What Is Steem And What Is Steemit? Both Of These Questions Will Be Answered Here.
Everyone that first hears about Steemit usually asks what it is and what Steem it and how do they work. When there is something new it is best to ask a lot of questions and make sure you understand what something is and how it works. This question and answer sessions isn’t going to throw you a bunch of lines about getting rich on Steem as it has done that for people but that isn’t what it is all about.
What Is Steem? Steem is a digital currency. Steem is a block chain. Steem is a crypto currency. Steem is a semi decentralized digital currency. Steem isn’t a lot of things that you here about online. It isn’t a magic pill. Steem isn’t the cure for being lazy or out of work. Steem isn’t a place. Steem is an idea. Steem is a theory. Steem is a crypto currency that can be traded internally or through exchanges. Steem has zero transfer fees internally p2p. Steem is pretty fast as far as block chains go. Steem is growing but Steem isn’t perfect and Steem still has some flaws to work out. Steem Is Not The Same As Steem Power Though Steem Power Can Be Converted To Steem. SBD is not the same thing as Steem but it can be converted to Steem. Steem is liquid or fluid in the sense that for the most part you can trade it for other currencies using an exchange.
Here are a few great resources to learn more about what a blockchain and what a crypto currency or digital currency is:
What Is Steemit? What Is Steemit.com?
This is the same Question. Steemit and Steemit.com refer to the website https://Steemit.com. Steemit.com is a website that allows bloggers to write articles and earn revenue from a community pool of rewards. Steemit.com is a portal to the block chain. Users that wish to post data to the blockchain to earn rewards can do so using Steemit.com There are other portals to the block chain also that allows members to do many of the same things that Steemit does but better.
Most people will have their first interactions with Steem, unless they are currency traders, will experience it using Steemit.com. You will need a wallet to store your STEEM in and you can get that and your keys/passwords from Steemit.com the easiest. Steemit has many uses also. It is a place to vote for witnesses, trade STEEM or SBD in the Internal Markets. Write Posts On Steemit.com and gain followers. Though alot of this is being built on other platforms that maybe do a better job at handling these tasks.
Steemit allows members a place to experience a writing environment where authors get paid to write. Please don’t blow this way out of proportion. Some posts do great and are often promoted to do so. Others can be of a better quality with a better style but earn pennies if the writer doesn’t have a strong active following and often will not earn much even then if the post is not promoted. There is potential to earn from writing but the best bring their own following and do a lot of things correctly early one to become successful. Steemit is pretty amazing because in some countries a few dollars can feed their family for a day so writing several posts per day for 0.50 SBD each pays the bills. In other developed countries do not expect to get rich but enjoy the experience and who knows…Maybe Steemit Will Explode One Day And Be Worth A Lot!
We Will Look More Into The Rewards Pool and How The CryptoCurrency / Semi Social Media Platform Works In Another Article..