Webcoop

Crypto Enthusiast and blogger

STEEMIT VOCABULARY – How to improve your earning in steemit.com5 min read

When you join steemit.com you might come across with some of the used words that are not familiar to you. I will try to mention as much as I can and try to define it as accurate as I can.

 

STEEM – Steem is the main currency in steemit.com. You need steem to “Power Up”. You can also transfer steem from steemit.com to an exchange and exchange it for other cryptocurrency or fiat.

SBD – SBD (STEEM DOLLARS) is another currency in steemit.com which you will get from you post pay out. It is meant to be pegged with USD but actually it is not. Sometimes SBD have a higher exchange rate than STEEM. You can also transfer SBD from steemit.com to an exchange and exchange it for other cryptocurrency or fiat.

POWER UP – It is the term used when you want to put steem into your “STEEM POWER”

POWER DOWN – Is the term used when you want to take out steem from your “STEEM POWER”. Note: it takes 13 weeks to fully power down the amount you want to take out. For example, you want to take out 13,000 steem from you steem power. You will get 1,000 steem on the start of the first week and this will go for 13 weeks where you get 1,000 steem for 13 weeks which will come to a total of 13,000 steem.

STEEM POWER – This is the steem that makes your account works. This steem power also gives your “upvotes” value.

UPVOTE – Upvote is the term used to “like” the post. If you don’t have much steem power the vote you cast is automatically worth 100%. You will get a slider to control how much percentage of your vote you want to give when you get more “STEEM POWER”.

FLAG – Flag or downvote is used to give a post or comment a “thumbs down”. Flag or downvote always carry a 100% downvote. Please refrain from using FLAG.

To learn more about steemit.com please visit their FAQ HERE.

DISCLAIMER

I don’t claim to be an expert about the article mentioned above. The article above is based on my own experiences and my own research. I don’t claim it to be 100% accurate.

I am not a financial advisor. The article above is just my own opinion. Please do your own research.

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