Making Profit on steemit - Masterlist | Grow your STEEMPOWER

This post is dedicated to helping steemians of all account sizes. All of this has proven effective and I will cover some more stuff that is likely unknown to many. So bear with me even if you think you have seen it all.

This post will feature two sections. One is dedicated to utilising the possibilities on steemit, the second part focuses on how to accumulate outside of the ecosystem. Profits of second part can (and should) be turned into Steempower.

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BANK WITH STEEMIT

1) Producing great content
Most obvious thing you can do, still included for completeness. Also make some friends, they will likely upvote you no matter how bad of a shitpost you dished out. The friends part probably has a lot more weight unless you're an excellent writer.

2) Powering up your STEEM
STEEM is an inflationary currency. Inflation is 8.59% in 2019 and is reduced by 0.01% every 250,000 blocks. If you power up your STEEM you will grow the annual inflation percentage.
If you powered up 100 Steem on January first, you would end up with 108.59 at the years end.
You also gain votingpower, allowing you to selfvote and award others with STEEM.

3) Delegating your STEEMPOWER
There are a lot of bidbots out there that accept STEEMPOWER delegations. They will share parts of their revenue daily with you, depending on the size of your delegation. This is highly recommended and yields a lot of profit. If that is something you wish to do, consider delegating to @booster.

4) Buying Bidbot Votes
You can profit of bidbots the other way around just as much. You can send STEEM or SBD to bidbots for a juicy upvote. Usually you make a little profit, sometimes you make a loss. The real value gained here is that your posts gains more publicity, which could bring in more votes.
Always check Steem Bot Tracker before buying votes.

5) Gambling
It's not really a proven way to grow your STEEM, of course it has a lot of risk coming with it. But some gambling dApps come with a twist. For wagering there you get a percentage of their profits and losses. If you're smart you can wager a lot, whilst risking very little, which can make this a very worthwile endeavour.
Magic-Dice
moonSTEEM

6) Buying SBD below $1
Very few people know about the pegging mechanism of SBD. Probably because it can't be done on the steemit interface. On steempeak you are able to convert SBD to $1 worth of STEEM over the course of 3.5 days. So you can buy SBD cheap and get a full dollars value out of it. Check your wallet section at steempeakfor the conversion option. Easily doable and highly profitable, if people knew about this mechanism SBD would not drop to $0.5 and lower. But that's your chance to bank ;)

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BANK OUTSIDE OF STEEMIT

There are of course countless ways of making money to buy STEEM. I want to focus on putting your STEEM to use instead of talking about how to generally make money.

One of the easiest ways to make money with cryptocurrency is simply holding BTC, as it forks quite often. If you have BTC on the current chain, you will get the same amount of coins on the new chain. Of course most of these coins are absolute dogshit and should be treated as such. Sell them as soon as you can. If you did that with BCH you made a sweet 30%, risking nothing. Sweet return for just holding BTC.

This somewhat only works with BTC although. Other coins that fork or airdrop a token usually pump in anticipation of it. BTC had 43 forks so far. You've heard of maybe two of them. Nobody cares about BTC forks anymore and they do not move the price a cent. This makes it somewhat safe to hold BTC throughout the forks and then convert them back and to then dump the new coin.

There is a new "fork" coming out. The new token on the block is "HEX". And for the first time ever it's not an absolute abomination of a shitcoin. It actually has great potential and you get it for free for holding BTC after all.

Now, HEX is a bit controversial.
My stance on HEX is as follows; I like it a lot though and see it going places. And since I get it for free, heck, why not press 3 buttons to get free money?
If you don't like it, you should claim and instadump it. Not taking free money is not the way to grow your STEEM stack.

I do not want to explain HEX here or convince you of it's merits. I'm just saying they can be dumped for more STEEM, so go and get them :)
If you want to discuss HEX join my Telegram Channel here!

Here's my masterplan:

1. When the snapshot date is due, I convert all my fiat and altcoins to BTC. When the snapshot took place, I convert it all back. The short holding period minimises the risks involved with BTC being a volatile son of a bitch. After the snapshot, I convert everything back. I now have a lot of hex.

2. Power down all my steem power and undelegate. This gives me more liquid steem i can exchange for BTC on the snapshot day.

3. To not miss out on too much revenue I deposit my liquid STEEM on moonSTEEM to obtain a share of their profits and losses.
   Easy way to make a profit while holding liquid STEEM instead of STEEMPOWER

4. Stake my entire HEX in for a few days until a major exchange lists them. Dump them all as soon as price consolidates after a pump. Strong evidence suggests that there will be major exchange listings.

5. Putting all my profits from selling HEX back into STEEM. At that time I will pull out of moonSTEEM and power up all the STEEM I got. Delegating is the most profitable thing you can do at this point. It then all goes to @booster to grant me daily profits.

6. Supporting my local lambo dealership

That's it. If you have any suggestions or additions, please let me know!
If you want to learn more about HEX come join my Telegram Channel

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