It has already been a month since I joined Steemit. At first, I was really sceptical about it, where does the money come from, why are the rewards so high, why is there so much spam, etc.
After, a while I figured out the answers to my questions about Steemit and realized that everything here is designed quite well and there's a team that makes sure everything stays balanced.
Seeing the top posts making hundreds and even thousands of dollars, Steemit looked like a get rich quick opportunity. Even comments sometimes receive ten or more dollars.
During my first month the H19 was released, which increased the payouts of my posts around 3 times so, I was really hyped about all of this and was spending a ton of time leaving comments, writing a post here and there, but quickly realised that it's not that easy to go big.
Even though the payouts are huge it takes time and effort of building your following until you can start making real money here.
So, I got kinda discouraged and started spending less time on Steemit. Also, the SBD and Steem prices started to go down shrinking all the rewards along with my motivation.
Overall, I still managed to achieve decent results.
I reached 41 reputation points, earned 14 Steem that I put into Steem power and I almost matched what I got delegated to my account. Built a following of 100 people, which is quite an achievement.
The biggest help growing like this was the minowsupportgroup bot, which can upvote your new posts and you can usually get around $1 right from the get go, which helps a lot to boost your post.
You can use it twice a day so, you could basically earn around $60 a month just from that.
If you combine minnowsupport bot with randowhale you can easily boost your post into the hot category and get a ton of extra exposure.
My plan for the next month is to continue growing my following, because that is the most important thing here. I started a series of posts where I do a quick market analysis and Steem price analysis daily. Will, see where that will get me in the next month.
congrats! persist and abide.
Thanks :)
HIIII!! Congrats on 1 Month! We also just completed 1 month today actually. Reading what you wrote we could definitely relate. It was all so new, but through the highs and lows, we stayed persistent!
Never heard of the Minnowsupportgroup bot, nor the Randowhale...??? Any help would be great!
We also still don't quite understand the powering up like you mentioned with Steem and Steem Power!
Best of luck to you, truly and any direction if you have a second would be great!
Steem is the currency that you can use in the Steem market and if you want you can exchange it to US dollars or euros, etc.
You can convert your Steem into Steem Power if you like. Usually 50% of your rewards automatically go into SP. With more Steem Power your upvotes increase in value. So, right now I can only upvote for $0.01, but with time I can grow it to $0.10, $0.50, $1 or even more and that helps you to boost your own posts also, when your votes are worth more people are more likely to comment because they hope you upvote them and all that good stuff :)https://steemit.com/@minnowsupport Go take a look at this account, ideally you should find a quick guide how to join, there's plenty of them out there so, don't want to go into too much detail. Check this account for randowhale: https://steemit.com/@randowhale and you should also find a quick guide how to use it.
Great info thanks... SO if I own Steem altcoins outside of Steemit would it be worth my while to transfer some across and convert it to steem power? Sort of like an extra investment would you say as it also works for you in another way?
Yes, it would be a good idea, unless you would want to have them liquid., meaning selling them quickly because when you invest in Steem power you need to wait a few months until you get out your investment.
What would you say is the minimum investment to make a noticeable difference?
Right now to raise your voting power by $0.01 you need around 25 Steem Power.
Steem price currently is relatively low so, you could also earn by holding it.
Ok thanks so much for the info!
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