Steem (CURRENCY:STEEM) traded 6% higher against the U.S. dollar during the 24-hour period ending at 17:00 PM ET on February 6th. One Steem coin can now be bought for $3.
55 or 0.
00046753 BTC on popular cryptocurrency exchanges including OpenLedger DEX, HitBTC, Upbit and Bittrex.
Steem has a market capitalization of $885.08 million and approximately $76.21 million worth of Steem was traded on exchanges in the last 24 hours. During the last seven days, Steem has traded down 26.
9% against the U.S. dollar.
Here is how similar cryptocurrencies have performed during the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded up 6.3% against the dollar and now trades at $7,557.
45 or 1. BTC. Bitcoin Cash (BCH) traded up 2.
4% against the dollar and now trades at $941.41 or 0.
12381900 BTC.
PACcoin (PAC) traded 25.7% higher against the dollar and now trades at $0.0000 or 0. BTC.
Counterparty (XCP) traded up 18.9% against the dollar and now trades at $27.25 or 0.
00358713 BTC. Crown (CRW) traded up 17.6% against the dollar and now trades at $2.22 or 0.
00029159 BTC. Namecoin (NMC) traded up 8.8% against the dollar and now trades at $2.31 or 0.
00030355 BTC. Unobtanium (UNO) traded down 4.7% against the dollar and now trades at $121.83 or 0.01602350 BTC. ATBCoin (ATB) traded up 14.
3% against the dollar and now trades at $0.36 or 0.00004780 BTC. CHIPS (CHIPS) traded up 17.5% against the dollar and now trades at $0.28 or 0.
00003682 BTC. Terracoin (TRC) traded 0.
4% lower against the dollar and now trades at $0.18 or 0.00002359 BTC.
About Steem Steem is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Its genesis date was July 4th, 2015.
Steem’s total supply is 265,962,127 coins and its circulating supply is 248,988,033 coins.
The official website for Steem is steem.io . The official message board for Steem is steemit.com/@steemitblog .
The Reddit community for Steem is /r/steemit and the currency’s Github account can be viewed here . 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. “
Steem Coin Trading
Steem can be purchased on the following cryptocurrency exchanges: Bittrex, Poloniex, OpenLedger DEX, Upbit and HitBTC. It is not currently possible to buy Steem directly using U.S.
dollars. Investors seeking to acquire Steem must first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the aforementioned exchanges. Receive News & Updates for Steem Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for Steem and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter .
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