Steem4nigeria Accelerator Contest Week 48: The Benefit of Investing on Steem through Steemit Platform

in hive-147599 •  5 months ago 

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Steem as a blockchain is a platform where users write and get paid at the end of their post pay out, having been in this platform for some years now I want to share my thoughts on this topic.

Which investment method is more beneficial to you? (Steemit platform or exchange wallet) Give reasons for your answer.

There's no other investment method that could be more beneficial to me than steemit platform. For instance if I use millions and buy Steem to build my Steem power the curation rewards that I will get at the of the month can't be compared to just keeping my money where it will be stagnated.

Another reason I prefer investing on steemit is recognition. People who has invested in Steem through their Steem power are given more opportunities. Just like the Steem whales.

If you are given $5000 to buy any cryptocurrency of your choice, which cryptocurrency will you buy and why?

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Many crypto lovers can choose more profitable coin , I'm not a crypto expert therefore I will choose the one I'm very familiar with, I would Choose Steem cryptocurrency.
Here are my reasons for choosing Steem.

Steem is not questionable, it can be traded at anywhere.

The Steem wallet is secured. There's no room for third parties in your wallet unless where you did not guide your password properly.

Give a detail explanation on the benefits of investing on Steem through the Steemit platform i.e., tell us all the aspect which this investment help you to make more money

Steem Investment benefits can not be overemphasized , Since Steemit rewards its users both those who write and those who invest I will say the benefits are thus:

  • Power. The amount of Steem power that Steem users has give her the chances /opportunities of upvoting and supporting users in order to receive good amount of rewards called curation rewards. Example SC01 and SC02 . These two invested hugely on Steem and their power after supporting users are magical.

  • Privacy. Steem can hide your asset from been monitored by some authorities who are against huge amount of money in someone's bank account. In your Steem wallet you can have as much money as you want without restriction.

  • Sellable. Steem is in the market and can be sellable at any given time .

  • Accepted widely. No country restrictions on Steem coin therefore it's a good assets that someone can boost of any where in the world .

Steem has been helping me to pay some bills, I have being a consistent writer and my hardwork is paying off I can say I make some extra money from this platform.

What are the challenges associated with investing on Steem through the Steemit platform.

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The only challenge I can think of about investing on Steem is the market price of which is not stable , that's why in any investment platform the investor needs to be patient. The price of Steem goes up and down holding your investment with Steem to a longer term is a sure way of investing that can bring fought good return at when due.

This is my participation in this week's contest. I'm inviting my friends to join me @soulfuldreamer @mostofajaman @lhorgic

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Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.

Wow! I love your detailed explanation. You've convinced me on the reason I should invest on Steem.

Great! Here's sending you best wishes.