Let's talk about the rewards here on Steemit, what to expect and how it works. A lot of people are joining the platform only to be disillusioned about the payouts, it's time to set things straight.
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Get Paid!
"Your voice is worth something. Join the community that pays you to post and curate high quality content." This is what is says on the Steemit front page. The community gives you a share from the reward pool by upvoting your high quality content.
But it is not like a job where you have a guaranteed salary at the end of the month. The payout depends on a number of factors.
- The amount of upvotes on your post
- The voting power of the accounts
- The size of the reward pool
- The price of Steem
These factors decide what your payout ($) will be.
To be honest I care less what the payout in dollars might be and focus more on the amount of Steem I can collect.
Amount of votes
Simply put, the more votes, the more money you get.
The voting power of the accounts
It matters if the person upvoting you is a red fish, minnow, dolphin or whale. A red fish or minnow can only contribute cents but nothing more than a dollar to your post. Dolphins and Whales can add dollars in the range from one to more than a hundred.
You can check how much your own or someone else's voting power is worth here.
The size of the reward pool
The size of the reward pool dictates how much is available to spread around. The bigger the reward pool, the the upvotes are worth.
The price of Steem
If the price of Steem goes up than the worth of your payout in dollars also goes up. For example if you have a post worth $10 and the price of Steem is $1 but the price of Steem goes up before the payout) to $2 then your post will be worth $20.
Managing your expectations
The payout is not linked to the quality of your post, the length or the time you invested to write it. Like I said it is not like a job where you get paid by the hour or by the quality of your work. This means that when you write a brilliant blog and spend hours on creating it, it can still be that you receive nothing or less than you expected.
. The last thing you want to do is look at the trending posts, match the quality of those posts and expect the same payout.
Getting upvotes also depends on a number of factors.
- Popularity on Steemit
- Number of followers
- The subject
- Luck
Popularity on Steemit The authors who are constantly trending are well-known Steemians with a loyal following. They worked hard to get their network up and running and are known for their constant high quality posts.
Number of followers
Numbers matter and in the case of Steemit it also matters that the numbers are real. By this I mean that the followers should be real followers who are interested in your posts and not follow4follows.
The subject
Is your subject interesting to a large group of people? You can write about a large number of things but if no-one is interested in the subject nobody will read it let alone upvote the content, no matter how well crafted it is.
Luck
Probably the most important factor. It all depends on the right people noticing your post. Important curators like @curie or a whale could send your post to the trending pages.
How to get high payouts
If there is a formula that guarantees high payouts than I would like to know about it too. But there are a couple of things you can do to maximize your chances of getting more value for your posts.
- Invest in your followers
- Join community projects
- Follow successful Steemians
- Keep posting quality content
Invest in your followers
Try to increase the number of people following you and make sure that your following is really interested in the content you put out.
Join community projects
Projects like circle of friends and qurator will increase the chances of your posts being noticed and you will make some valuable contacts along the way.
Follow successful Steemians
Check out how the successful Steemians do it. What are their posts like, how did they build their brand. How do they interact with their followers?
Also try to connect with the popular authors, interact with them by commenting on their posts, they might be able to give some valuable advise.
Keep posting quality content
Don't get discouraged if the high quality posts you submitted don't get the deserved attention immediately. Just keep at it, people are bound to notice your talents eventually.
It's like a game
I am a gamer and the thing about Steemit is that it reminds me a lot of gaming (in a good way).
RNG
RNG stands for random generated. This is when you put a lot of energy in a activity but don't know what you are going to get. It might be good or not. Steemit often is like that, you never know how well your post is going to do or what comments you are going to get. This is what makes it fun and exciting.
Grinding
In games (especially RPG's/MMO) you have to "grind" to get the stuff you want. "Grinding" is where you have to do numerous tasks to achieve your goal (gear/abilities/power). Most of the time the grind is not a fun activity but it can be achieved in numerous ways. The trick is to make it as fun as possible and always keep your eyes on the prize.
The takeaway
Steemit setup so that people invest in the platform, this is one of the reasons why you cannot power down all your Steem Power at once.
To be successful on the platform you will have to invest in your relations, your posts and Steemit itself.
Let's get real, Steemit is unique in that you get awarded for doing the same thing you might do on Facebook, Twitter or Reddit and no-one is getting any form of payment on those platforms.
Steemit is not a get-rich-quick scheme it just opens the possibility of earning money by creating content.
The best advice I can give is to enjoy yourself, have fun creating your posts, interact with your fellow Steemians and just have fun. If you get paid doing this, well, that is just an added bonus, if not well it might still come.
Have a great time here on Steemit and leave some comments in the comment Section. Thank you for taking the time to read my post.
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