It is easy. After you send the money for the bounty, your post appears in Steem Bounty webpage
At the end of the reward period of 7 days, the rewards are distributed proportionally to the voting power that you used to upvote every comment. Upvotes by other people also affect the reward but the effect is much lower.
The fees for using the service are:
- Bounty fee of 5% if the bounty has been created via a transfer
- 15% Reward share of the bounty post and 0 fee on the bounty itself if the bounty has been created via our website