Steem (CURRENCY:STEEM) traded 1.2% lower against the U.S. dollar during the 24-hour period ending at 22:00 PM ET on January 25th. One Steem coin can currently be purchased for $6.
53 or 0.00056454 BTC on cryptocurrency exchanges including Bittrex, HitBTC, OpenLedger DEX and Upbit. Over the last seven days, Steem has traded 49.
5% higher against the U.S. dollar. Steem has a total market cap of $1.
62 billion and $248.27 million worth of Steem was traded on exchanges in the last 24 hours.
Here’s how similar cryptocurrencies have performed over the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded down 0.1% against the dollar and now trades at $11,592.
10 or 1. BTC.
Bitcoin Cash (BCH) traded down 1% against the dollar and now trades at $1,672.35 or 0.14467800 BTC. PACcoin (PAC) traded 10.5% lower against the dollar and now trades at $0.0001 or 0.
1 BTC.
Counterparty (XCP) traded down 4.5% against the dollar and now trades at $58.01 or 0.
00501893 BTC. Crown (CRW) traded down 0.
9% against the dollar and now trades at $3.73 or 0.00032269 BTC. Namecoin (NMC) traded down 4.8% against the dollar and now trades at $3.
90 or 0.00033728 BTC. ATBCoin (ATB) traded 8.1% higher against the dollar and now trades at $0.71 or 0.
00006182 BTC. Unobtanium (UNO) traded down 0.
5% against the dollar and now trades at $137.07 or 0.01185840 BTC. CHIPS (CHIPS) traded 0.5% higher against the dollar and now trades at $0.47 or 0.
00004106 BTC. Terracoin (TRC) traded 3.1% lower against the dollar and now trades at $0.33 or 0.00002818 BTC.
About Steem Steem is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It was first traded on July 4th, 2015. Steem’s total supply is 264,815,584 coins and its circulating supply is 247,841,490 coins.
The official website for Steem is steem.io . Steem’s official Twitter account is @steemit and its Facebook page is accessible here . 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 .
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 bought or sold on the following cryptocurrency exchanges: HitBTC, Bittrex, Upbit, OpenLedger DEX and Poloniex. It is not possible to purchase Steem directly using U.S.
dollars. Investors seeking to trade Steem must first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Changelly.
Investors can then use their newly-acquired Bitcoin or Ethereum to purchase 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 . «.
