Let's Talk—Has Your Personal Finance Improved From Using Steemit?
Steemit has paid out over $20 Million dollars worth of it's cryptocurrencies Steem and SBD in the past 1.5 years. All of us active users of this platform and other applications using the Steem blockchain have benefitted from the payouts we've received.
Steemit in my opinion is one of the best gateways to the world of cryptocurrencies. Especially, if you are weary of investing your fiat-money. You can still participate by using Steemit, earning a little bit of crypto along the way and do whatever you wish with it. Today you have new Steem blockchain based applications such as @busy.org, @jesta's Chainbb, @utopian-io, @steepshot, @dtube, @viewly, @zappl, @dlive and more where you can earn free Steem crypto. You can also post through the @esteem mobile app.
Just as many others I began my investment in cryptocurrencies with Bitcoin. I wasn't an active investor for a long period of time until I stumbled into Steemit. Starting with 10SP at the time of registration I have somehow managed to grow my account significantly through hardwork and consistent participation.
In recent months I've begun actively increasing my cryptocurrency portion of my investment portfolio by reducing my crypto->INR conversions and withdrawals. Apart from traveling and a few other personal expenses I managed to save a lot of it in crypto. I have experienced first hand like many thousands of Steemit users, the benefits of being invested in the crypto space for the long haul.
I've realised very early-on the long term potential of this platform to create a new economy that could provide financial sustenance for thousands of users including myself. It was my goal to reach a certain figure in Steem Power before the price went up significantly and hence I stopped selling any Steem 11 months ago.
In the past few months I've sold SBDs to either buy SP or buy and hold Bitcoin. Both proved to be good decisions as Bitcoin went up significantly pulling up Steem as well. In the future when BTC prices pumps even higher I hope to re-invest some of my savings in Bitcoin back into Steem.
Holding SP throughout the year allowed me to increase my VP and bring new users from to the platform and support their work. My government forcefully cannot tax my Steemit tokens (similar to any other crypto in your wallet) unless I sell them and withdraw rupees. Steem is steadily rising to become a store of value and the massive potential for it's blockchain may yield a good return on investment in a few years. These are good incentives for holding SP.
I'm powering down to maintain some liquidity in case of any emergency including freak price pumps so I can sell and buy lower and increase my SP.
Using the platform and working to build it's community has given me a stable income from my content posted on Steemit. Steemit Wallet is one of the most secure wallets out there and I feel confident that my money is safe on my wallet here.
Earning Steem and SBD cryptos has allowed me to diversify and invest in other incredible projects and keep my money invested in this domain instead of withdrawing and paying taxes on it to a government that is least bothered about my financial security.
I'm able to pay my bills, afford good medical care and better insurance from my earnings on Steemit. I'm also able to give back any extra that I have to the community around me! It served as a backup when I met with my accident and even as I don't need to withdraw SP, it sits as a great rainy day fund slowly accumulating as I continue to post, curate and invest in it.
Some predict the Steem price to go over $10. But I'm happy even if it's at $1-$2 (better distribution) but we're at $500 million market cap today in about 2 years of the platform running and the future looks bright. I hope we continue to grow and change the world for the better, even if a little bit in the years to come! It is with this belief I log-on everyday and use this platform and it's blockchain technology.
Few days I wrote a post asking how you discovered Steemit. It received overwhelming response and I enjoyed reading each and every single one of the comments left by my readers and followers.
I welcome your opinions and stories about how the platform and blockchain has made a positive difference to your personal finance in the comments below.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- India Has The Highest Number of Facebook Users In The World—What Does It Mean For Steemit?
- 4 Tips For Steemit Account Recovery & Wallet Security!
- Steemit.Chat Contest #8 + Contest #7 Winners Announcement!
STEEM is a monumental game changer for content creators on the internet. My life has improved in many ways from using this platform, and my wallet is only just a small part of the benefits.
I just started with STEEM. What do you do most to maximize your benefits?
Be yourself! Interact with other people in the community. Find people that post content that interests you and make comments to start intelligent discussions. With so many awesome people from so many different backgrounds in one place, STEEM is an incubator for brilliance.
Thanks jeffjagoe, that's a great advice. Hope its not too late to start with. I see STEEM has a lot of potential for new people. I think it gonna gain more attention and power than other social media.
It is not too late by any means! People who join these days are still early adopters of the platfrom, so there's still time left to grow here.
Yup you are right buddy
Steemit is a great opportunity for my family and friends in Viet Nam. But in Germany the extra Steem doesn't affect my life. Anyway I am not complaining and am happy to be part of this crypto journey with Steemit :D
I must say that steemit made it easier for me to invest in crypto. In the longterm i would like to use primarly steemit for social media and content creation. So i can say, it improved my finances💪
Dear @firepower, YES It did in a certain way !
Without the Steem I would not participate in Steem Fest 2 ! And Steemfest 2 changed my life forever so YES Steem changed something ;-)
But in my personal finance (like daily finance)... it could if I wanted to take off the steem out of the plateforme.
I don't want to power down and take off the money. I maybe will to support another steem account if we create one for the french community, but I will probably not use it for now.
I prefer to have more SP to reward more the people who interact with me and who create great content in the french community !
Also, I believe in Steem so... Hold is the key :-) You never know where the Steem will be in few months !
So, I do hope I can use this crypto in the futur to help me to improve my life. For now, I can still survive on my saving so it's ok :)
Hey @roxane
Can you please explain me in brief about Steem Fest?
How could I particpate in it?
Where do get the updates about it?
I'm glad you feel this way! I'm sure you will find greater success as you continue using this platform.
Yes! Steem is kind of revolutionary in a way because it bring two of the most important technologies together (crypto and Social media) I'm surprised it's still only $2 wich is great but i think it will go much much higher
Awesome post :)
I am trying to think of my Steem wallet as a kind of retirement account or maybe just to eventually pay off my car loan or even my house.
I recently joined the Steemit, but in this short time I managed to love this platform and the fact that it opens huge opportunities for all users. There are many smart and talented people from different parts of the world here, it is here that you can really learn something for yourself, raise the level of knowledge, communicate with interesting people of course, earn money. thank you for the interesting article, I'm proud to be part of this community
for me steemit is a container that can eliminate poverty in the world .. if everyone knows and can manage this platfotm well then, there will be no more trouble in this world. bravo steemi ..
I agree. Right now, I'm on the learning curve, but that's been fantastic. I learned about so many blockchain applications that I never would have known about without Steemit. Also, it's pretty fun to connect with people from all over the world. Of course, I hope to build my presence here over time, but that's not the main priority right now.
Sharing experience with others increase the collective wisdom of people. Practically thefirst crypto I 'earned' is SBD/STEEM. I have learnt alot from this platform, gaining knowledge from people across the globe is priceless. Future of cryptocurrency is bright and for steemit it is brighter.