What is Steem?

Blog 11 November 2019 Cointral
What is Steem?

Steem is defined as a cryptocurrency that operates on the Blockchain-based Steemit’s infrastructure. The aim of the Steemit platform is to change the dynamics of social media by creating a constantly evolving economy. As with some cryptocurrencies, users are rewarded for their production on the Steemit platform. In this article we will explain how Steem works and how to buy Steem. Have a pleasant reading.

How does STEEM work?

The Steemit platform, having solid audience at Steemit.com, is among the social media applications connected to Steem Blockchain. Like all of the Blockchain systems, Steem Blockchain records all data on a stable notebook.

There is a logical connection between users and the platform in exchange. Accordingly, users can earn awards for their contribution to the platform. In this way, users can produce content for the platform as well as gain money from their product. Steemit, sharing similarities with Reddit, differs with its award mechanism.

Steemit Network and Features

The Steemit network produces a STEEM unit for its users every day. Network users can use these generated tokens on the cryptocurrency exchanges.

How are the tokens distributed?

Steemit allows users on the network to gain Steem tokens for interactions such as comments, likes, and voting within the platform. Since the summer of 2016, a total of $ 40,000,000 worth and more awards have been rewarded to users.

Buy STEEM

You can buy STEEM with cash by visiting our Cointral branch. Moreover, you can easily purchase Bitcoin, Ethereum, Ripple, Litecoin, Tether, Dash and more than 1200 cryptocurrencies with Cointral. You can also check out our article “Buy Bitcoin with credit card” at our blog.

You can buy Bitcoin with Cointral and transfer your cryptocurrency to trade on the Binance Exchange. You can transfer your cryptocurrency to Binance by writing the BTC address provided Binance Exchange to the address section at https://online.cointral.com. You can exchange your Bitcoins with STEEM.

Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.