For the benefit of very newcomers, steem power delegation is an account leasing steem power to another account for a particular time. This gives the account the steem power was delegated to extra bandwidth and voting power. Within the delegation time, any reward including curation gotten or boosted by the delegated steem power belongs to the new temporary owner.
what does all this mean to me?
Whatever stage you are, your account can always be boosted by extra Steem power especially as a newbie.
It can be frustrating coming in as a newbie with no Fiat or other cryptocurrences to invest in steem power. After sign up, you only started with about 14.5 SP that was delegated to you by Steemit. With steem power of 14.5, your upvote at 100% vote weight will only give 0.01...small right?
What this implies is you have very small influence.
Getting delegated steem power gives you more power(influence) and upvotes which means you can reward your followers, commenters, creators of a post you like and yourself. Yes...yourself. A lot of talks have been going on about self upvoting. In my 56 days on Steemit, I have only come across one account that doesn't upvote itself. Steemit leaves an option of you upvoting you own post under the editor when creating the post. It only becomes an issue when it is overdone with your comments.
How do I get Steem Power Delegation
I will be focussing getting delegation from minnowbooster in this tutorial.
Credit
To get someone to fill your delegation request on minnowbooster now is more competitive than ever as other popular alternatives like blocktrades are not available for now.
The trick here is to observe and study the delegation market in few minutes to decide which rate will increase the chance of someone filling your lease request. So lets get down to business.
- First check out active lease to see successful lease requests (the lease request that were filled by someone becomes active lease. Hope you get that?). Just as the price of steem goes up and down so also is the number of steem power you can get per Steem. It is important to browse through the active lease and make your lease request similar or a little better so as to have a request that is attractive to investors.
Active lease on minnowbooster(click on the image to have a better view)
Currently the 'competitive' active lease for 1 week is around 65 Steem Power per steem for 1 week.
The focus of this tutorial is on delegation for a month (4 weeks), you can delegate for as many weeks as you want all depending on what the purpose of the delegation.
If it is to have more influence (voting power), I will say 4 weeks is better.
- Let's go to filling the request form for 4 weeks. In the screenshot below, I am requesting for 1000 Steem power for 4 weeks
Going by the current delegation market, to get
1000 Sp will require payment of 37.037 Steem.
NETT APR** and total Steem Required are calculated automatically based on the steem power, how many weeks and SP per Steem per week you filled.
Some people get confused with calculating SP per STEEM per week, I was too initially. Here is how I do it
---I already have the idea from the active lease by dividing the delegation gotten by a few accounts by the respective number of steem paid, so I arrived at about 27 steem per steem per week over 4 weeks.
---To get the Steem power per STEEM per week I filled in, I simply multiply 27 by 4 to get 108 Steem power by steem per week.
---Again the number of weeks and SP per steem per week will determine how many Steem you will pay, you can tweak the Steem power wanted to suit your budget.
Once you click on lease button, the transaction will be completed with steemconnect and the Steem required will be deducted from your wallet.
However your Steem will be returned after 3 days if your lease request was not filled
Also bear it in mind, minnowbooster charges 10% facilitation fee from your Steem paid if your request was successful.
Thank you for reading my tutorial.
Don't forget to upvote to encourage the writer, resteem for your followers to benefit and leave a comment to share your thoughts.
Pictures are screenshots from minnowbooster
Visit minnowbooster website or blog for more info.