We buy Steem Power in order to raise our voting power. Steem Power influences how much our upvotes are worth. The more Steem Power we have, higher will be the rewards for other people(to whom we upvote) & our earning too.
The value of Steem Power (SP) is same as that of Steem. It means that for buying 1 Steem Power we need 1 Steem. Likewise for buying 500 Steem Power we require 500 Steem that must be available in our wallet. Here, the problem arises for many Steemitians as to what would they do with very few Steem in their wallet and for those who cannot make a large investment.
Here comes the solution:
The simple way is to lease Steem Power. It means that we take Steem Power on rent for a specific period of time. For leasing Steem Power we are suppose to pay a specific amount of Steem (for eg. Payment of 7 Steem in return of 500 Steem Power for duration of 2 Weeks).
You may use this calculator to know how much your upvote would be worth with a specific amount of Steem Power!
Calculator link : https://www.steemnow.com/upvotecalc.html
How can we lease Steem Power
I recently came across a very popular platform @minnowbooster from where we can lease Steem Power.Go to https://www.minnowbooster.com
Click on “Lease Steem Power” link on the left panel
Now, a next page will appear. Scroll down a bit and fill in the required fields accordingly. As you enter your Username in the first field, it automatically shows available Steem balance in your wallet.
Now, fill up the value for Steem Power required by you (eg 500 or 1000 etc.)
In the next field enter days in weeks (eg. 3 weeks or 4 weeks etc.) as per the required duration to set up your lease period for Steem Power.
Next field asks for quantity of SP per Steem per week. I set it to default value i.e., 150
The last field calculates and shows the total Steem required to be available in to your Steemit wallet. You may change the value of previous fields accordingly depending upon the amount of Steem you would wish to invest from your wallet in return of required Steem Power.
After completing all the fields click on Lease button.
Now, you have to Confirm your leasing request by connecting to your Steemit account via Steem Connect. Click on Continue button
Here, input your login information of Steemit account and Sign in
The STEEM amount will get reduced automatically from your Steemit account and your leasing request will be added to the New Leasing Requests list on https://www.minnowbooster.com
You will be notified by a message when your request gets filled. Additionally you may also check the status in HISTORY section of your Steemit Wallet. If the request can not be filled within three days (in rare case), the STEEM that you have invested would be transfered back to your account.
As of today I have invested $ 27 (STM) for 1000 Steem Power for 4 weeks. I hope this post helps many of you in one way or the other from my real time step by step update (experience).
Please comment and share your views regarding this post. Thank you !!!