Is Steemit Legit?

You heard about this cryptocurrency site that pays creators, but what's the deal? Is Steemit legit?

Since their inception, cryptocurrencies have been and always will be a hot button topic. They are a new way of representing the concept of currency, and depending on which digital currencies you own, you can make a lot of money from simply being tech savvy. They're a hobby, an investment vehicle, and a technological breakthrough.

Most virtual currencies that exist are a lot like Bitcoin; they require special mining rigs to mine the currencies. They usually take a lot of effort to mine, so you might need to get a new mining pool every so often, and yet, they always seem to be worth it.

One cryptocurrency is a little different, though. Rather than require proof-of-work to mine, Steem is a currency that awards people based on the quality of the content they publish on the platform. Steemit, the site that makes Steem, is a major hotspot among crypto fans. That does leave a lot of people asking though, "Is Steemit legit?"
https://steemit.com/
If you don't know much about Steemit, then it's really hard to determine whether Steem is a legitimate cryptocurrency. It's the world's first social media platform that awards quality content with cryptocurrency, making it one of the easiest coins to mine if you're a proficient writer.

You can either buy Steem to award to others, or earn it by creating good articles on any topic you choose. It uses a built-in base token called Steem to make everything run.

Steem is a blockchain-based cryptocurrency. So is Steemit a legitimate cryptocurrency-based site? Yes, if that's what you're looking for in terms of legitimacy.

Getting Steem is a little complex.
Steemit uses three different token variants to power its site. They are as follows:

Steem.This is the base token, and the cryptocurrency you keep hearing about.
Steem Power. Also known as SP, this is a token that has a 13-week vesting schedule. The more SP you have, the more your vote is worth when you comes to your ability to give away tokens.
Steem Dollars. SD, as they're called, are an interesting promise. They promise a dollar in Steem to the holder. They can be used in exchanges to cash in on your crypto.
The fact that Steem Dollars exist is a good indicator that Steemit's the real deal.

Every day, more Steem is minted.
The cryptocurrency that's minted is added to the "community rewards" pool. This means that people who make high quality content will be able to get rewarded for their work.

Every newly minted Steem batch is distributed in a unique formula. Of the people who hold Steem Power, 15 percent is distributed. Next, 75 percent goes straight to content creators. The last 10 percent is paid out to Steem miners.
So, is Steem legit as far as a payment method goes? Yes. And if you already know how to calculate mining profitability, you can probably see how brining Steem into your life may work out for you.

Steem is also featured on a lot of cryptocurrency exchanges.
It really wouldn't be a legitimate currency without having a home on some exchanges, right? With Steem's popularity slowly rising (and falling, and rising again) it only made sense that several major exchanges would start to carry it.

So, if you want to exchange Steem for Bitcoin, it's possible. The same can be said about converting Steem into dollars.