Which Cryptocurrency Should You Invest In Before 2018?

Steem is a token that is used on Steemit (an incentivized social media cum blogging platform). It comes with Steem dollars as well, meaning there are two different cryptocurrencies on that platform. However, Steem dollars is pegged to $1, unlike Steem which depends on market forces.

I think it has value because of Steemit itself. When you look at social media platforms like Facebook and Twitter, they are not incentivized. There’s a better chance that you’ll need to pay them to use the platform, than to make money from it. Steemit on the other hand, allows you to make money in the form of Steem and Steem dollars, simply by posting quality content. This means that you can actually blog for money on Steemit, although how much you earn depends on who upvotes your content.

On Steemit, you can power up your Steem into Steem power. Your amount of Steem power decides how much your vote is worth. For instance, if I have 1,000 Steem power (equivalent of 1,000 Steem), my full upvote is worth $0.20. However, when you have 500,000 Steem power, your full upvote can be around $100. See the big difference? In other words, you are encouraged to put your money into Steemit.

Furthermore, if you want to withdraw money, you need to wait 3 months for the power down to fully complete. This discourages people from moving money away from Steemit, and therefore maintains the value of Steemit. To make a lot of money from Steemit, you should network well with all sorts of people, including those with a high amount of Steem power, a.k.a. whales.

Currently, Steemit only has about 300,000 registered accounts and slightly above 10,000 active daily users. Imagine if it becomes mainstream like Facebook. Will the value of Steem rise tremendously? We’ll see.