Question 1

What is the Current Price of Steem (STEEM)?

Accepted Answer

As of today, the price of Steem (STEEM) is £ 0.38039529, showing a -2.18% change in the last 24 hours. Steem has a market cap of £ 209.5M, ranking it at number #747 among all cryptocurrencies.

Question 2

What Exactly is Steem (STEEM)?

Accepted Answer

Steem (STEEM) is a unique cryptocurrency that rewards users for community building by posting and upvoting valuable content for others. This concept was inspired by the success of Reddit, where a thriving community enriches its shareholders. Unlike many other platforms, Steem aims to distribute the rewards to the community members who contribute to creating the content and community in the first place. The main platform incorporating Steem's blockchain is called Steemit. It functions much like commonly known content-driven social networks, such as Reddit and Medium, with the major difference being the direct rewarding of users with cryptocurrency for their participation.

Question 3

Who Are the Founders of Steem?

Accepted Answer

Steem was created by the founders of BitShares, with involvement from blockchain pioneer, Dan Larimer. The mission of the founding team was to create a blockchain-based currency that would incentivize and reward users who contribute and curate valuable content, encouraging positive community development and interaction.

Question 4

How Does Steem Work?

Accepted Answer

Steemit, built on top of the Steem blockchain, operates as a social media network where users can earn by contributing content. Votes on this platform create a hierarchy of content—the more upvotes a post gets, the more it earns. The platform also incorporates downvotes, providing users with more involvement and flexibility in content rating. The Steem blockchain is meritocratic, meaning users who hold more Steem currency have votes with greater influence, thereby encouraging users to participate actively and frequently.

Question 5

What Makes Steem Unique?

Accepted Answer

One of the major aspects setting Steem apart is its lucrative approach towards content creation and curation. Steem distributes rewards to users who help create and grow the platform, rather than simply enriching the platform's shareholders. Moreover, Steem's principle platform, Steemit, incorporates upvoting and downvoting, creating a decentralized and democratic method of evaluating and rewarding valuable content.

Question 6

How Much Steem is in Circulation?

Accepted Answer

Steemit currently has a circulation supply approximately 550.8M STEEM. The total supply of STEEM is 550.8M.

Question 7

Can I Earn Money with Steem?

Accepted Answer

Yes, Steemit users can earn money by posting, voting, and curating valuable content on the platform. The more upvotes a post receives, the higher the payoff.

Question 8

Where Can You Buy Steem (STEEM)?

Accepted Answer

Steem (STEEM) can be purchased on Binance, Huobi, Gate.io, DigiFinex. It's important to conduct due diligence before any purchase and choose a reputable exchange.

Question 9

How Can I Safeguard My Steem Investment?

Accepted Answer

Like any cryptocurrency, the security of Steem relies heavily on individual precautions. It's important to secure your private keys properly and consider thorough security measures such as using hardware wallets, enabling 2-Factor Authentication (2FA), and regularly updating your wallet software.

Convert STEEM to GBP

Try our Crypto Pro app