Steemit Crypto Academy Week 6 - Stable Coins @yohan2on by @gaby7491
Source
Giving a small summary of what a stable currency refers to, we note that they are cryptocurrencies that were created for the purpose of having a fixed value, which does not depend on market volatility, today they represent the value of fiat currencies such as the US dollar, We can mention some of them Tether (USDT), (TUSD), DAI, Steem (SBD), some of them were created being anchored to fiat currency values and others anchored to minerals, oil, gold, silver, etc. Many of these currencies were created in order to provide good customer service, either as a way to save their assets, or for daily use paying for basic services.
Steem
Source
Steem is a decentralized cryptocurrency created in 2016 on the blockchain blockchain, in order to be commercialized through social networks, it has its platform called steemit and it was created so that the token had the fiat value of 1 US dollar, this Currency can be mined but through social networks, through internal posts on the platform and as a reward they give you tokens, this platform has 3 types of coins, 2 are transferable which are Steem and Steem dollar (SBD), and The last Steem power remains on the platform in the form of an action so that it continues to grow, you can also withdraw it, only to withdraw Steem Power you need to follow a series of somewhat meticulous steps that usually take a while.
Steem was born with the purpose of having the net value of 1 US dollar, but with so much demand and so little market for Steem tokens, they made it acquire an extra value from its original value as we see it in the following image.
We can buy and sell our Steem or Steem dollar (SBD) tokens, both in the internal market of the steemit platform or through its purchase in binance or another wallet.
For that we need to perform a few simple steps, go to our wallet and select above our balance, then we go to the market.
We can easily transfer our Steem or Steem dollar tokens to another user through a very easy transfer to do, you just have to go to your wallet and select above your balance and select transfer.
There are several platforms capable of buying and selling Steem and Steem Dollar, Binance, Coin Base, Bittrex among others, in this case we will show the use of their Bittrex indicators.
There are several platforms capable of buying and selling Steem and Steem Dollar, Binance, Coin Base, Bittrex among others, in this case we will show the use of their Bittrex indicators.
CC
@yohan2on
@steemcurator01
@steemcurator02
Hi @gaby7491
Thanks for attending the 6th -Crypto course and for your effort in doing the given homework task.
Feedback
You had to keep your focus on a stable coin "SBD" and Not Steem. Your information was not clear at some point when you kept saying "Steem or Steem dollars". Kindly be sure of what you are sharing by doing enough background research study on it.
Homework task
5
You've got a free upvote from witness fuli.
Peace & Love!