Passive income with STEEM
If you have landed on this page, then I would assume that you are looking for a cryptocurrency that can bring you stable passive income. There are thousands of cryptocurrencies. Most of them were created in order to make a lot of money on the initial hype, and then slowly die. Trading on the crypto exchange is also a very unreliable earning tool. So can the world of cryptocurrencies offer a reliable and stable source of passive income?
I think so, and so that my words do not seem like unfounded advertising, let's consider a specific example.
We will talk about the Steem blockchain and its STEEM token. It is STEEM that can offer you stable passive income. Actually, there are many ways to earn money with STEEM, but in this post we will only talk about passive income. How do I get it and how much can I earn? I will tell you everything in detail.
The largest and most famous platform built on the basis of the Steem blockchain is Steemit. Bloggers can publicize their posts here. Readers vote on posts they like. The system is built in such a way that posts receive rewards for voting. Half of the reward goes to the author, and half to the readers (curators). The more STEEM a reader (curator) has in his account, the more rewards the post earns, and therefore, the more the authors, readers (curators) earn.
This mechanism is the source of our passive income. What do you need to do?
1.In order for your STEEM to start earning you, you need to have it first. STEEM is not a new cryptocurrency, it was launched back in 2016. Since then, it has experienced ups and downs, as well as very significant stress tests. Despite everything, STEEM continues to reward its supporters with a steady income. As a sign of reliability, STEEM is listed on many crypto exchanges, including Binance, Gate.io, Upbit, HTX and Poloniex. So, the first step to financial stability is to invest your money in buying STEEM.
2.Next, you need to create a Steemit account. A wallet will be created with your account. You need to move your purchased STEEM from the cryptocurrency exchange to your own wallet.
3.In order for your STEEM to "work", you need to convert it to STEEM POWER. This is done in your wallet through a procedure called POWER UP. Don't worry, your money is safe. You can always convert STEEM POWER back to STEEM, but it will take 1 month (four equal transfers every week).
4.As you can see in your own wallet, your STEEM POWER is already working, earning an APR of approximately 2.71%. But that's not all.
5.Now you can use the mechanism of curation, that is, voting for posts, for your own earnings. However, since we're talking about passive income, you don't want to vote for some posts every day. And you don't have to. You can use the botsteem.com tool and add your account to the curation trail. Now it will vote 24/7 along with hundreds of other accounts and your money is absolutely safe.
How much will I earn?
Again, let's look at specific example.
In the screenshot, an account with 57,645SP earned 154.83SP (ie 154.83 STEEM) in a week, which is 14% annualized. Add to that the 2.71 APR we mentioned above. You will get all this without any risk, without spending time and money, fully automated.
It is worth noting that over time, thanks to the rewards received, the amount of STEEM POWER in your account will grow, you will vote with more power and you will receive even more rewards. You can also increase your ROI even more by using other ways to earn money that the Steem blockchain offers, such as writing some interesting posts. But this is a topic for your further independent study.
Join us, our path leads to success!
Good promotion article @o1eh.
A small typo...
Maybe a comma (,) after the 7 ?
Oh, thank you, there should definitely be a comma there. 🙂
Hi @oleh,
Your post was truly outstanding. I read every point, and the way you explained the entire ecosystem was remarkable.
A few months ago, I organized a similar event at my coaching institute, where I provided my friends with comprehensive information about passive income. I had planned to mention that event on this platform, but unfortunately, I still haven't received the photos from that day. Without the photos, I couldn't illustrate the event properly in my post, so I haven't written it yet. However, reading your post made me very happy to see that you are working so diligently for this platform and I will definitely share such posts with my friends so they can also understand this ecosystem.
It's great that you are telling people about this platform. I believe that Steemit and the Steem blockchain as a whole have great potential. Perhaps all this is a bit difficult for beginners to understand, so we should convey and clarify the information. I hope you will receive photos and tell us about the event. 🙂
Thank you for your kind words! @o1eh. I totaly agree that Steemit and the Steem blockchain hold great potential. It can indeed be a bit complex for beginners, so it's important that we convey and clarify the information effectively by using video sessions , presentation or many more. Once I get my photos then definitely share on this platform.
#goodwork
Thank you. Unfortunately, there were some complications. It used to be very easy to work with Google, but now this company constantly wants some kind of verification. I have already passed the verification of my identity and my activity. But that's not enough for them, and now I need to go through the verification of the company. I have started this procedure, the possible options for activities include:
If I choose the first option, I am required to provide documents that I am an employee of the organization. The next two points require documents that I am an employee of an advertising agency. The last point provides for the provision of information, including the address, of one's own unregistered company.
I'm trying to qualify my activity as the last point, but I need to include the site address (steemit.com) and then the physical address of the company. I cannot provide the address of STEEMIT INC because it is registered and I am not its employee. There is an option to specify some fictitious address, but I think it will also fail.
Thus, I think in a few days I will have to stop working with Google Ads, because without verification the ads will not be shown. Perhaps I will be able to find some other way of effective promotion.
That is a shame.
Would you meet the same problems with Facebook advertising?
I ordered advertising on Instagram, which is basically the same as Facebook, because both networks belong to the same company. There was no need to go through so many verifications. But wanted to promote Steem as a good investment asset. Once I tried to do this on Instagram and my account was blocked. Everything related to investments and cryptocurrencies is prohibited on Instagram. After much negotiation my account was unblocked and from then on I promoted Steem exclusively as a blogging platform.
I think there is no other choice and I will have to return to ordering advertising on Instagram. I will try to carefully avoid the topic of investments, instead I will play with the words income or something like that. The main thing is that people get to the target page, and there they will already be provided with the necessary information.
Hello @o1eh
I understand your concerns. I've been in the Instagram and Facebook advertising business for a long time, primarily selling products on these two platforms. Advertising on Meta platforms can indeed be challenging, especially when cryptocurrency is involved. One potential strategy is to present your advertisements in a way that highlights Steemit without explicitly mentioning cryptocurrency. Instead, use appealing terms like "blogging," "online work," "earn," and "incentives." These words can attract users to contact you for more information.
Additionally, observe the demographics of people around you who use Steemit and identify the age groups prevalent on the platform in Ukraine. This will give you a rough idea of the target audience interested in such blogging websites. Focusing your advertisements on this age group can help attract more users.
You're doing excellent work. Keep excelling at what you do best. Your efforts have inspired me to start something similar in my region. However, I will need to proceed cautiously due to the prevalence of scammers here. 😀
I have been promoting Steem as a blogging and earning platform for a while. It is quite easy, it is worth saying that here you can earn thanks to writing articles and you will get hundreds of new users who are looking for easy money.
I wanted to promote Steem as a good investment and development platform. Anyway, I'll try to come up with something.
I don't advertise Steem only in Ukraine. I target ads to English-speaking users who are searching online for anything related to investing, finance, or cryptocurrency. But definitely if I return to Meta, I will have to shift the topic to blogging and earning.
This is a great idea! Don't let the presence of scammers scare you, they are everywhere, no matter what you do.
We made some promising progress with the code base that runs SteemDB. We improved the code bases and sent Pull Requests to the master repository. You can see the Pull Requests here:
I have also made a post about it on Steemit: Bot Steem Development Achievements.
I apologize if dropping comments like this is not acceptable to your post, @o1eh.
Great job done ;)