How can you utilize Steem Power to earn more Steem tokens?
Before anything else, let me give you a quick briefing about Steemit - it's a social media platform where users can earn rewards in a form of Steem by creating-posting content or Steem power by upvoting contents.
Steem is one of the liquid tokens which can be converted to Steem power through a process called powering-up. In a similar way, SBD (Steem Backed dollars) is also a liquid token which can be converted to Steem, as mentioned earlier - can be converted to Steem Power.
So, now that you have your account all powered-up. What can you do it to earn more Steem/SBD to grow your account?
Let me breakdown it two different ways: Passive & Active way of earning.
Let's start with the "passive" way of earning, and in this way you are literally earning as you power-up your Steem. It goes this way, the Steem blockchain is generating a fixed amount of tokens each day: 75% of it go to the Rewards pool, 10% of it will be distributed to the Witnesses, and 15% of it will go to the SP holders in a form of interest rate relative among other SP holders.
Since the earnings in this manner is stake-weighted, the growth of your earning depends on the amount of SP that you have. If your SP level is categorized as "minnow" or lower, then the interest rate can only be observable in a long period of time. But if your SP level is categorized as Whale, then the interest can be observable in a matter of days or even hours.
Now, let's talk about the obvious ways of earning through the use of your Steem power. The "active" ways of earning more steem / SP are:
1. Rewards from Curation
Let's start with the most reputable way of doing it, by upvoting the contents posted by other users.
At the moment, a post rewards / payout is being distributed in this manner: 75% goes to the author of the content while 25% goes to the curators/upvoters of the content itself. Think of it as reward for discovering the content.
Again, the curation reward is also stake-weight which means that the more SP you hold, the more earnings you will get. It may not sound a lot but it will actually encourage content curators to produce content consistently and improve the quality over time, so while enjoying viewing contents you are being rewarded as well.
2. Delegate your stake
If you think that your free time doesn't allow you to maximize your curation work, the best option is to delegate it to a Dapp or community accounts that are distributing curation rewards to its delegators.
There are many Dapps that offer either a daily or weekly curation rewards distribution, these are my personal suggestions: actifit, dpoll, partiko, magic dice, & utopian.
3. Lastly, vote selling platform
Probably the least reputable among my suggestions a few months ago but due to the regulations being imposed about it, I think it's already accepted by the community as well. Why sell your votes? It's the same reason as my second suggestion, there isn't enough time for a person to maximize the curation work / rewards.
Currently, there are two options to where you will sell your vote: Smartsteem & Minnowbooster. Both of them have "whitelist" program where in you can actually choose to activate so to make sure your upvote will go to the ones that are considered by Smartsteem / Minnowbooster as good quality content creators.
To sum it up, holding Steem power is the best thing to do in Steemit platform. And by doing so, you are actually protecting your stake in a safe way. And while doing so, you will also have a way to earn either liquid Steem/SBD by delegating SP or selling your vote and earn more Steem power through your curation work.
Cheers!
FT
Posted from my blog with SteemPress : http://funtraveller.repollo.org/2019/03/05/how-can-you-utilize-steem-power-to-earn-more-steem-tokens/
Nice breakdown, it is also up to the Steem holder to strategize their portfolio on whether they wanna power up, delegate, putting more effort on curation, buying votes and etc. To do so, we still need a minimum, let’s say 1,000 Steem to get something out of it if not everything will be too minute to be observe and the compounding will be very slow. Nonetheless, it is a good time now to be active and stack up Steem as there are less active users around to grab the curation reward. Perhaps in another story can look into different situation and different “startup Steem” which can affect our gain on the platform.
Posted using Partiko iOS
Thanks for sharing your insight Kim. The way I see it, investing in steem is more like a marathon and not a sprint. We should look at the long term gains and not just for a quick "overnight" gain.
However, reading about @tcpolymath's post about gaining more reward through pure Steem, made me think more beyond to what I mentioned on this post. You might have read this already, but let me share to you the post link
https://steemit.com/steem/@tcpolymath/dolphin
This is something to think about as well.
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