Discovering Steem: A Reliable Investment in the World of Cryptocurrency

sbamsoneu (66)in WORLD OF XPILAR • 3 months ago

Introduction

Kingsley is a crypto enthusiast and have invested a lot in so many crypto projects and have made a lot of money. But recently, he dived into a shady project that made a way with a substantial amount of money despite doing his due diligence. This struck a lot of fear in him, and he has refused to invest any more in crypto.

Recently, a mutual friend of ours introduced us. We got talking and I was excited to find out he was into crypto. He told me about his fears ever since his last encounter. I smiled and told him to fear no more, that I have the right crypto project he invest his money in and have peace of mind while his money works for him.

I know you guys are curious about the project but before going further, let me invite @bossj23 and @emmy01 to the high table to join us in this contest.

Let’s move ahead in our short conversation:

Me: Mr Kingsley, I know by now, you will be wondering what the crypto project is and how’s it possible for you to grow your cryptocurrency just like that without making much effort??

Kingsley: yes bro!! That part got my attention.

Me: The name of the crypto is steem.

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Kingsley: I’ve never heard of such project before.

Me: That’s why I’m here to put you through. Besides, is not possible to know all the cryptocurrencies that has been built but what I’m about to tell you about steem will blow your mind away.

Kingsley: ok bro, I’m all ears!!!

Me: first of all, let me tell you a little about steem and some of its features.

Steem is a decentralize blockchain platform where users can earn cryptocurrency by creating and curating content through a social media platform called “steemit”. Some of its features include:

Decentralized social media platforms
Unlike other platforms, when it comes to steem, transaction is free without any gas fee. This makes it ideal for little payments and lots of transactions frequently.
Can handle high volume of transactions.

With this features alone, you know this is a project and has the ability to attract more investors into it. A lot of people especially content creators are already leaving other social media and running down to Steemit because they stand a better chance of being rewarded for their content.

Kingsley: Okay…. Let’s say I invest in steem, what do I stand to benefit?

Me: you have a lot to gain when you invest in steem blockchain technology. Just looking at the features alone, I believe you can even notice some of the benefits but for the sake of clarity, let me itemize the benefits;

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Let’s assume, you registered on the Steemit social media platform. As an investor, you can start earning by creating and curating content. In fact, having steem power gives you more influence on the platform to gain more steem.
By investing in steem or converting it to steem power, you have a great amount of governance on the system. You have the power to influence decisions about the platform’s future development and policies.
steem is still at its infancy age, compared to other cryptocurrencies. So, by investing in Steem early, you have a better chance of benefiting from the platform when they experience significant growth in the future.
steem has a high potential for growth because of the combination of social media and cryptocurrency other medias like Facebook, twitter, instagram are lacking. So, when steem becomes widely adopted, the value of the STEEM token could increase.

Kingsley: is there anyone who have had any success story so far investing in steem?

Me: There are many of them. Let’s use steem curator 1 and 2 as an example.

This guys are one of the major players in steemit. They don’t go through the stress of creating content. They only curate post and in return, get rewarded for it by gaining more steem.

I remembered back in the early days, when I joined steemit newly, whales on Steemit don’t really need to write much. In fact, just a picture of a flower alone could give them a lot of upvotes. The reason is because people are trying to gain there attention by attracting them to their posts because they know what it means if a whale upvotes them.

That’s one of the major influence whales have on Steemit. They become so popular like celebrity because of their steem power.

Steem curator 1&2 can also decide to delegate their steem to other active communities or individuals to do the upvoting for them. That way they can sleep, while their money grows for them without even visiting the platform. That’s another means of earning.

I know i can’t say I’m a big investor like others but with my little stay in the platform, I was able to get a laptop. That year was 2017 and there a bull run that year, so with the little steem I had in my account, I was able to get a laptop.

Kingsley: can I see the data and statistics?

Me: hmmm… Mr Kingsley, you are really an inquisitive young man. You really know what you want…

Well, this are the data I could find out about steem.

screenshot from my binance

As we speak, the current price of steem is $0.26 for a coin. You can see is a good time to invest since is still at a cheaper price and judging from the candlestick in the graph.

Over the past 24 hours, Steem has seen a trading volume of $5.5 million USD, which is the total value of Steem coins bought and sold.

The ranking of steem is no:421 among other existing coins based on market capitalization and the market capitalization is $122 million USD. As we all know, a high market cap means steem has potential for high growth and is more established in the market.

Although for now, we can’t give a maximum supply for steem coin, the circulating supply is 463 million steem. With a higher liquidity like that, it means steem is easily traded. This is also a good news for you Mr Kingsley because as an investor, you can be able to buy and sell quickly. There are so many platforms other than steemit you can buy steem, like binance.

Kingsley: wow.. this is really cool. Is there any future plans for steemit.

Me: I wish their was a roadmap I could show you but for now I can’t lay my hands on any but based on past announcements and ongoing discussions, there are some potential future plans I can share and they include;

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Upgrading the steem system to improve the speed of transaction and exploring decentralized storage solutions for contents.
Improving the steem user interface by making it look more modernized and more user friendly.
Creating a mobile app for it.
Making it easier for users to buy steem tokens with their own local currency.
Improving curation tools to reward high content.

Kingsley: Are there any other platforms like steemit, out there?

Me: yes. I’ve been on hive and uptrennd before but none of them can be compared to steemit. Like I mentioned earlier, steem has more user base and loyalty to the coin because it has been around for a long time and still the boss. For steem, transactions is very low compared to the others. You have more control over your content but during the time I was doing uptrennd, they have more control over user-generated content.

Kingsley: I’m really glad I met you. I’m willing to invest in steem blockchain because I’m convinced beyond reasonable doubt that I am putting my money in the right project.

Me: definitely, you will reap a good dividend from your investment. But remember, steem is a crypto asset and it is susceptible to high volatility. So, it’s advisable to invest what you can afford to loose.

Kingsley: I’m not new in the crypto business. I know that already.