In this guide you’ll get information about where to buy Steem Coin, if you are planning to buy STEEM – You’re in the right place!
Steem Coin as cryptocurrency in social network which created using blockchain to decentralized and democratize the way the network works so revenue will comes straight to users from advertisers. It is created in 2016 and the blockchain is running blogging and social network with platform where social networking and content creation can be done. Then users will be awarded with the coin when making some contribution throughout the website.
The website is running under PoB algorithm and work in similar ways as other portals with various ways to earn the token. The algorithm is used to determine the content value that users added to the platform.
A lot of people often think of Steem as a platform for social media. In reality, Steem is a platform that focuses on community – and it gives back to the users. How can they do it? They create instant earning chances for users who contribute their contents. After users post or display their (curated) contents online, they will be paid with cryptocurrency. After that, they are free to do whatever they want with the cryptocurrency, whether they want to stake it, exchange it, spend it, or have it exchanged with fiat money.
The basic concept of Steem is that those contributing to the growth and use of the platform should be rewarded. They also believe that serving the community members is more important, especially through providing different kinds of financial opportunities and services. In Steem, users can help to grow communities. The community platform makes revenue streams right away (for users) through special reward after they share contents through social apps, such as Steemit.
- Official site: https://steem.com/
- Twitter: https://twitter.com/steemit
- Reddit: https://www.reddit.com/r/steemit/
- Bitcointalk: https://bitcointalk.org/index.php?topic=5122345.0
- White Paper: https://steem.com/wp-content/uploads/2018/10/steem-whitepaper.pdf
Table of Contents
STEEM COIN (STEEM) Features
- Blockchain algorithm. With the use of blockchain in Steem Coin network it is easier to determine the content value from users.
- Contribution. Steem Coin can be earned through various contribution method such as content creating, commenting, voting, and many others.
- Exchange. Steem Coin is used as currency on the network, but it can be exchanged to other fiat currencies.
- No limit. The amount of Steem Coin continues to increase yearly, thus there is no limit for the number of coin that users can earn.
- Usage. Steem Coin can be used for both corporate for promotion and writers for earning and build portfolio.
- Community and user driven. Whereas most social media platforms or apps are still concerned about the profits, Steem is more concerned about their users. Moreover, it offers supports for users and communities, especially those who contribute or provide input to the environment
- Blockchain technology. Unlike other platforms that are centralized and ‘controlled’, this one is more open and non-custodial. There won’t be any data abuse or downtime, with automatic recording time and perfectly secured environment.
- Reward given. Those who participate in the platform, especially in sharing contents, would be rewarded. Has any of you ever been rewarded by the social media you are using for every post you have made?
- Users focus. All these years, social media apps have made their fortune from their users but what have users gained in return? Nothing. With Steem, however, users are given the opportunity to finally reap some gain and financial reward.
Where to Buy, Sell and Trade STEEM COIN aka STEEM
You can basically use debit card, credit card, or even PayPal to buy the STEEM COIN (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the STEEM COIN as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to STEEM COIN. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports STEEM COIN currency and exchange your Ethereum or Bitcoin with the STEEM COIN
- Store your STEEM COIN to a secured wallet
That’s the first step in buying STEEM COIN, once you get your Bitcoin or Ethereum, you can continue to the next step.
Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with STEEM COIN:
Binance is the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now. Binance.com is unable to provide services to U.S. citizens or residents.
- Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 345+ more
- Trading Pairs: 1189+
Bybit is a leading cryptocurrency exchange offering a secure and efficient trading platform for digital asset enthusiasts. Founded in 2018, it specializes in derivatives trading, including perpetual and futures contracts, with high leverage options. Known for its user-friendly interface, Bybit caters to both novice and professional traders. The platform provides advanced tools, including charting and risk management features, ensuring a seamless trading experience. Bybit also supports spot trading, staking, and passive income opportunities. With 24/7 customer support, robust security measures, and a reputation for reliability, Bybit has become a popular choice for crypto traders seeking innovation and transparency.
- Deposit Methods: Cryptocurrency, Credit/Debit card, Third-party payment services, Peer-to-Peer (P2P) trading
- Fiat Currencies: USD, EUR, GBP, JPY, and 60+ more
- Supported Cryptocurrencies: BTC, ETH, XRP, LTC, DOGE, and 300+ more
- Trading Pairs: 500+
MEXC is a global cryptocurrency exchange platform known for its user-friendly interface, extensive range of listed cryptocurrencies, and innovative features. Established in 2018, MEXC provides trading services such as spot, futures, and margin trading, catering to both beginners and advanced traders. The platform supports a wide variety of altcoins, often listing new and promising projects. MEXC is popular for its high liquidity, competitive trading fees, and robust security measures, including two-factor authentication and fund protection protocols. It also offers staking and earning opportunities through its launchpad and DeFi integration, making it a versatile choice for crypto enthusiasts worldwide.
- Deposit Methods: Bank transfer (ACH), Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & over 2,700 others
- Trading Pairs: Over 3,000
IMPORTANT! Once you are registered to any of the above, find the BTC/STEEM or ETH/STEEM trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your STEEM COIN (STEEM) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy STEEM COIN (STEEM) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the STEEM COIN. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy STEEM COIN (STEEM) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy STEEM COIN (STEEM) with Skrill?
You can’t buy STEEM directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to STEEM COIN. You can buy BTC/ETH with skrill by using these exchanges::
- Paxful
- LocalBitcoins
- Virwox
- Paxful
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy STEEM COIN (STEEM) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/STEEM and begin the transactions.
Can I Buy STEEM COIN (STEEM) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/STEEM trading pair.
What Is the Best Payment Method to Buy STEEM COIN (STEEM)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the STEEM COIN right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect STEEM COIN (STEEM)?
Once you have purchased the STEEM COIN, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell STEEM COIN (STEEM)?
Find a crypto exchange which allow pairing STEEM with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine STEEM COIN (STEEM) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a STEEM COIN is to buy it from a reliable exchange.
Conclusion
Steem Coin as cryptocurrency is used in a social network created using blockchain technology. This website allows users to earn the coin whenever they create content while the advertiser and corporate use the coin in exchange for the promotion. With 100% increase rate, there is no limit on the number of coins that the users can earn. This is why, those that want to take part might want to learn how to buy Steem Coin to be part of the social network.
