Cryptocurrency is on fire and with that more and more questions from individuals and firms are arising.
"Which crypto should I invest?"
"Should I buy high and ride it higher?"
"Should I buy low and HODL?"
"Should I buy the one with the best tech or the one with the hype?"
These are some frequently asked questions in crypto.
My intent with these "Why?" guides is to provide information, context, and as much value as possible to you so that you can best set yourself, your family, and your friends up for the future.
This first guide will explain my perspective on why pick STEEM out of all these cryptocurrencies.
REASON ONE: Capacity
The cryptocurrencies with capacity will prevail.
STEEM as you can see below handled the most transactions in a 24 hr time period with over 918,000 transactions with this only being 0.32% (yes three tenths of a %) of their blockchain capability.
Compare that to Ethereum who may process those 780,000 transactions but guess what? That is at 100% of it's capabilities. So you are telling me Ethereum is already maxing out and causing backlogs and STEEM is handling almost a million transactions per day while using less than 1% of their capacity.
One of the main components of scalability is the ability to handle a lot of transactions.
STEEM, built upon the Graphene chain (also created by 
Why would you invest in a blockchain that doesn't have the capacity to handle transactions?
And ever more so why would you invest in a blockchain that is slowwwwwwwwwwwwwwwwwwwwww.
REASON #2: SPEED
STEEM has near instant transfers.
3 second block confirmation times seems reasonable to me. And with the instant gratification and raised expectations from us humans you really think people, businesses, and governments are going to wait minutes by using Bitcoin, Ethereum, and other cryptos.
Time is money for many individuals, businesses, and governments. So they will looking for the quickest cryptos to transfer money to and from.
Can you imagine walking into a store and paying with Bitcoin and having to wait their 15-45 minutes in the store just for your transaction to be confirmed?
Nope I can't either. I envision walking into a store, pay with STEEM, the merchant confirms the transactions within 3 seconds, and then you are on you way.
Some might put up with the slow transfer speeds of now but as the mainstream adoption grows and more people use crypto for instant money transfers they will flood to STEEM because of how quick its transfers are.
And how low the fees are.
REASON THREE: No fees
Wait what?!
In this world of being nickeled to dimed to death by banks, credit cards, and now with cryptos can we please have a way to transfer funds without fees.
STEEM has no fees to transfer funds via the STEEM blockchain. Let me say that again NO FEES TO TRANSFER FUNDS.
So why are individuals, businesses, and governments paying sometimes $7-$10 in transactions fees to send Bitcoin?
They don't know about STEEM and you can see the market cap of STEEM reflect that.
Once individuals, businesses, and governements realize they can send funds with STEEM with no fees they will be a rush to STEEM as the crypto for fund transfers such as Bitcoin is now.
This concludes Part One of "Why Steem?"
Hope this brings value to you and hope this helps you make the best decision for yourself, your family & friends, and your livelihood.
Part Two coming soon.
Thank you as always for your time and attention. Means a lot to me.
Sources:
Image Sources:
- https://steemit.com/steem/@haykelfd/why-steem
- https://media.netflix.com/en/company-blog/now-available-globally-fast-com-a-new-tool-to-check-your-internet-speed
- https://www.dsco.io/drop-shipping-automation/
- http://ux4dotcom.blogspot.com/2014/08/make-good-time-in-checkout-line-online.html
