Cryptocurrency

victormichael (40)in #steemit • 7 years ago

Investing In The Steemit Platform; How To Buy Steem With Bitcoin

At first I said to my self it was a lie that how will this STEEM thus STEEM that generate money..... I believed when I said the smiles it has put on the faces of many that have come in contact with it...

For the past days I have been on this newish social media platform Steemit. It is a lot like Reddit but it is cryptocurrency based and each post has a value which can be "upvoted". You then get those rewards from upvotes in the form of Steem Dollars. Basically you can get paid cryptocurrency for posting on the platform. The more votes your post gets the more you get paid. You earn "reputation" from making good engaging posts, comments and repostings. The higher your reputation, the more your votes are worth!

The Social Media Switcheroo

I have been mostly on Facebook & Instagram until I found Steemit recently. I liked the concept of Steemit and the potential so much that I decided to invest in some extra "Steem Power" (the amount of Steem Power you have helps determine how much your upvote is worth) using some of my recent Bitcoin profits.

You can see in this screenshot that since I have started my account I have earned $0.581 in Steem Dollars and about 0.488 Steem Power. This is all just from my blog posts as I have never put any money into the platform at this point.

Bitcoin to Steem

A senior steemian decided to go with the built in Blocktrades platform( HITBTC, Kraken, bitfinex.... Etc))for converting my Bitcoin to Steem and sending automatically to my Steemit account. The transaction was smooth and went very quickly. The Steem he purchased was in his account within 10 minutes and he converted the Steem to Steem Power! He meant to BUY Steem Power, as Blocktrades offers it as an option, but he was not paying great attention...

All in all the end result was accomplished and he now have some Steem Power! I am really not sure how much Steem Power it was in relation to some of the "whales", but it seems like a good for him and I am investing in the platform LONG TERM.

Steem Power can be earned or bought, I decided to go with a little of both! If you are on other social media and you like to create content like blogs, videos, memes, or just ramble (trust me there are a TON of them on Steemit 😉 ) I would say give Steemit a try and see how good it feels to be rewarded for your content.
I want to assure everyone that has been on this platform and those that intend to join.... That the platform is very clear and simple to use....
You can always cash out your money when ever you need it....

All thanks to @stach, @ejemai for the just commissioned steemit hub in uyo.... You can always locate the hub for more info and guidance......