How Do Payouts Work?
In our last guide, we explained how an upvote works as a mechanism to distribute tokens from the reward pool each day. Those rewards accumulate in posts / comments and amount to your eventual “payout.” In today’s Toolkit, we’ll explain how to the payout process work from start to finish and what each number means.
Choosing Your Post Payout
Each time you click the “Submit a Story” button in preparation of post, you’ll have the option to choose 1 of 3 payout types - Default (50%/50%), Power Up 100%, and Decline Payout. What does each one mean?
- The default 50% / 50% option splits your payout rewards between STEEM Power and Steem Dollars (SBD). The split is based on a 3.5 day average value of both currencies in relation to the US Dollar. The STEEM Power will be vested into your account while the SBD will be readily available for you to withdraw or exchange. (Learn more about the differences between the two, here.)
- Power Up 100% converts all of your payout to STEEM Power. This is an efficient option for new users to quickly build their voting power while they focus on familiarizing themselves with the technology, platform, and community. (Learn more about SP here.)
- Decline Payout is just that - declining to take any rewards for the post or comment you made. You'll notice some of the bigger accounts on Steemit (the whales) declining payouts so that they don't drain the daily reward pool. In many cases, it's an announcement / etiquette thing.
No matter which option you choose, your post or comment will “pay out” exactly 7 days after initial time of posting. During that time, clicking on the dollar amount will show you the approximate time before payout.
Payout Breakdown
When a post is paid out, you’ll see the division between rewards Authors and Curators.
As touched upon briefly in the Upvote Guide, a percentage of payouts are distributed amongs the “curators” that upvoted your post or comment and the majority to your account. The distribution is approximately 75% to the author, 25% to the curator(s). You can read more on the detailed nuances of calculating curation percentages here.
Redeeming Rewards
After the 7-day period, the payout will appear in your Wallet tab like this. Clicking Redeem Rewards will transfer the amounts to your account. Curation rewards are also redeemed in this way.
Exploring More @sndbox Steemit Toolkits
Thanks for reading! We hope you found this "Upvote Guide" useful. If you have any questions please don’t hesitate to reach out in the comment section. Check out our other toolkit posts for helpful tips and ideas :
Solid post, wish I had this 23 days ago when I made my account! hahaha. Thank you for this :)
Yes I remember how confusing it was at the beginning.
Paid to post WHAAAT?!
I like your articles about what you would do for steemit, I'll give you a follow. :)
Thanks for the support!
A lot of buttons... no not really buttons, it is a complex system. USD, Steem$, SteemPower, APR, witnesses, voting, ... my simplified understanding so far: steemit = twitter on the blockchain
Your reputation score is rising quickly. Great job!
Thanks! I did really well on my first few posts. I love the research you posted, very detailed!
Hah, you have it now! Glad you found it useful :)
Awesome work guys!
Thank you @joshtristram! :)
@sndox i have been looking for a post like this this couple of days to correctly explain this stuff. I really appreciate. Good luck in the future!
Thanks for reading and for your support :)
This is a great article... I finally understand how this is working better now.
Glad to help!
So if I am new on Steemit should I use more often: "Power up (100%)" rather than "Default 50% - 50%"?
As a really simplified rule of thumb for newcomers, we would recommend the following -
If you're learning about crypto for the first time and just want to grow your account efficiently with no hassle, we suggest 100%
As you get to know the platform better, learn about the internal Steemit Market, and want to start trading/withdrawing STEEM/SBD, we would suggest 50/50
Hope this helps!
that helped, thanks!
Good to know! Thanks for the information man.
Good post thanks....but....do you still get tokens after the 7 day period if people keep upvoting please?
This is very helpful stuff for all new people....thank you for putting this together.
It is greatly appreciated.
Our pleasure =)
Great detailed explanation..Thank you..going to just power up as i am new.
Glad to be of help!
Very nice description
Thank you sir =)
Lovely explanation and newbies will find it very useful.
Thanks! We hope so
Welcome dear.
YES finally it makes sense
;)
wonderfull post u have share a topic related to steemit tools and explained very well i really appreciated you for that and my whole support for you.
Many thanks @rabeel!
This is exellent explanation...Thanks from my heart.
