STEEM is one of the most popular cryptocurrency on the market.
What is STEEM?
Steem is a cryptocurrency on the Steemit platform that rewards users for community building through the upvoting and the posting of meaningful content.
Founded in 2016 by Ned Scott and BitShares creator Dan Larimer, the Steemit platform, built atop the Steem blockchain, is a social media network that seeks to be a source of community-driven curated content such as news, Q&A and job boards.
The more value a particular piece of content is able to deliver across a greater number of people, the greater the reward received by the creator.
Steemit users can cast votes to create a hierarchy of content. The higher the upvote count received on a content piece, the more Steem is earned by its publisher. Steemit’s meritocratic system also enables users that hold more currency to cast more meaningful, greater influence votes.
Where to Buy STEEM
STEEM is purchased through cryptocurrency exchanges the way any other crypto would be bought. You’re not guaranteed that most exchanges will have Steem available for purchase or trade like you may be with Bitcoin
How to Buy STEEM with Binance
You can buy Steem with BTC on Binance, you’ll also need a Coinbase account with Bitcoins in it before anything else.
- Create a Binance account. Similar to Coinbase, you’ll need verification measures and it is strongly recommended that you use two-factor authentication as well for added security.
- Once logged in, go to the “Funds” button at the top of the page and then, from the drop down, click “deposit withdrawals.”
- Go to “STEEM,” click “Deposit,” and the Binance wallet address will show up. Copy the address.
- Log into your Coinbase account, go to your Bitcoin wallet and click “Send.”
- There will be a “Recipent” box. Input the Binance wallet address. Specify how much BTC you wish to transfer and send them.
- Back on Binance, confirm that the BTC have been successfully transferred.
- Go to the “Exchange” section and click “Basic” for simplicity. Search for Steem, and specify that you will be paying with Bitcoins, aka STEEM/BTC.
- Specify how much of your BTC you wish to transfer into STEEM.
- Confirm your information, and make the transfer.
To send STEEM to your the wallet you will need to Steemit Account
- Register & Login to your Steemit account.
- Hit your avatar icon and select ‘wallet’
- To send funds from your wallet, simply navigate to your wallet on Steemit and click ‘transfer’