Steem Dollars
Steem Dollars and Steem, which is interconnected with It. They are exclusively paired and move towards a common goal. There are minor differences between them, but they are both aimed at social development. Steem is a fairly young cryptographic currency, it appeared a little less than one year ago, but has already managed to overtake major players such as ether or bitcoin in the number of transactions. This happened due to the complete absence of the Commission on the Internet, also due to minor payments of a rather small size. The ease of use of this cryptographic currency has allowed it to gain such a high popularity in a short period of time.
In order to mine the cryptographic currency Steem Dollars and Steem you do not need to use the power of your graphics card or processor, all you need is your thinking. On the official website of Steem Dollars and Steem steemit.com this currency is used for the relationship between users and curators. In this case, the user is the author of various works, and the curator controls the process of the author. We will come to the topic of authors and curators a little later, when we discuss ways to earn this cryptographic currency. Based on this, we can understand that this technology is used for the correct work s a kind of decentralized social platform on which the authors of articles and their readers receive various rewards. For a start I would like to consider the exchange rate of the cryptographic currency Steem and Steem Dollars. The exchange rate of these crypto currencies differs from each other due to the factors that affect them. For example, the Steem exchange rate depends on the existing market. How Steem behaves will depend on the number of users of The system and the amount of currency they have on hand. And the cost of one coin Steem Dollars at the moment is$ 1.03 and ranges from 15% of this amount. Relative to BTC, one Steem Dollars coin is 0.00015911 BTC. To track the real exchange rate of the cryptographic currency Steem and Steem Dollars, there are special charts that work in real time. These charts can be found on the official website of the currency, they will help to predict the further change of the rate and determine the favorable time of login. During the earnings of these crypto currencies on their official website steemit.com using only your mind and thinking, you will face three different cryptographic currencies at once. Two of them I mentioned to you above, the third is called Steem Power. In order not to get lost in all these currencies and in their purpose, let’s take a closer look at why they are needed and how they differ. As we have already found out all of them are used on the site steemit.com, and are necessary for earning money by users and authors of this social network. However, in this system, each of the currencies has its own individual purpose, now we will analyze what.
Getting started on the site begins with a demonstration of your personal wallet. Your wallet consists of five lines with different values, three of which display the amount of your currency its approximate value and rate in real time. There is also a line called “Savings account”, it is an interesting system that allows you to transfer a certain amount from your Steem Dollars wallet to this account, and depending on the amount of assets you will receive an annual amount of 0.01% on Steem Dollars. Withdrawal of the balance from this account takes only three days. Such a large delay of three days for the withdrawal of funds from the account allows it to work as a safe. You can keep all your currency on this wallet and in the case of hacking your account, the attacker will not be able to immediately withdraw the entire amount, you will have three days to restore access to your account. The first line in the personal account shows information about the currency Steem. This currency you can safely display on various exchanges, to carry out operations with it within the system and share it with other users. One of the main features of the currency Steem is its ability to convert to Steem Power, for which it is necessary, I will explain a little later. In order to convert Steem to Steem Power you need to click on the small triangle next to It and select Power UP, and enter the amount of currency to convert.
So we came to the most important puzzle, why do we need Steem Power, which we can get by translating our Steem. This, as we will call it “Power”, is necessary for more earnings of cryptographic currency on the platform steemit.com Oh? This is your productive capacity, it works by analogy with the productive capacities of various enterprises. Themselves Steem translated into our force is actually instant, but the reverse process already takes a significant period of time. In order to withdraw all your earned money from the system you need to transfer your Steem Power to Steem wallet. In order to do this in your personal account, you need to click on the Power down button, this will start the process of transferring power to Steem. When I said that this process takes quite a lot of time, I meant that you have to wait thirteen weeks, during which the power will be transferred in equal portions. This process can be easily interrupted at any time.
