How To Earn Free Cryptocurrency Through Steemit
How To Earn Free Cryptocurrency Through Steemit Blogging has been a dream for so many people. A lot of people have spent time making researches on cryptocurrencies, but sadly, they have not been able to key into the project because of the lack of funds to invest.
Usually, the simplest way to get into cryptocurrency is through the actual purchase of the coin. Some people make money through it by merely trading their desired currency. Trading in this context involves the buying and selling of coins. For example, a user can decide to invest in a coin that is currently at a dollar per one. If the market moves in the user’s favour and the coin makes it to five dollars per coin, then that means the user can decide to exit the trade with a four dollar profit. This profit can be achieved in a couple of minutes and can also take days, weeks, months, and sometimes years to achieve.
Free vs Capital
To be successful in trading, the user in question must have a little knowledge of the market in which the user plans to enter. It most times requires a lot of technical analysis and huge spare capital. While I said spare capital is the fact that some trades might go wrong and you will have to hodl the coin until you can make a decent profit or an acceptable loss. For example, some people bought bitcoin last year at twenty thousand dollars per coin. Bitcoin went ahead to dip as low as three thousand dollars per one Bitcoin. If it was not spare money, then you will be in so much pressure to sell at three thousand dollars and would end up losing a whopping seventeen thousand dollars.
Those with spare money would just hodl it while some even gambled with it at the low price.
I know some people do not have the technical know-how to analyze and make a profitable trade. Some people would love to learn, but they don’t have the needed capital to start their cryptocurrency journey. Worry not, because https://www.cryptounfold.com will do everything possible to publish a lot of series that would help you earn free cryptocurrencies.
This post will look at How To Earn Free Cryptocurrency Through Steemit blogging, curating, and commenting. It is a free platform that does not require you to pay any maintenance or membership fee. It is a blockchain social media platform that pays your for posting, commenting and curating contents.
What Is Steemit?
Steemit is a social media platform on the Steem blockchain that enables its users to publish posts, read other people’s post, comment on any post and also reward any post of their choice according to how the user feels about it.
Most popular social media never rewards its users for all the time and contents that they put up in their platform. A user can have as much as a million likes on their post but still go home with no money at all. A comedian can drop a funny comedy that gets trending, everyone will laugh and relish the moment, but the comedian might still sleep hungry.
In steemit, a whale’s vote can give up to a hundred dollars or more depending on the current Steem price. Imagine just getting 20 of such people to like your post at a hundred percent. You would be smiling home with about two thousand dollars. Another interesting factor is that at high prices, 1 of those coins can be worth more than a dollar. That means more money for you.
How to get started?
Getting started is not difficult at all.
All you have to do is to follow the few steps below to get started:
- Head over to the official website of Steemit at www.steemit.com.
- Once you are at the homepage, locate and click the sign-up button.
- Follow the sign-up process and confirm your email.
- Wait for your confirmation and account opening.
You must remember that there is an important rule on Steemit that you must obey and that is the fact that you can’t recover your password once lost. That is why you must keep your password in a secure place that you can remember. In short, NEVER LOSE YOUR PASSWORD.
How does it work?
I know a lot of you are eager to know how this works. Just take a chill drink, fasten your seat-belt and come take this ride with me.
The working scheme of the platform is simple; what happens is that every user is assigned a blog on the platform. So when a user creates content, the contents appear on the timeline of the people following that user. If the user added specific tags, then the content will appear on the tags page, and anyone going through that tag will see the content. Generally, contents can also be sorted into the Trending page depending on the amount and engagement. Promoted content can also appear in the ‘promotion’ page while the ‘New’ page also updates as new contents show up.
Other users then get to see the content and decide whether to engage it or not. If the user decides to engage the content, then he can either resteem (share), comment, upvote (like) or downvote it.
Your earning is affected by the number of upvotes that you get. You earn more if another user with a huge Steem power upvotes your post with a high percentage of the voting power. You will, however, lose money if you get downvotes or flags from such people.
In a nutshell, all you need to do is make a post or good comment, get noticed by people who like it and you earn.
All the post made on this platform is stored in the Steem Blockchain. Click here to read my post on the blockchain technology and how it is the future.
It is worthy of note to point out that it takes seven days for your post to payout into your wallet.
How To Earn Free Cryptocurrency Through Steemit
There are different ways to earn on this platform. I will quickly look at them below:
How To Earn Free Cryptocurrency Through Steemit Blogging
This is the main method of earning on the platform. Here you can make a post about anything that you wish. Using quality images also helps your post to be attractive and might help attract whales.
While posting, make sure you use the appropriate tags in other to be noticed by your target audience.
Authors have a seventy-five percent share in any amount that the post earns. Below is a picture of a post earning.
How To Earn Free Cryptocurrency Through Steemit Commenting
Some people are not good at making posts but can read and air their views on pressing matters. This is the perfect place for people of such abilities. Here you can go through the posts of other users and respond to them. Your comment might get lucky upvotes, and you can earn decently if you are consistent and offer valuable comments. It also helps people notice you better and you still Earn Free Cryptocurrency Through Steemit.
Below is a picture of a comment earning.
How To Earn Free Cryptocurrency Through Steemit Voting/curation
I know it might sound funny, but it’s true. You earn curation rewards each time you upvote another post. While the author of the post goes home with seventy-five percent of the post payout, the curators share the remaining twenty-five percent. This method is really profitable for people with high steem power.
Contributing to communities
Another fast and steady way of making money on this platform is by contributing to communities on the platform. Contributing to the community involves making posts and carrying out a task for certain communities who then reward you for your work. Some of these platforms include Utopian-io, Oracle-d, SteemHunt, and SteemStem.
Having a Steem account makes you eligible for some Steem airdrops that might turn fruitful.
For example, the byteball airdrop for Steemians saw thousands of dollars’ worth of byteball shared to Steemians. Just keep your account active and strive to get a reasonable amount of reputation.
Keep tabs on our airdrop category so you won’t miss any airdrop such as this ongoing one.
Some basic Currencies
This is the main cryptocurrency of the Steemit network. It can be converted to Bitcoin and other cryptocurrencies with the help of escrows or blocktrades. It can also be powered up to become steem power.
Steem Backed Dollars (SBD)
This is the liquid currency of the platform, and it is pegged to a dollar. However, SBD once left the one dollar peg and rose more than ten dollars per one. Steem can be converted to Steem Backed Dollars.
This is simply the powered-up version of Steem. The amount of Steem Power, a user, gets determines His influence on the platform.
Steem Power can be converted to Steem in a process called Power down. It usually takes thirteen weeks to complete the Power-down process.
There is no limit to what you can earn monthly from this platform. All it needs is your dedication and consistency. It is a nice place to start your crypto journey.
Always remember that your voice is worth something.
Feel free to tell us your experience with steemit in the comment section.