You are welcome from my heart <3
Thank you for the concise explanation and great tips in your toolkits, clarifies how steemit works, much appreciated :)
Our pleasure!
This is very helpful. I had recently wonder if the payout was based on the average or the price at the time of the payout, in regards to Steem price. So I found that extremely useful knowledge. Thanks for another well laid out, how-to article.
We're happy that this post is useful!
Like others here, wish I saw this earlier upon starting, :)...another excellent, informative post, thank you.
Glad to help!
Thank you so much for this article
Absolutely!
Once again a great post before us. Loving your post style. You are awesome ....
Btw thanks for the info you have shared with us. Such posts will help newbies in understanding the steem environment.
Thanks .
Thanks for the support!
.
We don't give investment advice... but @sndbox likes STEEM :)
thanks for the information.
You're very welcome!
Really useful post, thank you. I didn't know how this work, so far it just guess work, now I have a clearer understanding of the system. I've already followed you but I'm going to read your other posts. Is there a way to bookmark the post that you want to read in the future?
Hi, thank you @loannethor! Right now there isn't a way to bookmark posts, but hopefully there is an option for that one day soon! Many thanks for the support and kind words :)
Ok, I thought so. Thanks for the information, I've resteemed for post so I can always go to my blog and check your posts from there. I enjoy getting to know friends on Steemit, please keep in touch.
Thanks @loannethor! We'll be posting a master post twice a month as well as a refreshed comprehensive guide
Your article was forwarded to my by my good friend @ibringawareness. I love how simple you made this! Easy to read, fast-paced and it brings the reader the info they need in a straightforward way. You got an upvote and follow. I invite you to visit my vlog and follow if you like the content. Peace, my friend!
Oh that's great! Thanks so much @highimpactflix!
Oh my, this is a well-timed post. Just the information I was looking for as I'm just beginning to build up steem. So now I have some new questions: (1) What happens next, after rewards are redeemed? (2) Can a person buy things with Steem tokens, like we might buy something with bitcoins? Lots of other questions too, and I imagine the answers are already waiting for me somewhere.
Hi @wildfamily! Those questions are probably worthy of posts in themselves but here are some quick answers -
1- After rewards are redeemed (assuming you chose 50/50), half will be powered up into Steem Power to boost your voting weight while the other half is liquid SBD. You can either convert that into more Steem/Steem Power or send it to an external exchange like Bittrex to have it converted to other crypto.
2- As of yet, Steem is not a "mainstream" crypto like Bitcoin that can be used in marketplaces that use fiat currency.
Hope this helps!
You went the extra mile, thank you! I'm grateful for your answers here. Yeah, it's still a bit fuzzy to me, so I'm thinking I'll search for some posts on each of the subjects I'm questioning, and maybe I can summarize my findings in a way that benefits myself and others too. Your explanations are much appreciated, though, and I feel you're pointing me in the right direction.
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Thanks =)
Great post! I'm new and see I have a lot of catching up to do already, so this is this is perfecting timing for me.
Thanks! Glad we can be of help.
@sndbox This is actually some amazing work!.
Thanks @dawnasheelagh!
Thanks for sharing!
Our pleasure =)
Great stuff, wish I had seen this a couple of months ago :-)
Hopefully better late than never! =)
Very good info :)
Thanks =)
you are welcome?
Does this steemit has to pay money for membership? And i cant see my money in steemit. Where to find it?
Hello @keima17! For information on your wallet, check out our dedicated wallet post. Hope this helps!
thanks heaps for this just found it but definitely something I have been trying to understand the last day or so since joining but it makes sense now! :)
Cheers! I'm still clueless where the money comes from!
Oh my gosh I learned something today. Thanks for posting this.
You can find Russian version of this post HERE
Русская версия тут
Good job
Thank you so much for this post.
Question:
What happens if people upvote your content after 7 days?
Does this mean that after 7 the day payout, you will not be able to earn any more from that content?
I'm a newbie to Steemit and, like the others, I wish I had read this the first day. Today, I transferred some Bitcoins into my Steem account, and then powered up some of them up to Steem Power. This site is certainly not straight forward....there's a lot to learn for sure!
Useful! Love your sharing! #strengtenmyfoundationonsteemit