Steem (CURRENCY:STEEM) traded down 11% against the dollar during the one day period ending at 16:00 PM ET on February 21st. Steem has a market cap of $961.11 million and $11.98 million worth of Steem was traded on exchanges in the last day. One Steem coin can currently be purchased for about $3.85 or 0.00036914 BTC on popular exchanges including OpenLedger DEX, Bittrex, Upbit and HitBTC. Over the last seven days, Steem has traded down 12.
4% against the dollar.
Here’s how other cryptocurrencies have performed over the last day: Get Steem alerts: Bitcoin (BTC) traded 10.5% lower against the dollar and now trades at $10,589.10 or 1.
BTC. Bitcoin Cash (BCH) traded 11.7% lower against the dollar and now trades at $1,327.
63 or 0.12735900 BTC. PACcoin (PAC) traded down 12.3% against the dollar and now trades at $0.0000 or 0. BTC.
Counterparty (XCP) traded 13.2% lower against the dollar and now trades at $26.32 or 0.
00252439 BTC. Crown (CRW) traded 17.4% lower against the dollar and now trades at $2.52 or 0.
00024133 BTC. Namecoin (NMC) traded 12.8% lower against the dollar and now trades at $2.73 or 0.
00026205 BTC. Unobtanium (UNO) traded down 2.5% against the dollar and now trades at $153.
38 or 0.
01471320 BTC. ATBCoin (ATB) traded 4.5% lower against the dollar and now trades at $0.59 or 0.
00005666 BTC. CHIPS (CHIPS) traded down 21.
6% against the dollar and now trades at $0.38 or 0.00003623 BTC. Terracoin (TRC) traded 3.4% lower against the dollar and now trades at $0.23 or 0.00002197 BTC.
Steem Coin Profile 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 266,740,462 coins and its circulating supply is 249,766,368 coins.
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 . Steem’s official website is steem.
io . 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. “
Buying and Selling Steem
Steem can be traded on the following cryptocurrency exchanges: Poloniex, HitBTC, Bittrex, Upbit and OpenLedger DEX.
It is not presently possible to purchase Steem directly using US dollars. Investors seeking to trade Steem must first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem using one of the exchanges listed above. Receive News & Updates for Steem updates for Steem and related cryptocurrencies CryptoBeat newsletter . «.
