Meaning of Steemit:

Steemit is actually a social networking site which looks for and functions hugely specially like the Reddit, but they have got one big difference, Steemit actually plays for both the content creators especially when their works get upvoted, and also the people who priest the best contents on this site by making upvoted the works of the others. The Steemit platform is actually built in a new type of digital currency so for that reason it is possible for upvoting.

The way Steemit works

In some ways or the other Steemit is totally similar to the other digital currencies. As for example, Steemit currency unit could be easily traded, purchased or sold in the open markets like the other options of the digital currency.

The peoples who run a Bitcoin software program especially on their own computers gets the actual currency units which are created every day with the collaboration of the other crypto currency like Bitcoin, which perform a process known as Bitcoin Mining. On the other hand, the amount of money that you have will be dictated by the amount of your computer usage.

The people who actually create the different types of content will be rewarded. Then those people who upvotes the content are also rewarded for making help to invent the best content which can be availed from this site. The commenters also add this into discussion and for that also they get the payment.

There are three units of the Steemit Currency those are as follows:

Steem

Steemit are those units which are bought and also sold for the money which is actually put on the open markets. Anyone can also make trade or business as same as like the Bitcoins or a company stock

Steem Power

If anyone owns a Steem Power units, it is essential for making an investment for a long time period in the currencies because one could not sell the Steem Power Units for at least 2 long years.

Steem Dollars

Steem dollars is the last type and also the final type of the currency from which your value will never be diluted or lost. This is totally designed to be a stable form of currency which you will be able to sell anytime you want. As soon as you create your content popular then the 50% of the payment will be made cleared in the Steem Dollars.

Thus at the end it is concluded that Steemit is the way through which you can earn by creating your content and making those contents popular in the site, thus by getting a complete payment.