To be successful in Steemit, you need to have a lot of information about the system. The environment is extremely analytical and has a rich application ecosystem. I think I've come a long way in time to get to know the Steemit system. I wanted to share with you what I learned in this article, focusing on making money.
We can basically collect the methods of making money in Steemit under 4 different headings. At this stage, I'm not going to go into detail, I'm just going to specify the titles.
Capital-based earnings: Curation reward, vote sales, steem power delegation, leasing steem power to operate
Labor-based earnings: Author reward from your posts and comments
The earning achieved by the synergy of your capital and labor: Upvoting of your post through bot use, upvoting your own post.
Earnings obtained by serving on the Steemit ecosystem: Operating as an upvote bot, becoming a witness, working as a resteem service, developing applications
After drawing the general frame, I can now move on to a more detailed description. I won't keep the level of detail too high, because I want this article to remain a readable length. I wrote about each topic under the article in more detailed manner. You can also take advantage of the other articles I reference at the bottom of the article. Mathematical calculations in these articles may have been differentiated because of the change in Steem price, but the main idea has not changed.
- Curation Reward
In steemit, every account can use 10 daily votes. In proportion to the steem power you have, you receive a curation in return for the upvotes. Curaiton reward accounts for 25% of revenue generated on a post. This rate gradually decreases if the vote is submitted before 30 minutes the post is published. On the other hand, early voters of a post generate a higher rate of curation than the average curation income of 25%. Ideal curation timing for popular content can be considered between 15 and 20 minutes.
- Selling Votes and Automatic Voting
To obtain curaiton reward, you need a great discipline to regularly use 10 daily voting rights. It's almost impossible to make this work stable 7/24. And when your vote power isn't used, it's wasted. You can't get any income through it. To prevent this situation, you can vote automatically for the authors you like using https://steemauto.com/dash.php You can use "fanbase" on the menu for this purpose. Also again using https://steemauto.com/dash.php you can be included in a curation trail, and you can automatically upvote the same messages following the master curators.
Another alternative is sell your unused votes on https://smartsteem.com/ through the “sell votes” menu. When your vote power rises to the specified rate the smartsteem system automatically sells your vote and pays you an automatic batch every 2 days.
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- Steem Power Delegation
Steem stands out with some sort of interest rate compared to other crypto currencies. By purchasing Steem and converting it to Steem power, you can delegate this steam power and generate regular income. For the steem delegation you can use these links: https://smartsteem.com/delegators and https://www.minnowbooster.net/delegate . Such a delegation gives your Steem Power an annual return of around 18%. In return for this ROI, you take the price fall risk of Steem. If the price of Steem rises, you gain from the delegation as well as from the price increase. You can cancel the delegation at any time, Steem power comes back in 1 week after the delegation is cancelled.
- Steem Power Lease
You can rent Steem power by paying some amount of Steem in advance from https://www.minnowbooster.net/lease. You can use this steem power to upvote your own messages, to exchange votes with someone, to operate as a bot, to earn higher profits than you pay for the rental.
- Author Reward
You can create an audience by creating quality content, developing good relationships with people, and continuing to write in a consistent manner at Steemit. When people upvote, revenue is generated on the post. Those who have high steem power will be generate high rewards by uptoving in proportion to their Steem power. 75% of the revenue generated on the post is given to the author. Author reward is reflected in your wallet after 7 days. You also earn money in the same way by commenting under posts. Let's say that at the end of 7 days 10 sbd revenue is accumulated on your post. 25% of this is distributed as curation reward. There's only 7.5 sbd left. Your final gain is the half of this amount, 3,75 sbd and 3,75/x Steem/Steem power. you can find x value on https://steemnow.com in the upper-right corner of the site. x is steem's last 7 days of median value. You can read the following article about producing high quality content.
11 Tips For Creating Quality Content
- Upvote Bot Usage
After publishing your post, you can send SBP or Steem to certain accounts that work as a voting bot to vote for your post. Bots are divided into two: fixed-rate voting bots and bid-based boots. I recommend that you give priority to fixed-rate bots that provide guaranteed return. The most important bots voting at fixed rates can be reached through https://smartsteem.com and/or https://www.minnowbooster.net/ They provide an investment return of around 15% on weekly basis.
You can reach bid-based bots through https://steembottracker.com.
Bot use is as critical as quality of content to be successful at Steemit. You can read the following article to learn why.
5 Advantages Of Using Paid Upvote Bots
- Upvoting Your Own Post
When you upvote your own post, you get both the curation award and author award. This represents the most efficient use of your Steem power. In this way, you provide an investment return around 40% on yearly basis. If you upvote your comments, you get the same result. However, I do not recommend this type of use, because I do not find ethical. I also don't recommend that you create poor content just to upvote. It will negatively affect your reputation.
- Operating As An Upvote Boat
If you have an account with a high Steem power you can enable your account to be listed on the site https://steembottracker.com/ and use it to provide bot services to others. If you think that you can promote yourself you can also give the bot service independently.
- Providing Resteem Service
If you have a large number of followers, you can provide resteem services to others for payment. Similar to upvote bot usage, the users send an amount of SBD with their post's link on memo and these accounts resteem the post.
- Serving As A Witness
The income distributed on Steem is due to Steem's inflation rate of 9.5% per annum. 10% of the revenue generated by inflation is given to the accounts that serve as witness in return for executing the system. Witness has a mission similar to the miners in other crypto currencies. They're elected by steemians. To be able to function as witness, you need to have technical knowledge.
- Developing Applications On Steem Blockchain
The Steem system has reached its present level thanks to its vast ecosystem. Independent developers are writing applications to serve the Steem ecosystem. These may be for the purpose of obtaining commissions, or for the purpose of obtaining the witness vote. If you have a good idea and have the technical knowledge, you can develop a new application. You can check out application examples on https://steemprojects.com/