Steem Dollars Reaches Market Capitalization of $59.43 Million (SBD)

Steem Dollars (CURRENCY:SBD) traded 1.6% higher against the U.S. dollar during the 1-day period ending at 20:00 PM ET on September 23rd. Steem Dollars has a total market cap of $59.43 million and $7.06 million worth of Steem Dollars was traded on exchanges in the last 24 hours. In the last seven days, Steem Dollars has traded 15.9% lower against the U.S. dollar. One Steem Dollars coin can currently be purchased for about $6.60 or 0.00014771 BTC on exchanges.

Here’s how other cryptocurrencies have performed in the last 24 hours:

  • USDX [Kava] (USDX) traded up 0.7% against the dollar and now trades at $0.99 or 0.00002214 BTC.
  • USDX [Lighthouse] (USDX) traded 3.6% higher against the dollar and now trades at $3.46 or 0.00007755 BTC.
  • USDx stablecoin (USDX) traded down 0.3% against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • Dollars (USDX) traded up 6.4% 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 (SBD) is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. Its genesis date was June 4th, 2016. Steem Dollars’ total supply is 9,004,925 coins. Steem Dollars’ official website is steem.io. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. 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.

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

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