Steemit: How to earn money from a zero balance. All we need is your time
Steemit is a relatively new idea in the blockchain and works in a wildly different fashion from the rest of cryptocurrency. In the world of Steemit your articles are worth what your audience decide upon. They exchange their upvote — it’s kind of similar to ‘liking’ someone on Facebook, and by doing this you are giving them a portion of your allocated rewards from the reward pool. It sounds crazy, I know, and to someone new it can sound rather scammy, as I’ve been told several times.
Remember though, just because you don’t understand it doesn’t mean that it doesn’t work or that it’s not legitimate. I’ve earned thousands of real world dollars from Steemit by posting articles and curating other content. Steem is literally the best way to start crypto with a zero balance and come out with several dollars. It’s the fastest route into cryptocurrency without any initial investment, and from there you can slowly build your portfolio. Please don’t get me wrong though, establishing yourself as a regular earner with a nice audience does require lots of time and patience.
A brief history of how I came across Steem
I was hanging in a chat room and someone came on telling us that they had just came from Steemit, testing out their new platforms. I was one of the lucky ones, I was there at the beginning and in my first four posts I had two ned upvotes, which at the time sent my posts soaring in the $2,000 region. Crazy right? Yup, and it took me on holiday that year to Germany. Here’s a picture.
That’s Hamburg harbour, and yup, that was all funded by my expedition on Steemit. Like I said though, I was lucky. Steem was high, there were relatively few users and not much content to go around. Now there are thousands of users and tons of content, so it’s harder to grab the big leagues. But, it’s still exciting. Like I keep saying to people, we’re still in beta as of August 2017 and we have many fun times to go.
Yeah, that’s great and all but how do I earn money?? What do I do?
Think of Steem like a blogging platform. You create an account and start to create articles about.. anything. The world is your oyster. There are people on Steemit that talk mainstream news, Politics, technology, Health and Welness, Compassion, there are alt right activists, social justice warriors; the regular blend of people you’d normally find in any social media place.
It’s important to know, though, that if you want to reach a better audience with more upvotes and larger bank balances then you need to talk about things that may appeal to the community. Usually that can be anything, but as long as you aren’t talking about your walk to the shops. That could have been interesting to you but what value would that be to anyone else? The most important part of writing for an audience is thinking whether what you are writing will be of any use to them now or in the future. I can write all day about the annoying mole on my right thigh – but who is going to want to read that?
Money for nothing? That sounds scammy. What’s the catch?
No catch. How do you think Facebook earns its money? They don’t just give you a profile for free you know. Facebook sells you to advertisers and rakes in the money it makes from your content. Steemit is different. Steemit brings back power to the people. Like Facebook Steemit has investors, but unlike Facebook you can be your own investor, pumping money into growing your own account, or, growing it naturally as everyone upvotes you with their likes. No catch, only that you provide content.
How do I sign up?
Just go here and sign up, it’s honestly that simple. You’ll find that it’s quite addictive earning a penny here and there at the beginning. Or you can go back to Facebook and earn zilch – your call.
Why is it taking so long to register?
Back when I was a newbie registration was fairly simple and it took moments to register for a new account. Recently they want to know your details and in exchange for that you get an account worth $16, or at least that’s what it was worth when I last checked. You may have to wait a while until they confirm it’s you. It’s fine, it’s part of the process, and no they aren’t giving your details to the black market.
Great! I want to make my first withdrawal? What now?
Awesome. I’ve prepped this handy video for you that I sent out to steemit a couple of months ago – it may be of use to you
Wtf? An exchange! This is too hard for me.
Don’t panic. Think of it as a way to learn. I’m sure if you look in the learning section there will be lots of courses teaching you how to use a cryptocurrency exchange. It may be daunting at first but it gets easier, I promise.
I’m still not sure, what do I do?
Think of it this way. You have nothing to lose. I’d get it if I was asking you to front hundreds of dollars to get this started but you can sign up with no investment and start earning. There’s no scam, and no catch, promise. But, you know, if it’s still too risky for you then that’s fine. Perhaps try something else then? You can use our search filters to see what’s available.
Why are we still Beta?
I really can’t tell you. We’ve been in Beta for a long time, but, if I know one thing the next version will be brilliant! Just like the last one was, and the one before that. Hold onto your hats people because in the next few years Steemit will be a household name in my opinion.