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Steem (CURRENCY:STEEM) traded 0.5% lower against the US dollar during the twenty-four hour period ending at 18:00 PM ET on January 27th. In the last seven days, Steem has traded up 10.4% against the US dollar. One Steem coin can now be purchased for $6.06 or 0.
00053189 BTC on major exchanges including Upbit, Poloniex, OpenLedger DEX and HitBTC. Steem has a market capitalization of $1.
50 billion and approximately $83.73 million worth of Steem was traded on exchanges in the last 24 hours.
Here is how related cryptocurrencies have performed in the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded up 4.6% against the dollar and now trades at $11,504.
50 or 1. BTC. Bitcoin Cash (BCH) traded 3.7% higher against the dollar and now trades at $1,637.
21 or 0.14372900 BTC. PACcoin (PAC) traded up 9.7% against the dollar and now trades at $0.0001 or 0.
1 BTC. Counterparty (XCP) traded 12.4% higher against the dollar and now trades at $56.64 or 0.00497242 BTC. Crown (CRW) traded 2.3% higher against the dollar and now trades at $3.
76 or 0.00032861 BTC. Namecoin (NMC) traded up 3.7% against the dollar and now trades at $3.92 or 0.00034243 BTC. Unobtanium (UNO) traded 4.
1% higher against the dollar and now trades at $135.
92 or 0.01186960 BTC. ATBCoin (ATB) traded up 1.7% against the dollar and now trades at $0.
59 or 0.00005160 BTC.
CHIPS (CHIPS) traded 9.1% lower against the dollar and now trades at $0.39 or 0.00003399 BTC. Terracoin (TRC) traded 3.8% lower against the dollar and now trades at $0.
29 or 0.00002585 BTC.
Steem Profile
Steem (CURRENCY: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 264,487,279 coins and its circulating supply is 247,513,185 coins. 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 . Steem’s official message board is steemit.com/@steemitblog .
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.
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Buying and Selling Steem
Steem can be traded on the following cryptocurrency exchanges: OpenLedger DEX, Bittrex, Poloniex, HitBTC and Upbit. It is not currently possible to purchase Steem directly using U.S. dollars. Investors seeking to trade Steem must first purchase 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 purchase Steem using one of the aforementioned exchanges.
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