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Steem (CURRENCY:STEEM) traded down 6.7% against the US dollar during the 1 day period ending at 15:00 PM Eastern on March 6th. One Steem coin can now be purchased for approximately $3.26 or 0.00030421 BTC on major cryptocurrency exchanges including Upbit, Poloniex, HitBTC and Bittrex. In the last seven days, Steem has traded 6.9% lower against the US dollar.
Steem has a total market cap of $817.69 million and approximately $4.50 million worth of Steem was traded on exchanges in the last 24 hours.
Here is how similar cryptocurrencies have performed in the last 24 hours: Get Steem alerts: Bitcoin (BTC) traded 7.7% lower against the dollar and now trades at $10,751.20 or 1. BTC. Bitcoin Cash (BCH) traded down 7.
1% against the dollar and now trades at $1,188.70 or 0.11102500 BTC. PACcoin (PAC) traded flat against the dollar and now trades at $0.0000 or 0. BTC.
Counterparty (XCP) traded 8.5% lower against the dollar and now trades at $20.44 or 0.
00190891 BTC. Crown (CRW) traded 7.4% lower against the dollar and now trades at $2.54 or 0.00023743 BTC. Unobtanium (UNO) traded 3% lower against the dollar and now trades at $171.
58 or 0.01602570 BTC. Namecoin (NMC) traded down 19.7% against the dollar and now trades at $2.14 or 0.
00020008 BTC. ATBCoin (ATB) traded 10.5% lower against the dollar and now trades at $0.33 or 0.00003087 BTC.
CHIPS (CHIPS) traded 9.6% lower against the dollar and now trades at $0.
43 or 0.00004014 BTC.
Terracoin (TRC) traded down 4.4% against the dollar and now trades at $0.17 or 0.00001629 BTC.
Steem Coin 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 268,026,710 coins and its circulating supply is 251,052,616 coins. Steem’s official website is steem.
io . 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 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. “
Buying and Selling Steem
Steem can be bought or sold on the following cryptocurrency exchanges: Poloniex, HitBTC, Bittrex, OpenLedger DEX and Upbit.
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 Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Steem using one of the aforementioned exchanges.
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