Steemit: How to Make Money at This New Rev Share Site

By: | March 4, 2018 | Tags: , , , , , | 49 comments

Steemit

 Are you interested in sites that will pay you to publish?
You know, revenue-sharing sites, websites that actually give part of their advertising money to their writers.
Well, there’s a new sheriff in town, and its name is Steemit.
This post will explain how you can get started making money on Steemit and how you can attract new readers to your content.
The best part: Steemit is still in beta, so the field is wide open for you. In contrast to other revenue sharing sites, you won’t have much competition for readers or the money Steemit is paying.

What is Steemit?

Steemit is a new revenue-sharing site that’s still in beta.

The website is based on a steam theme: spelling “steem.”

Steemit boasts that although you may initially sign up to get the monetary rewards, the site is so engaging, you’ll stay for the community.

The young site already has 250,000 members. Users are dubbed “Stemians.”

The website prides itself on giving users a platform for sharing their voice as well as engaging in a community and earning rewards. The rewards are called “steem.”

This steem determines how much you get paid. You’ll get paid in cryptocurrency, a global means of payment. This is distributed to you in the form of digital tokens.

STEEM, Steem Power, and Steem Dollars are the three forms of online currency used by the site.

Steemit’s method of monetization is in contrast to other revenue sharing sites I’ve researched where page views determine your payment.

Steemit insists their site is different from other sites. They describer the site as an attention economy. According to @TeamSteemit, “Steemit is giving birth to a culture of friendly competition.”

All Stemians start with a reputation score of 25. The score measures how much value you’ve brought to the community.

Do you have to create original content for Steemit or can your posts be originally published on your blog?

This question, for me, is important. If I don’t have to create new content for Steemit like we have to for Virily, HubPages, and other revenue-sharing sites, that would be revolutionary.

Steemit’s advice includes: “The community is looking for you to add your own personal touch to your articles.”

From what I can tell, they frown on you sharing other people’s work unless you cite your source. However, I can’t find anything against you copying your own work and posting it on Steemit.

Apparently, you can post some content from your blog, write original content, or a combination of the two.

How to Use Steemit

Step 1: Go to https://steemit.com/ Click “Sign Up.” You will have to wait a few days for your application to be approved.

Step 2: Go to https://steemit.com/create_account, create an account, and accept the terms of service.

Step 3: Copy the generated password and store it in an accessible place. You can change this password later. Read the rules and fill in the form to create your account. Agree to the terms and click “Create account.”

Step 4: After you create your account, you’ll be directed to a Welcome page with instructions about how to use the site.

Step 5: Upload your avatar and change your password.

Steemit earns you money

You will find these controls in the upper right of your home screen. Go to Settings and fill in the information requested.

Step 6: Create your Introduce Yourself post. An example of an introductory post can be found here.

How to create content on Steemit:

  • Click Blog.
  • Click Post.
  • Create a post like you normally would on your blog (or wherever else you write online). The goal is to create attention to yourself to start building a following and generating upvotes will translate into cash for you.
  • You’re allowed to include your social media links in your introduction.
  • Insert a picture.
  • Tag your post #introduceyourself in all lower case letters.
  • Click “Post.”

Can you promote your content on Steemit to enhance visibility?

You can, but you will have to pay some of the money you’ve accrued to promote your writing.

Step 7: Follow this account so you are privy to announcements: https://steemit.com/@steemitblog.

 

