Steemit is growing rapidly, with users constantly joining to take advantage of the multiple ways to earn money. But before you get caught up in the hype, let us help you understand what this platform is, why it's important and how it works.

Steemit is a blockchain-based social media platform that uses a cryptocurrency called Steem, which can be exchanged for US dollars, Bitcoin, and other cryptocurrencies.

It's also a platform that rewards users for creating and curating good content. The content on Steemit can be anything from blog posts to videos, and the platform has been used by blockchain enthusiasts, musicians, and even artists.

Users can earn money by posting original content, commenting on other people’s posts, upvoting posts from their favorite creators, or curating content from the network.

The Steemit platform was created in 2016 by Ned Scott and Dan Larimer, a software engineer who developed BitShares. It has since grown to become one of the most popular blockchain-based social media platforms in existence.

At the time of writing, Steemit has over 300 dApps that run on the Steem blockchain. The three most popular apps include:

Steemit is a social media platform built on the Steem blockchain. While not explicitly part of the DeFi movement and ecosystem, Steemit’s focus on community-posted rewards, and automated curation make it one of the most promising social media apps in crypto.

For those who want to get into blockchain development, Utopian is an open-source project that lets users earn their way up the ladder by contributing code. However, it doesn’t provide a space where users post their own content, but rather focuses on rewarding contributions to the project in many ways. This may include bug fixes, general development, new features, etc.

Dtube is a decentralized video hosting platform that uses the STEEM blockchain as its base. As with all blockchain projects, there are several benefits when using Dtube compared to traditional sites like Youtube. Most notably, creators can get fairly rewarded and there are no ads or censorship.

Steemit is a social media platform that combines the best parts of Reddit and Medium. However, unlike Reddit, Steemit pays its users in crypto for their posts rather than using ads or other monetization methods.

Steemit is built on the Steem blockchain—a decentralized, peer-to-peer network where users earn cryptocurrency for their posts. The platform uses a Proof-of-Brain algorithm to reward users for their contributions.

The Steemit community is made up of three main groups: content creators (users who post original written or visual material), curators (users who upvote posts), and witnesses (users who secure the network).

Content creators get paid in STEEM tokens, which can be exchanged for Bitcoin or other cryptocurrencies on external exchanges.

Curators also receive some STEEM tokens for their efforts, but they do not have voting rights on the platform.

Witnesses are responsible for ensuring that all transactions are valid and secure; they are also paid in STEEM tokens.

Steemit users are rewarded with Steem cryptocurrency for posting content that other users upvote such as articles, photos, videos, and more. They can also gain more Steem by becoming an active member of the community (by voting on other people's posts and leaving thoughtful comments), which increases their influence score.

When you post something on Steemit, you earn "Steem Power" which increases your influence on the site and allows you to earn more money from your posts. You can also earn "Steem Dollars" which can be traded for US dollars or other cryptocurrencies.

The more influence you have, the higher your earnings can be. However, there are no ads or paid subscriptions; instead, all content is entirely user-generated.

The STEEM cryptocurrency system is designed to reward users who share quality content on the Steemit platform. The more upvotes a post gets, the more STEEM tokens (or Steem cryptocurrency) the poster receives.

You can also earn STEEM by “powering up” your account — converting your STEEM into vested tokens that you can use to vote up other posts or make posts of your own.

Follow these four easy steps.

Create an account on a crypto exchange: If you already have one, skip this step. If not, choose an exchange that supports STEEM or buy Bitcoin or Ethereum first and then trade it for STEEM on another exchange that supports the coin.

Fund your account: The next step is to deposit funds to buy STEEM coins. You’ll need to follow the instructions on your chosen platform to do this, but it should be fairly straightforward.

Set up a digital wallet: To avoid losing your hard-earned STEEM tokens, transfer them over into a digital wallet such as Exodus to keep them secure.

Start Trading: Exodus digital wallet not only provides secure storage options for your crypto, but it also offers an exchange platform where you can trade your STEEM crypto within its browser extension.

Exodus is a user-friendly multi-currency wallet supporting over 200 cryptocurrencies. This gives our clients the freedom to exchange and trade their digital assets from within the wallet with ease.

You can also use Exodus to earn passive income while trading, spending, and exchanging all of your favorite cryptocurrencies. Our team of professionals is dedicated to providing you with the most simple, powerful, and secure solutions for your crypto needs.

Contact us today.