Steem Dollars (SBD) Trading 1.1% Lower Over Last Week

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

Steem Dollars (SBD) is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. It was first traded on June 4th, 2016. Steem Dollars’ total supply is 10,318,642 coins. The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed here. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. Steem Dollars’ official message board is steemit.com/@steemitblog. The official website for Steem Dollars is steem.io.

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.

Receive News & Updates for Steem Dollars Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Steem Dollars and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.