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Steem (STEEM) History and Overview
Steem, the so-called "social blockchain", was designed to power blockchain-based blogging and social media platforms, and serves as the core technology for popular applications such as DLive and Steemit.
The Steem crypto blockchain functions on the deligated-proof-of-stake (DPoS) consensus mechanism and users get 10% of block rewards when they serve as "witnesses" when validating the Steem networks. 75% of these rewards then get sent to a rewards pool from where users are compensated for creating and interacting with content on Steem-powered decentralized applications (dApps) and decentralized social networks. So, users are rewarded for creating content and also moderating and curating it.
The Steem coin is STEEM, which is used for staking as well as rewarding users. The majority of newly minted STEEM is dedicated to the rewards pool.
How To Buy Steem or Add it to your Strategy
The fastest, most convenient way to purchase Steem is to purchase it on ICONOMI. We check Steem live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Steem by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Steem is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Steem, we recommend you read the next section, as copying might be a better approach.
Add Steem to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Steem in their structure.
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