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RE: Confused about how steem payout works

in #steemit7 years ago (edited)

If you didnt change any settings you will get 50% value as STEEM POWER and 50% as STEEM DOLLARS.
STEEM POWER gives you influence, if you look in your wallet the dropdown allows you to power down (once you made $100) and this then liquidates into STEEM over a 14 week period.
STEEM DOLLARS is like savings, you can sell these on the internal market (Market option on the dropdown) for STEEM or use the Sell int he dropdown to sell the STEEM DOLLARS for other popular cryptos like Bitcoin.

To liquidate Bitcoin into fiat (your local currency) can be done at numerous local exhanges, do a search for bitcoin exchange in your area, you will need to register an account and should then be able to transfer back to your bank acccount.

The big question is then what is my STEEM/STEEM DOLLARS worth, and should I sell or hold. My article here can help you with the first part. Whether you should keep your money in steemit or convert back to your own fiat currency, depends on what you believe, do you believe the value of steemit as a platform will increase, if so the value of your STEEM/STEEM DOLLARS will probably increase and it might be better to not turn back to local currency. But STEEM doesnt pay the rent so perhaps you need it.

I personally keep my STEEM POWER and use my STEEM DOLLARs to invest in other cryptos, except for right now because the value of STEEM DOLLARs is rising rapidly.

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Thanks ill check your article out

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