What is steemit? How does it pay? by naseerbhat

steemit · @naseerbhat · Jul 17 '17

$3.68

What is steemit? How does it pay?

**what is steemit?**
![image](https://img.esteem.ws/s5rqsxykf2.jpg)

Hello @steemit guys today am gonna post about what i know and what i have learned about steemit platform.i will be simple in my language and terminology as much as possible. So here it as **steemit** is a social networking site where anybody having an email account and a valid phone number can join. The account is free of cost means you dont have to pay even a penny or a cent for joining @steemit. And in return you get paid by steemit for the content you post on the site. You are being paidout by steemit depending upon the upvotes your blog gets and the payout of a post is transfered to you steemit wallet in 7 days.

**Where from the money comes?**

You all might be wondering that why does steemit pay for the content which you used to post without any payback on other social networking sites. So here is the answer... Steemit pays you in two tokens: steem and steem dollar.

**Steem**
Steem is the base token awarded by steemit to its users. You can exchange it in various cryptocurrency exchange markets and site or invest in bitcoin. It is also used to raise the steem power (SP) of an user.

**Steem power (SP)**

![image](https://img.esteem.ws/5d0kpp9o0j.jpg)

Steempower is the steem that has been invested in the contract to determine the influence of the user compared to rest users on the platform. The more the steempower more is the value of the vote. New accounts when created have a small ammount of deposited steem as a reward in the form of steempower. Content creators have two options for the payout of the post reward as 100% payout as steem power or 50% as steem power and 50% steem dollar.

**Steem dollar**

![image](https://img.esteem.ws/rjv2oqov17.jpg)

Steem dollar is a sort of currency which you can trade at crypto currency exchanges and can be used for the payments incase cryptocurrency payments will be acceptable in the market. Steem dollars can also be converted to dollars in cryptocurrency markets or sites. The steem dollar value at a particular site varries according to the terms and conditions of the market or site. The payment can be transfered to your bank account within a period of 30-45 days after you make a payout request at any transfer site.
To be contniued ....
I had read about this on steemit and winkipedia so everything i posted is legal.

P.s all this content is original and my hardwork make it payoff guys. It is worth that...
Keep steeming and earn some dollars. @steemit
For better posts and upvotes start following @saramiller @randowhale @birds90 @halo and @good-karma
**Thank you for your upvote and follow @naseerbhat**
*Have a nice day: bye - bye*

👍 randowhale, pharesim, good-karma, randowhalebonus, minnowsupport, naseerbhat, stewiegriffin, holoz0r, lastminuteman, bitcoiner, mirhimayun, isteemit, feruz, steemprentice, randowhaletrail, duskymoonlight, ebargains, esteemapp, stephen.king989, abagnes, zegatopolo, ogochukwu, raymondspeaks, venuspcs, sinned, shellyduncan, shawnfishbit, violetmed, choogirl, diana.catherine, jhermanbeans, gindor, heretickitten, pomperipossa, banjo, n1kofi, marcusxman, mrwanderlust, starrkravenmaf, cloh76, fronttowardenemy, cryptohustler, kenchung, bounties, steempoll, demo, gyanibilli, loreennaa, tipping, burnedpixel, worldtraveler, taica, tjtrusty, myday, starsteem, whatamidoing, philosophist, numpypython, mysteem, cryptonet, efrageek, erickjongo, satfit, mattatron

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n1kofi	247,675,937	1%
myday	115,460,198	0.1%
satfit	50,130,447	0.5%
cryptonet	61,452,879	1%
mirhimayun	2,712,797,690	100%
naseerbhat	6,393,760,520	100%
violetmed	468,948,862	1%
philosophist	111,688,193	1%
randowhalebonus	62,265,188,860	2%
duskymoonlight	1,160,673,427	100%
zegatopolo	899,521,873	100%
stewiegriffin	4,203,979,099	100%
abagnes	905,325,017	100%
randowhaletrail	1,238,167,392	2%
mattatron	0	100%

@parmjit · Jul 17 '17

Nice post, i will follow your account, please follow me ...
https://steemit.com/@parmjit

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@hauntedbrain · Jul 17 '17

Great post
Can steem dollar be converted into bitcoin?
Thanks for sharing

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@minnowsupport · Jul 17 '17

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by naseerbhat from the Minnow Support Project.  It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123.  The goal is to help Steemit grow by supporting Minnows and creating a social network.  Please find us in the <a href="https://discord.gg/HYj4yvw">Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p>

<p>If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.</p>

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@ionlysaymeep · Jul 17 '17

meep

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@randowhale · Jul 21 '17

$0.08

This post received a 3.6% upvote from @randowhale thanks to @naseerbhat!  For more information, [click here](https://steemit.com/steemit/@randowhale/introducing-randowhale-will-you-get-the-100-vote-give-it-a-shot)!

👍 nextgencrypto

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properties (23)vote details (1)

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nextgencrypto	0 B		21,774,176,767	1%