Steemit is a social media platform that runs on a new cryptocurrency called steem. It works like Reddit, where users publish a blog post and other users can "upvote" it. The twist: Every upvote represents a small amount of steem power. Steem power can be converted to steem dollars, which at the moment trade for about $3.25 USD each. That’s tiny, sure, but more steem is created from more activity on Steemit, and the $300 million market cap of steem is enough to rank it No. 3 among all cryptocurrencies, according to CoinMarketCap, behind only bitcoin and ether, the currency of the Ethereum network ¹.
Steemit users say they have cashed out more than $10,000 from posting on Steemit ¹. The site pays you 24 hours after a post; 75% of the steem power goes to the writer, 25% to the curators—that is, those who upvoted the post, in different amounts according to their influence ¹. Steemit made its first cumulative payout on July 4, amounting to $1.3 million USD ¹.
Here are some tips to help you get started on Steemit:
Create quality content: The better your content, the more upvotes you'll receive.
Engage with the community: Comment on other people's posts and upvote them. This will help you build a following.
Use tags: Use relevant tags to help people find your content.
Be patient: It takes time to build a following on Steemit. Keep posting quality content and engaging with the community, and you'll see results.