Steem Dollars (SBD) Price Reaches $7.25 on Top Exchanges

Steem Dollars (CURRENCY:SBD) traded up 1.7% against the U.S. dollar during the 1 day period ending at 15:00 PM Eastern on November 25th. One Steem Dollars coin can now be bought for approximately $7.25 or 0.00012301 BTC on popular cryptocurrency exchanges. Over the last seven days, Steem Dollars has traded up 2.8% against the U.S. dollar. Steem Dollars has a total market capitalization of $70.93 million and approximately $19.48 million worth of Steem Dollars was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

  • USDX [Kava] (USDX) traded 0% lower against the dollar and now trades at $0.99 or 0.00001684 BTC.
  • USDX [Lighthouse] (USDX) traded up 8.6% against the dollar and now trades at $5.61 or 0.00009527 BTC.
  • USDx stablecoin (USDX) traded down 0.3% against the dollar and now trades at $1.00 or 0.00008734 BTC.
  • Dollars (USDX) traded 6.4% higher against the dollar and now trades at $0.17 or 0.00000432 BTC.
  • dForce USDx (USDX) traded down 7.5% against the dollar and now trades at $1.02 or 0.00001684 BTC.

Steem Dollars Coin Profile

Steem Dollars (SBD) is a distributed proof-of-stake (dPOS) coin that uses the SHA-256 hashing algorithm. It launched on June 4th, 2016. Steem Dollars’ total supply is 9,789,736 coins. Steem Dollars’ official website is steem.io. Steem Dollars’ official Twitter account is @steemit and its Facebook page is accessible here. The Reddit community for Steem Dollars is /r/steemit and the currency’s Github account can be viewed here. Steem Dollars’ official message board is steemit.com/@steemitblog.

According to CryptoCompare, “Steem Backed Dollars or simply Steem Dollars are stable value pegged assets issued in the Steem.it platform. SBD are pegged to the value of the USD and can be redeemed on the Steem.it platform for about one dollar worth of Steem.  When Content creators receive rewards on the Steem.it platform they are made available in 50% Steem Power, which can be redeemed continuously over a period of 104 weeks, and 50% SBD which can be fully redeemed for Steem in a 5 day period. SBD can also be transfered on the Steem Platform and can be exchanged outside of the Platform.   “

Steem Dollars Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as Steem Dollars directly using U.S. dollars. Investors seeking to acquire Steem Dollars should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Steem Dollars using one of the exchanges listed above.

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