Minnow University // Your Wallet Explained // Part 1 // Balances
Minnow University // Your Wallet Explained // Part 1 // Balances
On the right side of the main bar on your steemit page you will see a tab called "Wallet".
When you click on "Wallet" you will see 3 tabs:
- balances
- permissions
- passwords
There is also a large hi-lighted button right underneath the Wallet tab that says "Buy Steem or Steem Power"
Today we will be discussing the Balance Tab.
Under the balance tab you will see the following:
Buy Steem or Steem Power:
This takes you to the Blocktrades exchange where you can purchase Steem or SBD with cryptocurrency or exchange them for other cryptocurrencies.
You can also now lease SP Delegation. (We will explain this more later)
Steem:
Steem is a liquid currency that can be bought, sold, or powered up as explained in my previous post (link)
Steem Power (aka SP):
This is your powered up steem that results in your voting power. The higher your voting power, the more your vote is worth and the bigger your curation rewards.
Steem Power is not liquid and must be “powered down” over a span of 3 months to turn it into Steem.
Steem Dollars (aka SBD):
This is a secondary liquid currency that can be bought or sold. It is pegged to the US dollar.
Many steemit service like voting bots require the use of SBD.
Your post rewards are either paid out with full Steem power or a 50/50 split between Steem Power and SBD.
When you make a steemit post you can choose which option you would like.
You can also choose not to accept any rewards at all.
Savings:
This is used when interest rates are in effect allowing you to increase any Steem or SBD you may choose to put in here.
Interest rates are set off of the top 20 witnesses, the current interest rate is only 0.01%.
Estimated Account Value:
This indicates the value of your Steem, Steem Power, and SBD combined. (In US dollars)
Minnow University is brought to you by witness @swelker101, with help from @isaria and @kubbyelizabeth to help new Steemit users understand the concepts and basics of Steemit and other STEEM blockchain platforms. We have working relationships with MSP at PALnet and The Writer's Block to help educate minnows on how to grow their accounts without resorting to spam or practices that may stunt their ability to flourish on the platform. Please join us at our discord server
Thank You!
This is very helpful for newbies like me. Bookmarked this post. 👍
Welcome to the steemit, there is so much to learn, and I recommend learning one new piece of information a day. Remember to have fun!
Shane and I, are part of a group called the minnow support group, would love to connect more with you there!
This is great knowledge for a newbie :D
really nice information given by you for the new users just like me @minnowuniversity
I am glad you enjoyed reading and hopefully learned a new bit of information today. Are you part of the minnow support group?
haa Im a rookies as in every games. would be possible to transfer the savings to have more steem? haa
You can transfer funds to and from your savings. It takes roughly three days to transfer funds out of your savings. If you have more questions, come chat with us in the minnow support group
okay gotcha...I would love to...thanks
I think you are doing a lot of minnows a great pleasure.
Thank you, the goal is exactly that. We are part of a fun group called the minnow support group and would love to see there
I think that this is a very good initiative that will help new members of the community. It should make Steemit easier to use and clear up some common points of confusion that arise. Thanks for proving this service.
That is the goal, if you have ideas or recommendations please let us know. We are part of a group called the minnow support group and would love to connect with you there
Wonderful. Please keep these explanations coming. :)
We surely will, connect with us at the minnow support group. Let us know if there is something specific you would like to see
You're doing the lords work!!
You are very welcome my new friend. If you have suggestions on what you would like to see please connect with us here or at the minnow support group
Very well thought out and presented well. This looks to be a project worth paying attention too.
Very close attention indeed. Do you have any suggestions connect with us here or minnow support group
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