Why You Should Use Steemit

  • You can get help if you need it in many ways. You can return to the “Welcome” icon. Stemians have written about how to use the site and their articles are accessible to you. In addition, there is a Quick Start Guide and a To Do List you can follow.
  • Steemit is free to use. One of the values of Steemit is for you to try to make money. You don’t have to pay to use the site.
  • Upvotes are available. You can give feedback about other people’s content, and they can give feedback on yours. Upvotes are crucial since they’ll determine how much you get paid.
  • You can comment. In this way, you’ll network with new writers. Stemians are also able to comment on your writing.
  • Stemians chat. Therefore, you don’t have to constantly be posting content in order to interact with the other Stemians. You can attend a chat. Note: in order to attend a chat, you must create a separate Steemit account.
  • You can use Steemit to generate blog traffic. When you attend a Steemit chat, you are allowed to post links to your blog post articles. In addition, of course, new connections might follow you back to your blog.
  • You don’t have to create new content to use the site. This is a huge time-saver for you. You don’t have to spend time creating new content. You can use Steemit for content curation.
  • The people there are warm and friendly. I received many comments welcoming me to the site within minutes of posting my introductory post. Also, people gave me their Steemit contact information so we could stay connected.
  • You might find interesting content to read. Using the tags, I found a helpful article about blogging.
  • Any kind of legal content is acceptable. According to Steemit, “Steem is an open platform meant to host and welcome any legal content. Users can post anything they want, whether it be phrases, quotes, blogs, anecdotes, photos, videos, memes, songs, and more.”
  • Help is available should you need it. Contact this email.
  • You can make money at Steemit. Ayla Croft claims she made $130 in just one day blogging at Steemit.
  • A Facebook group exists to help people who use Steemit. You can get additional help and support from the members.
  • You will get a dofollow link by posting at Steemit. Dofollow links boost your SEO.

How to Get Paid by Steemit

You receive digital tokens for taking various actions:

  1. Upvoting According to Steemit, 25% of the monetary rewards go to the people who voted for the article.
  2. Commenting
  3. Posting content and receiving upvotes
  4. If you “discover” a soon-to-be popular post, you’ll get a finder’s fee called a “curation reward.”
  5. Additional monetization opportunities: Some of Steemit’s monetization rules seem complex. Rather than paraphrase, here is an explanation from the company:

Purchasing – Users can purchase STEEM or Steem Dollar tokens directly through the Steemit wallet using bitcoin, Ether, or BitShares tokens. They are also available from other markets and exchanges including BlockTrades, Poloniex, Bittrex, Shapeshift.io, and Changelly. STEEM tokens that are powered up to STEEM Power earn a small amount of interest for holding.

Where do the tokens come from?

The Steem network continually creates digital tokens to reward content creators and curators. Some of the newly-created tokens are transferred to users who add value to Steemit by posting, commenting and voting on other people’s posts. The remainder is distributed to holders of STEEM Power and the witnesses that power the blockchain.

Where does the value come from?

At its root, Steem is simply a points system. However, because this points system is blockchain-based, the points can be traded on markets as tokens. People buy and sell these tokens, and many hold in anticipation of increased purchasing power for various Steem-related services.

By analogy, Steem is a game system where users compete for attention and rewards by bringing content and adding value to the platform. The rewards people earn are tokens that have market value and are readily tradable. It is similar to how someone playing a video game could obtain a limited item or currency by playing the game. If the currency or items are transferable between users, then they can sell or buy them in game-item markets.

How often does Steemit pay you?

Steemit pays one week after your post is published.

What if you don’t want to cash out but you want to keep your digital tokens in your account? That’s fine too.

Steemit pays you!

Note: I find it interesting that the top writer is paid more than the lower writer, The top writer, Heartbeat1515, has one less upvote, and they have an equal amount of comments.

Steemit makes it extremely clear that Stemians are not paid equally.

Strategy

  1. If you focus your efforts at the site on building a following and connecting with the community, people will become aware of you and upvote your content. Then, monetization can and should follow.

Make sure you tag your posts so people interested in your content can find your articles. You can even search tags so you can find other writers in your niche.

You can search for content that is “new,” “hot,” “trending,” and “promoted.”

You can “follow” certain writers so their posts appear in your feed.

Steemit is similar to Twitter when it comes to resharing other people’s content. You can send other writers’ articles to your followers. Sharing other people’s content is called “resteeming.”

Advice on how to build a following can be found here.

2. Don’t use all your voting power at once. It will deplete each time and be worth less value. Your voting power recharges at 20% each day so it will take 5 days of not upvoting once you use all your power to have 100% upvoting power again.

Steemit Etiquette

There are no official rules for appropriate behavior on Steemit. However, a member created a guide to proper behavior on Steemit, and everyone seems to follow the rules in the guide.

