In our first segment of “How About It?” we take a look at a unique cryptocurrency that has been on the scene for a wet minute now. “STEEM” is a decentralized social media network that pays its users to post! Depending on who upvotes a users article decides how much that particular article will make, this means even if you get 1,000 votes from accounts with no SP will still pay less than an account that has a decent amount of SP. SP is short for STEEM POWER, and the more STEEM POWER you have the more your vote matters.
When you get paid for a post on the network you get paid in half STEEM POWER, and half SBD. SBD is supposed to always be roughly $1. This gives us three aspects of STEEM that we can now look at.
STEEM POWER (SP) – Takes 1 year to power down all SP, More SP in account equals more voting power.
STEEM DOLLAR (SBD) – This is what users are rewarded in, and is roughly always $1
STEEM – STEEM is the actual STEEM coin that fluctuates on the exchange's market, so if we’re looking to earn some profits with STEEM this is most likely the one we’re going to want to invest in over SBD.
Sporting a solid volume of $900,000 per day, there are a ton of STEEM in existence though, clocking in at 244 million coins, at around $1 per coin, that glues STEEM to a market cap of $234 million. I’m not sure that STEEM itself will rise, but what’s nice about investing in STEEM is there are several others way you could profit by owning coins, in addition to updating and managing a blog there. So while I don’t necessarily think it’s a coin I could just buy and sit on for profits, I do think it’s a coin I can buy and work with to make some profits, making it a solid addition to my cryptocurrency portfolio.
