Steem Dollars Market Capitalization Achieves $70.02 Million (SBD)

Steem Dollars (CURRENCY:SBD) traded 0.1% higher against the U.S. dollar during the 24-hour period ending at 21:00 PM Eastern on September 16th. During the last week, Steem Dollars has traded down 4% against the U.S. dollar. Steem Dollars has a market cap of $70.02 million and $7.19 million worth of Steem Dollars was traded on exchanges in the last day. One Steem Dollars coin can now be purchased for about $7.85 or 0.00016451 BTC on cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed during the last day:

  • USDX [Kava] (USDX) traded 0.3% higher against the dollar and now trades at $0.99 or 0.00002077 BTC.
  • USDX [Lighthouse] (USDX) traded down 1.6% against the dollar and now trades at $4.10 or 0.00008577 BTC.
  • USDx stablecoin (USDX) traded 0.3% lower against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • Dollars (USDX) traded 6.4% higher against the dollar and now trades at $0.17 or 0.00000432 BTC.
  • dForce USDx (USDX) traded down 0% against the dollar and now trades at $0.99 or 0.00002159 BTC.

Steem Dollars Coin Profile

Steem Dollars (CRYPTO:SBD) is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. It launched on June 4th, 2016. Steem Dollars’ total supply is 8,914,597 coins. The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed here. The official message board for Steem Dollars is steemit.com/@steemitblog. The official website for Steem Dollars is steem.io. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here.

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 currently possible to purchase alternative cryptocurrencies such as Steem Dollars directly using U.S. dollars. Investors seeking to acquire Steem Dollars should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem Dollars using one of the exchanges listed above.

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.