What Is Steem Token? What Is Steemit? How to Start Earning? Part 1


It's easy to get confused when talking about STEEM because there are multiple definitions for it. Today we'll go through the most important things that you need to know about Steem and then look at many ways you can earn Steem tokens yourself.

To understand the Steem ecosystem better, we must go through the definitions. I'll try to be as brief as possible because nobody likes definitions. Okay - there's a chance there are people living for definitions but I'm not one of them.

It's alright if it gets frustrating at some point, especially if you're new in the cryptoworld but don't worry - you can learn everything if you're consistent about it.

If you really don't care about definitions, just skip the part and come back later if you need it because the best way to learn something is by doing it.


Steem Blockchain

As a blockchain, Steem is open-source and it is decentralized which means it has no central server and it runs on the network of nodes set up by Steem users who we call Steem witnesses.

The fact that the blockchain is decentralized also means it's free of censorship - you can post anything you want and it will stay on the blockchain forever.

Yes, you can edit your posts but if someone wanted, they could easily find what changes you made.

Steem blockchain is based on Graphene technology and it offers 3-second speed blocks which means that every transaction done on the blockchain is completed within 3 seconds.

It's when you're upvoting someone, posting a blog post, a comment or simply sending Steem tokens to someone.

Compared to other cryptocurrencies, the block speed for Bitcoin is 10 minutes and for Ethereum it's 14 to 17 seconds.

Steem Token

Steem tokens are the basic cryptocurrency of the Steem blockchain.

To earn STEEM tokens, you must use the Steem blockchain and one of the ways to do it is by using Steemit.com which is a website that allows you to view and interact with Steem blockchain.

As of right now, there are many websites and smartphone applications that allow you to interact with Steem blockchain but steemit.com is the original one.

There's a website called Steem Apps where you can see other ways to use the Steem blockchain.

Steem Dollars (SBD)

Steem Dollars (short for SBD) are another cryptocurrency that comes from Steem blockchain and is closely related to Steem. Both of these cryptocurrencies (Steem and SBD) work together in order to maintain a healthy balance for the ecosystem.

Steem Power (SP)

Steem Power is your way to gain more influence on the platform. Having more SP adds value to your votes. In Steemit, people with lots of SP are called whales and those who are just starting their way up are minnows.

There's a website, called SteemWorld where you can see your stats and also stats of every user and even simulate SP to see how much your vote would be worth if you powered up.

Steem Wallet

Steemitwallet is the place where all the coins you worked hard for on the blockchain are stored. If you click on the link you will be taken to my wallet where you can see all my rewards and the transactions I did.

It's the power of blockchain - transparency. Everyone can see your wallet as you can see mine. Every bit of information you could think of is visible to everyone on the blockchain (upvotes, downvotes, transfers, edited changes and so on).

This is how my wallet looks right now. Not very inspiring but we're on our way to top. By being consistent and passionate, BOI will show the world that everything's possible

How to Use the Steem Blockchain?

Now that we're done with the most important definitions, it's time for the good part. Defining things is not my strongest suit so forgive me if the part above didn't make any sense. Let's hope the next part does.

As I mentioned above, there are many ways to use Steem blockchain but it wasn't like that at first. When Steem blockchain launched, the only way to engage was to use Steemit.com but thanks to blockchain being open source, the active community has created many other ways.

We'll start with Steemit and then continue with other Steem Apps that you should know about.


This is how my blog looks when using Steemit.com

Steemit.com was created in 2016th by the Steemit.Inc which has recently been sold to Justin Sun, the CEO of BitTorrent and TRON but we'll talk about it more on another post. Right now - we'll tell you more about Steemit. There are now more than 1.2 million Steem users.

Steemit is the original way to use the Steem blockchain so if you want to dive right in, go to the sign-up page and sign up. The process now takes from 1 to 2 days, depending on how many users sign up at the time. When Steemit launched, registration could take a week so 1-2 days isn't a long time.

Guide to signing up for Steem Account

Once you get approved, you're ready to go. Follow the instructions in the email and be sure to safely store your steem keys because if you lose them - it will be hard to get your account back. Until today I thought it was impossible but this morning I read a guide about recovering Steemit account.


