Steem Dollars Trading Down 16.6% This Week (SBD)

Steem Dollars (CURRENCY:SBD) traded 8.9% higher against the US dollar during the 1 day period ending at 22:00 PM Eastern on September 22nd. One Steem Dollars coin can now be bought for about $6.59 or 0.00015095 BTC on cryptocurrency exchanges. Steem Dollars has a market cap of $59.30 million and approximately $10.38 million worth of Steem Dollars was traded on exchanges in the last 24 hours. In the last week, Steem Dollars has traded down 16.6% against the US dollar.

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

  • USDX [Kava] (USDX) traded 0.7% higher against the dollar and now trades at $0.98 or 0.00002250 BTC.
  • USDX [Lighthouse] (USDX) traded up 10.3% against the dollar and now trades at $3.39 or 0.00007756 BTC.
  • USDx stablecoin (USDX) traded 0.3% lower 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.

About Steem Dollars

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 8,994,560 coins. Steem Dollars’ official website is steem.io. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. Steem Dollars’ official message board is steemit.com/@steemitblog. The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed 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.   “

Steem Dollars Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Steem Dollars directly using US dollars. Investors seeking to acquire Steem Dollars should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Steem Dollars using one of the aforementioned exchanges.

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