What is Steem (STEEM)?
Steem is a social media network built on top of the Steem blockchain mechanism and where people earn money (STEEM tokens) for posting, sharing, curating and commenting contents. STEEM can be exchanged for bitcoin or other cryptocurrencies through several prominent exchanges. The Steem is mainly classified into STEEM and Steem Dollars which are fully trade-able tokens.
Steem (STEEM): History
In March 2016 the idea of Steem was discussed in a whitepaper which was updated in August 2017. Later, Ned Scott and Dan Larimer (creator of BitShares) founded the company.The general concept was similar to other blogging websites like Reddit, but the text content is saved in a blockchain. The steem was started with a high inflationary supply model with 100% growth every year. In 2016 the inflation was brought down to 9.5% per annum. In March 2017 Dan Larimer has resigned from the company, and new marketing team was announced.
How Steem (STEEM) Works?
Steem (STEEM) is having two different tokens, both the tokens are against STEEM, the base token for the network. In some ways, Steem is similar to other digital currencies. Steem Dollars are STEEM tokens which can be converted to Fiat currencies and also can use for payments and transactions. The network also has the internal conversion exchange where Steem can be used to purchase Steem Dollars and vice versa. This process takes 3.5 days. The Steem is offering 75% of the reward to the authors and 25% of the reward to the curators and also a wallet where the users can store their Steem Dollars.
How to Buy Steem (STEEM)?
Before you are going to buy Steem (STEEM), you should have a secure wallet. There is no way to buy Steem directly with a credit card, debit card, or bank account on any US Exchange. The cheapest way to obtain Steem (STEEM) is to first purchase Litecoin or Bitcoin through Coinbase. Coinbase is currently available in United States, Canada, Europe, UK, Singapore, and Australia.
Steem (STEEM)Price Prediction 2018
Steem price equal to 4.269 USD at 2018-02-14. If you buy Steem for 100 dollars today, you will get a total of 23.425 STEEM. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-10 is 13.265 US Dollars. Steem (STEEM) price today is $4.26 and have the current supply of249,376,389 STEEM. The market cap value is$1,063,128,954, and the volume is marked as $21,520,000. Steem price prediction, Steem price forecast, Steem price and news, STEEM price forecast, STEEM price prediction 2018, What is the price of Steem 2018.