I know how comprehending steemit rewards and payouts was difficult for me when I first joined steemit. Posts from people like @shenanigator and @cryptoctopus helped me get the hold of it.
So I decided to make this post to fully explain how steemit payout works for newbies.
First thing you need to know is # The rewards you see on steemit interface is not in US dollars but in SBD - Steem Backed Dollars.
Let's use this post as an instance
The reward shown there is $43.85 in SBD.
Secondly, you receive only 37.5% of the rewards shown at the payout time.
Let me break this down.
25% of the rewards goes to the curators. These are the users that upvote your post.
From the remaining 75%, half of it is paid out in steempower.
The remaining half is paid in SBD (Steem Dollars)
So, at the end of the day, only 37.5% of the shown rewards will be available for cashout.
37.5% of 43.85 SBD is 16.44 SBD
16.44 SBD converted to US dollars (assuming 1 SBD = 7 USD) will be 115 USD.
So there you go. You can now know what your actual payout will be when you convert steem dollar to FIAT.
