Guide to Steemit Payouts : Where is my money going? 😮😮
43 days back I made a great decision to join Steemit. I had no idea what Steemit is? But I have got an idea Steemit will pay you for your content, Posts, Upvote and Resteem. My introductory post made $0.47 🙂🙂.
When I found out steemit, I was super excited. At last, I made some dollar from a social network. but the problem arises during payouts period. I have earned 7 dollars and I was paid 3 SBD. I was a little bit confused 😕😕 where is my money going?
I have conducted a thorough research and read some article in the steemit and found out the money distribution at Steemit. This is not for experts. This is newbie friendly post. I will explain where is our money going. For doing this, I will choose one of my posts. I have chosen a post titled "Travel with me #1 - Visit to Kuwait Scientific Center" and I have made $10.60.
Payment Distribution Breakdown:
I was expecting $10.60 in my wallet. But this is not the case. Rewards are divided for authors and curators. 75% for Author and 25 % for Curators. In my case, I got $8.06 (75%) and curators got $2.54 (25%).
Author rewards also by defaults divided into two parts as
-Steem Power (50%)
-Steem Dollar (50%)
To better understand payment distribution, I am using a website https://steemstats.com . You will get a real picture of your payment distribution. My post payouts are as follows
As you can see, I got 4.03 SBD (half of 8.06) and 2.747 SP (Half of 8.06). Remeber, Steem power is not equal to SBD. During my payouts period, 1 Steem or Steem Power = 1.4690 USD. That means I have got 2.747 SP = 2.747 * 1.4690 USD or SBD = 4.03 SBD
Total = 4.03 SBD + 4.03 SBD = 8.06 SBD (75% author rewards)
For your calculation, You may remember this,
1 Steem = 1 Steem power (steem and steem power are the same thing. Steem is liquid while steem power represents how much influence you have on Steemit) - Thank you @sstefan for clarification.
1 SBD = 1 USD (approx)
To know the current conversion rate, You can use a website (http://www.steemdollar.com).
To know current steem price you may visit coinmarketcap
https://coinmarketcap.com/currencies/steem/
Or any of the crypto exchanges where steem is traded
hello, @steemero
very good post, all very well explained.
very nice explanation, thank you.
Welcome @claudiaz
Actually Steem and Steem Power are the same thing. They are both representent by token STEEM. The difference between them is that steem is liquid, whilw steem power represents influence on steemit( how much your vote represents)
Thank you @sstefan for your clarification. I will update the post.
img credz: pixabay.com
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But how did you get the money into your bank account?
I will keep all my money into Steemit.
Good post, very well explained, this is how information becomes clearer and more dynamic. I loved it
Thank you @crypto-success for your lovely comment
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