Wrapping Up

Although I found Steemit’s rules confusing at times, I believe the site has great potential as an online community and a revenue sharing site.

Apparently, revenue sharing sites have come and gone quickly.

In the comments section of my Virily review, bloggers expressed great concerns that Virily wouldn’t stand the test of time. I’m sure similar concerns greet Steemit.

Unlike those naysayers, I do believe both Steemit and Virily will stand the test of time.

Why? Virily has been around a long time now and is continuing to evolve and grow and ride the wave of what’s popular in online communities.

Why do I think Steemit is here to stay? 

As soon as I posted my introduction, I could see other people had posted their content only seconds before.

This is not a stagnant site. People are posting in real time. Definitely, an engaged as well as a driven community.

Within 37 minutes, I already had 6 upvotes to my introductory post and 6 comments welcoming me.  A GIF of an animated monkey even showed up to wish me well in the community.

Clearly, this is an engaged, growing, dynamic site.

What about you? Are you ready to Steemit?

I look forward to your views. Is Steemit a site you’d consider using?

Please share so other content creators know that Steemit can be a fun, traffic-generating, and money-making community.

 

Source:

What is Steemit?

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    • Janice Wald at 11:35 am

      Hi Jeanette,
      I just read an article about Steemit this morning by a Steemian who says she pays all her blogging bills from money she makes at Steemit. She even included screenshots so we could see the proof. I am definitely going to become more active there. Let’s look each other up there. I am glad I could help! Thanks for writing to tell me. From what I can tell, using the site will be more lucrative than using Virily.
      Janice

    • Janice Wald at 1:01 pm

      Hi Jerry,
      This would be a great way for you to monetize. I told another commenter I read just today a Steemit user pays her blogging bills this way! I’m sorry you’re confused. Did you follow my instructions in my post?
      Janice

  1. Melody Lassalle at 2:11 pm

    If I am understanding this correctly, you earn by engagement (upvotes, comments, etc)? I’m wondering what safeguards Steemit has in place to combat fraud. I remember signing up for a blogging community years ago that paid for comments and likes. It didn’t take long before people gamed the system by grouping together to like each other’s work not matter how poorly it was written.

    There was the community Tsu that also paid for engagement (likes, shares, followers). It wasn’t long before people started scheming the system by chasing after followers and advertising to follow them.

    Steemit sounds interesting. I’m just a little reluctant to get involved with something like this again. Unless I am misunderstanding how it works?

    • Janice Wald at 4:04 pm

      Hi Melody,
      1. They definitely have bots there. Do you know how I know? The bots introduce themselves to you. They tell you they’re bots. A robot named “Cheetah” upvoted my last post. I don’t know why, but I think it’s cute.
      2. I have read people begging people to upvote them (a practice banned at Reddit). That sounds pretty upfront to me and not machinations or they wouldn’t have to lobby (pander? spam?) for upvotes.
      3. Everyone there seems to be having a load of fun. Extremely active. In the blink of an eye so many new posts there. Based on my observations at Steemit and Twitter this is a happening site that is here to stay.
      Having fun, meeting new people, making money to pay the blogging bills, hey, I’m there.
      Thanks for commenting.
      Janice

  2. Melody Lassalle at 7:08 pm

    Janice,
    Thanks for your response! I guess I’m natural skeptical.

    I did take a look at Steemit and I was impressed at the quality of the articles. I didn’t see anything like “why you should follow me”, or like I saw on the website I mentioned, pages copied from manuals and passed off as a person’s original work.

    I might sign up just to see what it’s all about.

    I am confused about the steem coins. How does one cash them out?

    Thanks for your insights!

