Steemit Explained In Depth : Become A Steemillionare!

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Excuse me for being blunt, but can I blow your mind for a second? If you answered "no", and I told you that my words could have changed your life, would you have changed your mind?

There you go! Now I have your attention!

First off, in order for me to blow your mind, I need to show you our Youtube channel's age demographics. Secondly, we need to convert the years of age we see into minutes.

This gives us something like this:

Steemit Explained In A Demographic
Steemit Explained In A Demographic

With this data, we can see that most of Wealthy Hustler’s audience are 25 - 34 years of age. Also, thanks to my super duper math skills, we can see that the average wealthy hustler has lived between 13,140,000 and 17,870,400 minutes on this Earth.

With this data, can you imagine the number of thought processes the average wealthy hustler has had in his or her life? If I were to guess, I would guess the average number of wealthy hustler's total thought count, from the ages of 25 - 34, would be somewhere around 300,000,000 - 1,000,000,000 thoughts.

Furthermore, if you consider yourself a wealthy hustler, then you’re creative, innovative, and smart. Therefore, whether you’re an engineer, designer, writer, photographer, videographer, artist, presenter, scholar, or other type of creator, chances are you have had at least one, if not many, million-dollar ideas before!

This only leads us to conclude that, with all of the moments you have lived in your life, your powerful mind has created an insane amount of million dollar ideas!

Steemit Explained + Mind = Blown

However, the amount of money you earn from Steemit all depends on you!

Note: If you think we are making money off of this post, please think again. Our main objective with this Steemit guide, is to help you potentially become a Steemit member (Steemian). In no way, shape, or form do we make any kind of profit off of you signing up with Steemit.

In this special guide, we cover everything we can explain about Steemit including:


If you really want to work from home and make a crazy passive income, you should subscribe to the Wealthy Hustler’s List! When you have subscribed, you will get weekly useful and high quality news, reviews, guides, and motivation with everything and anything to do with money-making.

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Before you get started, you will see some unusual terms. So far, these are the terms we would like to go over:

  • Steemian: A term used to describe a Steemit member.
  • Whale: Often used in cryptocurrency, the term whale is a Steemit member, who has large amounts of Reputation and Steemit Power.
  • Steemillionare: An unofficial term dubbed towards successful a successful Steemit member, who has a Steemit account that is worth $1,000,000 or greater.

Steemit's Golden Opportunity

Now you might be thinking, "This is another Internet get rich quick scheme for fools". Perhaps you are pondering in your mind that we are feeding you a load of bull shi**!

To be quite honest, at first, this what we thought about Steemit. Also, as previously mentioned, we have nothing to gain from you to using Steemit.

The fact is this: steemit is providing a crazy amount of opportunity for you, just like Youtube did when they started. We like to compare Youtube and Steemit, simply because they both reward their creators.

To show you what we mean, we want you to rewind all the way back to the timeframe of December 2006. This is approximatley around Youtube's first year. This is also when their biggest influencer, PewDiePie registered on Youtube.

With this said, some people think PewDiePie is a genius, because of his funny and engaging content. On the other hand, other people don't.

There's always different people's opinions, so it's no surprise that some people think PewDiePie is a God, while other's think he's a complete jackass. For Pete's sake, just look at one of his videos!

For the critics out there, you may have had thoughts such as these running through your mind:

  • "ahhhhh he'll never make a living off of videos!"
  • "What an idiot, he's making a fool out of himself!"
  • "Wow... grow up man"

However, did you know that the Youtube star has earned an estimated $124 million, since 2010? Furthermore, did you know that this very same opportunity PewDiePie had is in your reach, because of Steemit?

Still having doubts? Maybe this Steemit post, which consists of a member proudly announcing that he is quitting his day-time job, because of steemit, will help. Would this throw your Steemit doubt in the garbage bin?

However, don't get too excited yet. When you want to become a successful and famous adopter of the Steemit platform, timing has to be right, just like it was with PewDiePie and YouTube a decade ago. In order to get success, you have to earn it first!

Therefore, if you truely are a wealthy hustler, we recommend for you to jump on this opportunity, as soon as you can. Heck, you never know, you might be become the ‘King of Steemit’, just like PewDiePie did with Youtube!

Now that you know Steemit is actually legitimate, let's show you our explanation of the platform!

Proof: Becoming A Steemit Millionare Is Real!

Now, we have confidence in  you that you at least know becoming a Steemillionare is in the realms of possibilty. However, at Wealthy Hustler, we are big fans of embracing your with more than enough proof, so you can be even more confident!