Steempeak was created quite recently and it's pretty awesome. It's similar to Steemit but it's more advanced.

What I like about steempeak.com is that it looks and feels better than Steemit.com. It feels more intuitive and it has more features like:

  • creating templates for your posts
  • scheduling your posts
  • in-built statistics about your blog
  • 3rd party services
  • witness votes

This is how my ''feed'' looks
You can see useful statistics about your blog and who's voting for you
useful 3rd party services like eSteem search where you can find the latest posts (opposite to Steemit.com built-in search that doesn't work properly)
You can easily vote for your favorite witnesses and see their stats

eSteem App

eSteem is an application you can download for your smart-phone with additional features like multiple accounts, notifications and votes from eSteem moderators for using their app. It also has a Windows version which you can use but I don't know if somebody is using it because you can use steemit.com or steempeak.com

I'm using eSteem when I'm on the go because for me it's easier to use the app than my browser. Plus I'm earning eSteem tokens while using the app that I can later convert to Steem tokens or use to boost my posts.

What Can You Post?

You can post anything you want on the Steem blockchain, even NSFW content. Starting from your own life and your daily routine to anything that happens around you. Talk about crypto, write your own thoughts, write poetry if you want. There are no limits but your own mind.

Yes, if you'll start spamming posts of other users, you'll get flagged and it will decrease your rating until your post is hidden. There is one guy or a group of guys who are spreading some Jesus worshipping group on almost every Steem post. They're using bots to promote their church. All they get is downvotes of course. For me - it's funny how determined they are.

Use the unique voice you have and you'll be heard. Don't copy-paste some random inspirational content. You're better than that - share your experiences and collect some new ones.

This post got me 520 upvotes and it's my record so far! I also earned about 7$ as you can see. The other part goes to authors and 15% to Steempress for using their plugin

Tips You Should Know

  • Always use tags or else your post will not be seen
  • Format your post to make it look better (use paragraphs, add headings and images)
  • Engage in the communities to gain exposure to your blog (Steem users are like a big family)
  • Be consistent - it's important in all areas of your life (read our post about having a daily routine)
  • Use your creative mind - it's the best way to overcome obstacles along the way
  • Be willing to learn about #steem blockchain and don't be afraid to ask for a help (share your own experience on the blockchain to receive feedback and stay motivated)


Steem blockchain has been on the web for a while and it looks like it's going to stay that way. With Justin Sun buying Steemit.Inc it looks like the future of steem is in safe hands.

Although the price of Steem has been dropping for a while (since the start of 2018th when one Steem Token was worth more than 4$ and one SBD was more than 7$), there's a big chance it will recover so BOI suggests - it's better to start Steemin' late than never.

In the 2018th when the price was on the moon, you could earn more than 1000$ for one post and I'm not kidding.

Look at this post about Kurt Cobain, for example. It earned more than 1700$!

It was the high time for Steem but I believe it will go back, if not to the moon than at least in the orbit! It's never too late to join and start your own blogging journey! This might be your time!

Any questions?

If you want to ask for help or cooperate on a project, you're welcome to do that on BOI's Telegram or join BOI's Discord group. BOI will be glad to answer your questions and join hands in creating something together!

More about Steem

BOI will keep writing more about Steem because this post only scratched the surface of the Steem blockchain. There are many more sides to the token!

Thank you for reading! Now it's my time to start writing part 2 of Steem and your time to sign-up.

Stay productive and create your own legacy!

Posted from my blog with SteemPress : https://www.bagofincome.com/what-is-steem-token-what-is-steemit-how-to-start-earning-part-1/

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Steem is a pretty big topic to cover and so probably best to cover it over multiple posts like you have planned. Good luck :)


That's the first thing I understood when I started creating this post!
Thank you! BOI really appreciates the feedback!


No worries :) I wouldn't even try these days and think I did 4/5 posts on the topic a couple of years ago which was prior to S-E, Communities, free-DVs, etc, etc!

Thanks for the nice post about steem blockchain. I think we call this steem coin, but not a token !


Thanks for noting! BOI is happy to get your feedback!

This is a well put together article especially for those just learning about all things Steem!


Thank you! BOI appreciates the feedback!