Most people don’t know what steemit is all about prompting the question, “how does steemit work”.
Steemit, in simple terms is a social media website, whereby you create original and high quality posts just like a blogger but you get paid for your posts. Steemit is one easy way for you to make so much money from the content you have created. Steemit operates on a block chain and makes use of a cryptocurrency called “Steem”.
How Does Steemit Work?
Just like I stated earlier, you basically make money from steemit by posting high quality posts. But there are other ways you can make money from Steemit apart creating posts. You can also make more money or Steemit by upvoting and also commenting on various posts. Easy right?
When you posts contents on Steemit, you earn a reward as an “Author” and when you comment or upvote, you earn a reward as a “Curator”.
Do note that there are three (3) different types of Steem:
Steem: Like I earlier stated, the name of the cryptocurrency Steemit uses to reward its participant is called Steem.
Steem Power: As your Steem power increases, you will get more rewards as an Author and Curator. This means as you create contents on Steemit, comment and also upvotes, you will get rewarded and your reward depends on your Steem power. The more steem power you have, the more value your comments, posts and upvotes have. Growing your follower base can improve your Steem power.
Steem Dollars: You get paid Steem Dollars but you can’t certainly spend Steem Dollars in any country. It is not legal and acceptable in any country and so all you have to do is to change your Steem Dollars or Steem into Bitcoin and for example, use Coinbase to sell your Bitcoin into USD.
Note that you can also change your Steem or Steem Dollars to Naira to other currencies.