Living Examples Of Steemit Millionares

If there is any truth about our Steemit explanation, there should be more than a handful of people earning substantial amounts off the platform, right? Well, yes,we can excitingly tell you there are tons people racking in money with Steemit.

Having followed Steemit for quite some time, these are the top three people who we think are hustlin' that dough with Steemit. Keep in mind, these people are making anywhere from from 3 figures to six figures!

However, out of all of these three very successful people, we have one favorite Steemillionare of our own. This is The Dollar Vigilante's very own, Jeff Berwick.

​Who's the dude with sun kissed skin, a suit on fleek all the time, a happy face, and is always at the beach?

Jeff Berwick

​Who's the guy that made the hilarious post about the notorious Steemit whale Bernie Sanders?

Jeff Berwick

Who invested into BTC when it first came out, made millions off of it, and for sh**ts and giggles made this legendary Youtube video!?

Jeff Berwick

Please please please excuse our fangirling over Jeff Berwick, but honestly, who doesn't want to be Jeff Berwick? This man is a true innovator, entrepreneur, and one of our personal idols.

One Million Dollar Steemit Investment Strategy

Previously in the first part of our Steemit explanation, we said that it's possible to write your way to a million dollars! Just take a look at the Steemit article, "It’s so easy to become a millionaire with Steem", by Anonymint.

In this post, Anonymit explains Steemit and shows you how it's pretty simple to become a millionaire on the platforms. Again, this is if you put your head to it at least.

In this fascinating article, Anonymit explains, with an initial investment of $400 and the power of compound interest, you can become a millionaire in just five years if you earn $2 daily from your blogging. You may think this is an exaggeration to next level, but take out a calculator and check it for yourself!

This works because, when you are holding Steem, you get paid 10 % interest. As the media increasingly covers Steemit explanations, more people will join the platform and it the market will eventually boom. With the growth of Steemit, there are chances that it can be bought up for billions of dollars from a social media or tech giant such as Google or Facebook,.

If this happens, the value of Steem and Steem Power would increase exponentially past it's current value. With this being said, it's very possible that we would be responsible for creating a millionare, if you choose to put your efforts in Steemit.

Now, we know all of these numbers and new terms are ​confusing. Therefore, We're going explain to you an easy way of understanding the essentials of Steemit.

The Main Concepts Of Steemit Explained

Steemit, which is entirely based on the Steem blockchain, is a social media platform. If you don't know what a blockchain is, just think of it as a database.

Within this blockchain, there are the 3 main concepts you need to know, which are:

  • ​Steem
  • Rewards
  • Reputation

Steem

When writing this article, believe it or not, one of the biggest challenges we faced was, "How are we going to describe Steem?" This is entirely because this term is very confusing and is often misused a lot!

Steem is a cryptocurrency designed to transfer value towards Steemit rewards such as: Steem Power & Steem dollars. Think of Steem like an adapter.

​Therefore, without the Steem adapter, all you really need to know, is that making real-life fiat money wouldn't be possible without it.

Rewards

Within the Steemit platform, users who actively post, comment, flag bad content, and upvote valuable content are rewarded pretty graciously! This means you can make money by either producing or voting on high quality and valuable content that other Steemian's post. Pretty cool, right?

To dig deeper, there are two types of rewards, which the Steem blockchain gives to you, and they are:

  • Steem Power
  • Steem Dollars

More importantly, the Steemit blockchain distributes payouts as 50% Steem Power and 50% Steem Dollars. This goes for both curators and creators.

​Now that we know how Steemit rewards their members, let us explain them to you!

Credits to donkeypong

Steem Power

Think of Steem Power as 'shares' within a stock. As you build your Steem power, you will have more power within the network. Therefore, when it comes to taking advantage of Steemit's opportunities, Steemit power is a "powerful" concept to learn.

Lastly, it's important to mention, Steem power is non transferrable and non sellable. However, you can choose to power down.

Powering down means that your Steem power is turned into Steem. All of this is done within two years.

​When you choose to power down, every week your Steem power will be transferred to Steem bit by bit. Most importantly, the transaction will not be 100% complete, until the second year.

​You might be pondering in your brain, "why would Steem be given in increments like that?" This is simply because it safeguards Steem's market.

If people panicked and converted all of their Steem Power into Steem and cashed out, then the Steem market is vulnerable to crash. Therefore, Steem power is partially designed to keep the Steem market from being so volatile.

