The ultimate steemit beginners guide !
It is difficult to get started with steemit because it has too many function and the guide from the website is not enough. There are some videos in YouTube to explain you what steeemit is all about but they are mostly complicated to understand. Therefore we bring you the easiest guide to your favorite social media.
If you are new, reading everything from top to bottom will surely help you and we recommend you to read all !
- Steem, SteemPower & Steem Dollars
- Buy, sell and Withdraw
- Where money comes from ?
- Post & Style
- How much your upvote worth ?
- Password & Private keys
- Your desired Profile Picture & Cover Photo
We know most of you joined to make some extra bucks. But when it comes to the wallet of steemit it becomes pretty confusing. You can see many things and your total estimated balance.
This is how your wallet looks like
We will discuss what is steem, steempower and Steemdollars in next topic but let us know their value. Currently Steem and Steempower are worth around $1.81 and same goes to steemdollars. The estimated balance shown is the sum of all of this converted into USD.
Everything becomes a lot more confusing when you see rewards, when you click it then it will show, Curation and Author reward.
Most beginner think that it is some more extra bit of money but we are sorry, it's the same money you will get and this section is just to show from which post you got your money from !
Curation Reward - Steemit is an incredible place where you not only earn from writing your post but you also get for finding a post that you think is good for community. For finding a good post for others to read you get some curation reward. It will depend upon the power with which you voted him/her and how will the post perform. But to be real beginners with less power do not earn anything from curation.
Author reward - It is simply the reward you get from writing a post and commenting on an article.
Steem, Steempower & Steemdollars
If you are completely new to this blockchain and cryptocurrency thing then it must be hard for you to understand. To make it simple, think steem as bitcoin. Steem is also a cryptocurrency (Bitcoin too is). Steem price will also fluctuate as bitcoin price is fluctuating. It is simply a method of payment in steemit.
Steem Power :
Steem Power is literally Steem but in a different form. The price is same, currency is same but you will need 3 months to withdraw Steem Power. Steem Power is like how much share do you have in the community. If you have 50 SP then you will have 50 SP share in steemit out of millions of SP. The power of upvote you can make depends upon SP you have.
Steem Dollars is basically dollars of steem. It becomes really confusing in case of Steem Dollars because Steem Dollars is meant always to be pegged to 1 USD. That means if you have 5 SBD then you will have 5 USD. But now we don't know why the value of SBD is also fluctuating as Steem. Once the value of SBD almost reached $20 making users rich. But inside steemit, the value of SBD is always set to be 1 USD. To make it simple, think about you have 5 SBD in your wallet and no Steem and no Steem Power. Then the wallet estimated balance shows you $5 but if you withdraw your SBD then you will have $10 to $100 depending upon the current price of SBD.
Do you wonder what is that +16.291 is just below the Steem Power ?
This is known as delegation. It is the power given to you by someone so that you can vote with more power. Initially Steemit gives delegated power to all newcomer so that they can vote with little more strength. Later you can ask someone with high steempower to delegate some power to you. You can pay them to do so or if they are your friend then they can delegate you some for free. But if you don't have any friend from whom you can ask delegation from then you can pay to get some delegation. I got 16.291 delegated power for 3 months by paying 1.6 SBD to @blocktrades.
You can check this article to know how to delegate from blocktrades.
Buy, Sell and Withdraw
This is another major topic to be discussed. There are till now 1 ways to withdraw SBD and Steem. 1 way to buy and 1 way to sell.
What is the difference between sell and withdraw ?
- If you are selling you SBD/Steem then you can bitcoin and other coins for that. Suppose you with draw 100 SBD then you can directly get 0.05 Bitcoin in you wallet.
- If you withdraw, then you will get payment in SBD in your another wallet.
To buy Steem and SBD you can click a small arrow just right to you and click buy.
Then you will see this:
Check how many bitcoin you have in your another wallet. Then click in get deposit address.
When you get your deposit address then send you bitcoin to the same address and you will get your Steem or SBD
Selling is the reverse of buying. Instead of clicking buy, you can click sell. Then it will say how much you want to sell and in which address you want to deposite you bitcoin to. Provide with the required information and you will get your bitcoin in your address.
Withdraw process is little different that other. Currently you can withdraw you SBD and Steem in bittrex. First log in to you bittrex, search SBD in you search and click + sign behind the name. Then copy your memo.
