Steemit - Easy guide for beginners

Alright guys – since I've been new to Steemit as well as maybe a lot of other guys I believe it might be helpful to have some guidance in getting startet with Steemit and how to use it as a useful tool.

Therefore, I read a lot of other articles and guides and created a personal list for all the newcomers (including me) to give you a first overview and – as for me – the most useful tips on how to get the steemtrain started.

I tried to keep it very simple since I am not an expert myself and wanted you to get started easily and without the obstacles that I faced in the first place.

So, let's get it started:

1. Steemit? What's that?

Steemit is a social network like Reddit, but with one huge difference:

Steemit pays the content creators when their work gets upvoted AND (and that is special) the people who curate the best content on the site by upvoting others work. So – it is a perfect win-win situation.

And it doesn’t cost a penny to get started. You can create a Steemit user account for free, right now, and be publishing your content directly to the site within seconds.

2. How does Steemit work?

In some ways, Steemit is similar to other digital currencies. For example, Steemit currency units can be traded, bought, and sold on the open market just like all of the other digital currencies.

Steemit allows for currency mining as well. Every day, new Steemit currency units that are created by the network and distributed to the people who engage with the site. The more you engage, the more you earn.

People who create content are rewarded for their content. People who upvote content are rewarded for helping to curate the best content available on the site. Commenters who add to the discussions are paid too.

3. Three different Steemit Currencies:

There are three different kinds of Steemit currency units.

There is Steem, Steem Power, and Steem Dollars.

a) Steem:

Steem are the units that are bought and sold for actual money on the open markets. You can trade them as you would bitcoins or a company’s stock.

But you don’t want to hold on to these for too long because more Steem Units are created every single day. If you hold onto Steem Units for a long time, they will become diluted and lose value.

b) Steem Power:

Owning Steem Power Units is essentially like making a long term investment in the currency because you can’t sell Steem Power Units for 2 years. But there are a lot of good reasons to have Steem Power.

By keeping your currency as Steem Power Units, you will be able to make considerably more money in the long run because you essentially have ownership in the network. As the network grows, so will your piece of the pie.

And you’ll be heavily rewarded along the way. The way things are set up now, 90% of the new Steem Currency that is generated every single day is distributed to the people who already hold Steem Power Units in the form of additional Steem Units.

Half of the pay you receive for your content will be in Steem Power Units.

Also, the more Steem Power Units you have, the more your curation vote will count. You will have more influence on the site and you will also get paid more for upvoting other people’s work. (When you upvote someone’s work, they will get paid more as well.)

Steem Power Units also play one final and very important role. They prevent massive price swings and volatility on the open markets. Because everyone is locked in for 2 years, we can’t all sell our currency all at once if the market starts to dip, which would crash the price were it to happen.

c) Steem Dollars:

Steem Dollars are the third form of the currency and never get diluted or lose their value. They are designed to be a stable currency that you can sell at any time. When you create popular content, 50% of your pay will be in Steem Dollars.

And you’ll be rewarded for holding Steem dollars too. It’s not nearly as much as the rewards for holding Steem Power. But because it still keeps the currency in the network, holding Steem Dollars pays 10% interest.

4. Why you should start now?

The short answer is that you have nothing to lose. It is 100% free and you can actually get paid for your posts and upvotes.

Also, Steemit is growing at an explosive pace! Hundreds of new users are pouring in every single day. And it is going to become one of the top digital currencies in terms of market capitalization.

5. How to get started?

a) First things first, you need to setup your account (it is pretty straight forward)

b) Having that done you should consider creating your first post.

To start publishing content, all you have to do is click "Submit a Story" at the top right of the screen.

c) What to write about?

It is strongly recommended to write about something that is highly valuable or entertaining to everyone else. Try to create content that delivers the most value to others. This isn't rocket science, even if you are not a professional writer.

5. Final thoughts

There is no reason to wait any longer. It is simple. It is quick. It doesn’t cost you one Dollar.

Together – we will make Steemit a part of our way to personal & financial freedom and independence.

I wish you the very best in doing so.

Best
Alex