Steem Dollars

First off, Steemit dollars never deappriciate in terms of quantity. Secondly, you are able to cash out your Steemit dollars into money.

Lastly, it's important to mention your options, which you have with Steem dollars, and these:

  • Cashing Out: Sell your Steem dollars for Steem and then exchanging Steem into real cash.
  • Holding Long-term: For some investors, this may raise an ear. Just like STEEM power, you can hold your Steemit dollars, while Steemit pays you an annual interest of 10%.
  • Powering Up: This is essentially the opposite of powering down but faster. Simply exchange your Steem dollars for Steem Power if you want bigger rewards, as well with long-term investments.

Reputation

Secondly, there is a reputation system. Your reputation is determined on all of the total upvotes your account has.

New accounts start with a reputation of 25 and can gain upwards or downwards movement. This promotes positive interaction within the Steemit community and leads to more growth of revenue of course.

Furthermore, this allows a Steemit user to visually see the overall quality of a fellow user. A Steemian might want to look into a user's reputation to see whether or not  the user's content is worth investing into, as far as curation rewards go.​

Great, this platform seems pretty solid, as far as rewards goes. Now, let's show you people that are taking advantage of Steemit's opportunities!​

The Hype Behind Steemit Explained

There are several reasons on which Steemit is being called the future of all social media platforms.

First of all, Steemit is no side project created by random college coders (no offense Mark Zuckerberg). In fact, the people behind Steemit are Ned Scott and Dan Larimer, founder of BitShares.

To simplify the complexity, BitShares is a software, network, ledger, company, exchange, bank, and cryptocurrency actually is. Yeah, it's all of those things.

Most importantly, Bitshares is a decentralized exchange. This means, the particular exchange isn't centralized (under one location). Therefore,when you compare centralization & decentralization, the chances of theft, robbery, information-theft, and robbery are decreased dramatically.

Furthermore, to give you an idea on how valuable BitShares is, its total market cap is currently valued at pricesly $359,579,662. That is 30% of $1,000,000,000. Furthermore, BitShares is growing day by day.

Now, look at this Google​ Trends data:

Steemit's hype

Furthermore, a majority of Steemians are putting out very high-quality, well-optimized, and rich content out there for Steemit to see. Google ofcourse sees this and really starts to give Steemit a prioritized authority over sites.

This ofcourse results into thousands upon thousands of high quality content getting indexed near the top of the search results each day. Therefore, is natrually putting out more and more brand exposure to the public.

For example, think of the "average Joe". He may search for something like "best vr 2017" and get taken to a Steemit article.

Chances are, the user will be curious about Steemit. Think about all of the curious users that have no idea about Steemit, but then research it, land on a Steemit explanation article like this and adopt the platform.

Also, it may be hard to believe, but Steemit is in Beta! You've got to think, once Steemit gets officially released to the public, there is no question that the mass media will hype Steemit more than it actually is.

This in return makes Steemit even more popular and ultimatley increases the value of the platform. Remember the influence media had on Bitcoin?

Our point is, Steemit has been growing quite fast and has garnered over 171,000 users. Along with its growth, Steemit's functionality and rewards have also improved tremendously.

With two geniuses co-owning Steemit, the ultimate plan before releasing Steemit to the public is to make the platform more user friendly. The platform is constantly adapting towards server load.

Steemit is aiming to distribute author rewards more evenly and easily than ever. This is very important, because this shows us that Steemit is strictly focus towards quality.

Lastly, in support of Steemit's hype, experts are firm on belief that this is just the beginning for Steemit and the time is ripe for using it as a potential investment. This is especially if you are already an established writer.

*Cough* Jeff Berwick, owner of The Dollar Vigilante. *Cough*

How To Sign Up And Become A Member Of Steemit

Perhaps, this is one of those $1,000,000,000 ideas! 😉 We are going to explain Steemit's signing up procedure. You will be happy to know that becoming a user on the platform is quite simple and easy to do!

Here are the steps to make a Steemit account:

  • Head to https://steemit.com/pick_account
  • Enter your desired account name (username)
  • Enter your email address in
  • Enter your phone number
  • Verify your phone number
  • Verify your email address
  • Wait for your application to be accepted

We created an a Steemit account in less than five minutes. Afterall, Steemit is aiming towards ease of use, right?

Now, although the application process with Steemit is quick and seamless, the real challenge we believe is waiting.

Some people wait hours;some wait weeks. It all depends on how much load Steemit has. Please also keep in mind that the reason why you have to get accepted into the Steemit platform is only because it literally costs them to create your account.

