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How to Buy Steem (STEEM) in 4 Easy Steps

Quick Answer:

You can buy Steem and have it in your wallet in less than one hour in 4 simple steps:

  1. Find the best exchange that sells Steem.
  2. Register a new account.
  3. Fund your account.
  4. Buy Steem.

These steps are simple if you know where to buy Steem cryptocurrency -- but knowing where to buy is the hard part.

Many cryptocurrencies are only offered on less well-known exchanges, and finding the best place to buy Steem (STEEM) and then figuring out if that exchange is trustworthy is more than most people - even experienced crypto traders - can handle!

We've done all the hard research for you. Let's get started.

Step 1Find the Best Steem Exchange

Ultimately, doing your own research in crypto is the best way to learn the processes of moving your money, finding promising investment opportunities, and buying and selling cryptocurrencies.

We have done years of work to make this as simple as possible for you.

Why You Should Trust Our Recommendations


We started with 346 crypto exchanges.

We start by evaluating our comprehensive list of 346 exchanges that we have spent 7+ years and 600+ hours gathering data on.


Only 17 of these exchanges sell Steem.

We then filter down the entire set of possible marketplaces to only the ones that have active STEEM markets.


Only 11 of these exchanges have $100m in daily trade volume.

We then remove any exchanges that don't have adequate trading volume to make buys and sales of all sizes.


Only 2 remaining exchanges received a 7/10 Trust Score.

We give each exchange a trust review rating using history, longevity, proof of reserves, and reputation.


Apply our editorial review process to rank the remaining exchanges.

We manually review the remaining candidates to declare a winner.

The Winner is Binance

World's largest crypto exchange, known for its wide range of trading options, low fees, and strong security features.

VISIT Binance Read Review
Reasons we โ™ฅ Binance:
Low Fees
Wide Selection of Cryptocurrencies
Extensive Trading Tools and Options
Robust Security Features
Educational and Extra Features
Apple Pay
Google Pay
Bank Transfer (ACH)
Wire Transfer
Debit Card

Step 2Register Your New Account

Users have the option to sign up using their email address, phone number, or directly with an Apple or Google account. It's important to select the account type carefully, as it cannot be changed after registration.

  • Go to Binance Website: Visit the Binance website and click on 'Register'. Choose your preferred registration method (email address, phone number, Apple, or Google account).
  • Enter Email/Phone Number: If registering with an email or phone number, enter the details. Optionally, if referred by a friend, enter their Referral ID. Agree to the Terms of Service and Privacy Policy, then click 'Next'.
  • Verification Code: Receive a 6-digit verification code via email or phone. Enter this code within 30 minutes and submit it.
  • Create Password: Create a secure password for the account. It must have at least 8 characters, including at least one uppercase letter and one number. Click 'Next'.
  • Account Creation Confirmation: Upon completing these steps, the Binance account is successfully createdโ€‹โ€‹.

Step 3Fund Your Account

Once you have registered or logged in to your account at Binance, there are several funding methods you can use to buy Steem cryptocurrency.

You can buy Steem on Binance using:

  • Apple Pay: Instant processing time
  • Google Pay: Instant processing time
  • Bank Transfer (ACH): 1-3 days processing time
  • Wire Transfer: 1-3 days processing time
  • Debit Card: 1-3 days processing time
  • SEPA: 0-5 days processing time

Step 4Buy Steem (STEEM)

After registering and funding your account at Binance, you should be able to buy Steem after your deposit finishes processing. After you receive your STEEM, make sure to secure it and follow best security practices to avoid losing it scams or hacks.

Best Steem Exchanges

Steem is also available on these exchanges:

About Steem

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.
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