Crypto Academy Course 6: Stable Coins – by @yohan2on

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Hi everyone, welcome to this week’s course 6. In this homework post, I will be solving this week’s task that involves writing about one of the stable coins giving in this week’s homework task and also giving my opinion and knowledge about stable coin and what it is all about. I have to say, this week 6 course by the Steemit crypto professor @yohan2on is a very interesting and popular topic as far as cryptocurrency is concerned – we all know the importance of having good and sound knowledge of stable coins, especially when venturing into trading of cryptocurrency assets, so in my opinion, this was a very important topic to introduce in the crypto academy course. Stable coins are one of the most important and talked about cryptocurrency assets. Based on the main tasks for this post, I will be discussing about SBD which is a stable value asset or token on steem blockchain.

What is a Stable Coin and What is it all About?

Before writing about one of the stable coins, I think it is important to first of all know what stable coins are and what they are all about so as to set the base for the main topic of this post. A stable coin is simply a type of cryptocurrency asset that runs on a blockchain network, created to minimize volatility hence the name “stable” coin, because they are pegged to a stable asset like USD or any other stable asset. Example of stable coins are DAI, USDT etc.

What is SBD Steem Dollars?

Steem dollars or SBD for short is one of the stable coins that run on steem blockchain. Based on the data from coinmarketcap, it has a marketcap of $41,771,618, fully diluted marketcap of $41,771,618, 24hr volume of $12,399,679, circulating supply of 6,363,325 SBD and a total supply of 6,363,325. SBD.It is a one of the tradable tokens of steem blockchain. Creating contents on steem blockchain, you get rewarded in SBD as well as steem power. You can also obtain SBD by exchanging steem to SBD on the internal exchange or exchanging other cryptocurrencies to SBD on the external exchanges. SBD is considered a stable coin on the steem blockchain because of its low volatility which makes it the only stable asset on the steem blockchain.

SBD Exchanges

Based on the information on coinmarketcap, SBD is currently listed on Upbit, Bittrex and HitBTC

Earning SBD

Content creators on steem blockchain earn 50% SBD as reward. When you set it at 50%/50% before publishing the post, you earn 50% of the reward as SBD while the other 50% as SP.

How to Send SBD to other Steem Accounts

• To do this, you have to go to your wallet
• Click on the amount beside the SBD token

• Select transfer

• The next page says “Transfer to Account”
• Type in the steem account username without the @ because it is already added automatically
• Enter the amount of SBD
• For the memo, this is optional – except when sending to external exchanges
• Hit Next

• The next page says “Confirm Transfer”
• Double check the info to ensure they are correct
• Hit Ok
• Transfer completed

The SBD Internal Market

One of the amazing features of the steem blockchain is the internal market. On the internal market, you can trade your SBD to steem in a decentralized way.

• To use the internal SBD market, you have to go to your wallet
• Click on the amount beside the SBD token

• Select market
• On the internal market exchange, you will find the “buy steem” and “sell steem” sections. The “buy steem” section is for buying steem with SBD or Selling SBD for steem and the “sell steem” section is for selling steem for SBD or Buying SBD with steem.

Cc:
@steemcurator01
@steemcurator02