I am looking to invest in Steem power. I wonder about what should be the right amount of Steem power which would start giving me significant hold on this platform.
The other option which I have is Cloud mining. Should I go with it. It gives me money regularly and also low risk.
The last option is buying cryptocurrency. I don't know much abt it. But it fluctuates too much.
I'm brand new to this whole cryptocurrency & STEEM thing as well. A few days ago, before Bitcoin shot way up, we bought $100 worth. STEEM also decided to go way up (I regret not buying that first!) and now it's heading back down again. So if you're going to buy, I've been told do it in small increments over a period of time, and DIVERSIFY. We want to invest $500 total, so we are doing it in $100 increments. Our next purchase will be some STEEM if it goes a bit lower.
It's a gamble, and I know nothing about the Cloud Mining. But I say, try it all. Don't put all your eggs into one basket. What I really like about Steemit is I'm also benefitting from making all of these posts, so it does double-duty!
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Cloud Mining is more passive. You would have to engage a lot on steem for good earnings.
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Well @honeychum
There are cretin aspects to watch for before you decide.
At this point if you are looking for a regular income with some tasks i think the wise idea is to increase your steem power and start cloud mining...
Think this way the more steem power you have the more influence you have on the network, which results for good payouts from good quality content.
And the earnings you getting from cloud mining per day is separate, having both of these assets setup, gives you the ability to reinvest in anything you want on regular or occasional basis...
LET ME KNOW WHAT YOU THINK!!!
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Yes, buy Steem Power, EOS and BitShares, dont waste money on mining, buy tokens instead.
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I am also interested in Steem Power, but I dont think I really understand the benefits. I read that you get a bit interest back but I could not find how much.
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You use to get interest gained on steem if it was in your savings, but that is no longer the case. Ultimately, the more steem power you have the more money you gain by giving an upvote. I've provided a link so you can calculate how much steempower would be necessary to provide x amount of gains. https://www.steemnow.com/upvotecalc.html
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Thank you very much @crazydaze for your explanation. I did not know you earn money by upvoting. one more question, I wonder how much does it costs 1 STEEMPOWER it is the same as 1 Steem?
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@igorfil, You're welcome. Yes. When you have steem you click the little arrow next to the amount and you will see "Power Up", you select that option then distribute X amount of steem for the same X amount of steem power.
If you have SBD aka Steem Dollars, you can transfer that to steem by selecting "buy from internal market" or something similar. 1 SBD is NOT equal to 1 steem.
You are also limited to how much voting (about 10x a day) and 4 posts per day that you can do. If you vote and post more than the times listed above, it will take longer than 24 hours to fully recover your steem voting power.
steemdb is a useful site and so is steemnow to learn how much your vote is worth and recent updates such as upvotes, comments etc..
Your reputation depends on how many up votes your posts get from others.
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@crazydaze thank you one more time for your explanation and time. I will following you
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Thanks for the follow. I'll mostly be posting drawings, sketches, and some 3d models as I learn more with 3D software. Hope you enjoy what I post.
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