I am very pleased to be a part of this content aimed at promoting this platform and creating more awareness of the benefits and rewards associated with it. In addition, am thankful to this community for coming up with such a theme that will expand the knowledge of all and sundry on the benefit of the steemit platform. Meanwhile, the theme of this contest is Investing in Steemit as a way of Securing Finance.
First and foremost, let us understand the keywords that make up the theme which is Investment, Steemit, Security, and finance.
Investment is the act of dedicating assets to attain a boost in value over a certain time frame. It demands a sacrifice of some existing asset like time, effort, or money.
In finance, the aim of investing is to make a return from the asset invested. The return may comprise of profit or loss made from the sale of an investment, depreciation, unobtained capital appreciation, investment income like interest, dividends, or rental income a mixture of income and capital gain. The return can also comprise currency gains or losses resulting from changes in the foreign exchange rate.
Steemit as we well know is one of the social networking and blogging site built on the steemit blockchain database. The blockchain generates the steemit native token Steem as well as Steem Dollars that happen to be mystic tokens obtained by users for posting, discovering, and making comments on fascinating content. Steemit platform operates on a decentralized network Steem and makes use of this blockchain not just for currency unit transfer, but also fir the decentralized censorship-secured storage of images and texts on the internet.
Therefore, Steemit is an application used to process the capacity of the steemit blockchain. The network is accessible and allows all attracted parties to generate their own applications, which may have access to the same blockchain, its contents as well as users.
Finance in this context refers to the disbursement of assets, funds, and liabilities over time, medium, and process to earn the most out of the exercise. That is to say, managing and increasing funds to the optimum in the interest while dealing with the risks and uncertainties.
It also refers to the management, production, and study of money and investments. Basically, it handles the concerns of how an individual, firm, or government acquires money — known as capital in business terms and how they consume or invest that money.
Security on the other hand refers to all the precautions taken to ensure maximum protection. It also means protection from or stability against potential harm or other undesirable coercive change.
Having explained the keywords let's get started...
Steemit is a spectacular social media platform, essentially a content-sharing medium powered by Steem blockchain that pays its users for using it. The network has three distinct cryptocurrencies which are Steem, Steem Power, and Steem Dollars. Steem is the traditional digital currency of Steemit which can be bartered like any other digital currency. Steem can be bought, sold, powered up to get Steem Power, or converted into Steem Dollars.
Steemit for Marketing
Supposing you are already making use of social media networks as a marketing technique, Steemit is a super network to add to the table. Steemit possesses a good propensity toward technical or technological topics but it is broadening as influencers from different platforms are beginning to use it. Actually, as more people get to know about Steem it will go on with opening up to extra industries and your business has the chance to be among the timeliest to join.
The aim of making use of social networking sites is to increase audience, engage, and ultimately transform audience engagement into sales. Steemit is practically following the same plan however with some distinct motivators.
Steemit is of course a long-term investment and sure enough not something you can spend half an hour in a week doing to anticipate results. Steemit rewards curators, creators, and investors, and for most users, the reward imply making money. For businesses that mean solidifying your brand as a professional on a new social media platform and making money, steemit is a thinkable option.
The following contributes the reasons why steemit is a secured way of investment:
- More Power
Supposing Steemit users earn or buy Steem, they will have increased advantages over those who own little or none. Steemit platform is decentralized, this implies that a good number of decisions are made via voting outcome. Voting on the platform comes in two categories: upvote and downvote. With the possession of a great amount of Steem, users' upvotes are stronger meaning that they hold better influence over the vote.
- Anonymity
This is one of the reasons why people joined the cryptocurrency space as they needed privacy. Banks of course can't make full anonymity available, but Steemit encrypts all data as well as user details to guarantee that no one can access the identity of an account owner. Even the nodes that are utilized in the Steem network which are involved in verifying or confirming all transactions are just able to check users' balances and not their private details. Users are encouraged by this privacy to engage with Steem cryptocurrency as well as the platform that back it, "Steemit".
- Decentralised
Traditional methods of payment and banks are centralized, this implies that they are possessed and governed by a central controlling unit or organization. Keeping this centralization implies that third-party attacks can occur. Supposing there is money in a bank account, this may be aimed at and frozen. Meanwhile, supposing you put your investments into a cryptocurrency like Steem, it will be totally hidden from third parties. The reason is that blockchain technology is decentralized, the only person that can have access to your fund is you.
- Widely Accepted
Steem cryptocurrency is as well legitimate and regulated in various key countries like USA and Austria. While numerous countries have a strong feeling against crypto, the blockchain network remains legal, and these countries are pursuing the regulation of Steem and related cryptocurrencies. Since cryptocurrency is lawful in these countries, it means users can freely trade their Steem for the traditional fiat currency.
Conclusion
The Steem is a cryptocurrency gained via the Steemit platform. Holders or owners can utilize this cryptocurrency to their benefit. It can be utilized in the platform either to make rapid payment transactions or better decisions. Whichever way, it is a very useful and valuable cryptocurrency numerous people have eyes on which makes its platform "Steemit" worth investing in.
Written by:
@onyiluvdan
Cc:
@xkool24
Thanks for reading.........
Hi @onyiluvdan, thank you for your entry. Please endeavor to use the contest hints as a guide so as to help you within the scope of expectation. Keep posting quality content... #Steem-on
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