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.
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:
- Upvoting According to Steemit, 25% of the monetary rewards go to the people who voted for the article.
- Posting content and receiving upvotes
- If you “discover” a soon-to-be popular post, you’ll get a finder’s fee called a “curation reward.”
- 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.
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.
- 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.
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.
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.