Where and how to buy Steem

in steem •  4 years ago 

First of all you should know that you can actually buy some steem from two main trading sites: Bittrex and also OpenLedger. Personally I prefer to buy it from Bittrex because its more easier to understand the trading process, OpenLedger is a bit complicated for a newbie in the trading world !

To begin with, you need to buy some bitcoins on coinbase.com, for example If you want to buy 10 $ of Steem knowing that a unite of steem is valued at 0.241 $ you will buy 10 $ of BitCoin ( just put the amount in dollars of BTC you want and site will tell you how much BTC you're buying ;) ) , after that you will need to create an account on Bittrex with the mail, the password, etc but it seems like there's a problem with validating the account but don't worry it still let's you trade. Once you created the account, go to the "Wallets" section of the Bittrex ( look at the top right) on "ACCOUNT BALANCES" you will have the names of the cryptocurrencies traded on the site, click on the "+" sign next to Bitcoin then on "generate new adress" copy the adress ( its the adress where you're going to send your Btc, it will be deposited on your Bittrex wallet ) then go to coinbase.com , section "Send/receive", put the adress on "recipient", and the amount you want to send to this account it will be shown on your Bitcoin wallet click on "send the funds", and then you will have to confirm.

Next you will have to wait a half an hour approximately to be capable to use these Bitcoins, then go to "B Markets" search for Steem, next to the chart you will the Steem price compared to Bitcoin on the first line, the "Bid" section shows the lowest buying price and the"Ask" price shows the lowest sale price, as you want to buy some of it you will look at the "Ask" price, you can get immediatly your Steem if you buy it at that price and NOT LOWER because you're going to wait a while ( I personally think Steem will hardly fall in price so I guess that the actual price of 0.24 $ is the best price we will ever have ), next go on "Trading" part, then enter the lowest "Ask" price you will have ( second line) on the left board, on the first line put the amount of steem you want to buy and on "Total" side it will show how much its going to cost in BTC ( for example you have bought 500 Steam at 0.00054 BTC per Steem, it will cost you 0.27 BTC ), you will have the "Good Till canceled" kind of buy activated if you don't know what this is, click on link "What is it?" they explain it well.
Yay ! You finally made it, you bought some Steem congrats ;) !

Hope this helps you guys !

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Didn't knew that there was another site trading Steem and it looks much easier, thanks a lot !

Great.

It's not loading up now, says This site can’t be reached, is it down?

I’m newbe

Jeez. I wish I knew about STEEM two years ago when this was posted.

These are the two most simple sites ever, best for noobs!
Bitstamp.net for buying bitcoin
& PolonieX for buying crypto currency & trading etc...

This all strikes me as ludicrous. It would be a lot easier just to have Steemit include a store selling Steem in common currencies, using credit cards. If someone told me I'd have to go to a site to buy money to spend on amazon, I would not be an Amazon shopper. Requiring complete exchange processes benefiting middlemen is counter-productive.

  ·  2 years ago (edited)

+1 I know I'm very late to this thread but if Steemit did this they could undercut all the 3rd parties as they'd only need to pay for the initial cost of creating the initial systems, and then the processing costs that come from the conversions. It wouldn't need to charge any fees (the profit comes in the form of the user). They could even get some kind of deal with 3rd parties to make that happen for mutual benefit. An exchange for example could offer a much better deal than it would normally since it would be guaranteeing such a large amount of new custom.

If Steemit want to ultimately be a social media system that can compete (and outpace) Facebook and Reddit they need to create the tools to be able to make it as simple and easy as absolutely possible to get set up with Steemit, and they need to do it quickly. Even just understanding what passwords I'm meant to guard with my life or not has me scratching my head. (Steemit should also get hardware wallet support so that people can feel even more secure with their account)

For there to be the sort of reach Steemit hopes it needs to appeal to those who aren't interested in cryptocurrency apart from the very basic pitch that a site like reddit can pay them to use it! Frankly there should be a simple way to purely invest with Steemit where people just want to use it to get the compound interest reward of Steem Power without the need for the social media benefits.

Jerry Banfield talked a lot in his videos about those guys on Twitter and Facebook with the massive following coming over and bringing their followers with them. Yes that would be ideal, but that's never going to happen when the barrier to entry here is too high. Oh sure you can get an account fairly easily after approval, but there needs to be basic and easy to use internal system created ASAP, so that's it can get as close to ease of use of Amazon, PayPal, Reddit and Facebook. Won't that be the goal anyway? The sooner it's improved the more people it can attract.

