This is a research paper that I did on steemit a few years ago.

I am doing a research paper on steemit.

.1 what is steemit

Steemit is like youtube just new and has a difference. Steemit pays you for videos just like YouTube does but steemit pays you in cryptocurrency there are three types of crypto currency that steemit has they are steem, steem power, and steem dollars.

.2 what you can do with steem

You can buy and sell steem, steem is kind of like bitcoin in the way that the value will be high then the next day low. You want to buy it when it is low and sell it when it is high.

.3 what you can do with steem power

With steem power you buy it then you can’t sell it for 2 years after you buy it, but you can get more cryptocurrency for keeping the steem power for more time. 90% of the cryptocurrency made by steemit each day is split between people that hold their steem power. The 10% that doesn’t go to the people that hold steem power goes to the creators. ½ the cryptocurrency that you get every day for holding streem power is paid to you in steem power. The more steem power you have the more you get paid when you upvote people's work. Steem power makes it so that the price doesn’t change as rapidly because you can’t sell it for two years which means that you can’t just sell it when the price goes down because you don’t want it to go down any more when you have steem power.

.4 what are steem dollars

Steem dollars never lose their price their price stays the same. When you create something popular on steemit ½ of the money that you get will be in steem dollars. You don’t get as much money for holding steem dollars compared to steem power. You get 10% if you hold steem dollars. You can sell steem dollars at any time.

When you earn steem dollars for creating something on steemit you can choose one of these options.

You can trade in the steem dollars for steem and sell it.

You can hold the steem dollars and get money for holding them.

You can also trade in your steem dollars for steem power and then hold that.

How to cash out the steem dollars that you earn

When you earn steem you can cash it out for money and get a few hundred dollars if you really badly need it I recommend you turn your steem dollars into steem then turn steem into bitcoin and cash out the bitcoin. You need a bitcoin wallet to hold bitcoin and then cash it out.

It is free to make an account on steemit and you can actually make money for making articles or videos. the price has been doubling in 24 hours!

You use your reddit account to make sure you get verified. Make sure nobody hacks your account because they could steal all of your cryptocurrency.

On the upper right hand side on the screen is the posting button it is the button that you press to make articles or videos. You need to break the articles up to blocks of text and make sure they are easy to read. It takes 1 – 3 weeks to get approved to have an account for free, or you could pay and get your account instantly.

This is the research paper that I did on steemit it wasn't the best research paper, but it was one of my first research papers. hope you liked it.

                Don't forget to like and comment, and remember that I am taking suggestions on what to post. 😁

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23.01.2020 06:18