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Steem (CURRENCY:STEEM) traded down 0.8% against the US dollar during the 1-day period ending at 13:00 PM E.T. on March 5th. One Steem coin can now be purchased for approximately $3.50 or 0.
00030372 BTC on popular exchanges including HitBTC, OpenLedger DEX, Poloniex and Bittrex.
Steem has a total market capitalization of $878.
77 million and $7.21 million worth of Steem was traded on exchanges in the last day. During the last week, Steem has traded 1.3% lower against the US dollar.
Here is how related cryptocurrencies have performed during the last day: Get Steem alerts: Bitcoin (BTC) traded up 2.3% against the dollar and now trades at $11,552.
90 or 1. BTC. Bitcoin Cash (BCH) traded up 1% against the dollar and now trades at $1,272.11 or 0.
11034800 BTC. PACcoin (PAC) traded flat against the dollar and now trades at $0.
0000 or 0. BTC. Counterparty (XCP) traded down 1.9% against the dollar and now trades at $21.
96 or 0.00190494 BTC. Crown (CRW) traded 0.4% higher against the dollar and now trades at $2.70 or 0.00023433 BTC.
Namecoin (NMC) traded 1.1% higher against the dollar and now trades at $2.67 or 0.00023199 BTC. Unobtanium (UNO) traded up 2.3% against the dollar and now trades at $173.
03 or 0.01500900 BTC. ATBCoin (ATB) traded 1.7% higher against the dollar and now trades at $0.
37 or 0.00003196 BTC.
CHIPS (CHIPS) traded down 24.5% against the dollar and now trades at $0.
48 or 0.00004204 BTC. Terracoin (TRC) traded up 0.6% against the dollar and now trades at $0.18 or 0.
00001567 BTC.
About Steem Steem (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 267,959,480 coins and its circulating supply is 250,985,386 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. “
Buying and Selling Steem
Steem can be purchased on the following cryptocurrency exchanges: Poloniex, OpenLedger DEX, Upbit, Bittrex and HitBTC. It is not possible to buy Steem directly using US dollars.
Investors seeking to trade Steem must first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the aforementioned exchanges. Receive News & Updates for Steem updates for Steem and related cryptocurrencies CryptoBeat newsletter ..
