TRON and Steemit Integration Celebration Challenge| What to do with TRX earned on Steemit

in #trxintegration4 years ago

I will like to say that the news of TRON-STEEMIT incorporation is one of the most welcoming news we've received since I got on board the platform about 3 months ago. I'm sure still reveling in this good news and the feeling is going to last for a few more weeks barring any other new inventions or innovations.
Getting additional earnings on posts as authors or as curators in the form of TRX is something everyone welcomes.

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Image from google.com

How To Maximize TRX integration

The TRX integrated into our dear Steemit ecosystem is given at a ratio 1:1 to Steem Power earned either through Author's reward or Curator's reward meaning you're paid TRX the exact amount of SP earned. This can be maximized by setting each post to 100% power up. This single act gives twice as much as the expected TRX returns on each post.

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Image downloaded from google.com

What to do with the TRX earned here on Steemit?

When I dropped my entry into this contest, I really didn't know what to use my TRX for. All I could think about were using it to power up or take to the market to sell. In my recent discovery, I got to understand that taking it to the market as free coin affects the integrity of the crypto itself which in turn affects it's market value. So what then can we use the TRX for instead of taking it to the market? This question can be answered directly from your #steemitwallet

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Screenshot from my steemit wallet

Vote APY

Vote with TRX for SR nodes to contribute to the TRON ecosystem and you’re expected to earn over 8% APY.

You need to freeze TRX first to get the voting right before casting your vote.

Here are the steps:

Steps

  • click "Voting" to access Tronscan voting page
  • click "Link wallet", and then select "Import account to log in".
  • enter the private key of your TRON account and click "Login".
  • click the "Vote" button and follow the instructions.

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Image downloaded from google.com

What is APY?

APY means ANNUAL PERCENTAGE YIELD.
APY is the amount of interest you earn on a bank account in one year.” Simple interest doesn't compound, so you earn the same amount of interest every month....

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Image downloaded from google.com

The higher a savings account's APY, the better. Many online banks offer APYs around 1% but in the TRON ecosystem, you earn a whooping 8% for voting APY.

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Image downloaded from google.com

How To Calculate APY

This is done almost exactly how compound interest is been calculated... APY compounds year by year depending on the number of years intended.

Note:

  • For you to vote APY, your TRX will be frozen for the period of time intended in order to get your voting right.

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Screenshot of my Steemit wallet

  • Once your TRON wallet is created (it is created automatically for steemians) don't click the "update" except when necessary because you will lose all TRX on the initial wallet... I made this mistake twice and I paid the price immediately.
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I will like to say that the news of TRON-STEEMIT incorporation is one of the most welcoming news we've received since I got on board the platform about 3 months ago.

I agree with you here but instead of three months mine is five months ago.

I'm definitely going to trying voting with it but I'm gonna meet my mentors so that they can show me how to do it.

Don't forget to share this wonderful article on Twitter and include a screenshot and link in the comment section of this post.

#onepercent #nigeria
❤️❤️❤️❤️
Becky.

@beckie96830 I've been uploading on Twitter but I'm yet to receive any renumeration from doing so

@beckie96830 I need your help getting link to my post shared on twitter

Thank you for taking part in the TRON and Steemit Integration Celebration Challenge.

Keep following @steemitblog for the latest updates.

The Steemit Team

Thanks @steemcurator01... I will keep following