How to cash out money on Steemit has been circulating on the internet lately. So, what is Steemit? How does it work and is the platform able to provide extra money?
The virtual world was excited by the presence of Steemit a few years ago. Steemit is actually a new social media platform whose system is based on blockchain. So, in this platform all forms of exchange and transactions use digital or crypto currency.
According to information circulating, Steemit can be the right platform for people who want to earn extra income even from home. The work is also easy, just post the best content according to passion. All posts will be paid by Steemit in the form of Steem currency. Here’s more information about this platform.
Introducing Steemit
The rapid development of the digital world makes people have to adapt. Steemit is a social media network or blog that utilizes blockchain. In this platform, the currency used is cryptocurrency.
The originators of this platform are Daniel Larimer and Ned Scott. They initiated the birth of a new social media world whose center is in the United States. Steemit has been present and popular in the community since July 4, 2016. The attractive offer is virtual prize money for people who fill their site with various activities.
Like other social media, users also need to register as members. Then, users can also directly upload a number of photos, writings, and videos. This platform also allows users to rate likes and dislikes and comment on people’s posts.
Steemit will give money to everyone who does activities on the platform. Just commenting, uploading photos, giving likes, and becoming a curator’s choice will get money in the form of Steem. This is what makes Steem users in the world soar, including Indonesia.
How to Cash Out on Steemit
Steemit is not a fake platform that often deceives its members. There are many reviews and testimonials from people who get paid.
Most people will feel confused about how to cash out their money. In fact, the steps are very easy, including:
- First, open an account and click Wallet on the blog section.
- Then, select Reward Redeem. The system will redirect members to Steem Power.
- Open a new tab and login to the Bitcoin account.
- Then, select DOGE and MARKET, then you can immediately deposit by clicking Withdraw DOGE.
- On the Receive DOGE COIN page, click on the red color to fill in the wallet address.
- Copy about 30 unique characters in the DOGE COIN address and open a new tab, which is the blocktrades.us website.
- At the bottom, fill in the box by pasting the 30 unique characters. Then, click Get Deposit Address.
- Still on the blocktrades.us website, see Memo on the Manual transfer page. Copy the numbers on the memo by clicking the small box.
- Open Steemit again and in the Steem Dollars section, click on the Transfer text.
- A new page will appear that says Transfer to Account. Enter the unique characters of the memo and click Submit.
- Will appear Returning Users to return to the account. Fill in the username and password, then click Sign In.
- On the Bitcoin page, there will be a Transactions section with the number 1 notification.
- Then, the notification will say Deposit (value) has entered. This indicates that the process is running optimally and just click Finish.
- Open the bitcoin dashboard, then the bitcoin balance will appear. Sell bitcoin by clicking Continue.
- After the bitcoin is successfully sold, select Finish and the balance will return to Rupiah.
- Directly select Withdraw Rupiah and click the orange box when the rules appear.
- Then, send the pin via SMS and enter the pin in the SMS. Click Send and pay attention to the account data.
- If it is correct, click OK and wait a while for the balance to enter the account.
- Check the cash withdrawal history column, if the word Success appears, it means that the account balance has increased and the disbursement process is successful.
The term Steemit Currency
After knowing how to cash out money on Steemit, it helps to know what types of digital currencies this platform offers. In general, there are three Steemit currencies, namely:
1. Steem Coins
First, there is the term Steem Coin. This is Steemit’s official crypto asset that forms the basis of the other assets, namely Steem Dollars and Steem Power. The use of Steem coins is usually to buy or sell various services on the platform.
In addition, it can be a means of payment for service transactions outside the platform. Users can earn Steem Coins in exchange for quality content or other activities that have a positive impact on the platform.
Users also consider Steem Coin as a potential investment asset as it continues to grow in the crypto market. Since its release in 2016, the Steem Coin has continued to experience price growth. January was the peak price, which reached $8.58 or if converted into Rp130 thousand.
2. Steem Dollars
How to cash out money on Steemit can also be for Steem Dollars. This coin exists on the Steemit blockchain and has a value of 1: 1 with the US dollar. Its value is relatively more stable, so most creator payments are processed through Steem Dollars.
This aims to protect curators from fluctuations in crypto value. Uniquely, Steem Dollars can also be traded on a number of crypto platforms.
3. Steem Power
As the name implies, this coin symbolizes how much influence the Steem platform has. This type of coin gives 1:1 for user votes. Some people consider Steem Power as an investment for the long term because it cannot be sold before the holder has owned it for 13 weeks.
In addition, 50% of Steemit contributor payments are paid through Steem Power. On this platform, users can increase their power if they have a lot of SP coins. However, if the SP coins are cashed out, the power of the account will decrease.
Advantages of Using Steemit
Steemit has managed to attract the interest of many people even though it is functionally similar to social media in general. Of course, this doesn’t just happen, because there are reasons behind Steemit’s advantages. Here are some of the advantages of using this platform.
- Users can get rewarded if they actively contribute and produce quality content.
- Can be a means of additional income from anywhere.
- There are many active communities that facilitate social networking.
- Classified as safe and transparent in nature.
- Possibility to be financially free in the future, as payments are made via digital currency.
As a new breakthrough for a more modern virtual world, Steemit must maintain its quality. This is so that its members do not get bored or even turn away from it.
In addition, maintaining the reward system and consistency also plays an important role in increasing Steemit users. Compared to other platforms that offer money for free, Steemit is the easiest.
Its appearance is simple, yet elegant, making it easier for users. In terms of security, Steemit is also proven to pay and keep all user data confidential.
How to cash out money on Steemit does not take long. Since it is a cryptocurrency, it is important to pay attention to market movements. Then, later this digital currency can be exchanged into real currency in the form of dollars. The process will take time, but take it easy because the money will definitely go into each account.
