STEEM cryptocurrency is an internal payment instrument of the Steem blockchain platform, which is a kind of social network. Within this platform, users will be able not only to communicate with each other, but also to conduct financial transactions using the digital coin Steem. At the same time, the level of earnings of crypto network participants will directly depend on the quality of the generated information content.
STEEMUSD chart courtesy of TradingView
Taking into account the specifics of this project, as well as its capabilities, it will be necessary to familiarize yourself with how to mine STEEM on Nvidia and whether it is possible to mine this coin using the Steem mining pool.
STEEMUSD chart courtesy of TradingView
A little history
The parent platform of the STEEM token, called Steemit, is a social network based on blockchain technology, which allows participants on this platform to earn income through generating content. Payment of rewards to users is carried out by the crypto network in the format of the Steam crypto coin. Users can publish various informational posts on their personal pages, as well as upload media materials. For such actions, Steem coins will be credited to user accounts. At the same time, the number of coins awarded directly depends on the quality of publications, which is determined based on the level of interest in this information on the part of other participants in the crypto network, who simultaneously act as content consumers.
The digital coin Steem appeared in 2016. Ned Scott and Daniel Larimer mainly worked on its creation. Larimer at one time was directly involved in the creation of another popular crypto project, Bitshares, which was included in the TOP 50 largest crypto platforms by capitalization level.
As for the Steem project specifically, its capitalization has reached $150 million, which is a good result for such a young crypto coin.
If you believe the promises of the project’s authors, then in the near future we should expect the introduction of new functions aimed at increasing security indicators and the speed of financial transactions between users. In addition, there is a possibility of introducing the possibility of mining coins through cryptocurrency pools, which will increase the efficiency of crypto mining of this asset.
Where can I buy
You can buy Steem token on the largest exchange platforms Bittrex and Poloniex. Although it should be noted that the cryptocurrency in question is also popular on other exchange platforms. At the same time, you can get the Steam cryptocurrency in exchange for Bitcoin and Ethereum, but buying coins in exchange for different fiat currencies is more difficult. There are exchanges that offer this, but you need to take into account that the volume of transactions on these sites is very small.
There are several ways to buy coins:
- Firstly, by using the services of one of the cryptocurrency exchanges;
- Secondly, engage in mining. More precisely, post content on a social network or vote by leaving comments. You will receive coin Steem as a reward. The more active you are on a social network, the more money you will receive;
- Thirdly, use exchange services. Everything here is generally bad. The fact is that this cryptocurrency is rarely used in exchangers, so exchanging it in a standard way will be a problem.
In the end, all that remains is to make a choice in favor of the exchange. Moreover, there are enough platforms that work in this direction:
| # | EXCHANGE | PAIR | WELL | VOLUME IN 24 HOURS | VOLUME, % |
| 1 | Upbit | STEEM/KRW | $3,92 4220 KRW | $4 270 737 | 33,22 % |
| 2 | Binance | STEEM/BTC | $3,85 0.0004211 BTC | $2 935 351 | 22,83 % |
| 3 | Huobi | STEEM/USDT | $3,83 3.8645 USDT | $1 772 231 | 13,79 % |
| 4 | Upbit | STEEM/BTC | $3,84 0.00041979 BTC | $942 599 | 7,33 % |
| 5 | Bittrex | STEEM/BTC | $3,84 0.0004198 BTC | $936 377 | 7,28 % |
| 6 | Huobi | STEEM/BTC | $3,82 0.00041776 BTC | $729 941 | 5,68 % |
| 7 | Binance | STEEM/ETH | $3,85 0.005416 ETH | $507 538 | 3,95 % |
| 8 | Huobi | STEEM/ETH | $3,82 0.005381 ETH | $347 645 | 2,7 % |
| 9 | Poloniex | STEEM/BTC | $3,53 0.0003858 BTC | $219 684 | 1,71 % |
| 10 | Binance | STEEM/BNB | $3,86 0.27279 BNB | $128 781 | 1,0 % |
You can store coins on Steem wallet. This is the internal wallet of the site. We'll talk about it below.
Features and Specifications
Taking a closer look at the Steem platform, one cannot ignore the main features inherent in this project. Despite the positioning of the site as a social network, Steam still has a number of fundamental differences from traditional social networks.
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