Steemit Payment Proof and Steemit Wallet Explained

This Post: Steemit Payment Proof and Steemit Wallet Explained

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hey guys one of the biggest questions I get asked about Steam it is the payment proof now if you've been on to the steamer platform you may have seen articles like this where they've got these ridiculously high amounts of money so I think I just need to explain how this happens now this particular Creator has 795 votes and 151 comments that's extraordinary high and their authority score which is this one in the brackets here is 75 so it takes a little bit of time to build your reputation up in steam it so don't expect to beginning these sort of payouts in the first day but over time you will build your authority in the space and make more money so for this blog post they've earned four hundred and twenty seven dollars so far they've had four hundred and fifty-seven people actually vote them up so just keep this in mind when you begin your steamer journey it all takes a little bit of time to get going and your reputation just starts at 25 so let's go and have a look at some items in the new section here you'll see we can find a lower rank so here's one here this person has a 59 reputation and she's earned a 16 cents but she's only had one vote so far and it's only been published for the first 16 seconds or 26 seconds now here's another one here has just been released it's only been released for under a minute now and hasn't received any votes so although it's nice to get into the training tab to see sort of what the potential is in steam it you have to be a bit more realistic now this particular person here has a slash through the dollar sign that means they've actually rejected payment so they didn't want to claim any money for putting this post up it's fair enough because it's obviously one of the steam administrators just letting everyone know that the steam blockchain has processed 1 million transactions in 24 hours anyway let's go ahead and look at this payment proof okay so if we just hop over to a my account we can see under the rewards tab that I have earned to author rewards for producing content now these don't seem like a lot of money but it actually all does add up now if we head over to the a wallet we can see that I need to redeem rewards to transfer it to my balance now this is something that you need to pay attention to because even though you've earned money from your blog post it'll sit in this area here until you actually click this button so just be aware of that so at this point of time I've got 1 point 5 9 6 SB d which is stimpak dollars and 0.58 steam power so let's redeem these rewards and transfer it to our balance so now we can see that our steam power has gone up and our steam dollars which is the steam back dollars has now gone up as well now $1 73 it doesn't look like a lot but if we actually go across to the marketplace where the price of steam back dollars are one steam back dollar is equal to twelve dollars fifty nine so that's around about eighteen dollars just sitting in my steam dollars now I could cash that out and transfer it to my savings it does take three days to clear before I can then withdraw it but it could be available but most people on steam it actually want to build their steam power because their steam power actually determines how much money they get where they curate other blog posts so to get more steam power first of all we need to transfer these steam dollars to steam which is this value here so we're going to do that by going into the marketplace so let's just click on this here and we'll go to market now this is the internal marketplace and you can buy and sell steam here and you're transferring between steam back dollars and steam so in this case I want to transfer everything so I'll just click on available and I'll have the lowest ask price and I can just click by Sting and for my 1.7 I'm getting a 16 you'll just need to sign in with your password and that transaction should be complete okay so back in our account we can see that we now have zero steam dollars and we have some extra steam now you can use this and cash that out if we have a look at the actual steam market one steam is worth three dollars and fifty nine US dollars so that's a few dollars there so that steam value there is worth around sixty US dollars but I don't want to cash out right now I'm going to convert my steam into steam power so the steam power is the thing that controls how much money you earn on curation rewards and so you want this number to be as high as possible if we just head over to here steam decom this is just the front end to the blockchain and it will tell you exactly what's happening on anyone's account so this is my account here and you can see currently my voting waders at 32 so I've got 32 steam power and my voting power is that said that 95% at the moment so you get about 1% per hour so when you vote that value goes down and it takes a little bit of time to recharge so it's actually about 20% per day the bandwidth probably won't really matter too much it's whether you're uploading too much at one time your reputation obviously is important the higher reputation you have the more trust you have in the community and as you can see I've only been doing this for nine days so let's go back to the account and we can see right now the estimated account value is a hundred and twenty-five dollars so that's not bad work but let's go ahead and convert some of this theme to steam power so we just do that by clicking on here and we click power up now we just need to work out how much we want to power up I just like to leave a little bit in the account in case I want to give some away so we'll just do 15 steam for now and we just click power up so we can see now our balance has gone down in steam and now our steam power has gone up so if we now go back over to our other account here and we just do a refresh we should see that it's gone up by the amount that I've just added so it's now up to 47 steam power so this just means when I vote it'll give the author's a little bit of extra money and I might get a little bit of extra back just for voting so that's probably all you need to know about your steam account for now I might do a tutorial on moving it out to an exchange but that's not really something you want to do straight away you want to build up your steam power at least over a hundred before you actually consider taking anything out because with that extra steam power you can have more authority on the blog so as I say I'm pretty happy with a hundred and twenty-five dollars worth of account value this value will go up and down depending on what the market is currently doing at $3.59 still got a long way to go and that's another reason why I'm actually keeping my funds in Stephen for now anyway it was supposed to be a quick video it's got a little bit longer than expected so if there's any more information you need to know about the steam it wallet leave them in the comments below and until next time it's bye for now [Music]