    • Janice Wald at 12:56 pm

      Hi OffGridLife,
      $10,000 in eight months! That’s a crazy amount of money. You have definitely inspired me to devote more energy than I already have to Steemit.
      Thanks for helping my reader, Melody. You sound very knowledgeable. I appreciate you coming by and giving us clarity about Steemit.
      Janice

        • Janice Wald at 1:03 pm

          Hi OffGrid,
          I plan to! Thanks! I’m Janice Wald over there. I am interested in Smartphone photography, so I will enjoy your posts.
          Question: when you give them your account number to transfer the money, it’s safe right? They can’t withdraw from your account? I’m sure it’s safe. Many people are happily there, but can you please explain why. Would they need our account password to withdraw? Thanks,
          Janice

          • Janice Wald at 6:44 pm

            Hi Off Grid,
            I followed you over at Steemit. You’ve built quite a community for yourself. Congratulations.
            Janice

  3. Freddy G. Cabrera at 9:40 pm

    Hey Janice!

    I have heard about this site a few weeks ago. It’s pretty much a social network that shares the revenue with its users. I pretty cool concept I’d to say.

    I have seen a few more social sites like this one in the past, though. And the few that I’ve seen in the past have actually shut down over time. Although this is a very nice concept where everyone can win a little, I don’t really think it is a smart idea to spend a lot of time on it. It’s just like any other social media platform, you do not own the platform so your time put into them can be at risk of being lost forever.

    The only good thing, as you mentioned in a comment above, is the content you get to read from different people. Also, it might be a good way to get your content read as well, I would just approach this in a smart and organized way – where if anything happens to the platform I wouldn’t be in such a loss of time and effort.

    I just wanted to share my most honest opinion on such concept! 🙂

    Thanks for sharing your thoughts on this!

    Best regards! 😀

    • Janice Wald at 12:59 pm

      Hi Freddy,
      I appreciate you coming by and offering us a different perspective.
      You wrote:
      you do not own the platform so your time put into them can be at risk of being lost forever.
      I agree. I know people who’ve lost content or spent hours trying to save their content.
      At Steemit, you don’t have to create new content. My content is saved on my blog if the curated content at Steemit gets lost.
      Thanks for trying to warn us for people who compose original posts at Steemit.
      Janice

  4. Anil Agarwal at 11:39 pm

    Hi Janice,

    This is a very wonderful post, and an eye opener to many people who haven’t heard about Steemit before.

    I’ve heard a lot about this platform and how people are making lots of money from it, but I haven’t taken the time to check it out. You know sometimes, we can’t possibly be everywhere at the same time, trying might even make us to loose all.

    I’ll make out some time later to check out the platform and see what it looks like.

    Thanks for sharing.

    • Janice Wald at 1:01 pm

      Hi Anil,
      Thanks for complimenting my post. I appreciate your comments and your compliments. People seem to be having a lot of fun. Did you read the comments of the commenter who said he made $10,000 in 8 months? Impressive! I want to spend more time there now. Great to see you.
      Janice

  5. Ryan Biddulph at 5:14 am

    I dig Steemit so much Janice. My issue; energy. I devote 99% to my blog. Only 1% to go around. At least work-wise. I did Steemit for a few months. Saw some sweet growth. Definitely mad potential there for resonant folks so dive in guys if it sings to you. I am digging this review too. Excellent job.

    My only resistance in the beginning; the mining process is highly complex to me. Many steps because Steem Dollars are fighting resistance, even as some crypto takes off. Especially for US folks, we face more hurdles attempting to mine the stuff. I should dig deeper into mining now in Thailand; likely an easier process.

    Ryan
    Ryan Biddulph recently posted…5 Tips To Be An Absurdly Prolific Guest PosterMy Profile

    • Janice Wald at 1:07 pm

      Hi Ryan,
      I’ve been getting an educating. Unfortunately, I still don’t know what mining is.
      1. What is mining?
      2. When you say you saw sweet growth, do you mean there or people followed you back to your blog?
      3. I figure, I’ll continue to play around there, and when the time comes that I want to withdraw money, I’ll try to educate myself further about the financial aspects of this then. Thanks!
      Janice

      • Ryan Biddulph at 8:13 pm

        Hi Janice,

        1: Mining is the process of converting crypto-currency to USD, or your currency of choice. This is a bit complex at first view. I’ve not done it yet. About 3-4 steps involved – or more – because since crypto is traded in unstable markets, due to security issues and volatility, it’s kinda difficult to turn Steem Dollars or any crypto to USD. One site to the next, trading, another conversion to another site, setting up accounts of multiple sites, loading your crypto wallet….confused the hell out of me LOL.

