RE: Buy Steem, Grow Your Steem Power and Delegate!
Thank you so much for this information.. Am still very new to the steemit community and i really wanna power up wit the little SBD i have and this post has been really helpful. Here are my questions.. 1 you said its best to; buy steem when the price is low,so in what ways would i know that it is low?
2; You said after successfully powering and getting SP that it needs to be delegated to a community.. Can you please explain what it means to delegate steem?
3; You mentioned that the SP you delegated to some communities now yields you some monthly income. can you pls explain how it works?
4; what are the advantages or reasons why we should delegate our SP
Sorry if am way to inquisitive.. i just wanna be understand how this works because i can as well choose to cash out everything,but i understand that investing back to the community is the best move. so kindly clear me on these ones @fabio2614
yes @danie2funny
lots of question ha🙂
let me answer you the best I can.
I use coingecko to check on steem price and other coins, or join discord chanel and ask the steem price from there MODs
I included a delegation button at the bottom of my post to make it easier for anyone who wish to delegate.
It means you let other account use your steem power who may now have value because of delegated steem aside from you.
ex. your 100+ steem power when you upvote a post only gave cents($0.01) to that post... where as if you delegate that 100+ steem power ex. to @steemingcuration, once accumulated into a bigger number of steem power it can now give value to your post ex.$2.00, if ever @steemingcuration upvoted on your post.
the community sent directly to my wallet an amount of steem depending on the amount of SP I delegated to them. It is them who will calculate my share for the month. That is why when you delegate you will also receive income in return.
I think my answer in number 2 can explain why it is best to delegate our SPs
😊
WOW!!! thanks for the answers ,though i still dont quite understand number 2 but i guess as time goes on with my stay in the platform i will