What happens if I don't redeem my rewards?
Hello guys, this is actually my first reward on Steemit.com, it's been amazing time so far and the experience, awesome.
Just a Lil question for a newbie reward, what will happen if I don't redeem my rewards?
That's a good question - I've always just clicked the button.
I didn't really get why the button needed to be there - and the rewards weren't just paid out automatically; I look forward to finding out the answer to your question.
Congratulations on your first payout / rewards for blogging on Steemit.com ^_^
Thank you sir, I'm sorry searching for answers, once I do, I'll share with you, meanwhile I want to add you to my steemvoter.
@samstickkz Sir did you already know the answer? I can't understand it, I'm a newbie and I click the redeem, What will happen then? Advance than you for answering :)
OK if you click redeem, it moves to your wallet. I actually didn't bother checking what happens if you don't redeem. But maybe I'll check again
Ow okay okay. Thanks :)
Congratulations mate. I too received my first reward and don't know what to do with it. Move it to wallet or keep it as is.
Under savings I see below comment
Do I have to withdraw it from the wallet too in 3 days ?
No, wallet is available anytime, Savings is 3 days.
You can convert your sbd to bitcoin and change it to fiat
Thanks @samstickkz
One last question, How frequent do they pay out the rewards. I got couple of rewards on the 7 day from the join date. But did not get any on the 8th day. Should I expect rewards everyday or just every 7 days. If every 7 days, how is the payout window decided.
Sorry may sound silly but visited too many posts and I got no concrete answer.
I understand @blog-beginner i had lots of questions when i first started.
payout is on the 7th day.
Ok great. I can stop visiting the wallet page again and again in anticipation of rewards. lol
Haha just chat me up on steemit.chat if you have any questions.
https://steemit.com/steemit/@blog-beginner/understanding-steemit-rewards-and-payouts
Please check my post. I have a lot of questions. Would love to have those answered.
Chat is currently down. Unable to open it.
that seems to happen alot these days.
You get paid (rewarded) Steem Backed Dollars (SBD or SD money) and/or Steem Power (SP) and/or STEEM (or maybe not STEEM, normally) when your upvoted posts and comments are 7 days old. This means you can be paid each day or each hour when your posts and comments are about seven days old, assuming your posts and comments earned enough upvotes assuming other factors as well.
What happens when rewards are not redeemed? Not sure exactly, yet. I am still trying to figure that out.
Guys, any updates on this? I don't see the logic of not redeeming the reward...which gives you even more power to vote....