One Steem (STEEM) is currently worth $ on major cryptocurrency exchanges. You can also exchange one Steem for bitcoin(s) on major exchanges. The value (or market capitalization) of all available Steem in U.S. dollars is $ million. Take your trading to the next level Start free trial. STEEMUSDT Steem / Tether USD. %: K: Sell: HUOBI. About Steem. Steem price today is $ USD with a hour trading volume of $2,, USD. Steem is down % in the last 24 hours. The current CoinMarketCap ranking is #, with a market cap of $65,, USD. It has a circulating supply of ,, STEEM coins and the .
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Steem Power provides users with more influence on the Steemit platform such as being able to provide higher rewards to other users and to claim higher rewards for curation. Steem Power also provides holders with a stake in the Steem reward pool. Gaining more Steem Power thus means that a user can generate more income on the platform. Steemit is a well thought out social media platform that encourages investment, user engagement, and a degree of price stability through its three currency-based Steemit economies.
Steem Power also reduces the amount of Steem that leaves the platform to be traded on exchanges as Steem is needed to gain Steem Power. That way, the tradable supply is limited. With its intelligently set up digital economy and its value-adding feature of rewarding users financially in the form of cryptocurrency for their contribution, Steemit has managed to establish itself as the first-of-its-kind get-paid-to-use social media and blogging platform.
Bitcoin and Steem are both decentralized cryptocurrencies that can be used to make digital peer-to-peer payments and to securely store wealth in an electronic manner. Both can also be traded for fiat currency. However, that is where their similarities end. It acts as a digital gold-like store of wealth with a limited coin supply that is being met with increasing demand. This is why it has become increasingly expensive to buy bitcoin over the years. Furthermore, new bitcoin can be mined by contributing processing power to the bitcoin network to verify and process transactions.
Steem, on the other hand, is effectively given away for free to those who contribute content and engage with the community on the Steemit platform. Hence, the value of Steem is largely driven by the growth and success of the Steemit platform.
Also, on a technical level, Steem transactions are faster and cheaper than bitcoin transactions, which would suggest that Steem is the superior peer-to-peer payment currency. However, as there is effectively no Steem merchant adoption and very few ways to cash Steem out into fiat currency, bitcoin is still the far superior currency for real-world use, despite its comparatively high fees and slow transactions.
The success of Steem is heavily tied to the success of the Steemit platform. If Steemit manages to retain its market-leading position as a get-paid-to-post content publication platform and social network, then the value of its cryptocurrency has the potential to increase by a multiple of what it is worth now. Steem can also be used on a select few other applications such as Steepshot , Busy and the Esteem app. Should more social media platforms adopt Steem as a reward currency, then the value of the digital currency would also greatly benefit.
However, since its launch in , less than five platforms have adopted the digital currency. If anything, it is more likely that social media platforms will create their own digital tokens instead of adopting Steem. If you believe in the future of the Steemit as a content publication and social media platform, then adding some Steem into your crypto asset portfolio makes sense. News and features Capital. Professional clients Institutional Economic calendar. Learn to trade.
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At its core, Steem is a content-driven social network based on the Steem blockchain. The network runs another two tokens — Steem power SP and Steem dollars.