Thanks for your patience in waiting for me to pick up the series again. I have decided to start the new year off with my favorite way to Make Money Like a Millennial: Steemit.
This may end up being split up over a couple of posts since it is such a big topic.
What it is:
In short, Steemit is a platform which pays you to create blog posts and other materials.
It’s actually much more than that. Steemit is a social network platform designed to reward posters with a cryptocurrency known as “Steem” and “Steem Backed Dollars” (SBD).
I’ve heard it compared to Reddit or Facebook, but it really is its own unique format. It is similar to Reddit in that comment sections can get quite long and in that posts are almost infinite in subject matter. There are upvotes and downvotes also.
It’s similar to Facebook in that there are… actually no. I’m not sure why it is ever compared to Facebook. It’s pretty much Reddit, but with actual rewards for your upvotes.
How to get started:
Very simple, go here and choose a user name, give them an email address and a phone number, enter the verification code, wait for a confirmation email, sign in and you are on your way!
The best way to start your Steemit career is to post an introduction post about yourself. Basically just tell us your niche in the Steemit world. Do you write about cryptocurrencies? Do you blog about politics, love, marriage? Are you a photographer? Painter? Tell us about yourself!
Steemit is definitely a learning curve. The platform itself is relatively easy to use, but the finer details for success take time to learn. You won’t get rich quick by any means with this.
Overall I have enjoyed the experience. I like blogging anyway, so Steemit just adds to my experience.
How much money are we talking here?
I didn’t know a lick about crypto currency when I started and I didn’t bother to look into it for almost a year. Knowing how to trade your Steem and SBD for other currencies is key to success with Steemit.
At first you won’t make much at all. Your upvote will only be worth about $0.01 SBD and you won’t be out there in front of a lot of people. As you gain followers, get more upvotes, and upvote stuff yourself you will gradually watch your wallet grow.
My Steem wallet is currently worth about $3,000 US. Most of this is locked up in Steem Power, which is not easily converted. In the past four months or so, I have moved about $500 off of Steemit into other currencies. So, at my pace (admittedly slow, I was off Steemit for about 3 months) you can make about $3,500 a year.
I have seen some folks who have been on only a few months who already have twice as much. It depends largely on your content and how many whales you attract.
Also, just like any crypto you are able to invest your own money into Steemit. If you choose to do this your votes will be worth more and you will earn money quicker.
Where to start? I may make a second post to give you all the tips, there are loads of them.
But for now I’ll give you these:
Stick with it! Persistence is key for most things in life, and Steemit is no exception. Post every day, even if it’s just a photo of something cool you saw the day before.
Comment and upvote, carefully. Don’t just scroll through your feed and ignore everything. Don’t scroll through and upvote everything either. Vote for only the stuff you think is really good. In the beginning you won’t have a lot of voting power, so use it wisely. And please, comment! A great comment can get you a new follower or two. And since it counts as a post and can be upvoted, a great comment can make you money.
Don’t follow everyone! Like upvotes, you should only follow people you think will post good stuff. Otherwise you will end up with a feed cluttered with crap. No one likes crap. It’s good to have 500 followers, it’s not so good to be following 500. Which reminds me, I need to go purge the rolls a bit.
Steemit is a great platform to post blogs, photos, artwork, and just about anything else you can think of. With some persistence you can make a good amount of money. So definitely try it out.
And when you do, follow me. I don’t post crap! 🙂