Buy Steem
What is Steem?
Steem is a blockchain-based social media platform designed to reward users with cryptocurrency for creating and curating content. It aims to incentivize the online community by providing a platform where users can post curated content online and get paid in cryptocurrency.
How does Steem work?
Steem operates on a blockchain powered by the Delegated Proof-of-Stake (DPoS) consensus protocol, which is fast and fee-free. The platform processes transactions within three seconds and is designed for scalability, making it suitable for social applications. Users earn STEEM through a reward system that values their content creation and curation efforts. STEEM can also be staked into Steem Power (SP), which enhances user influence on the platform.
What are the potential use cases for Steem?
Steem has several potential use cases, including but not limited to:
- Social Media Platforms: Platforms like Steemit, DTube, and Utopian allow users to create and curate content while earning cryptocurrency rewards.
- Decentralised Applications (DApps): Steem supports various DApps aimed at blogging, community forums, and other social interactions.
- Real-World Applications: It offers applications like escrow services and supports the creation of Non-Fungible Tokens (NFTs) on its blockchain.
- Content Creation and Entrepreneurship: It enables direct monetization for content creators and entrepreneurs, establishing a practical framework for launching social media projects.
What is the history of Steem?
Steem was co-founded in January 2016 by Ned Scott and Dan Larimer. By March, the Steem blockchain was launched, and the whitepaper was published. The platform issued its first rewards in July 2016, which led to a significant price surge. Over the years, it faced challenges, including financial difficulties during the cryptocurrency crash in 2018 and staff layoffs. In 2020, Steem underwent a successful fork, resulting in the creation of the HIVE blockchain, which introduced new features and improvements to the original Steem blockchain.
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Frequently Asked Questions (FAQs)
What is the current price of Steem (STEEM)?
The Steem price is $0.33659175 AUD, representing a -5.85% from the day prior.
Where is the best place to buy Steem (STEEM) in Australia?
The best place to buy Steem (STEEM) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Steem (STEEM) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Steem (STEEM)?
The trading volume of Steem (STEEM) is $43.3M AUD in the last 24hrs, representing a -5.85% from the day prior.
How can I buy Steem (STEEM)?
Steem (STEEM) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Steem (STEEM)?
The current market cap of Steem (STEEM) is $160.7M AUD.
Can I convert Steem (STEEM) to cash?
Yes - With Coinstash you can convert your Steem (STEEM) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Steem (STEEM) are there?
The current circulating supply of Steem (STEEM) is 479.4M.
Is Coinstash a safe place to buy Steem (STEEM) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Steem (STEEM) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.