HEY, STEEMIANS
Today I'am going to tell you that how steem works in a very simple words and try to make you understand as easiest way as i can so there are plenty of ways to earn money through steemit and first of all lets look in to the wallet:
This is snap shot of one whale's wallet for the example i hope that he don't mind.
Steem:
These are trade-able tokens that You can turn in to your currency and you can also directly use it as a mode of payment any time but only if the merchant accept or exchange it in to your currency otherwise.
steempower:
steempower is actually your tokens which can be turn in to money only if you keep your tokens for three moths so the token will turn in to steem, then you can exchange your steem tokens with bitcoin and then exchange bitcoin with your local currency.
The more steem power you have the more you can get curation rewards so give votes as much as you can to help newbies it will come back to you in the form of curation rewards. and steem power value grow by the time depend on the steem value increases at the market cap and it is the steem power that decide your value in our community and the more steem power you have means you can vote anyone upto 5$ or more and if you are a newbie then your upvote power value is 0.001.
so it is really valuable for you if any whale starts to follow you.
It is your wallet where you can keep you steem tokens and if you have 50$ worth of steem power or tokens available then in one year if the market value increases then its value goes up to 500$ or more as per the predictions are.
steemdollar:
Steem dollar is offcourse the name itself explain what it is
It is the real money that you earn it in steem which is called steem dollar it same like steem you need to exchange it with bitcoin or any other coin to withdraw it. here is the link for that
https://blocktrades.us/
and you can buy things from
https://www.peerhub.com/
CONCLUSION:
Keep your steem tokens and keep them for the while if you want to be rich, some of the successful people here do not withdraw there money and turn there steem dollar in to steem power.
Here is one example
I think it help you to understand what steemit is at the basic level. Kindly upvote/ resteem.
and Kindly follow me to know how to make you contents look more attractive.
