Steem (STEEM) Price Hits $4.26 on Exchanges Posted by Dante Gardener | Feb 10th, 2018
Steem (CURRENCY:STEEM) traded up 0.3% against the dollar during the twenty-four hour period ending at 14:00 PM Eastern on January 26th. One Steem coin can now be purchased for $4.
26 or 0.00051258 BTC on major exchanges including HitBTC, Bittrex, Poloniex and OpenLedger DEX. Steem has a market capitalization of $1.06 billion and $119.
59 million worth of Steem was traded on exchanges in the last day. During the last seven days, Steem has traded down 2.8% against the dollar.
Here’s how similar cryptocurrencies have performed during the last day: Get Steem alerts: Bitcoin (BTC) traded down 3.1% against the dollar and now trades at $8,395.54 or 1.
BTC. Bitcoin Cash (BCH) traded 6.
4% lower against the dollar and now trades at $1,222.52 or 0.
14718900 BTC. PACcoin (PAC) traded up 11% against the dollar and now trades at $0.0000 or 0. BTC. Counterparty (XCP) traded down 5.2% against the dollar and now trades at $28.
25 or 0.00340067 BTC. Crown (CRW) traded up 4.9% against the dollar and now trades at $2.57 or 0.00030735 BTC. Namecoin (NMC) traded 0% lower against the dollar and now trades at $2.50 or 0.
00029924 BTC. Unobtanium (UNO) traded down 0.4% against the dollar and now trades at $136.25 or 0.01630460 BTC. ATBCoin (ATB) traded flat against the dollar and now trades at $0.39 or 0.00004662 BTC.
CHIPS (CHIPS) traded 13.9% lower against the dollar and now trades at $0.31 or 0.00003736 BTC. Terracoin (TRC) traded up 2.
7% against the dollar and now trades at $0.20 or 0.00002363 BTC.
Steem Coin Profile
Steem (CURRENCY: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 266,128,249 coins and its circulating supply is 249,154,155 coins. Steem’s official website 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 traded on these cryptocurrency exchanges: OpenLedger DEX, Upbit, HitBTC, Bittrex and Poloniex. It is not presently possible to buy Steem directly using US dollars.
Investors seeking to trade Steem must first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem using one of the exchanges listed above.
Receive News & Ratings for Steem analysts’ ratings for Steem and related companies daily email newsletter . «.
