Bitcoin Alternatives: Steem

The biggest hesitation that investors have against altcoins is that they must spend real money to acquire virtual currencies. We often hear criticisms that bitcoin is simply vapor that is destined to vanish, eliminating billions of actual dollars. But what if there was a way to acquire cryptocurrencies for free? Steem is the answer to this seemingly rhetorical question.

The steem coin is the underlying cryptocurrency of Steemit, a blockchain-powered social media platform. Unlike Facebook Inc (NASDAQ:FB) or Twitter Inc (NYSE:TWTR), regular folks can earn money through posting original content. Before you dismiss Steemit as a too-good-to-be-true fairy tale, take a look at the network’s top earners. With just one post, you can make hundreds of dollars, even thousands.

Better yet, you can transfer the steem coins you earn to a third-party exchange like Bittrex. Using my Bittrex beginner’s guide, you can easily sell your steem coins for bitcoin. From there, you have access to hundreds of altcoins. Using the Steemit network is undoubtedly the least riskiest way of building a cryptocurrency portfolio.

However, there is a catch: it’s very difficult to build a profitable steem account through blogging alone. In order to “juice up” your profitability potential, you can purchase “steem power” coins. This of course is a capital risk.

But with most major altcoins flying through the roof, getting involved with steem today could pay huge dividends later.

SOURCE : https://investorplace.com/2018/01/4-bitcoin-alternatives-that-you-need-for-2018/#.WmwOrKiWbIU