What You Should Expect From Steemit

Have you ever heard the saying “If it seems too good to be true, then it probably is”? Well, this saying applies towards getting rich quick off Steemit with little-to-no effort. If you think that you are going to be successful within the Steemit platform overnight, then you are in for a huge disappointment.

​So, if you just wanted to be a copy and paste warrior or an image stealer, then cheer up buttercup. It's going to be okay 🙂

You see, Steemit is not a get rich quick platform and they hate cheaters. In fact, Steemit is an authentic platform, which rewards its users monetarily. However, Steemit focuses on original content creators.

Therfore, for the sake of this Steemit review, please do not waste your time plagiarizing, spinning, or exploiting the Steemit system. They will find you and take your earnings away.

To step back into reality, expect to earn just a few cents for your content or even nothing at first. However, with everything, be a wealthy hustler and don't give up; it's totally natrual!

This is because, when you are a nobody on the platform, you don't attract a lot of attention. Metaphorically think of it this way: You are just a minnow in a huge sea of whales, sharks, dolphins, and sea monsters.

However, as you slowly start to build your profile on Steemit and get a reputable follower base, you are going to get traction.Thus, the rewards given by other members will be worth your time.

For this concept, think of your followers as food. The more food you have, the more you are able to grow into the biggest creatures of them all: whales!

Since you are a small creature in a sea full of prosperity, your reputation and Steem power is your life. Therefore, there are a ton of Steemians, which have gained the most respect, because of their reputation and became a "Steemit Whale".

A Steemit Wha..[le]?

To explain, Steemit whales are usually early adopters of the Steemit platform that have produced a lot of quality content. Becoming one of these gigantic Steemit sea-creatures takes a lot of effort, just as becoming a Dr. does.

Because of this, Steemians respectively referer to these powerful influencers as "whales". With this said, whales can either be your best friend or worst enemy.

Therefore, if a Steemit whale upvotes you, you get an extremely powerful reward and reputation boost.

Here's a visual representation of one of the first Steemit whales, Jerry Banfield. You can see his power, because he literally gives his friend $7 from his vote!

​Crazy,awesome, and scary, right? So what does this mean?

Simple, don't piss off a Steemit whale! Treat them with the upmost respect and in return that will pay off.

​Think about it! Why would you want to make someone that could make you successful on Steemit mad?

You see, one of the beautiful traits of the Internet​ is that you have the ability to say what you want to say. Don't be a hot head when it's preventable.

Content Available On Steemit Explained

If you have used Reddit and Medium before, you are going to naturally get Steemit. In fact, you might have realized, Steemit is like a marriage between the aforementioned social platforms.

Therefore, it's really no surprise that Steemit has all of the main categories all of their existing competitors have. Because of this, there are endless niches to write about and discuss on Steemit. ​

Some popular Steemit categories to write about are:

  • Photography
  • Art
  • Bitcoin
  • Travel
  • Blog
  • Food
  • Cryptocurrency
  • Steem
  • Spanish
  • News

While we are not sure about the total number of topics being discussed on Steemit, we're confident to say that anybody can find at least one niche suitable to his or her taste on the website.

What sets Steemit apart from other platforms, in terms of content, is that all of the articles on it are secured within a blockchain. This is the same blockchain that manages the Steem tokens for curators and creators. Steemit explained it's blockchain and content management concepts quite thoroughly in its white paper.

While hosting of text is quite obvious, Steemit also stores images on its platform. For sharing videos and other multimedia, you have to embed them from other web hosting services like OpenLoad or Youtube. The platform supports HTML editing and has a WYSIWYG editor.

Posting Your First Steemit Article

After you have made your Steemit account, now you need to start churning out your blog post.

There is no good time to start using your Steemit account. For posting an article, just click on the ‘Submit a Story’ button on the top right of the page and start writing.

Remember to keep your article in a neat format to make it friendly to read. Do not just post a big block of text or plagiarized content. Instead, experiment with images, quotations, headings and pointers. Be a creator and think like a reader. Ask yourself: “if I saw this post while browsing, will I stop and read it?”

Most Profitable Topics On Steemit Explained

Incase you didn't know, there are a lot of niches on Steemit. Everybody can write according to their own flavor and interest.

However, I would suggest you to pick up topics that are trending in your niche and becoming viral. You may see one such topic on another social media platform or on Steemit itself.

