Posted by Joyce Ramirez on Feb 19th, 2018 // No Comments
Steem (CURRENCY:STEEM) traded 1.6% higher against the dollar during the 1-day period ending at 6:00 AM E.T. on January 27th.
One Steem coin can now be bought for $4.
34 or 0.00039612 BTC on major cryptocurrency exchanges including Poloniex, Upbit, OpenLedger DEX and HitBTC. Steem has a market cap of $1.
08 billion and $12.08 million worth of Steem was traded on exchanges in the last day. During the last week, Steem has traded up 5.2% against the dollar.
Here is how related cryptocurrencies have performed during the last day: Get Steem alerts: Bitcoin (BTC) traded 4.3% higher against the dollar and now trades at $11,010.30 or 1. BTC.
Bitcoin Cash (BCH) traded 2.7% higher against the dollar and now trades at $1,536.
31 or 0.14019000 BTC.
PACcoin (PAC) traded 0.5% lower against the dollar and now trades at $0.0000 or 0. BTC.
Counterparty (XCP) traded down 10.
2% against the dollar and now trades at $29.49 or 0.00269260 BTC. Crown (CRW) traded 0.4% higher against the dollar and now trades at $3.
27 or 0.00029831 BTC. Namecoin (NMC) traded 1.9% higher against the dollar and now trades at $3.18 or 0.
00029026 BTC.
Unobtanium (UNO) traded 0.2% lower against the dollar and now trades at $154.16 or 0.01406750 BTC.
ATBCoin (ATB) traded 15% higher against the dollar and now trades at $0.56 or 0.00005109 BTC. CHIPS (CHIPS) traded up 26.8% against the dollar and now trades at $0.44 or 0.00004004 BTC. Terracoin (TRC) traded up 1.
1% against the dollar and now trades at $0.24 or 0.
00002171 BTC.
Steem Profile
Steem is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on July 4th, 2015. Steem’s total supply is 266,479,625 coins and its circulating supply is 249,505,531 coins.
The official website for Steem is steem.io . The Reddit community for Steem is /r/steemit and the currency’s Github account can be viewed here . The official message board for Steem is steemit.com/@steemitblog . Steem’s official Twitter account is @steemit and its Facebook page is accessible here .
According to CryptoCompare, “Steem.it is a blockchain-based social media platform where anyone can earn rewards by posting relevant content, curating quality content by upvoting and by holding Steem based currencies in a vest fund, which generates interest. There are three main currencies in Steemit: Steem, Steem Power (SP) and Steem Backed Dollars (SBD). Steem is liquid and can be bought in an exchange and converted into steem dollars or steem power.
Steem Power is basically Steem that is locked in a vesting fund for 3 months. Users can use steem power to upvote content and get curating rewards. When a user upvotes content his steem power gets depleted and then slowly regenerated. Steem Power holders recieve interest from their holdings. The more Steem Power a voter has the more revenue he’ll generate for himself (in form of SP) and for the content creator (In SBD). There is also an incentive to upvote content early, as the rewards are distributed according to time.
The earliest votes gets the biggest share of the reward. Steem Backed Dollars are there to protect content creators from volatitlity and can be traded for roughly 1 usd worth of steem, in order to cash out from steem.
Converting Steem backed dollars into STEEM takes 5 days. Users also recieve interest from holding SBD. T Steem is a proof of work currency with a scheduled blocktime of 3 seconds. Steem PoW mining is done in rounds of 63 seconds by 21 miners (witnesses). 19 of the miners are pre voted, one is the other with the most computational power, and the last one is selected from a queue of witnesses that did not get on the top 19 voted witnesses. 90% of the block reward is allocated to a vest fund to reward curators and PoW miners, the other 10% are made liquid in the form of steem and are used to reward content creators. Steem gets converted to Steem Backed Dollars and sent to the content creator. “
Buying and Selling Steem
Steem can be traded on these cryptocurrency exchanges: Poloniex, OpenLedger DEX, Upbit, HitBTC and Bittrex.
It is not presently possible to buy Steem directly using US dollars. Investors seeking to acquire Steem must first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the exchanges listed above. Steem Steem .
