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RE: Beginner’s Guide. Part 2. Steemit: How the hell does it work?

in #steemhelp8 years ago

Great information. It took a while to wrap my head around how the profits work. Basically profits get split between Steem Power and Steem Dollars. Steem power gives you more reputation in the system as well as collecting interest on it. Steem Dollars can be converted to Steem which can be sold on a cryptocurrency exchange for Bitcoin or Dollars. Steem Dollars also collect interest but a lower amount than Steem Power. It is a really well thought out system.