Do not be bothered if you see someone already writing on a viral topic. If you feel that you can write an article better than that particular person, then do it. A high quality article will usually make a space for itself on its own, especially if you have a decent fan base.

Here are some golden tips, in order to write a successful article:

  • Follow the mass
  • Write original content
  • Be entertaining or give value
  • Don't kill yourself in trying to make the article perfect.

The Mentality Required To Make Steemit A Success For You

Being a wealthy hustler, you know the difference between being a millionaire and a 9-5 struggler is the mentality and approach towards your success.

Success on Steemit requires a positive energy from you mentality. I wanted to touch on this topic in my Steemit explanation, as people often give up too soon;all they needed to do was by taking one more step.

Do not think or feel that you have missed your opportunity, if you're not making the big bucks from your first article. In fact, most Steemians require a few articles to be posted, before they start raking in the money.

Moreover, we suggest that you to enter the world of Steemit, with a mentality of promoting knowledge and sharing content. Just use it like you would use any other mainstream social media platform like Facebook or Reddit.

Promote and engage with positive content. Focus on what top writers in your niche are doing and how they are writing their content.

Observe patiently and take notes. This will help you scale up, once you start growing.

It is also strongly suggested to comment more often and talk with other Steemians. This is a great way to demonstrate your knowledge with others and make followers. However, commenting does not mean generic ‘good post’, ‘interesting’, etc.

Try to ask questions, go in depth and show to the public that you are really interested in the topic at hand. If you do not have much to add to a topic, do not comment.

When you start with a mentality like this, you will be able to be patient for success and wait for your growth. This is important. You may even see it this way that on other websites you are not being paid anything, while on Steemit you are at least making something, even if it is in cents!

Release Your Inner Entrepreneur!

When using Steemit, one of the last points we want to mention is to release your wealthy hustler mindset! Seriously wealthy hustlers, the world is your oyster with this platform; be innovative and start visioning your success!

Lastly, you may be wondering if your English or writing skills are appropriate. Afterall,because it's low-quality, no one would upvote a post with grammatical errors, right?

This is entirely wrong! In fact, the real element of quality other Steemians look after is the content and originality of your post.

You do not need to be a professional writer. Just be a wealthy hustler, take action, and quit coming up with excuses!

Some examples of taking advantage of Steemit are:

  • Creating a curator bot
  • Create a reply bot
  • Design a method to engage people to comment on and share your posts
  • Make roundups of anything favorable in your niche

With the guidance we have offered you in this Steemit explanation article, all you have to do now is pick a topic, type, and publish articles. Can making money get easier than this?

Also, I want to leave a message for people who are looking to get their income streams expanded but are tied up to their office desks. Steemit is one of the best opportunities for you to start your entrepreneurial career.

This is because Steemit requires zero investment, in terms of money.Really all you need is just a small percentage of your dailty time. Stick to working on articles day by day, for a couple of months and we're sure we won’t be seeing you complaining. 

Wealthy Hustler & Steemit

At Wealthy Hustler, our aim is to do what we preach. Having started our Steemit channel only in June 2017, we have steadily made impressive progress with Steemit.

steemit explanation follow

Our Steemit blog is still in the early days. However, when using the same strategies, which we have mentioned in this Steemit explanation article, we have been able to get almost a hundred organic followers.

With followers came Steem dollars, Steem power, a greater reputation, and better rewards. These are all good signs and signals for more growth over the upcoming months.

If you find yourself signing up to Steemit, please do us an honor and follow us!​

Conclusion

As we put a wrap to this Steemit explanation guide and review, I would recommend anybody, who are endeavoring success with Steemit, to begin as soon as possible.

As I said previously, Steemit is a great money-making opportunity, with a probable huge return. The platform is still new and you have the chance to take action and grab your audience while you can. As Steemit becomes more populated, establishing a following may get more difficult and require more effort.

Do not keep sitting and thinking. There is really nothing to lose here. Now that we have explained Steemit to you thoroughly, all you have to do is get your laptop.

So, start typing about things that you really love and become a Steemit whale! Learn as you grow on the platform and always remember not to let perfection kill your productivity!

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Trent

Trent is obsessed with making money online. Ever since he was a kid, he has enjoyed helping people.
From Techie Journal to Wealthy Hustler, Trent is always online innovating his businesses.
This blog holds a special place in Trent’s heart. It is his online blogging portfolio, when it comes to making money online.

He wants to prove that anyone can cut the traditional “9 to 5 job” and work online by being surrounded around wealth and prosperity.

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