What is DeSo

DeSo is a social media platform similar to the ones we already know, but the only one that allows you to speculate with money. It is like a stock exchange, but instead of having big companies listed, you have profiles of famous people and content creators that you can invest into.

The platform is also built on a blockchain like cryptocurrencies, and it is also decentralised. In comparison to Bitcoin’s blockchain, the network also supports social media data like profiles, posts and whatever happens on the network.

Is DeSo a cryptocurrency

While being a social media platform, DeSo has a currency of its own, known as…DeSo. You can use the currency on the platform to invest into accounts.

And how can I get DeSo crypto and invest?

The easiest way to get DeSo coins is by exchanging it for USD or Bitcoin. Check out our step-by-step instructions on how to purchase DeSo! here.

The moment you exchange some Bitcoins for DeSoson the platform, you will be able to start investing. We advise you to check out our step-by-step instructions after you fully read the DeSo 101

How is DeSo good for content creators?

Just like with any other social media platform, everyone is given a chance to grow their audience. The difference is that this platform allows content creators to make real money and receive financial support to become big. 

As the creator’s popularity grows, more people will invest into the creator’s account rising the account’s creator coin price, the founder reward and the diamonds received. If the creator invested in his account early on, the investment will also grow. 

What is a creator coin?

Once an account is created with DeSo, you will see something called the creator coin. This is the price an account is worth on the platform at the moment. The more content is created, the more people follow the account, the bigger that change is that others will invest into it. The more investments = the higher the creator coin. 

What does the coin price depend on?

It is all about supply and demand. If an account is worthy and creates value to the public, for example due to amazing content, as more followers invest, the price of the coin will rise. If the account decides to stop posting or becomes unpopular for some reason, the price of its coin will probably fall and there is a big chance that a lot of investors will sell the coin.

And then what is a Founder Reward %?

Anyone can invest into anyone’s account on DeSo. And in order for the creator to make some cash out of it, a Founder Reward % or FR in short was created. Every time someone invests into your account, you get a FR% that you have set up in your profile. 

That is the % of each investment into your account by others that you will get for yourself. It’s like getting a getting a tip, but mandatory.  

For example, someone wants to buy $100 worth of an account that has an FR set to 10%. The person’s investment into the account will become $90 and the owner of the account will get $10. 

So what’s a Diamond?

Instead of pressing a like button, there is an even better way to reward the content creator for a good post by sending them a diamonds. Think of it like a crypto tip that can vary from as low as $0.01 up to $795. Wow.