Earlier this Month, We posted that Steem will be one of the new coins on Coinbase. Every coin that has hit coinbase has seen an average 45% increase. Steem is one of the coins, Nouvive recommends buying during this bearish market.
STEEM is a cryptocurrency that runs on its own Steemit blockchain that enables content creators on the social media platform to be rewarded for their content by the readers. Not only do content and even comments get rewarded, there is also no centralized authority over the platform.
STEEM is a cryptocurrency that runs on its own blockchain that enables content creators to be rewarded for their content by readers. This makes it a Youtube Competitor, as those posting on the service get paid for doing so.
The user governance means that they decide on everything including how much one would get paid for participating by Liking, sharing and upvoting.
Steem brings blogging and social media to the blockchain. Not only is it controlled by users, it is also designed to reward good content. Anyone with internet access can create an account and earn on SteemIt. They have a working product, that has been live since March 2016, rewarded content creators close to $40 Million since June 2016.
In order for Coinbase listing, they have opened the code to test for vulnerabilities. Steem has its own blockchain. It makes use of Graphene blockchain technology which has been proven to sustain over 1,000 transactions per second and can be easily scaled to process over 10,000 transactions per second.
Steem is not a security under any Securities Law, nor would it affect Coinbase’s compliance for regulations. Moreover, they are highly liquid with a market capitalisation of $260 million as of August 2018. The total supply of tokens is just over 288 million, with over 271 million already in circulation.
There is a high demand for Steem, with over 920,000 User accounts on Steemit to illustrate this. The more quality content that’s shared on Steemit, the more people are attracted to the platform and the stronger the network grows. Since, its inception, they have an average of 1.5Million posts and 3.78 million comments per month.
Nouvive sees one picture in particular, Steem will be listed on Coinbase within the next 6 months, this will happen potentially following its fall from $0.60 to around the $0.23 level. Coinbase is heavily infiltrated by Facebook Directors and Team Members on the board. There is a high potential that Steem could be brought by Facebook – especially as they seek to potentially look at their business model and see a way of tokenising their business.
If Bittorent can be brought, so can Steem.
Nouvive recommends at buying Steem at $0.23 with bids staggered to $0.8.
Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.
Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.