Mining

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Steem Mining

Get Steem by Socializing

For most cryptocurrencies like Bitcoin, the best way to get coins is by mining. However, this process can be a challenge, considering the tight competition among the large community of miners. In addition, these miners have to incur huge expenses to purchase and maintain the necessary equipment.

Fortunately, Steem mining does not require you to invest in mining equipment or to compete with other miners. All you need is an account in a Steem-powered social networking platform. Read on and learn how you can mine the altcoin.

How to Get Steem Through Steemit

The fastest way to earn Steem is by posting and commenting on social networking sites that support cryptocurrency. One of these commonly used sites is Steemit, the first social media network powered by the altcoin. You can earn coins through Steemit by following these steps:

Registration

Like other social networking sites, Steemit requires you to sign up first. Steemit will ask you to enter your email address and to verify your phone number. The site will then add you to the waiting list for account creation. The approval process could take as long as one to three weeks.

You will receive an email from Steemit once your account has been approved. After that, Steemit will give you a permanent password. Make sure to remember your user name and password, as you cannot access your account if you forget one of these details.

Content Creation

Steemit welcomes all kinds of content, including blog posts, anecdotes, photos, videos, and memes. Just submit whatever content you want, and then post it on your profile. Your post will then appear on the New section of Steemit’s home page.

It is important to remember that in order to earn, your post must get upvotes or likes. As long as your post receives upvotes, you will receive payouts in Steem Dollars (SBD) and Steem Power (SP). The more engaging your post is, the more chances it can give you to earn high income in return. Remember to make your post appealing to Steem users so you can earn more coins.

Content Curation

Even if you are not posting content, you still have a chance to earn by leaving comments on a post. The amount of SBD and SP you will receive will be based on the number of upvotes in your comment. Make sure your comment is witty and engaging so that it can get more likes.

Token Conversion

Once published, your post and the comments thereto will remain active for seven days. After that, you can claim your earned rewards through your Steem wallet. You will receive your compensation in SBD and SP, both of which you can convert to STEEM. You can even convert your STEEM to fiat or other cryptocurrencies, or you can trade these coins for SP to increase your voting influence on the social network.

If you are converting your SBD to STEEM, you will have to wait 3.5 days before you receive the amount. This is the regular processing time of Steem’s blockchain. If you want to receive STEEM instantly, you can exchange your tokens through trading sites.

Compared with mining other cryptocurrencies, getting Steem is easy. Just remember that you must come up with interesting content so that more users can upvote your posts.

Other Steem Apps and Tools

Since the launch of Steem, other apps and tools were introduced on the blockchain. These innovations have given users additional opportunities to get Steem outside of Steemit. Here are details on some of the apps:

Busy.org

This site serves as an alternative content creation platform to Steemit. Some of Busy.org’s features include free digital payments and a marketplace for goods and services.

DSound

This app is a sound platform and a permanent database for music, podcasts, and spoken words. What musicians and artists will like about DSound is that they are compensated immediately after they publish their songs and recordings.

Peerhub

Peerhub is an online marketplace for buyers and sellers. Although it accepts mainly SBD, the app also supports payments through PayPal and other cryptocurrencies.

SteepShot

SteepShot is similar to Instagram in which users can share and like photos as well as comment on other posts on the timeline. This Steem-powered app claims that images cannot be censored by third-party sites.

Some of the available Steem apps and tools bear similarities to popular social media. The only difference is that content creators on Steem-powered platforms get rewards for the upvotes they give to and garner from other online community members. This motivates artists to create more quality content for users.

Mining Steem is definitely easy. Instead of investing in expensive hardware, all you need is an account with at least one social networking site powered by Steem. Now that you do not have to worry about expenses, you can instead focus on creating valuable posts for your fellow users to gain Steem tokens in return.

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