{"id":9558,"date":"2023-05-09T19:22:22","date_gmt":"2023-05-09T19:22:22","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=9558"},"modified":"2025-09-10T15:24:22","modified_gmt":"2025-09-10T15:24:22","slug":"what-is-steem-the-complete-guide","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-steem-the-complete-guide","title":{"rendered":"What is Steem? The complete guide"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-steem-the-complete-guide\/#history_of_steem\" >History of Steem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-steem-the-complete-guide\/#how_does_steem_work\" >How does Steem work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-steem-the-complete-guide\/#steem_mining\" >Steem Mining<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-steem-the-complete-guide\/#steem_wallets\" >Steem Wallets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-steem-the-complete-guide\/#advantages_and_disadvantages_of_steem\" >Advantages and Disadvantages of Steem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-steem-the-complete-guide\/#where_to_buy_steem\" >Where to buy Steem?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>You may have heard of a social network that works with\u00a0<b>blockchain based<\/b><b>\u00a0technology<\/b>.\u00a0So what is steem and his complete guide?.\u00a0This platform is called\u00a0<b>Steemit and its\u00a0<\/b><b>Steem coins<\/b><b>.<\/b><\/p>\n<p>It rewards users and content creators. This social media platform aims to\u00a0<b>eliminate intermediaries\u00a0<\/b>and third parties in order to increase the creators\u2019 profits.<\/p>\n<p>Steemit is a social network whose interface is similar to any classic social network.\u00a0<b>The only difference<\/b>\u00a0with platforms such as Facebook or YouTube is that in Steemit users are rewarded with a token for publishing content.\u00a0<b>Steem is the network token<\/b>\u00a0with which any post, article or content creation published is paid.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"history_of_steem\"><\/span><b>History of Steem<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The platform was created by Ned Scott and Dan Larimer with the aim of achieving a social network built at the top of\u00a0<b>the Steem network<\/b>\u00a0block chain. The platform was launched on March 24, 2016.<\/p>\n<p>In the summer of the same year,\u00a0steem coins\u00a0started its take-off. Initially, a total of\u00a0<b>5 million crypto currencies\u00a0<\/b>were released into the system. In 10 days, the digital currency had reached<b>\u00a04 USD per token.<\/b><\/p>\n<p>After a period of time of little growth in the\u00a0amount of steem, the value of the crypto currency began to rise. Thus, in May 2017 it experienced the highest peak and in December it reached over\u00a0<b>USD 2 billion market capitalization.<\/b><\/p>\n<p>The currency has been evolving with a value that greatly exceeds the initial one, placing it among the first 50 crypto-currencies with\u00a0<b>the highest capitalization volume<\/b>.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_steem_work\"><\/span><b>How does Steem work?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>By creating content for Steemit, creators can\u00a0<b>make money<\/b>. The amount of reward depends on the success of the publications. The more publications are shared and the more\u00a0<b>positive votes<\/b>\u00a0they have, the\u00a0<b>more token<\/b>\u00a0creators will earn on the steemit platform. It should be noted that the platform\u00a0<b>allows negative votes<\/b>\u00a0so that the rating of the content can really be evaluated objectively.<\/p>\n<p>All publications on the platform are registered in the Steem blockchain. As it is an\u00a0<b>open and transparent system,<\/b>\u00a0any user can check the publications and the money earned by each one. The community itself is in charge of maintaining the network, since it is a system in which\u00a0<b>each user is responsible for maintaining certain parts.<\/b><\/p>\n<p>Steem has no more and no less than\u00a0<b>three tokens<\/b>. Among them are Steem, Steem Power (SP) and Steem dollars.<\/p>\n<ul>\n<li><b>Steem<\/b>\u00a0is the base crypto currency of the Steemit network. It can be exchanged for crypto currencies such as Bitcoin or others through the exchange platforms. On the platform, in order to cast votes, STEEM must be converted to Steem Power (SP). It is also possible to convert to Steem Dollars. By converting STEEM into SP, an investment in the network is made as capital. One unit invested in this way is equivalent to one vote.<\/li>\n<li><b>Steem power SP<\/b>\u00a0is the stock of the Steemit company. The more shares the partners own, the more influence they have on decisions on the platform and they receive more income from Steemit\u2019s total earnings.\u00a0Users who hold\u00a0more Steem Power are known as the \u201cwhales\u201d.<\/li>\n<li><b>Steem Dollar<\/b>, according to the project itself, is the way to offer the community the unit value of a real currency, in this case the dollar, to encourage growth. It would be a unit oriented to represent short term debt. The value is 1:1 with the US dollar. Currently the price of the Steem Dollar is between 0.99 $ and 0.97 $.<\/li>\n<\/ul>\n<div id=\"image_1102622890\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-03.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-03.