Every day new users are arriving at Steemit.com (a social network and blogging website) in a hope of earning some rewards. But First, they have no idea like me as they got started, As a Beginner, Some of them got confused and give up too early because they don't have any specific path to follow and the value of these concepts. Here in this post, I will walk you through each term and how to get improvement consistently by knowing each of them.
Let's get Started
Every new user on Steemit as they got an account. They are probably wondering about these terms and their differences and how to Improve. Again They raise a lot of Questions in their mind about each of these terms, What is steem, steem power and steem dollar? What is Reputation Score and how to follow the right path to improve it? How to get more curation rewards? and they Mostly think Why we need to understand all these terms and how These will worth us?
No worries Steemian, You came the right place. Below is step by step guide to get the answers About each of these terms.
Steem
Steem is a liquid currency, which is the building blocks of the other two terms Steem Dollar and Steem power. It is used to power the steemit platform. You can easily buy steem and sell it to the open market and can exchange it in any other cryptocurrency. It is better to not hold on steem for a long time because it fluctuates so much and lose value.
Steem power
Steem power defines the power of steemian, It is a long-term investment in the steemit network, It increases your voting weight. So the more you increase your SP which basically refers to power up the more you become an influence on this platform.
By having more SP you will get paid more from curation rewards. The good part is that when you upvote someone's quality content, They will also get more rewards as an author. So basically it is a great way to help bloggers.
If at any moment you decide to cash out some of your SP, So you can do it by Powering Down. But they pay you on a weekly basis over the span of 13 weeks, Just to make sure the users don't cash out all at once which crash the steem market price.
Steem Dollar
Steem Dollar(SBD) is the steemit currency, which is basically a stable currency and always worth 1 US dollar each in value. So whenever you write quality content and you get any reward from the community, the author's reward gets split into two categories mean 50% pay per post is going to be SBD while 50% is SP(steem power).
If you'll hold your SBD in this network, So you'll get 10% of interest per year. Otherwise, you can convert your SBD to steem or any other cryptocurrency and simply sell it on the open market for cash. Or wait until the SBD value goes up and sell it at the higher price.
You can convert Your SBD into SP for long-term investment and get biggest rewards.
Reputation Score
When you look at your profile, You've already noticed a number next to your name which is called a Reputation Score. The reputation score is in the range of minimum -25 and maximum 80. Every steemian has a reputation score of 25 by default as they created a new account.
People love to read the content of authors by having higher Reputation scores because this number defines their reliability and there is usually a greater chance that they produce high-quality contents.
How to Improve Your Reputation Score
There are some ways that you can increase your reputation score organically and consistently by following these rules.
When you get upvotes on your posts or comments from people who have higher ranked reputation score or users who have more amount of SP, can increase your score, But your own SP amount doesn't increase your score in any way.
It also depends on the strength of the Upvote that users give. e.g: If you get upvoted with the strength of 100% by the higher rank user, You score will increase more than the 50% vote.
Write always Quality content that compels the users to read and upvote your content.
Try to create a good relationship with other users by commenting on their posts, reply to their comments, resteem their posts and follow each other.
Decrease your Reputation Score
Your score will drop by getting the number of downvotes/flags on your post by the users who have the better score than you, Not a user who has less score than you. Nobody downvotes you until you post plagiarism(Stealing others content or photos) or abusive content.
Curation Rewards
There are two ways that you can earn a reward at Steemit, The first is the Creator who basically produces the Quality content and the second is Curators who earn by doing upvotes on the good post. Curators can also earn by writing good comments because If the people or authors like your comments so they will upvote your comments and Both of the way you earn as a curation reward. The author earns 75% of the post reward while the curators earn 25%.
Note: Always give value to good content, If the post is by the well-known authors or newbies.
How to Earn More
You'll make more money as a curator, If you're the first to find a post that you think it becomes popular and Upvote earlier than the rest, then you'll get the most curation rewards.
A user with higher Steem power earn more curation rewards because their vote carries more strength, but you can also earn good money too even with less SP by upvoting good post earlier.
If you're the first to upvote a post, you'll get more rewards, but if you upvote too early after the post is published then all the rewards go to the author.
It is always better to wait for 15 minutes after the post is published then upvote the content because between 15-30 minutes the rewards divided 50% to the author and 50% to the curator.
Conclusion
If you write good content and follow the above rules then nothing can stop you from getting success in this network. One thing you have to bear in mind that you can improve your reputation score as well as your reward by putting effort consistently.
Now I'd like to hear from you about these all terms, Maybe I missed something. So please share your thoughts in a comment below.
This post has been resteemed from MSP3K courtesy of @isaria from the Minnow Support Project ( @minnowsupport ).
Bots Information:
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Thanks @msp3k for resteeming my post.
You guys are doing a great job by supporting the newbies and respect the Quality content.
Hi @mslifesteem. I'm rewarding authors and followers like you who contribute authentic original content to steemit by adding their names to my upvote bot. You should see my upvote appear on most of your posts going forward. Thanks!
My pleasure, I am happy that you liked my content. It would be appreciated that you reward me for my effort. I try my best to produce more Quality and informative contents.
Thank you @oropeso.
Thats i great summary of how the STEEM platform and social-media-based bock chain works!
New users will have good use of such a great post!
Just rememeber that there exist many opportunities on the STEEM platform that can improve your growth as both an author and curator (increase influence level).
SteemFollower is a great program for those who are new and are looking be active on the platform. You can read all about their service right here:
https://steemfollower.com/?r=11204
Other than that, I think the post was great @mslifesteem
Thank you @johnasp96 for reading a post.
Yeah, definitely Steem platform is full of opportunity for the author as well as Curator. So I believe to share quality content to this community because they are very supportive and engaging.
Once again thank you for the source steemfollower website.
No worries! Always looking for that good quality content :D
It is very important for new users to know all this stuff.
Yeah, you are right!
Thanks for your support.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by mslifesteem from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
Nice write up @mslifesteem! This is a great summary of the topics that are confusing as a beginner on Steemit. 🙂
Thanks @jeffbernst for your kind words.
Yeah, Every new user struggling with these concepts after creating an account on Steemit. So I thought I had to explain these concepts in simple words so everyone can easily understand it at one place.
Honestly...this is the best informative post about steemit I have ever read
Thank you @saihamkayes for reading. I really appreciate you for your commenting.
I totally need this post. Need a lot of catching up to do. I am resteeming this pls. Thanks.
My pleasure @sakura1012 that this post is helpful to you.
Thank you for resteeming.
Thanks was useful post
My pleasure and I am happy that my post is useful to you.
Thank you for the support.
Very informative for a newbie like me keep it up the good work! @mslifesteem :D
Thanks @piratemonki for your nice feedback.
keep visiting my blog, you'll see more quality & informative contents in the future.
very helpful, thank you! Is there a limit to how much you can upvote things in a day?
My pleasure and thanks @cryptsheets for your nice comment.
You can vote as many times as you want, but the negative sign is that you'll get very less curation rewards after a certain number.
It's good that you should not upvote more 10 to 11 times a day at 100% voting weight to keep the balance.
I like how you write this guidance. Easy to understand and all in one pack. Thank you :D
My pleasure and thank you @andeladenaro for your nice comment.
I try my best to write an easy to understand and detailed article so everyone get more benefits from it.
You can check my next post.
https://steemit.com/steemit/@mslifesteem/steemit-seo-1-the-ultimate-guide-to-on-page-search-engine-optimization
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