Posted by Nicole Wilson on Feb 26th, 2018 // No Comments
Steem (CURRENCY:STEEM) traded 4.3% higher against the U.S. dollar during the 1 day period ending at 10:00 AM Eastern on February 3rd. One Steem coin can now be purchased for $3.52 or 0.00034450 BTC on popular cryptocurrency exchanges including Bittrex, OpenLedger DEX, Upbit and Poloniex. Steem has a market capitalization of $881.
78 million and $5.12 million worth of Steem was traded on exchanges in the last 24 hours. Over the last seven days, Steem has traded 20% lower against the U.S. dollar.
Here is how similar cryptocurrencies have performed over the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded up 7.9% against the dollar and now trades at $10,274.80 or 1.
BTC. Bitcoin Cash (BCH) traded 7.7% higher against the dollar and now trades at $1,246.58 or 0.
12205600 BTC. PACcoin (PAC) traded down 0.4% against the dollar and now trades at $0.0000 or 0. BTC.
Counterparty (XCP) traded 4.8% higher against the dollar and now trades at $22.94 or 0.00224563 BTC. Crown (CRW) traded 2.1% higher against the dollar and now trades at $2.32 or 0.
00022719 BTC. Namecoin (NMC) traded 5.1% higher against the dollar and now trades at $2.66 or 0.00026091 BTC. Unobtanium (UNO) traded up 2.2% against the dollar and now trades at $143.34 or 0.
01403510 BTC. ATBCoin (ATB) traded down 0.6% against the dollar and now trades at $0.41 or 0.00003981 BTC. CHIPS (CHIPS) traded up 7.5% against the dollar and now trades at $0.40 or 0.
00003884 BTC. Terracoin (TRC) traded 13.
8% higher against the dollar and now trades at $0.22 or 0.00002140 BTC.
Steem Coin Profile
Steem is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm.
Its launch date was July 4th, 2015. Steem’s total supply is 267,588,133 coins and its circulating supply is 250,614,039 coins.
The official message board for Steem is steemit.com/@steemitblog . Steem’s official Twitter account is @steemit and its Facebook page is accessible here . 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 .
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 these cryptocurrency exchanges: HitBTC, Bittrex, OpenLedger DEX, Poloniex and Upbit. It is not currently possible to buy Steem directly using U.S. dollars.
Investors seeking to trade Steem must first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Changelly.
Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the exchanges listed above. Steem Steem .
