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How & Where to Buy Steem A Step-by-Step Guide to Buying STEEM

  1. Sign up at CoinSwitch, the #1 rated STEEM exchange.
  2. Fund your account with cash or crypto.
  3. Buy SteemSTEEM
  1. STEP 1Find the Best STEEM Exchange
    • coinswitch reviews
      Ease of use
      Very Easy
      Time to 1st Buy
      24h Volume

      This mobile aggregator platform collects data from all major exchanges, making it possible to swap many cryptocurrencies at highly competitive rates. Mobile app-only CoinSwitch Kuber is India's most popular cryptocurrency exchange service, with over 4 million users. Hassle-free arbitrage and trading process.

    • 102
      Ease of use
      Time to 1st Buy
      2 hrs
      24h Volume

      China’s biggest cryptocurrency exchange and the second-biggest exchange in the world. Huobi is highly respected and well designed, with a stunning trading platform, more than 50 fiat currencies accepted, and fair trading fees. Now based in Seychelles and listed in Hong Kong, it serves a primarily Asian customer base.

    Go to CoinSwitch and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Steem SteemSTEEM quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy STEEM with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for STEEM.

Frequently Asked Questions About Buying & Selling Steem (STEEM)

How do I Buy STEEM with Crypto?

If you want to buy STEEM with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for CoinSwitch and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to CoinSwitch.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Steem (STEEM)?

To sell STEEM, simply reverse the buying process described above. You will likely need to trade your SteemSTEEM into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Steem Research Center

Steem Technical Details & Statistics

  • Market Rank263
  • Market Cap111,245,725
  • Circulating Supply394,951,699
  • Total Supply409,190,981 STEEM
Yesterday's Trading
  • 24 HR Volume32,485,812 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
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What is Steem?

Steem (STEEM) is the official cryptocurrency of the social network Steemit which is built on its own blockchain. Users earn STEEM for posting, sharing, curating and commenting on contents. The Steem currency is divided into STEEM and Steem Dollars, both of which are tradeable on a number of online exchanges. As a social network, Steem is quite popular, frequently compared to the likes of Reddit and Medium, but differs in that it rewards content creators with its own cryptocurrency.

History of Steem

The idea of Steem was discussed in a whitepaper published in March 2016. Later in the year, Ned Scott and Dan Larimer (creator of BitShares) founded a company based on the whitepaper. They also arranged for the funds to continue development of the platform.

Steem began with a high inflationary supply model of 100% growth every year. However, in December 2016, inflation was brought down to 9.5% per annum. In July 2016, Steem market capitalization reached $405 million, surpassing the $1 billion mark in January 2018. In March 2017. Dan Larimer resigned from the company to pursue other projects.

How Steem Works

Steem has two different cryptocurrencies, both of which are measured against STEEM, the base token for the network. STEEM Power is the STEEM which has been put into a Smart Contract mode and it helps users to gain more influence on the network. Steem Dollars are STEEM tokens which are more like an actual cryptocurrency and can be converted to fiat currencies or used for payments and transactions.
Exactly 50% of whatever a user earns is given in the form of STEEM, and the remaining 50% is issued as Steem Dollars.

The network also has an internal conversion exchange where STEEM can be used to purchase Steem Dollars and vice versa. The process takes 3.5 days, approximately.

Steem offers 75% of the reward to content authors and 25% of the reward to content curators. Steem also offers a wallet where the users can store their Steem Dollars or use for transactional purposes.

Why Steem?

With the first social network built around a cryptocurrency, Steem aims to be a disruptive service in the social media industry and offers multiple advantages:

  • Virtually Free: There is no need to buy or invest in Steem as StEEM can be earned for publishing, curating or sharing contents on its network, and even for commenting on published materials. Thus, this cryptocurrency can basically be earned for free.
  • Blockchain based: The service utilizes its own blockchain, which is the backbone of almost every cryptocurrency. This brings solidity and security to its monetary reward system.
  • Tradeable: Many leading exchanges offer the trade of Steem Dollars and one can use Steem Dollars to purchase bitcoin, Ethereum or any other cryptocurrency.
  • Unlimited Potential: Steem is a highly-scalable social network, by definition, and thus, there is no limit as to where this network can reach. Facebook for example, is used by over a billion people, worldwide. Greater users brings an increasing price of STEEM and thus greater revenue for its contributors.