Hey guys, have you tried blogging on Steemit yet? I do it every single day and I have actually earned more from Steemit compared to this blog.
What’s awesome about it is that you don’t have to do any affiliate marketing. Not all of us are great marketers and we struggle in that section. Why not share your passion and be paid simply for writing?
So what is Steemit?
It’s basically a blogging cum social media platform that is based on blockchain technology. I believe it will be the new Facebook, or rather Facebook 2.0, as content creators are rewarded for their hard work. You can be rewarded for your posts and also for your comments.
You can even join contests held on Steemit where you may earn money for winning them. There are all kinds of contests, including writing, guessing, singing, art and so on. Anything that is imaginable can be rewarded.
Rewards on posts and comments are not fixed of course. They are based on upvotes by other users. Upvotes are not created equal.
What determines the value of upvotes?
Of course, upvotes are not created equal. Those who invested more money into the platform will have bigger upvotes.
That’s where the concept of Steem, Steem Power and Steem Dollars comes in. Steem is basically the cryptocurrency that runs the platform. The value of Steem fluctuates according to the market. Steem dollars on the other hand is pegged to $1 USD. Hence, 1 Steem Dollar (SBD) equals 1 USD. Whenever you get your payout, it will be in the form of Steem Power and SBD. You won’t be rewarded liquid Steem.
Steem Power determines how strong your upvote is. It’s not liquid where you can sell them off at any time. You need to power down and it becomes liquid Steem. However, it takes a few weeks to power it down completely. It’s fixed that way probably because it prevents people from just moving funds in and out so quickly. We want people to be vested into the platform.
Hence, a person with 1 million Steem Power (worth more than 1 mil USD), can definitely give bigger upvotes than those with only 500 Steem Power.
So will we all be rich on Steemit?
No. Blogging on Steemit is not a get rich quick scheme. You’ll see some with $100+ payouts each post and others with just $1 payouts. Some are luckier than others and some are perhaps more talented in writing or art. If you have a rich user following you and upvoting your content, then you’ll surely do better than the others.
Hence, don’t get discouraged when you don’t make much in the beginning. Even if you earn $1, it’s more than what Facebook, Instagram and Twitter have ever paid you, which is ZERO.
If you keep creating quality content, you’ll be recognized by some power users sooner than you know.
How do you categorize users on Steemit?
We generally categorize users into 3 categories, i.e. minnows, dolphins and whales.
Minnows as the name suggests are for those who barely have enough Steem Power. Generally, those below 5,000 Steem Power are minnows and they form the bulk of the Steemit population.
Dolphins are slightly richer as their Steem Power is around 5,000 to 49,999. Those who have 50,000 Steem Power and above are generally whales.
As whales can reward you with a big post payout, many users tend to network with whales for obvious reasons.
What are the perks of blogging on Steemit?
- You don’t need to get a hosting company. You can save some money here.
- It’s basically like social media except that you blog on it. It’s nice to network with others on Steemit and you won’t feel so lonely as compared to blogging on WordPress.
- It doesn’t take long before you start earning. Sure, you can make much more blogging if you’re successful like Darren Rowse or Neil Patel, but it takes a long, long time. Rewards from Steemit come faster.
- You don’t need any start-up costs, except your time used to write.
- It introduces you to the whole new world of blockchain technology and cryptocurrencies. More people are joining, including Kevin Rose, the founder of Digg! Check out his Twitter account to find out.
Disadvantages of blogging on Steemit?
- You don’t own the domain. If you were thinking of joining free blogs like Blogger or WordPress.com, maybe it’s better to just use Steemit if you’re not interested in self-hosting.
- The server goes down sometimes since it’s still in Beta.
- Cryptos are still volatile in nature.
How to sign up?
Just go to Steemit and register for an account. Each account is tied to a phone number. It’s to prevent people from registering too many accounts for free. It may take a few days before your registration gets approved, so be patient.
A second way of getting an account is a paid way. It’s instant but it costs 10 Steem. Use Anon Steem Network to get as many accounts as you want anonymously.
One of the most important things to remember is to NEVER LOSE YOUR PASSWORD. There is no password recovery, since Steemit is based on a blockchain system. Only you have control over your keys (password). Keep a copy of your password online and never reveal your password anywhere on the internet.
The keys are long and random, so you probably can’t memorize it. Just keep a copy of it.
That’s it! When you sign up, there’ll be a guide for you. So do read up before you join as it takes time to familiarize with this whole new blockchain world.
In a nutshell
Steemit is definitely revolutionary and I see it becoming social media 2.0 in the future. If you’re bad at affiliate marketing or you don’t make much blogging, why not start blogging on Steemit?
Thanks everyone for reading!
If you’re into the traditional blogging on WordPress, I have a free email course you may want to check out.
New coins distributed
There are also new coin airdrops that you may want to look at. These companies are giving away a portion of their coins in the hope of getting investments. Sign up here to get your free tokens. They are affiliate links.
WCX – Link
CoinStarter – Link
Swiftdemand – Link
Buy your Bitcoins here
Here are a few ways for you to buy Bitcoins. You need Bitcoins if you want to buy other altcoins. These are referral links.
xCoins – Link
Coinbase – Link
Localbitcoins – Link
CoinMama – Link
Get a proper Bitcoin wallet
Trezor – Link