Blogging on Steemit
Three months ago I wrote a post about blogging on another website where I made USD46 within a month. You can read about that post here as that will give you some background on what I’m talking about.
Since then, my account balance has grown to $1637!
I thought I’d give an update on how things are going for me, especially since I often see quite a lot of people asking how they can make money by blogging.
In the four months since I’ve joined Steemit, here’s what I’ve achieved:
- Followers 609
- Followed 289
- Posts 70+ (comments are treated as posts as well)
- Earnings $1636
My followers on Steemit are much higher than on WordPress, 4 times in fact! Steemit has a very strong ‘I’ve followed you please follow me back’ culture, as there are quite a lot people who think they can make a quick buck there instead of genuinely wanting to blog. That is the biggest mistake they make and they never last long.
Regardless, since there are only 400k registered accounts on Steemit compared to over 76.5m on WordPress, it is much easier for people to find my blog and follow me.
Steemit is based on blockchain technology which means the data isn’t owned by anyone and doesn’t sit on a single server. Anyone can get access to all the information (excluding password of course) and find out pretty much anything about an account, such as the information above.
I can even find out my ranking (or anybody else’s) on Steemit for different things. For example, amongst the 400k registered users, I rank:
- 1531by reputation
- 3274 by earnings
- 6110 by followers
Reputation is a feature on Steemit which roughly equates to how much power you have, and your influence on how the earnings are distributed.
Since I wrote my last post on WordPress about this, I have had the support of some big whales (people who are much much more powerful and higher up the chain than me) who have upvoted (like) my posts thereby increasing my earnings and reputation.
The earnings from each of my post now average around $40ish, the highest being $89 and occasionally $5.
I’m not saying its easy to make money on Steemit as I still spend a considerable amount of time posting and networking just as I do here.
Furthermore, I’ve come across some really great bloggers but they only make a few $ per post as they haven’t got on any big whales’ radar yet. Having said that, there are is a strong sense of community on Steemit, and many are very eager to help newbies to grow the platform, and to help discover and upvote quality undervalued posts.
One thing I have to mention, if you’re not aware of yet ~ Steemit earnings are paid in a crypto currency called Steem, this is similar to Bitcoin if you don’t know what crypto currency is. You can withdraw your earnings, but not all of it at once, that’s to ensure the stability of the currency.
My verdict so far?
- The time and effort I spend on Steemit is the same as what I would have spent on any other blogging website outside of WordPress
- I have never invested into crypto currency, so whatever I earn on Steemit doesn’t cost me anything and is all upside for me
- I have got over the first few months which is always the most difficult
- I am gradually expanding my network, in fact I even met a group of them face to face recently
- Would I recommend Steemit to others? Yes, that’s why I’m writing this post, BUT with a big warning. There is a big difference between being a big whale and a small minnow on Steemit. Some people don’t like this hierarchy system, so if you’re one of them, then Steemit probably isn’t for you.
If you ever decide to join Steemit, please do come and say hi.
Happy blogging where ever you may be.