Every form of cryptocurrency operates in a different way. To earn money on Steem, you have to create posts other users will like and then upvote them. A user base that likes your posts will generate a percentage of revenue for you in the long run. The amount of money a user can earn depends on their voting power. Voting power can be earned at the time of creating a post/article or any piece of content.
Understanding Steem Crypto
The Steem network has two different tokens:
• Steem (STEEM)
• STEEM Dollars (SBD)
Users can be rewarded in both tokens. The default setting is to receive 50% of rewards in SBD and 50% in STEEM, although users can alter this ratio as they see fit.
STEEM crypto can be “powered up” into STEEM Power, while STEEM Power can be “powered down” back into STEEM tokens. STEEM Power gives users more sway over the voting mechanism that powers Steemit and increases their potential rewards.
While SBD and STEEM coin are cryptocurrencies that can be traded off-platform, STEEM Power only exists on Steemit.
STEEM Power
STEEM Power influences the weight a user’s votes have on the network. Those with more STEEM Power have more influential votes, meaning that when they upvote something, that user receives a greater reward. It also pushes those posts higher towards the top of the feed for whatever categories the post was listed in. In this way, it’s thought that the posts judged to be most valuable by the community will become the most popular and well-rewarded.
STEEM Dollars
STEEM Dollars (SBD) are used to reward those who post, comment, and upvote posts on Steemit. Users can also receive rewards in STEEM tokens. Those who want to quickly “power up” to STEEM Power might opt for more STEEM rewards, while those looking to cash out their rewards might want more STEEM Dollars. SBD can be converted into STEEM, but the process takes about three days.
