Every day in the world at least one new blockchain is created, a new cryptocurrency appears. Most of these projects aim to attract investment and enrich their creators on the initial hype. Now it is increasingly difficult for investors to determine which of the projects really has a future, so they often return to "old", time-tested cryptocurrencies.
One such cryptocurrency is STEEM, a token with its own blockchain launched back in 2016. From the moment of its launch until now, the blockchain has been pleasing its supporters with stable income. It is built to fairly reward investors for their contributions and content creators for their interesting content.
If you inquire on the Internet what Steem is, you will definitely come across the following information:
Steem is a social blockchain that grows communities and makes immediate revenue streams possible for users by rewarding them for sharing content. It’s currently the only blockchain that can power real applications via social apps like Steemit.
In simple words, this means that authors publish their content (textual or visual creativity), everyone who liked the post votes for it, the more votes the post gets, the more rewards it will earn. After 7 days, these rewards are divided equally between the author and those who voted.
How many rewards a post earns depends not only on the number of people who voted for it, but also on the power of their account. This power depends on STEEM POWER. STEEM POWER is the same STEEM, only blocked for one month. That is, at any moment you can convert STEEM POWER back to STEEM, only this process will take a month.
Such a system offers many advantages of earning opportunities.
Author's rewards
Content creators can earn money from their creativity. It's a long road, but a truly talented author builds his readership over time and can earn a steady income from his creativity.
Let's consider a specific example.
On the screenshot, the author earned:
- For the week: 303.56 STEEM POWER and 303.40 STEEM, which at $0.20 STEEM is $121.39.
- For a month: 1,027.89 STEEM POWER and 1,026.56 STEEM, which at $0.20 STEEM is $410.89.
Curatorial rewards
You can get curation rewards when you vote for other authors' posts. Curation rewards are directly proportional to the amount of STEEM POWER you have in your account. If you don't feel like an author or you're too busy to create content, you can make your money work for you. All you need to do is buy STEEM, convert it to STEEM POWER and maintain interesting posts every day. If you want to completely automate your money making, then you can make your account vote automatically using https://botsteem.com/ tools.
Let's look at the same specific example again:
In the screenshot, the account with 58,356.91 STEEM POWER earned:
- For a week, 164.59 STEEM POWER, which at the cost of STEEM at $0.20, is $32.92.
- For a month, 681.86 STEEM POWER, which at the cost of STEEM at $0.20, is $136.37.
Delegation services
There are many services that offer you earnings in exchange for delegating STEEM POWER to them. With delegation, STEEM POWER remains entirely your property, but you allow a certain part of it to be used by someone else. For example, PROJECT HOPE offers:
Those who delegate 5000sp or more will enjoy additional 1% APR (11% apr total)
There are many other ways to earn money thanks to the Steem blockchain, but I will leave them for your own research.
Thus, when you buy any cryptocurrency, you have to wait months for its price to rise before you make a profit. At the same time, by buying STEEM, you can earn continuously, and then, just like other coins, sell it at the peak of its value. As a sign of reliability, STEEM is listed on many crypto exchanges, including Binance, Gate.io, Upbit, HTX and Poloniex.
Be a competent investor, approach the choice of coin for purchase thoroughly.