Steem is a blockchain database
This steemit media blog supports community and social interaction in return for cryptocurrency. Steem combines the concepts of social media with the lessons of building cryptocurrencies for the easy-to-coin community. An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects the contribution of each person. Steem is the first cryptocurrency to attempt to accurately and transparently reward the infinite number of individuals who contribute socially to the community.
Steem is the basic unit of account on blockchain Steem.
All other tokens derive the value of Steem, in general Steem must be owned for a short period of time when liquidity is required. Someone who wants to enter or exit the Steem platform will have to buy or sell Steem. Once the Steem has been purchased it must be converted to SP Steem Power on steemit account or SMD (Steam Dollars) to reduce the impact of longer term retailing for those who want to get a free token.
Steem Dollars are designed to bring stability to the world of cryptocurrency and individuals using Steemit accounts, Steem Dollars are created by mechanisms similar to the conversion records, which are often used to fund their posts. Conversion records are short-term debt instruments that can be converted to Ownership at a predetermined rate in the future, usually during future funding rounds.
For those of you who do not know how to use blog steemit
Steem or Steem Dollars, can be traded on external markets such as in poloniex or Bittrex, Bitshares. It turns out that Steem and Steem Dollar can be traded also in external market, if you already have a good balance of Steem, and Steem Dollars then here is how to Sell Steem and Steem Dollar to get Bitcoin in Bittrex or poloniex.
Trading steem coin
- If you do not have a Bittrex or poloniex account, you must first register at
- Verify the email, by clicking the link link that Bittex directed to your email.
- Next, please Login to Bittrex
- Click the Wallet menu in Bittrex, Then Search "Steem". Then will appear Steem and Steeam Dollar Wallet.
- Please Click menu in cryptocurrency Steem Dollars
- Then it will appear as shown below, Please Click New Address, Use Memo and Registered Acct to transfer process from wallet Steemit.
- Next, Enter Memo and Registerd Acct from Generate New Address in Bittrex or poloniex. Determine the value of transfernya amount of Steem Dollars to be transferred. Then click Transfer.
- When you're done, wait until you get into Wallet Steem Dolllars in Bittrex or Poloniex, if it's signed you can trade it by selling to BTC ,Bitcoin, or other Cryptocurrency, as you like.
Similarly tutorial on How to Sell Steem and Steem Dollars to Bitcoin in Bittrex and also, may be useful for those of you who have the balance Steem or Steeam Dollar that you get from Steemit
