[Steemit-Tip] Buying Steem, High Rewards
So my fellow Steemians. What I notice is that minnows aren’t investing in buying Steem or Steem Power. The price is relatively low at the time of writing (around $1.35) and it can help you boost your earnings if you invest it in Steem Power, but also the price will eventually rise with at least 100% in the future. Thus it’s a great time to invest.
Example:
In November 2016 the price per Steem was $0.16 and now it’s $1.35. That’s a big increase and in a year or so, your Steem will be worth way more than it is now.
So today I’am talking about why minnows aren’t buying! (But you should!)
The holding back factor
Yes, this is a big deal and there are really valid points on why you should not buy and invest in Steemit.
- It cost you money that you might need now. Of course you can invest as much as you want. But let’s face it, it still costs you money now and in turn doesn’t let you buy the things you want on short term.
- It’s still cryptocurrency thus a (high) risk investment. The future is always unsure and we recently had a big dip that set back all the coins on the market. So you might even lose money
- You don’t know the platform really well and you don’t want to invest in something you don’t really know yet.
- You can earn it anyways on Steemit. Why buying?!
All valid points. But why should you buy?
Well there is this saying “High Risk, High Reward” . The more you invest in this platform, the more the platform rewards you when it grows bigger and bigger. You will earn more rewards when your Steem Power is higher. If you really like Steemit, buying shouldn’t be an issue in the first place haha!
So, when you buy Steem Power, your upvotes will be worth more thus you can spread more rewards. It will also attract other minnows to vote on your posts because they want your valuable up vote. You will actually get double your rewards because the Steem Power can be powered down into Steem and sell it and while you have the Steem Power, you can up vote other content (or your own).
What else? Why should you buy now?!
- Today Steem is relatively cheap. It will grow bigger eventually! Even if you buy just 30 Steem or so, you will reap the rewards!
- You will not earn / buy any SBD or Steem so easy anymore. The early adopter phase is over but we’re the early majority. Once Hard Fork 20 sets in, many more users will come and join!
I know that everyone’s financial status is different and some can invest more than others. But buying cryptocurrencies is a personal decision. In my opinion Steemit has a good future again and you will be rewarded later on!
Disclaimer I’m not a personal financial coach and you should always do your own research on cryptocurrencies. I think it will grow big but some others disagree. So form your own opinion, based on research!
This post received a 3.7% upvote from @randowhale thanks to @rkrijgsman! For more information, click here!
But the only way currently to buy Steem is with Bitcoin while that one is at an alltime high. So you first have to buy expensive Bitcoin to buy cheep Steem. That is probably the biggest reason why people are holding back don't you think?
That isn't an issue for buying Steem. Say you want to buy $50 of Steem, you will have to buy that same amount of Bitcoin as well. This worth stays the same. (Well perhaps a bit more for transaction fees).
It's just not a great time to be selling since you get way less bitcoin now since it keeps growing to new heights.
True, I made a thinking mistake.
I bought my Steem with Ethereum. I used Blocktrades.
Yes, but isn't it at the moment the only way to buy any crypto with buying Bitcoin first with fiat money?
You're probably right. I haven't bought crypto. Can't one deposit cash on an exchange and buy any crypto sold there?
In the process of investing a small amount to learn before I invest more, and the main reason many do not invest i think is obviously the complication of doing so. It is not clear for me and i think most first timers here will think the same
I totally understand what you're saying. It's pretty hard to buy some now with buying an other coin first and then Steem. It should be way easier. Some other Steemians made a guide for it but it's still to complicated and it should be easier.
But investing is always nice, I would suggest to put it into Steem Power. It will give your upvotes a boost as well ;)
I wont be purchasing any steem or SBD until the censorship has been removed, that red flag is an infringement of my rights. I will never understand why people would pay to surrender their freedoms.
Well, the Red flag is a good thing but now it's unsupervised which is awful. Everyone can flag something without a reason. If that process is getting fixed it would be way better.
I'm all for its complete removal, we all have the same freedoms of speech thought and opinion, that red flag is a massive problem where our rights are concerned. If they remove it entirely I will actually purchase some steam and SBD, but not while that flag is still alive and working. People are actually making hundreds per day for simply bragging, posting a list of all the posts they have red flagged that day with their own reasoning, it's wrong I tells ya :)
What Robin says is true. When something is good you must ramp up. While steem is low, it hovered just over $1 not too long ago, and was over $2 before that.
The point is, even though you are buying something you are getting a 2x return by holding the crypto AND gaining the SP, voting rewards. It's one of the best investments out there in my opinion, but I am not a financial advisor and my opinion should not be taken as investment advice!
Power up and VOTE.
Good post about investing and buying STEEM.
Just out of curiosity. How much did you buy?
PS: and i know i can check that myself ;) I did upvote your post because i think it's good. But i have a bad feeling about the honesty in it?
Fair question for sure! :) I have bought and I have sold. I'm also pretty active in the market of cryptocurrency's and I'm riding different coins each time to make a profit.
Example: Steem has been steady at $1.30 for quite a while now. Before the first of August Bitcoin had a low of $1850 or something so I invested in Bitcoin and now it stands at $3500+. Now when that stays steady again, Im gonna buy Steem again and so forth!
Thank you very much. I am glad I find your wonderful and helpful post today. Up voted and following your good posts.