Crypto Academy Week 7 Homework Post for @besticofinder - How To Invest in Cryptocurrencies A beginners Guide Part 2 (HIVE vs STEEM)

In this post, I want to continue learning about fundamental analysis as an initial preparation before starting investing in cryptocurrency. This is an advanced topic given by professor @besticofinder in week 7 at the Steemit Crypto Academy Community.

TASKS

Choose 2 cryptocurrencies that have market capitalization between rank 100-400 as the potential assets you will invest in and compare the two using fundamental analysis based on the following factors.

• Compare the concepts in each of the project whitepapers.
• Compare social outreach, project goals, team, and market response.
• Compare market capitalization, liquidity and trading volume, circulating supply, active address, minimum supply, and transaction count.
• Determine which crypto is better to invest in based on these facts.

Then which cryptocurrency will I compare? In this post I have decided to compare two cryptocurrencies that are very familiar on this platform, they are HIVE and STEEM. Here are some comparisons between HIVE vs STEEM.

PLATFORMS OVERVIEW

Source

STEEM is the cryptocurrency used by the steemit.com platform. steemit.com is a platform founded by the Steemit.Inc company in March 2016. steemit.com is a blockchain-based social platform that provides STEEM or SBD as a reward for content creators who are active on this platform. Content creators will get STEEM or SBD based on the votes obtained from each content shared on this platform.

Not much different from STEEM, HIVE is a cryptocurrency used by the hive.blog platform. hive.blog is also a blockchain-based social platform that provides HIVE or HBD as a reward for content creators who are active on this platform. In March 2020, the hive.blog platform decided to copy the existing system on the steemit.com platform to create a new, decentralized hive.blog platform. This makes the hive.blog platform look very similar to the steemit.com platform. Although they look similar, hive.blog and steemit.com are separate and distinct platforms.

In terms of security, these two platforms have high security because they are decentralized platforms and use a unique private key and several other keys. To keep it safe, you only need to keep the keys secret.

STATISTICS

• HIVE

• STEEM

Based on the statistical data I saw on the coinmarketcap.com site, here is a simple summary of the two cryptocurrencies.

-	HIVE	STEEM
Rank	139	145
Currently Price	$ 0.9267	$ 0.8538
Low - High	$ 0.5111 - $ 1.0600	$ 0.7002 - $ 0.8974
Market Cap	$ 365,845,130	$ 318,243,742
Volume	$ 647,433,472	$ 118,795,945
Total Supply	394,792,941 HIVE	389,717,270 STEEM
Circulating Supply	394,792,941 HIVE	372,743,176 STEEM

MARKETS

• HIVE

• STEEM

Since their first launch to date, HIVE and STEEM have been very well received in the market. So you don't have to worry about trading it. Both cryptocurrencies have caught the interest of various traders out there. From the two images above, it can be seen that currently there are many exchanges that have been actively trading these two cryptocurrencies, and most of these exchanges are exchanges that are very familiar to us. This proves that HIVE and STEEM are cryptocurrencies that are very easy to trade on various exchanges.

CHARTS

• HIVE

• STEEM

Based on the price chart, the two cryptocurrencies have a price that tends to be stable, but has experienced significant price jumps several times. For now, STEEM prices tend to be stable, while HIVE prices have increased more frequently. However, if we look back a little, the price of these two cryptocurrencies has always fluctuated. And this is good for investment.

CONCLUSION

These conditions and facts provide a good opportunity for everyone to invest in both cryptocurrencies. You can buy it when the price is low and sell it when the price is high or spin your money on other assets.

For me, both cryptocurrencies have good opportunities for investment. But if I had to choose one, then I would choose HIVE to invest in at this time, because HIVE is currently in a positive trend. These conditions provide a good opportunity for you to get a lot of profits in a short time.

But I will also buy some STEEM as an investment for future. Because I am sure that STEEM will definitely reach its highest price again in the future and this is the right time for you to buy it at a lower price and you can sell it in the future when the price rebounds.

CC:
@besticofinder
@steemcurator01
@steemcurator02