How do steem rewards work?
Hello everyone,
When I started using the Steemit platform I noticed that there where many things which I did not understood. One of the things that I actually had to look up was the reward system. I hope to make it a lot easier for you guys by uploading this post.
There are 3 different ways of receiving your payout:
- Decline Payout, which means that you receive nothing (not recommended)
- 50%/50%, which means that half of your payment will be in Steem Power and the other half will be in Steem
Dollar (this method is most used and set by default) - Power up 100%, which means that you receive everything in Steem Power
(Note: you can power down Steem Power into steem, as long as it is not being delegated.)
(Note: delegating Steem Power means that you give someone else permission to use your Steem Power, this part of your Steem Power is not able to be powered down.)
(Note: Payouts occur 7 days after you post your comment. You can check the time left by moving your mouse on top of the payout counter.)
Does voting cost you money?
The amount you received will be payed out in Steem Dollar (SBD) and you are being up-voted by others, which does not cost them anything. The amount you receive for a vote is based on the amount of Steem Power they have. That is why delegation of your Steem Power can come in handy when you want one account to have a lot of vote power, so it is a win-win situation.
(Note: Do not worry, the amount you receive as a payout can change because of the fluctuation of the Steem value.)
Do you receive 100% of the up-voted amount?
Technically you can receive the full 100%, but this is only in one specific situation. In most cases you, as an author, earn 75% of your upvote. The other 25% goes to the curator, that’s why you have curator rewards and author rewards.
Like I Just mentioned there are some cases in which you as an author receive 100% of the reward. The distribution of the 25% up-vote, which normally goes to curators, is based on the moment of placing the vote.
- If you, as a curator, vote at the moment of the post being posted you will receive nothing and the author will receive the full 100%.
- If you, as a curator, vote after 30 mins of the post you will receive the full 25% and the author will receive the other 75%.
- If you, as a curator, vote between 30 and 0 minutes after the post you will receive between 0 and 25% based on how many minutes you voted on.
(Note: as a curator there are more factors which indicate how much you will get, some of which are: Steem Power, voting power, voting weight and the popularity of the post)
Steem Dollars
You can use them to buy stuff of the Steem Marketplace, cash them out, buy Steem with them or last but definitely not least HODL!
Thank you for reading, and if you have anything to add please do so in the comment section. (ooh and don't forget to upvote )
Cryptoblogger
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Steemit is growing too fast !
48.5mns visits in January (+41% vs December)!
Thanks to all of you and the content you share.
If you want to learn more about Steemit Big Datas please look into:
Steemit Statistics & Big Data: 🚀 End of January 2018 Update 🚀
Take care my dear Steemians
This post is guiding some useful tips for new steemians and helpful @jean-paulc Thanx.
Hello Shoutkath,
Thank you so much for your kind words. That deserve's a up-vote!
Cryptoblogger
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So basically, if you have a lot of Steem Power, and a lot of Voting Power then you are able to upvote many "older" posts and simply earn money from it? :D
I have seen some huge votes, like 10 dollars and more, that means that they get 10 steem bucks for each 4 clicks ....
Hello Sleepdeeper,
First of thank you for showing interest in my post! Secondly: yes, that is why there are many bots who acquire a lot of voting power, and then sell of their votes. The voting power can be acquired by people who are delegating their Steem Power for example. I do think that there is some cap preventing the earning if post are really old, not sure about that though.
Cryptoblogger
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Upcoming subjects: "Tax Law and Cryptocurrency", "ArcBlock ICO", "WePower ICO", "MedicalChain ICO", "the Survival of Bitconnect?" and many more!
WHY DON'T I GET ANY VOTES OR REPLIES?
IN my opinion I believe I put out great, creative content, I spend a lot of time working on them yet NO ONE votes and it's really discouraging because I'm basically wasting my time, right?
Anyone can look at my blog and see I'm not just copy and pasting some articles, I'm really trying my hardest here but it's appreciated. Being unappreciated was the whole reason I joined Steemit but it's no different from the real world
Hello Wolf6pack,
First of thank you so much for showing interest in my post! Secondly: It is really hard to gain followers, because when you are new most people do not see your posts. A few things that you could do is put attractive titels, use some voting bots (there are some really cheap one, I am planning to make a post on them soon), promote your post, and last but not least be patient and keep up the good work.
I will check out your Steemit.
Cryptoblogger
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Upcoming subjects: "Tax Law and Cryptocurrency", "ArcBlock ICO", "WePower ICO", "MedicalChain ICO", "the Survival of Bitconnect?" and many more!
Hello Jean-Paulc,
great article for newcomers like myself. Can't wait for the next on voting bots.
jean-paulc , you came out of nowhere and you are killing it in Steem with stunning content. This truly shows that when one is dedicated success does not take long to follow.
jean-paulc is a straight shooter and I am glad to see that he continues to give solid advice.
Hello Klark,
FIrst of thank you so much for showing interest in my post! I am currently working on some ICO posts and some interesting info about the taxation of cryptocurrency (now and in the future).
Cryptoblogger
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Thank u this post helped me to better understand the way it works.
Hello Crypto-claude,
Thank you so much for showing interest in my post! Got any new idea's for steemit guides?
Cryptoblogger
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This is the type of post that always gets a upvote from me. Being here only 8 days, and trying to learn how to make the most of this fun opportunity. Between buying Steem and earning Steem I hope one day to move from the minnow to dolphin class. Your post is easy to read and understand. I am a old guy so the easier the better. I truly believe in people helping people and this platform is the best social media I have ever used. Thanks for a great post. Hopefully one day we will all become whales one way or the other. I believe in the Steem crypto as well so buying it is another great option.
Hello Democratsonly,
First of thank you for your kind words. Secondly: Buying STEEM (especially as low as it is now), is to my opinion, a smart investment. Time shows that its price is almost as stable as that of bitcoin, but with a greater growth potential!
Cryptoblogger
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Thanks! It is useful to me!
Hello Bluewinter,
Thank you for showing interest in my blog! Any idea's for a new topic?
Cryptoblogger
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Pretty! This was a really wonderful post. Thank you for providing these details.
Hello Tech1,
Thank you for your kind words!
Cryptoblogger
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thanks for this summary!
Hello Doevoes,
Thank you for your interest in my blog!
Cryptoblogger
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Upcoming subjects: "Tax Law and Cryptocurrency", "ArcBlock ICO", "WePower ICO", "different Steemit guides", "the Survival of Bitconnect?" and many more!