Then come on to your wallet section and click transfer. Then type as shown below.
- Make sure you typed bittrex with correct spelling and make sure your memo is correct or else you will loose your money forever.
Where does money comes from ?
Many beginners fear that is steemit a scam or else how can someone give this much of money without ads. Newbies must have a lot of problem starting with because there are so many people who claim they are earning but this is too strange to be believed and too good to be true.
But where does money comes from?
To understand it take is like gems in clash of clans. Do clash of clans pay for gems ? Do you pay to get free gems?
Steem and SBD are like gems for steemit. They generate some Steem and SBD per day and distribute to us. We think it has value so it will have value. It is not like the website is giving you money. They are just giving their tokens and people are willing to pay for it's token so you will get money.
And you need to know steemit do not have any excess to your wallet and to your password.
Where does all those written data stores then ?
This is the concept of decentralization. There is no central server. Everyone of you store data. Like the data of bitcoin is process by the miners we have witness in steemit. This is whys you won't be able to delete your account or post.
Posting is the most vital thing you will do in steemit. Your most must be good and quality enough to make some viewes click your post. Here are the tips to make your post quality.
Your first picture
Your first picture is like your thumbnail in youtube. People will click your post looking your thumbnail. Make it as attractive as possible.
Use Markdown styling Guide
To use markdown styling guide you can click "Markdown Styling guide given below while writing post."
But it may become very confusing. So here are the list of things you may need to know.
- Making text bold
To make text bold do as below:
Your bold text
To make italic use only 1 *
To use the bullet used here just type - before your text
To make a text center use
- To hyperlink a text use
How to make reader read your post ?
- Be friendly with them
- Start with interesting topic
- Use short and explanatory title
- Remind followers to upvote and follow at last
- Give your time, it took 4 hours to research and write this post
How much your upvote worth ?
To know how much your upvote worth you need to know different things:
- It depends upon number of Vest you have
To know how many vests you have you can go to www.steemd.com/@username
It depends upon your voting power
Generally you can vote around 5 posts with 100% voting power and then your voting power decreases. To check your voting power go to the same website given above.
Price of Steem
If the price of steem goes up your voting power also goes up simultaneously.
Generally 100 SP can vote with $0.02 to $0.05 power.
Followers are the most important people to you. But many steemians use follow to follow to get some followers. But it is extremely dangerous to do so because you will later end up with too many followers but won't get any upvotes because your followers do not like your content.
Bots are another vital things you need to know about steemit. There are different types of bots but most important for you is voting bots.
- Voting bots
Voting bots makes it easy for you to make your post visible. Basically what you need to do is send some SBD/Steem do a bot with your post link in the memo and the bot will vote your post.
Some famous bots are:
Good use of tags gives you the right audience. Many newbies don't care about tags. Here are the tips how to use a tag.
This is the tag in which you get the most attention. There are many people to welcome you in steemit. When you use this tag they upvote you and comment on your post. But this tag if used more than one times leads to scam.
If you are helping someone with steemit then this tag is also one of the most viewed tag.
This are the most famous tag, try to use them if the topic is related.
You can see all of them in the right section of steemit home page too.
Password and Private Keys
Steemit shows you seven rules of password to make you not loose your password.
This is very important because steemit do not stores your password. Unlike facebook which stores everything about you, steemit do not store anything. So it's better not to loose your password. Write your password either in a copy or in a computer hard drive.
But if someone stole your account then you can recover your password. Stealing means if someone change your password without letting you know.
Click here to know more
Private posting key is what you will give to a third party website. If a third party website asks you for a password then give them your Posting key only. You can see your posting key after clicking your wallet and then permission. But you must trust the site first.
Profile Picture and Cover Photo
It is again different than facebook, you cannot directly insert your profile picture in steemit. First you need to make a URL of it and then paste the URL. For this either you can insert your picture in facebook or google and make a URL of it and then upload it in steemit.
But you can do it by another simpler way. Just post your photo in steemit first and copy the URL of the image and insert it as your profile picture or cover photo.
Flagging is not like a dislike button on Youtube. You mustn't flag a post until it violets some cyber law like Plagiarism, copyright and other laws. As their is no central regulating body on steemit, it is in your hand to make steemit a good and crime free social media.
Thank you for reading and do follow @teamnepal.
If you want then we can bring a Nepali version of this post too !