Let’s move on to the concept of Steem Dollars or SBD. This currency has the same functions as Steem, it can also be transferred to different exchanges or used within the system. However, these currencies have two fundamental differences:
- for Steem Dollars we can not directly replenish Steem Power. In order to do this, we need to transfer Steem Dollars to Steem on any exchanges or with the help of other users, and then according to the familiar scheme we translate Steem in Steem Power.
- the rate of normal Steem can vary as pleasing and has no upper or lower bounds, the SBD has its fixed lower threshold and cannot fall below one dollar per coin. Also, part of any fee paid to the author using SBD, which guarantees the full cost of their work.
One of the features of your wallet is a system that shows the approximate cost of your entire wallet. This price includes the amount of all cryptographic currencies in your wallet, as well as the currency that is on the savings account. The cost of your account is tied to the exchange rate in dollars. Now let’s look at how we earn cryptographic currencies Steem Dollars and Steem on the site steemit.com Oh? On the site there are several ways to earn your local currency. As I mentioned earlier, you mine this currency with your mind and ingenuity. Every day on the site is formed a list of awards for certain actions for both authors and their readers, the total size of the awards in the list depends on the total cost of the entire currency in the system.
The total cost is divided daily among the following components:
- Users who vote to become authors written on the site. They receive about 75% of the total capital awards. Authors on this site are encouraged much more of their earnings in relation to users refers to 75% to 25%. The more popular your article is, and the more votes it gets, the more your own reward.
- Witnesses, the people on the hosting which is the database site steemit.com Oh? They receive about 10% of the total prize Fund for providing services and computing power.
- the Remaining 15% of the total value of the prize Fund go to the owners of the funds that are on the Steem Power wallet.
In order tostart earning Steem on the site, you need to register on The site steemit.com Oh? registration is very simple and fast. You just enter your email address almost, login and password under which you will login. Be careful to enter your e-mail address, as your e-mail will receive a confirmation letter to activate your account. Once you have activated your account through the mailbox, you will need to wait for some time for the moderators to check all your data. Usually it takes from one day to a whole week. If your IP and other data are not suspicious, you will receive a link with a private key, which you can use to log in to your account. Once you have successfully completed all the steps of registration, you can easily log in to your account and start earning cryptographic currency. At the very beginning, your Steem Power will be too small, and for certain actions in the form of likes, commenting or reading posts you will not receive anything. In order to earn normally, you need to accumulate a certain amount of Steem Power using Steem, by transferring them into force. When writing your articles, don’t forget to set your tags correctly. You can write up to five tags for each entry. Different tags will allow different readers to see your articles, which will allow you to get a different number of views. Basically, on this site, all authors try to write their articles using English, this is done to make their articles read more people. In this case, you can write articles in your native language, just in this case, they can collect fewer views and reviews. The funny thing is that on this platform a lot of articles are written in Hindi, Russian or even Chinese.
As a result, we can safely say that the steemit platform.somano deserves our attention. It is a fast-growing network that is being upgraded and improved every day. For ordinary users on this platform, you can find a lot of interesting articles and learn a lot. And the authors of new interesting articles, will be able to present their new work on this site, and earn just on views and reviews. The site itself is designed so that no one is left without a reward, in the end everyone will be satisfied. You know, the fact that you can earn money at the same time with the acquisition of new knowledge and experience already sounds good. Until recently, I would not have been able to think that there is something like this. I will be happy to use this platform, but whether you use it is up to you.
Do not forget that the site has a special bot that monitors the percentage of the uniqueness of your articles. Therefore, do not take articles from the Internet, for such violations you will be blacklisted, and your account will be blocked. In my opinion, it is best to write small articles, but quite often. Most earn those publications that with the help of pictures and text explain any things and teach them to people, such articles can earn $ 100 apiece. In order to place your article you just need to click on the Post button, which is next to your avatar in the upper right corner of the screen. After that, you will see a simple form consisting of three fields. In the first field you enter the name of your article, in the second its content, and in the last third field you write the tags of the article. Again, the main quality and prudent approach to the selection of tags for the article, it depends on their popularity. In the lower right corner of the form there is a pop-up menu “Rewards”, there leave the standard value of 50%/50%.