What is Steem, Steem Power & Steem Dollars
Hello Dear Friends,
In this article i am going to describe three things which you mainly see in your wallet and that is steem, steem power and steem dollars in simple way that every new steemian can understand how it works so let’s start with steem.
(1). Steem
Steem is basically a crypto currency like bitcoin on which steemit platform is running so every steemian actually gets their rewards in steem instead of anything else. Can we withdraw steem the answer is yes.
(2). Steem Power
Steem power is also a steem but it works in different way so keeping in simple your voting power depends on how much steem power you have its something which is used to determine that how much value your account have in steemit platform the more steem power you have the stronger your vote valued and more curation rewards you earn when you upvote someone's article. So steem power is back bone of your account rise your steem power upvote the content and get more and more curation rewards. Can we withdraw steem power the answer is yes if you want to withdraw steem power you need to just click on power down button but this takes upto to 3 months to withdraw all of your steem power, every week slowly you receive some of your steem in order to make the steemit platform works in stabilize manner.
(3). Steem Dollar
Steem dollars or SBD are also a form of steem but what makes it different is that they peg with US dollar so the amount you actually receive in steem dollar determines how much dollars you earn so keeping in simple if you receive 1.0 SBD in your account it means you earn 1 US dollar. Steem dollars are something on which we gets our authors rewards why bcoz unlike steem and steem power steem dollar’s value won't change much it mostly stays the same, steem and steem power are mostly fluctuates as the daily trading continues someday steem values more someday it values less. So in simple words steem dollars are like a gift from steemit platform to the authors in which their author's rewards won't lose their value much.
Upvote and Resteem plz I welcome your feedback and appreciate your support.