What is steemit [How Much Money Can You Make From Steemit?] full details...etc...

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Since the beginning of the year, there has been some hype among freelancers and content writers and general internet users about the social network Steemit. Steemit is basically a social media, called decentralized social media and at the same time a big blogging platform. Steemit currently has over 1 million active users and is one of the most visited websites in the world. But this steam is very different from any other social media and blogging platform. This entire social media is integrated with Steem cryptocurrency. There are also many extra unique features that you will not see on other social media. Today I am going to discuss this estimate.

• What is steemit?

First of all, Steemit is a social network as well as a blogging platform. At a very basic level it may seem like another social network like Reddit to you. Because, almost all the features of Steemit are like Reddit. Like Reddit, you can upvote, comment, repost other users 'posts to your profile, follow other users' posts to get feed, follow any topic you like, create new posts yourself. Steemit has a lot of features that a social media and blog should have. But at the same time Steemit shares revenue with their users. This is basically the biggest difference between any other social media and Steemite. And in the case of this revenue sharing, the integration of a cryptocurrency called Steem with Steam comes to the fore. Steemit does not pay its users with regular fiat currency (money, dollar pound, euro). Instead, Steam pays users with the help of Steem cryptocurrency.

Another interesting thing is that users do not get paid just for posting content. Instead, they get paid for posting, upvoting and even commenting on someone's post. However, how much payment a user will get for doing something depends on some more rules of Steemit and a few factors. I will discuss them later.

• How does Steemit work?

Another difference between Steam and other traditional social media and blogs is that all Steam's posts and content are saved in Steem's own blockchain instead of its own web server. There are some extra benefits to using blockchain technology to store content that are not available on other blogs. For example, the content that you create on Steemite, you will always be recognized as the owner of that content. Because the contents are stored in the blockchain, no one will ever be able to edit or delete those contents.

In addition to using this blockchain, it also serves as a fair means of revenue sharing for creators. Every day new steam tokens are created in the Steem blockchain and these tokens are the payments that are given to the creators. 5% of the new tokens go to those users who hold Steem Power. And 75% of these tokens go to Steemit's community pool and 10% goes to Steem Miners (Cryptominer). These 75% of the tokens that go to the community pool are basically paid to those who contribute to Steemit or create content.

• Steemit Community Pool Share System

When you create new content on Steam, you need to select how you want to receive the payment. Either you have to take 50% of the payment in Steem Token and 50% in Steem Dollar. Or you need to convert the entire payment to Steem Power. In that case you will get payment according to your holding power. Steem, Steem Power and Steem Dollar all sound similar, but there are some differences. Notice below-

• Steem

It is a cryptocurrency similar to Bitcoin, Litecoin or Etherium. It is a liquid currency that can trade, spend, transfer everything. Like Bitcoin, it can be securely stored in a wallet and can be traded or exchanged with other cryptocurrencies, such as Bitcoin or Etherium. And like other cryptocurrencies, Steem's price goes up and down a lot. However, its price is more or less stable most of the time

• Steem Dollar

This is Steem's own dollar, similar to the US dollar, which is stored on the Steam blockchain. If you want, you can convert Steem Dollar in your account to Steem Token. Many cryptocurrency exchangers also allow you to trade Steem Dollar with other major cryptocurrencies.

• Steem Power

This is basically called the influence score of this platform. The more Steem Power you have, the more valuable your one vote will be to the Steemit platform. If you vote for someone else's post, how much Steem or Steem Dollar the post creator will get from this post will depend on your own Steem Power. Creators will get less profit from your upvote if your Steem power is less and users will get more profit from your upvote if your Steem Power is more. The same thing will happen to you if you get upvotes and comments on any content you create.

• How Much Money Can You Make From Steemit?

First of all, Steem is never an overnight millionaire. As successful as writing a traditional blog or creating content on any social network is, it requires as much patience and practice as nothing less than Steemit. You will see in the trending section of Steam that there are many viral posts from many users who have earned hundreds of Steem Dollars to thousands of Steem Dollars. But there is no reason to think that any post there will go viral and you can earn thousands of rupees from it.

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