Steem is a blockchain-based rewards platform for publishers which allows them to monetize content and grow a community.
Ever heard of Steemit.com? Well, Steemit is Steem’s blogging platform where regular folks like you and me can publish articles and earn Steem Dollars. Articles can be about most any topic — life, photography, cryptocurrency, you name it. You can even write an introduction about yourself and make moolah.
The amount a content creator receives is based on the popularity of the article. The more “upvotes,” the more Steem Dollars are rewarded. And since the Steem coin is listed on some of the most popular exchanges, like HitBTC and Poloniex, Steem Dollars can be traded for Steem and then traded for fiat currency quite easily. In fact, every activity users engage in on Steemit — every post, every comment, every like — results in Steem Dollar payments. What do your other social media sites pay you for your engagement?
Unlike other cryptocurrencies such as Bitcoin and Ether, Steem is both “smart” and “social.” It’s smart because it creates a database of stored content that is immutable. And it’s “social” because it incentivizes publishers to share their content with others. Steem’s voting system leverages the wisdom of the crowd to assess the value of content and distribute tokens to it.
In early 2018, Steem will launch “Smart Media Tokens” which will allow other content developers to launch their own similar platforms using the Steem blockchain. Smart Media Tokens will be used by content websites, applications, online communities, and organizations that seek to fund or wish to monetize their site. Steem’s “upvote” and “like”-based algorithms can be integrated with websites to align incentives and spur growth just like Steemit.com.
How can you invest in Steem?
You first need to buy Bitcoin or Ethereum on Coinbase and then transfer it over to your account at HitBTC to exchange it for STEEM. If you get stuck or need help, send us a message through our Facebook page or use our contact page and someone on staff will walk you through the process.