What is steemit

In Could, Wale Ifemi was residing on one greenback a day in West Africa. A month later, he joined Steemit, a brand new social-media platform that rewards customers with its own cryptocurrency. The extra "upvotes" - likes, primarily - a submit will get, the extra it earns. By August, he had made the equal of $41,000 - plus another $18,000 after posting his story about this transformation.

It would be understandable if your first response to listening to about Steemit would be to think it is a scam, or too good to be true. I felt the identical way. Then I posted simply 4 sentences, along with a replica of an indignant letter that Phil Collins once sent me a few concert assessment I had written. It acquired 463 upvotes, and made $10,452 in the web site's cryptocurrency, referred to as Steem, which can be converted into bitcoin.