![bit steem.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516869506/mhtw8wzk3jkg2mbtiipy.png)
[Source](https://steemit.com/cryptocurrency/@jacor/bitcoin-daily-growth-since-2010)

I should admit I am not equipped with the necessary knowledge about cryptocurrency but I like to talk about it more often, that way I believe I would be able to learn more and more until I could finally call myself as a crypto expert.

### Why do we need to become an expert?

In the world of cryptocurrency the word “Trading” is prevalent.  I mean you cannot be involved in this kind of digital business as I call it if you will not indulge into trading and doing such requires enough knowledge otherwise you will end up crying with all your money lost in just a blink of an eye.

Mining is another prevalent term that connects to cryptocurrency.  In layman’s terms it is about mining or obtaining additional cryptocurrency as reward.

I remember few years back wherein I was hooked up with mining to earn some satoshi, I’m not sure with the site anymore but there was this platform wherein you will apply as a worker who will do some kind of janitorial work for a manager and get paid for hours rendered. 
 
It was kind of fun, I mean you are just like playing but you will be compensated.  Although the earnings is far too low compared to what we are earning here on #steemit. 

Then after some time you can be promoted into a higher position until such time that you will become a manager which of course you can expect higher salary.

Exciting tasks indeed but I didn’t continue with it considering the amount I am getting from such a role-playing job on line.  

Maybe if the value of bitcoin that time is at 20,000$ then maybe I am also rich today if not a millionaire, LOL.

Now back to the question thrown above, I know there were a lot of steemians who started a topic about this.  But I just would like to ask the same question again.  There might be different answers after sometime on STEEM being in the cryptocurrency market.

When bitcoin was created in 2009 people were so skeptical about it.  Although there were few who believe that it will be successful after some time.

After about 8 years there were already more than a thousand cryptocurrency that were created and STEEM is one of them.

![maxresdefault.jpg](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516868017/ne80osojtzbrsiovlnxb.jpg)
[Source](https://www.youtube.com/watch?v=fsXpaPSVasQ)

### So how does STEEM works?

As we all know, STEEM is a digital token, digital money or cryptocurrency similar to Bitcoins.  And just like Bitcoins STEEM has no central authority it maintains a decentralized network.

STEEM is the reward we will get when we share opinions, videos or information and even photographs via blogs submitted and uploaded on #steemit, an amazing social platform that rewards members for their contents.

There are actually three ways a #steemit member could earn in the platform, first is through contents or being a content creators as mentioned above and second is through curation rewards.  Members are rewarded to curate or up-vote the best contents.  And last but not the least is through commenting.

I find the third one as something steemians should not take for granted.  I see people who earn more on their comments or reply to a particular post higher than the earnings they get in their own content.  

Comments usually comes with a very few words compared to a regular blog. And yet, could earn everyone good money. Sounds strange but it is how the way it is.  

So if someone is having a hard time thinking of something to write and share, he should go out and leave his valuable comments on trending contents he finds interesting.

![steemit-image-1000x600.jpeg](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516867915/slv3czqqd6jemoyts61e.jpg)
[Source](https://globalcoinreport.com/heres-take-advantage-steem-dollars-sbd-run-right-now/)

### People confuse the term “Steem” with #steemit. 

This is normal since they seem to sound close to each other and so they tend to be used interchangeably.

But the truth of the matter is that #steemit is a blockchain based writing platform while STEEM is the base of #steemit.

### What do you mean by that?

As mentioned above, #steemit is a platform based on a blockchain that pays its members who produce quality contents and the rewards a member will receive is in a form of digital money called STEEM.

### Steem Dollar versus US Dollar

Another misconception I myself was really puzzled in my first few days on #steemit was about the difference between SBD and USD.

When I receive my earnings on my very first post I thought the currency was in USD as it shows the same sign.  But the two are actually different.  Maybe the reason why people had that misconception is because once upon a time the value of SBD is still at about 1 USD.

![chart.jpg](https://res.cloudinary.com/hpiynhbhq/image/upload/v1516867121/nybi8ye4zeqpe6htttwb.jpg)
[Source](https://steemit.com/steemit/@donkeypong/still-confused-by-steem-steem-dollars-and-steem-power-the-power-plant-analogy)

## BEST WRITE UPS to read to know more about the basics

As I go through those long-standing contents with topics about understanding the three currency of #steemit I came across with this post 2 years ago by @donkeypong.  I find it the best explanation so far with all those illustrations for newbies and even older members like me to fully comprehend the meaning of each of those currencies used here on #steemit.  

I strongly recommend to visit his post, you may click [here](https://steemit.com/steemit/@donkeypong/still-confused-by-steem-steem-dollars-and-steem-power-the-power-plant-analogy) to get through that amazing, concrete and precise explanation of things we need to know.



### Thank you for reading, I hope you learn something from this post as I truly did.
***
### Let me know your thoughts about whether or not STEEM will follow the footstep of Bitcoins in the comment section below.
***
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