Steem is Currently the 34th on Coinmarketcap and also not listed on some Major exchanges..These are really sad news.
Recently i tried to observe the position our Steem occupies on the various exchanges known to me starting from blocktrades, coinmarketcap, bitrex, coinbase, bitmex and others as well as the respect it commands among other cryptocurrencies (Bitcoin, ethereum and the rest). What I discovered shocked me as I believe it will shock you too.
HOW IMPORTANT IS STEEM AND STEEM DOLLAR TO STEEMIANS
Without any iota of doubt, Steem and Steem dollar are the languages every account holder on steemit understands since they are the official currencies traded therein. Generally speaking, they are important not only because they serve as medium of exchange for other goods and services outside steemit, but also because they help to ensure stable growth on the platform.
SHOULD THESE BE TRADED ONLY HERE ON STEEMIT?
Absolutely NO! Since these are also cryptocurrencies built upon blockchain and also because the number users have grown geometrically, these currencies should also be traded on every exchange wherein cryptocurrencies are traded. It saddens me when I get to to some popular exchanges and then discover that I cannot purchase bitcoin or ethereum with my Steem or SBD.
Let's take a close look at some of the exchanges:
Even though steem and steem dollar are listed beneath the table, blocktrade definitely trades them for other major cryptocurrencies as seen in the image below:
)This is another exchange where our dear steemit currencies are traded for other major cryptocurrencies, but unfortunately Steem is said to assume the 34th position as opposed to the 23rd position it held before now.
It is regrettable that Coinbase has no space allotted our Steem except for Bitcoin, bitcoin cash, ethereum and litecoin.
Bitmex is not left out of this sad scenarioas they trade only on bitcoin, ethereum, litecoin without Steem.
and finally,
For the sake of this post, I will be stopping here on changelly. Although I have not traded here on changelly, but from closer observation, I have discovered that Steem is never traded here.
QUICK FACTS FROM THE ABOVE ANALYSIS
From the foregoing, it is obvious a lot of work still need to be done in order that our steem and steem dollars gain popularity. The 34th position as currently occupied by Steem on coinmarketcap is really not conducive, we need to step up to the first 10 (it is possible). Steemit has given me a lot and I need to pay back in kind by contributing my quota toward its development and wider acceptance.
HOW THEN DO WE JOINTLY HELP CORRECT ALL THESE
I have thought over these same question for a very long time with little or no concrete answers, but one thing stands sure "The more the wide spread of steemit, the more popular steem and steem dollar becomes i.e. the more accounts we have on steemit, the more trades are transacted with steem and steem dollars, hence its popularity.
Should you have more contributions, observations or corrections, please Leave me a comment below
Should you think this post is Nice and well written, Please encourage me by upvoting and resteeming
Sincerely Yours,
@dintellectual
I’ve put in a support ticket at Binance to add STEEM and Steem Dollar. I left a link on the Steem stats. Not sure what else I can do.
Has there been a response since putting that in??
I got this response 2 days ago in my email from Binance.
"Your request (195765) has been received, and is being checked by our support staff. "
spreading some truth :)
And still the market cap can go way higher than what it is right now, i believe 2018 will be a huge year for blockchain and ofc steem is one of those
Sure it will, but I need steem to assume a reasonable popularity position on coinmarketcap
Thank you for sharing the information!!! 😀
You are most welcome
I recently boarded the steemit rocket for several reasons. One being, I would like to blog/vlog on a format that I think has a great potential to be one of the largest social media platforms out there. However, in regards to cryptocurrencies, I feel a little lost. While learning all about this, I can't seem to find a fluid method of exchanging steem, SBD's, USD to and fro. It would be nice if coinbase, a site that appears to have simpler way of navigating around for newbies, could accommodate steemit members. With that said, quite a stir took place the there day regarding coinbase. Bittrex is no longer accepting new accounts, and when I click onto the Blocktrades link, I get a blank white screen. I would like to vlog, participate in voting for content that I think provides valuable info, or just pleasant to view, and yes, cash out, reinvest in a simpler, fluid manner.
I have been able to trade steem and SBD for bitcoin on 3 exchanges: Bittrex, Bitshares and via the steem wallet interface “market”. I don’t know of any way to trade it directly for USD.
As regards trading SBD for USD, I am also still trying to figure that out. I am on it very hard.
Steem will be the last one standing if it all goes bad for crypto currencies. I don’t think it will go bad, but it would be better than the others. The price of steem is advancing both in USD and in bitcoin terms.
Yea... I agree with you big time
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