In this video, we discuss how you get paid on Steemit. We start by describing the Steemit reward pool, which is where the author and curator rewards come from. From here, we go into the differences between authors and curators. We then move on to discuss the different types of rewards and forms of compensation. These consist of STEEM tokens, STEEM Power (SP), and Steem Dollars (SBD). We compare and contrast all three of these assets and talk about what you can and can’t do with each. We briefly touch on the idea of powering up and powering down, as well as delegated STEEM Power.
We then navigate to our wallet on Steemit to show where you can view your rewards and go into the details about how you’re compensated by choosing your reward preference when you create a post. You can choose the default 50/50 to receive half STEEM Power and half STEEM tokens/Steem Dollars, or you can choose to power up 100% of your rewards.
Lastly, we discuss how you can view the amount you earn from a particular post or comment and the fact that a post only remains eligible for rewards in the first seven days of being posted. In a future video, we’ll be covering how to do transfers from your wallet, and how to Power up. We’ll also go into more detail about some of the economics, like where the value of these assets comes from, and how the prices of these assets are determined.
Previous posts in this series:- Steemit social network and STEEM crypto & blockchain overview | Steemit series - Part 1
- What is Steemit? | Steemit series - Part 2
- Creating a Steemit account | Steemit series - Part 3
- Steemit keys and account permissions | Steemit series - Part 4
- Posting on Steemit and navigating the site | Steemit series - Part 5