In recent times, Steemit is gaining popularity as a cryptocurrency site that pays everyone, from content creator to upvoter. However, a few are speculating whether it is legit or just another scam. Why not? After all, this platform pays people for posting content, commenting, and upvoting. Having years of experience helping people make money with the Steemit bot, we can assure you that it is not a scam. To understand this better, let’s go back to the inception of cryptocurrencies.
- The era of cryptocurrencies
Cryptocurrencies have always been in the limelight since the day of their advent. Unlike fiat currency, cryptocurrency is a revolutionary way to make a significant amount of cash in no time. Today, it is not limited to technological innovation. But for some people, cryptocurrency is a hobby or an investment mode.
One of the primary drawbacks of investing in virtual currencies like Bitcoin, Ethereum, and Litecoin is mining rigs. Please remember, the process of mining cryptocurrencies takes a lot of effort and investment. Also, you may have to buy a new mining pool now and then. Therefore, Steem comes into the picture.
- What is Steem?
Contrary to other cryptocurrencies, Steem is a bit different, which does not require proof-of-work to mine. Instead, this cryptocurrency rewards people depending on how engaging their content is that they posted on the platform – Steemit.
Steemit is a blogging platform that runs on the blockchain. It uses the Steem blockchain as its back end. The primary purpose of this blockchain-based application is it links the cryptocurrency to contributors. For example, you can use the Steemit bot to create an engaging post and store it on the Steem blockchain. Generally, people can earn rewards in two ways – by voting on blog posts on the platform and writing valuable content.
- Is Steem bot a scam?
As for now, Steemit is the first social media or blogging application that rewards engaging, valuable content with cryptocurrency. If you are a proficient writer, you can mine Steem cryptocurrency with ease. So, is the Steem bot legit or a scam?
If it’s your first time with Steemit bots, you might consider it nothing more than a scam. It is strange to get paid for using social media, which has never happened, except for content creators. Steemit Bots offer automatic upvoting of new posts and other re-steem services. Good content and investment are the two things that reward posts. If you see a post with high rewards, it is promoted by Steemit bots. Otherwise, getting high rewards on content is not an easy win.
Also, Steemit blockchain-based social media platform that rewards its users with Steem for curating engaging content. The support from blockchain makes the platform more transparent and secure while offering better control over your content.
- How does Steemit work?
The best thing about Steemit is it does not require investment in the Steem cryptocurrency to make use of Steem. You can get free access to your account from Steemit. If you want to know how to make money with the Steemit bot, we are here to guide you.
When it comes to getting Steem, it is a bit of a complicated process. Steemit uses three types of tokens to power its platform, such as:
- Steem – It is a primary token that Steemit uses. Probably, it is the cryptocurrency that you will hear about the most.
- Steem Power – Steem Power or SP comes with a 13-week vesting schedule. More Steem Power means more worth to your voting.
- Steem Dollars – They offer an interesting promise to the holders. In simple words, the holder will get a dollar in Steem, which they can use in exchanges.
The existence of Steem Dollars is an indication that Steemit is a legitimate cryptocurrency platform.
Besides this, Steem has made a home on several cryptocurrency exchanges. For most people, a currency is not legitimate until it is featured on some trading platforms. But the good news is several leading cryptocurrency exchanges have started using Steem due to its incredible benefits. Thus, it is possible to exchange Steem for Bitcoin, and you can even convert Steem into dollars.