Steem, the cryptocurrency of Steemit

The Altcoin market has grown to a market of $ 400 billion, with a presence of almost 1,500 altcoins that investors can choose from when building their portfolio of digital assets. One of these altcoins is Steem (STEEM), and we will talk about it on this time.

Steem (STEEM) is a decentralized cryptocurrency launched two years ago, which runs on Steem blockchain, which drives Steemit social networks and a blogging platform. The digital currency STEEM can not be mined as bitcoin. Instead the Steem blockchain assigns most of the newly created STEEM tokens to a reward fund, which is used to pay Steemit users for their contribution to the platform. In addition, Steem, like most cryptocurrencies, can also be used to make digital payments on an equal footing.

In addition to the Steemit platform, there are also a handful of other social networks that support STEEM, such as Steepshot, Busy and the Esteem application.

Currently, Steem has a market capitalization of $ 1.5 billion and is among the first 25 largest cryptocurrencies. Its daily trading volume is around $ 50 million, and can be exchanged in leading exchanges such as Bittrex and Poloniex, among others.