Low Price Of Steem : A Blessing In Disguise
I know what You're Thinking
Low price, A blessing ... How ?
Lets take a look at some of the positives
Great Low Prices For Newbies
If you are like me and new to crypto this is a great opportunity to keep a close eye on the market and possibly pick up some Steem ( And other crypto ) at rock bottom prices. Just a few short months ago Steem was valued at $3.50. I have faith we will reach that again.
I Bought At $3 + How Does This Low Price Help Me ?
If you are one of the many that bought in at a higher price then look at this opportunity as a way to bring down your over all average cost. For simplicity lets say in the past you bought 1000 Steem for $3 each ( $3000 USD Total ) if today you bought another 1000 Steem at its current price of $0.40 ( $400 ) that would bring your total cost of 2000 Steem to $3400 and the average per coin cost to $1.70. This means you almost halved your average cost per coin giving yourself more room for potential profits.
Two for One SBD Ratio
SBD price has also dropped well below the pegged 1 USD but its till double the price of Steem. Currently you can trade your SBD at a rate 1 : 2 for Steem. I only had about 20 SBD in my account but I jumped at the opportunity to make that trade. The ratio may further spread apart but a 2 for 1 deal is one I wouldn't pass up.
Share your thoughts on current prices in the comment section below
Disclaimer : This is not financial advice. Always do your own research before investing any of your hard earned currencies and only invest an amount you are not afraid to lose.
Hi
Interesting post. I am surprised at the length of time your trade took. I usually go from fiat to lite coin and lite coin to steem using blocktrades. It usually takes only a few minutes for the trade to go through. My biggest delay is the bank transfer to of fiat to my trading account. I will try a credit card today to see if that’s faster using Uphold.
The length of time was due to the exchange processing my transfer request. They advertise processing times of up to 48 hours in the FAQ section. I had fiat already on the exchange from other trades I done months back so luckily I didn't have to deposit some as that would have been another fee.
Wow
It’s amazing how much faster you can transfer crypto then fiat 😀
we all gotta hodl together ...
new morning soon
paz
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woosh
What is your prediction about steem?
Posted using Partiko Android
I am still very new to crypto but I see lots of potential with Steem. We have lots of positives going for us. The community being one of the main positives. Then we have the endless potential of the newly released blockchain game Steem-Monsters that will and already started introducing new people to Steem. They introduced a new feature yesterday that has a percentage of all Beta Booster packs purchased offering a 10 % rebate to the purchaser via Steem. I am not sure if that is a temp change or not but at least for now it has people investing in Steem that may not even know they are. Which once they find out they got some Steem for " free " they will likely start to better educate themselves on the blockchain / Steem related sites and potentially invest more.
I think some tweaking needs to be done to make this place newbie friendly. Lots have left / slowed their participation on Steem related sites due to the RC issue. We went too far in the pay to use category. There are allot of free options out there for bloggers and social media. Lots will choose them over paying to function as needed here.
This post has received a 1.56 % upvote from @drotto thanks to: @mediawizards.
Thanks !
Newbies access is important.
I like the fact that everybody who is committed to Steempower also can't just sell in this downtrend because it takes 13weeks to get your Steem back.
So, obviously the people who are selling Steem are not the people who feel committed to Steem. I think most of the selling pressure comes from the SBD (debt), the reward pool selling and the overall negative crypto performance.
But with Bitcoin almost at 4000$ we should have most of the worse behind us. Keep on stackin Steem I don't think prices under 50cents will maintain for long.
I like this aspect also and I also feel it cuts down on the dumping of Steem in day to day trading.
That's true, if everyone had access to their total amount of Steem there is a good chance we see a bigger dump in price then we are currently seeing.
Honestly, I think it might bottom out around .05 but who knows maybe this is bottom and ill be kicking myself later for not buying more as always!
I have no clue what the bottom will end up being but I do believe Steem will be worth allot more then 50 cents one day.
I personally think it might be 0.15 USD. There is really a lot of support at that level.
If only I knew about this blessing before I bought extra Steem at 0.8 USD a few weeks back :(
I pulled the trigger yesterday and traded my USD > ETH > STEEM
It took my exchange a good 12 hours to process my request and it caused me to miss out on a bit of STEEM due to ETH / STEEM price fluctuations. I will making a post on it in a couple hours. I think you still got in good at 0.80 cents as I believe Steem will be worth allot more then that in the long term.
Do you use Uphold?
No and I have no clue what it is.