        2: Yes; my blog and on Steemit. But of course I did ample networking on Steemit, commenting on and sharing posts, to see growth.

        3: Go for it!
        Ryan Biddulph recently posted…100,000 Plays Here We Come in Only 2 Podcast EpisodesMy Profile

  6. Smiling Notes at 3:20 pm

    Very interesting post. I like that you are not limited to just blog posts but can post photos, quotes etc. I have a ton of photos on my phone as well as camera and I would love to give this a try!

  7. Vyvian Chacon at 10:48 pm

    Hi Janice, wow I didn’t know about Steemit. Very informative article. Thank you Janice for all the information on Steemit…..sounds promising. I’ll check it out and I like fact that you don’t have to create new content.

  8. Taiwo Emayosanlomo at 12:24 pm

    Hi Janice,

    I have heard about steemit before now in a writers group I belong. However, I didn’t know how it works.

    Your article is an eye opener, and I think steemit is worth giving a try.

    Thanks for sharing.

    Taiwo.

  9. Richard Monssen at 12:44 pm

    Hi Janice,

    I discovered Steemit because I was getting visitors to my site from there. People have curated some of my blog posts on there and as such I got curious and signed up. I’ve not got enough time to maintain another blog (struggling to keep up with just mine) as I have about 50 million things on the go at the moment.

    I love the idea and concept of Steemit and it’s one of a few cryptocurrencies I can see doing well. Last I heard it was passing 750k users so it’s early days yet. I think this would have to be one of the easiest ways to make an income online at the moment. I’ve seen single posts on Steemit reach values of $1500+

    When I get the time I’ll use the tips you’ve posted here – love them thanks heaps 🙂

  10. Monna Ellithorpe at 2:11 pm

    Hi Janice,

    I haven’t heard of this site until now. While usually, I jump right on a site like this, I’ve made myself promise to stick to my “Online Diet” of nothing new until I get some other things finished or at least up and running.

    Keep us updated on it and I’m sure I’ll be back to take another look in a while.
    Monna Ellithorpe recently posted…Thank You For Visiting in February 2018My Profile

  11. Treathyl Fox at 4:33 pm

    I have heard of this platform. A fellow blogger and friend is using it with great success. I wanted to try, hoping that my experience would be the same. But I am not able to report that. I tried to create an account and never managed to get the gateway to open. By that I mean, if you visit the site you will see that the account I created does exist (user name: cmoneyspinner). However, when I received a confirmation eMail to try to sign in, it said my account did not exist. That’s when I discovered that Steemit has no Customer Support. If you have a problem with accessing your account … too bad, so sad. In fact, you can’t even request an account deletion. I describe my Steemit experience with one word. TRAGIC.
    Treathyl Fox recently posted…You Can Earn Income From WritingMy Profile

    • Janice Wald at 4:43 pm

      Hi Treathyl,
      Thanks for commenting on my Steemit review.
      Your experience was tragic; mine is mixed.
      1. Let me respond to what you wrote first. You said there is no customer support. This is true to an extent.
      What extent? I know someone who lost her password; as you said, “So sad; too bad.”
      However, there is tremendous support from other Steemit users.
      If you go on Twitter and use #SteemitBloggers in your tweet, they’ll support you.
      At Steemit, there are these groups who use an app called “Discord.” They help each other. There’s even a Steemit School.
      2. Happily, I became acquainted with someone in the know who tried to guide me.
      3. Why is my experience mixed? People are making thousands of dollars over there. Cut me a slice of that pie! However, I joined right when Cryptocurrency (Bitcoin?) was experiencing a tremendous crash. I spent hours there one week just to see my “Wallet” get lower.
      Going forward, I’ll only go in once a week to shield myself from disappointment. Why go in at all? At some point, cryptocurrency will turn around. I want to be there when it does.
      After getting your comments, I went to Steemit to see if I could find you. You aren’t there.
      Janice
      Janice Wald recently posted…Inspire Me Monday Linky Party #173My Profile

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