Steem Dollars (CURRENCY:SBD) traded 3.1% higher against the US dollar during the 1-day period ending at 14:00 PM ET on January 14th. One Steem Dollars coin can now be bought for approximately $4.92 or 0.00011460 BTC on popular exchanges. Over the last week, Steem Dollars has traded down 1.1% against the US dollar. Steem Dollars has a total market capitalization of $50.81 million and approximately $1.52 million worth of Steem Dollars was traded on exchanges in the last 24 hours.
Here is how similar cryptocurrencies have performed over the last 24 hours:
- USDX [Kava] (USDX) traded up 0.5% against the dollar and now trades at $0.98 or 0.00002278 BTC.
- USDx stablecoin (USDX) traded flat against the dollar and now trades at $1.00 or 0.00008734 BTC.
- USDX [Lighthouse] (USDX) traded down 0.1% against the dollar and now trades at $0.40 or 0.00000923 BTC.
- Dollars (USDX) traded flat against the dollar and now trades at $0.17 or 0.00000432 BTC.
- dForce USDx (USDX) traded flat against the dollar and now trades at $14,024,661.89 or 0.00001722 BTC.
Steem Dollars Profile
According to CryptoCompare, “Steem Backed Dollars or simply Steem Dollars are stable value pegged assets issued in the Steem.it platform. SBD are pegged to the value of the USD and can be redeemed on the Steem.it platform for about one dollar worth of Steem. When Content creators receive rewards on the Steem.it platform they are made available in 50% Steem Power, which can be redeemed continuously over a period of 104 weeks, and 50% SBD which can be fully redeemed for Steem in a 5 day period. SBD can also be transfered on the Steem Platform and can be exchanged outside of the Platform. “
Buying and Selling Steem Dollars
It is usually not possible to purchase alternative cryptocurrencies such as Steem Dollars directly using U.S. dollars. Investors seeking to acquire Steem Dollars should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Steem Dollars using one of the aforementioned exchanges.
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