What is the Crypto currency Steem? Thorough explanation of the future and future exchanges and how to buy!

table of contents

  1. What is the Crypto currency Steem?
  2. Features of Steem
    • Steem
    • Steem Power (SP)
    • Steem Dollars (SMD)
  3. Future potential of Steem, future price
    • Measures against inflation are introduced
    • There is a mechanism to have it held for a long time
    • Highly rated by Weiss Rating
  4. Recommended exchanges for purchasing Steem
    • Binance
  5. How to buy Steem

What is the Crypto currency Steem?

Steem is a cryptocurrency designed for use within the Steemit.com website. In Steemit, users can get Steem as a reward when they write an article and get good comments and comments.

On the contrary, Steem is distributed to readers who like or comment, and anyone who contributes to the community can receive a reward.

This Steemit is also the basis of the project called ALIS and the concept of the tokens that accompany it, and it has a great influence in the world. ALIS also posts articles and the system is such that tokens are distributed according to the number of likes earned.

Steemit was founded by two people, Ned Scott and Dan Larimer, who graduated from prestigious American universities. Steem was released in 2016, but in July of the same year, the price of tokens soared with the first posting, voting and reward payment.

With this as a trigger, Steemit will acquire the number of users. However, on July 14, the same year, someone hacked Steem, and a token worth $ 85,000 was damaged.

Now, the days have passed since the incident, and the price transition has become stable. At the time of writing the article, it has been around 90 yen per Steem, and it is ranked 38th in the market capitalization ranking.

Features of Steem

I mentioned earlier that Steem is used on the Steemit.com website, but there are actually three currencies: Steem, Steem Power (SP), and Steem Dollars (SMD).

Steem

The first is Steem, which is the main currency on the site and is compatible with SP and SMD respectively, and has the following characteristics.・ You can buy and sell at the exchange・It is 9.5% newly issued in one year, and if it is kept as it is, the value will decrease, so in order to maintain the value, it is necessary to convert it to SP or SBD.

Steem Power (SP)

Steem Power is a currency that gives 50% as an incentive when posting to Steemit.com, and has the following features. (The remaining 50% is granted by SMD)・Interest is paid according to the amount of SP held, so the more you have, the more profitable you will be.・ The exchange from Steem to SP can be done immediately, but in the opposite case, only one-thirteenth of the holding amount can be exchanged once a week (so that the supply amount of Steem does not increase suddenly). To make it)

Steem Dollars (SMD)

Like SP, Steem Dollars is a currency given as an incentive and has the following features.・It is a currency that is always fixed at 1SMD = 1USD, and the price does not fluctuate like stablecoin.・ Similar to SP, it is given as an incentive for posting, etc., and interest is accrued according to the amount held.・Unlike SP, there is no limit to the exchange to Steem, and you can do it all at once.・ The difference from SP is “price fluctuation” and “presence or absence of exchange restrictions”.

Future potential of Steem, future price

Measures against inflation are introduced

There is no limit to the number of Steems that can be issued, and the amount will increase by 9.5% each year. For example, if 1,000 copies were issued in the first year, it will increase to 1,095 copies in the next year.

Therefore, if you continue to have Steem, the relative value will decline, and the problem of inflation has been pointed out. However, Steem has introduced measures to reduce the new issuance rate from the previous 100% to 9.5% in 2016, and to reduce the new issuance rate based on the following rules.(1) The new issue rate decreases by 0.5% every year(2) 0.01% decrease for every 250,000 blocks issued(3) Eventually, the new issue rate will drop significantly to 0.95%.

There is a mechanism to have it held for a long time

The value of Steem that can be bought and sold on the exchange is reduced by new issuance, and by accruing interest on Steem Power that can not be exchanged for other currencies on the exchange, it becomes a mechanism to have long-term holding. I am.

In addition, half of the incentives are set to take time to exchange for liquid Steem, which is a mechanism to encourage long-term holding.

Highly rated by Weiss Rating

Steem was rated B- by the major American rating agency Weiss Rating, and became a hot topic as a currency that received high praise along with Ethereum.

In the rating comment, “there are good characteristics in SNS characteristics and most other items”. For those who want to know more about the rating, [ Cryptocurrency rating announced! Ethereum Steem gets high praise! ] Please refer to.

Recommended exchanges for purchasing Steem

Steem cannot be purchased on domestic exchanges, so you will need to use an overseas exchange to purchase it.

Binance

binance

Steem can be purchased at Binance , one of the largest exchanges in the world . Binance has a large transaction volume of Steem, and it is possible to purchase it at a low commission of 0.1%.

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