The barrier for Steemit taking off really isn't the crypto market getting stronger and more well known, it's the actual site itself and they can do something about that right now. I don't know if they are? Because the longer Steemit doesn't have the user friendliness I'm talking about it leaves an opportunity for another competing platform to appear with all the features I'm referring to all at once. Steemit would then be in a very dangerous position because the new platform would be riding Steamit's success as proof of it's own. Coins would be so cheap it would be worth people grabbing them and it would be suddenly super easy for everyone - even the normies - to jump on board. All they'd need to do is prove their platform was as stable as Steamit so long as it had the same support. It will be much harder to do this if it's allowed to get to this point.

See what I'm saying? I'm still trying to figure out how to get Steem into my account. It shouldn't need to be so complicated.

Good conversation. I was thinking pretty much the same thing about the processes for entering the Steem market. Hope later threads will mention some alternatives.

Thank you.

Very well thought out response, mind follow for follow? And if you would be interested in a SteemVoter group, let me know.

https://changelly.com/exchange/BTC/STEEM/1?ref_id=coinmarketcap
Looks like you can buy with usd credit card here.
Hope that helps. I am in The UK and would like to purchase with £'s.

Thanks!

I am new to Steem so trying to figure things out myself.

Join the club :-)

changelly only let me buy $50 of steem.

Thanks

Is that site safe and no scam ?
How fast will you get the Steem in your Steempower account ?
Do you have to go first there to buy Bitcoin and then convert this to Steem ?
I am really looking for a safe server that let´s me just buy directly Steem or Steempower via PayPal or Creditcard and is instantly or at least in an hour processed... so there is not much delay... and it is not dependend from the Bitcoin exchange rate.....
any reliable and fast selling website ? Many thanks.
Regards, Stefan.

Did you ever get a reply where to buy with paypal or debit card?? Converting through all these rinkydink cyrpto sites has been the big bugbear discentive to bitcoin since Day 1

Agreed!

It sounds like jumping through hoops...

Definately. The do not even address that fact that both bitcoin and steem dollars fluctuate in price minute by minute. I think most users would gladly buy steem dollars directly from steemit even if steemit charged 2 or 3 %.

This we can only look forward to #steemit has to address this quickly if it wants to broaden its base globally beyond techies

this was a big help thanks so much :)

@yaboygotti great info for you!

So, we cannot purchase Steem coins from Steemit I guess.

No, I am now seeking out the best way to buy steem with USD.

Thanks so much for this post - really helpful :)

Hello @steampunkpowered57 i appreciate what you said about OpenLedger being a little difficult for a newvie trading. Have you used OpenLedger much in trading since you wrote this article? Have any good tutorials or youtube vids about OpenLedger???

Been looking for information to store your steem safely, can find much on this. anyone here has an idea?

Good discussion point. I was about to post a similair post. The decision to buy a coin should be based on real analysis of the coin. I found that people keep buying coins without have any knowledge of them. This is considered high risk. Do you know this interesting site? https://www.coincheckup.com I'm really enthusiastic about this site, they let you analyze every single coin out there.

#1 question should be why didn't steem simply opt for running on Bitcoin?

If you don't know the answer to that then you shouldn't be here.

It was a bit rhetorical. We all know it was just a handful of 'whales' that invested early on and got the majority of the reward.

Great post, thanks very much for the helpful info.... Just wondering how you transfer steem from Bittrex to your steem wallet? Is it your public MEMO address from your steem wallet that you enter into the Bittrex transfer dialog box?

Here is a guide I found on how to move steem from Bittrex to your steem wallet
https://www.iorad.com/6590/29228/How-to-Buy-Steem-with-Bittrex#viewsteps

  ·  2 years ago (edited)

This is seriously crazyily complicated and a huge discentive to the global expansion of #steem as many won't be able to undertsand everything because English is NOT their 1st language. Or they justifiably are suspicious of having to join up so many sites to transact what should be a Paypal or debit card transaction

not serious.png

Needed INFO...THX

Just made a reserch and i found this post helful. THank you @steampunkpowered

Fast forward to 12-30-2017....Coinbase is making this hard to do with small amounts. Bitcoin fees and minimums are killing us.

This is the best place (in my opinion) https://www.binance.com

This is very helpful to know.. thank you so much!

My good god what a mission awaits. Lol... But we will succeed....

i have some btc and want to buy steemit but bittrex is taking no new signups and upbit and not in my language anyone want to sell some steemit?

Thank you! 2 years have already past.. and I wonder if you could advise in which exchanges steem dollar is listed today? Which ones are the best and easiest ones and which ones would you recommend for beginners?

Thank you for this!

Dude so extremely helpful I was searching all freaking day for this information finally I found your blog post through a Google Search and I'm so glad I did I'm going to re~steem this post for sure...
Brudder j don't play

Ditto...but I'm still confused by it all! Haha And to think, I did a degree in Management Science - then again, that was in the last 90s :)