.

I think that the system have somehow a CAP/LIMIT and self-upvote steem dolars and steempower is not actually paid out.

Are the interactions genuine? Not all of them. Many people vote on posts simply because they know the post will do well and they want to get the curation rewards, but remember, the people getting those votes put a lot of money into Steem, and in order to motivate people to out money into Steem, they need to get some of their investment back. If you put in $50K how long are you going to keep it in Steem if you're not seeing a return?

Sure - if I invest 50K in something I will pretend to get something more back.
So Curation Rewards is a nice way to make a return. It turns out that 90% of new steem is actually distributed to accounts having Steem Power and 10% to content creators - curation rewards included.

So it's not always about the best content, BUT as there are more people with powerful accounts, so to are there more options in terms of content, and given a choice between two posts from two whales, people will go for the better post. So, you don't perfectly get the best content at the top all the time, but you do get a lot of good content at the top most of the time.

I agree - Good content happens because of rewards - there are good people out there with a lot of genuine knowledge that looks forward to make a blog on steemit because they receive some reward.

Basically - as far as I can see - you can make money with Steemit only if you have some expertise in some field and you comment/curate content OR if you create valuable articles. - without - this actions as investor in Steem Power I cannot see a nice return - if I just park my investement value on Steem Power. Or can I ? Tell me if that is wrong.

Thank you

Best

43
  ·  2 months ago

Money for nothing and the steems for free.

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54
  ·  2 months ago

I want my, I want my, I want my Steem for freeeee!

Video didn't work for me though?

44
  ·  2 months ago

Thanks for the info. There is still so much to learn and understand about this new platform

66
  ·  3 months ago

This post has been ranked within the top 80 most undervalued posts in the first half of Jun 05. We estimate that this post is undervalued by $11.45 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Jun 05 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

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54
  ·  3 months ago

Quick! Somebody call a whale! :D