What is Steemit.com? Is Steemit a Scam or a Legit?
Are you here because you want to know either is Steemit.com a scam or a legit? Do you want to find out what is Steemit in real? Are you searching Steemit reviews for that? If so, then you have absolutely landed in the right place because here we are providing the complete truth, complete unbiased Steemit review. So, if you want to find out either is Steemit scam or legit, then just keep on reading our Steemit.com review. However, instead of going through our Steem It review in detail, if you want to find out the answers of your queries in short, then following are some brief answers:-
What about the future sustainability of Steemit?
It’s hard to predict the sustainability of this business because it is completely a new concept with new business design. So, it takes time to judge any new kind of business. Only the time will tell how much it can sustains, but at the moment it is not bad at all. But also, we need to see how concern authorities react on these kinds of businesses.
Is Steemit legit or scam?
Well, if you are asking either Steemit is legit or scam in the terms of legal authority policies, then at the moment it is neither a legal nor a scam because it is completely new kind of business which takes time to get accepted by legal authorities. Actually, new businesses also can fall down due to the unpredicted reasons. So, we don’t think legal authorities will take any action pretty soon about this site and may be will observe the results for at least some years.
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Does Steemit work?
Yep, it is working and people are getting paid, but it is not as easy as it seems. You can’t earn enough according to the time and effort you have to put in this work. However, you can make some extra pocket money, but for that you need to do lots of hard work not only to work with this company, but also to understand its work and transactions details which is very confusing for any beginners to understand. We don’t know why they have to make those things so much complicated. However, if you can understand everything and then can do lots of hard work, then you can make some pocket money from this company, but not a full time income. So, if you are looking for the full time online income on regular basis so that you can quit your job, then it is better you join our No.1 recommendation known as Wealthy Affiliate about which you can find the details by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/. You can also find the list of various kinds of legit online work companies within our “Good and Trusted Online Works” section by clicking this link:- newsonlineincome.com/legitimate-work-home-businesses/
However, we have not listed Steemit within our Good and Trusted Online Works section, but that doesn’t mean we are saying it is a scam. Since it is paying from March 2016 to its every members, so we have listed it within our Promising Online Works section. Actually, the main reason we haven’t listed it within our Good and Trusted Online Works section is due to its business nature which hasn’t been confirmed as legit or scam by concerned government authorities and also it takes time for us to declare any business is legit or scam because we need to test that business for some years if that business has very new kind of business model. That is why we have listed Steemit within our Promising Online Works section. And there is one major drawback of Steemit and that is no one knows how much profit it is making in order to pay its members. There is no way to confirm either it is paying members by making real profit or not, which means its business is not transparent completely. This is another reason why we haven’t listed it within our Good and Trusted Online Works section.
Well, now you got the short answers of your queries, but if you still want to find out in detail what is Steemit, then you can continue reading this Steemit.com review as below.
Steemit login and join in link:- https://steemit.com/
What is Steemit? What is Steem?
Steemit is one of the social media, also can be taken as social news service which pays its users with the digital currency known as Steem to post blogs, comments and so on, in other word for engaging in its website which will help to increase the value of its website. In order to post blogs and comments in Steemit, you need to become its members by signing up with it free of cost. But, in order to understand its payout system, you need to understand first of all what is Steem.
Steem is its own digital currency. So, from Steemit, you will not get paid directly into dollars, but first of all you will get paid in Steem digital currency and then you can convert that into Bitcoins and then you can convert those Bitcoins into USD. But, the problem is the value of Steem, which is actually very vulnerable, such as one time even it reaches upto $4.63. However, after that the price of this currency has always felt down and most of time declined back to near $0.3. Due to this fast growth and demise of the currency, many people doubt that Steem can ever be a stable digital currency or not. Actually, when the price of this currency rises up, the ones who got benefits were the early adopters and the founders of this scheme and the ones who got hurt by this are the people who join the company later and stuck with lots of coins which have lost their value. So, we don’t think it is a good idea to work to get such coins which value is even not fixed and also can decrease in the future.
Even they haven’t provided any exact figure how much money you can make by posting how many comments or blog posts or with level of engagement. So, you never know how much money you can make or you are earning because even your earnings are shown in their own currency which value is unpredictable. On top of that those people who are working in Steemit, their earnings doesn’t seem to be too good as per our observation according to the time and effort they have to put in this company. If they have put same time and effort in other businesses, they would have earned much more good amount of money.
Another problem is, the system of Steemit relies on thumbs up metrics to measure the value of content which can be easily manipulate. Their system would be good if they have considered the value of content according to the traffic number of the post and the comments within that post and the engagement of the users within a community. So, as per their metrics, the deserving candidates are not earning good enough amount of money and those who can manipulate the system with spammy techniques are making much more which is definitely not good for the overall growth of the company.
As per the latest news, the SEC (The U.S. Securities and Exchange Commission) has contacted some blockchain businesses that are holding token sales, and forced them to close and refund investors. So, in this case we have to be worried about Steemit business as well because Steemit runs a blogging and social networking website on top of a blockchain database. This service produces STEEM and STEEM Dollars are tradable tokens which users obtain for posting contents or for discovering, liking, commenting on contents. So, we also need to be cautious with the business model of Steemit as per the latest news of SEC.
It is hard to find out either the business model of Steemit will be consider as legal or not by concerned authorities. But, since it is paying to its members who are making money from it by posting blogs, comments and so on, and for that people can join it free of cost, so you can try it and see it by yourself how much you can earn from it. If it works well for you, you can continue, otherwise, better just find out other platforms to make money online. However, the risk involves with this company is its legality, the value of STEEM and its complication to trade STEEM within popular cryptocurrency wallets. So, if the value of STEEM keeps on declining, working with Steemit will be useless. On top of that, there is not any clarity about how much profit Steemit is making and how much it is paying to its members from that profit. So, we have listed it within our Promising Online Works section instead of our Good and Trusted Online Works section which means we are not promoting it, but also doesn’t mean we are saying it is a scam. We only mean there is a risk to work with this company about which we have already mentioned as above.
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