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-03-300x205.jpg 300w\" alt=\"que es steem Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-03.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-03-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-03.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"steem_mining\"><\/span><b>Steem Mining<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This crypto is a minable asset, that is, we can obtain tokens through mining. This process is developed through\u00a0<b>Proof-of-Work<\/b>. Most of the profits are sent to the miners\u2019\u00a0<b>investment fund\u00a0<\/b>so that the miners can benefit from their work. For each block of steem mined the miners receive\u00a0<b>1 STEEM<\/b>. The other 10% goes to the content creators who pay for their work in Steem.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"steem_wallets\"><\/span><b>Steem Wallets<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you have already decided to\u00a0<a href=\"https:\/\/www.bitnovo.com\/en\/buy\/bitcoin\/\">buy Steem<\/a>\u00a0you will need a<b>\u00a0wallet<\/b>\u00a0to store them. One of the special features of the\u00a0<a href=\"https:\/\/steemit.com\/\">Steemit.com<\/a>\u00a0platform is that once a user registers, they are assigned a wallet to automatically store their tokens including SteemsPower and SteemDollars.<\/p>\n<ul>\n<li>The same wallet can be adapted to the cell phone with the\u00a0<b>eSteem<\/b>\u00a0version, making it easy and accessible to manage the crypto-currencies.<\/li>\n<li>In case you don\u2019t want to have your crypto-currencies in the network you have the option to save them in the\u00a0<b>Hardware wallet<\/b>. These wallets offer security to your digital assets.<\/li>\n<\/ul>\n<p>As a first option you have Trezor Model T. This wallet has a simple design to understand and handle in case you are new to the world of crypto.<\/p>\n<p>Ledger Nano X is also a hardware wallet. Like the previous one, it offers\u00a0<b>security and peace<\/b>\u00a0of mind to our cryptos while being a comfortable way to manage our assets. It is up to you to choose the wallet that best suits your needs.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"advantages_and_disadvantages_of_steem\"><\/span><b>Advantages and Disadvantages of Steem<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Now that we know how this crypto works and how it is composed, we can analyze what its\u00a0<b>advantages and disadvantages are.<\/b><\/p>\n<p><b>Advantages:<\/b><\/p>\n<ul>\n<li><b>Rewards\u00a0<\/b>content creators by participating in the network.<\/li>\n<li>Through the\u00a0<b>voting system<\/b>\u00a0to prioritize quality content, the platform encourages participants to meet the highest expectations.<\/li>\n<li>By accumulating\u00a0<b>SteemPower<\/b>, any user can increase\u00a0<b>their influence<\/b>\u00a0on the platform and thus their profits.<\/li>\n<li>As a<b>\u00a0decentralized platform<\/b>, most voting is done through voting systems.<\/li>\n<li><b>Privacy<\/b>. Steem encrypts all user data so that no one can access it or find out the data of an account owner.<\/li>\n<\/ul>\n<p><b>Disadvantages:<\/b><\/p>\n<ul>\n<li><b>Imbalance in the voting power.<\/b>\u00a0It can be an advantage and a disadvantage at the same time depending on how you look at it. This is because if a user has a large amount of votes, he or she can prevent the growth of another user who does not.<\/li>\n<li><b>Loss of password<\/b>. A security measure that can become a big disadvantage in case you forget your password. Steemit does not have a password recovery option.<\/li>\n<li><b>Inflation.<\/b>\u00a0Steemit does not have a limited number of units, but more are generated every day. Even if you ensure that there are tokens for everyone, this can lead to imminent inflation.<\/li>\n<\/ul>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"where_to_buy_steem\"><\/span><b>Where to buy Steem?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you want to know how to\u00a0<a href=\"https:\/\/www.bitnovo.com\/en\/buy\/bitcoin\/\">buy\u00a0the cryptocurrencies steem<\/a>\u00a0or where to do it, of course we\u2019re going to recommend you to buy them at\u00a0<b>Bitnovo<\/b>. And this is not simply because we are inside the brand\u2019s blog, but because Bitnovo is really a<b>\u00a0fast and safe way to do it.<\/b><\/p>\n<p>Our goal as a company is to make it possible for a person who just entered the crypto world to buy any crypto currency\u00a0<b>in a matter of minutes,<\/b>\u00a0without experiencing the problems that most cryptocurrency exchanges have.<\/p>\n<div id=\"image_711523109\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-02.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-02.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-02-300x205.jpg 300w\" alt=\"que es steem Bitnovo\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-02.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-02-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2020\/11\/202011-fila-13-que-es-steem-02.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>You may have heard of a social network that works with\u00a0blockchain based\u00a0technology.\u00a0So what is steem and his complete guide?.\u00a0This platform is called\u00a0Steemit and its\u00a0Steem coins. It rewards users and content creators. This social media platform aims to\u00a0eliminate intermediaries\u00a0and third parties in order to increase the creators\u2019 profits. Steemit is a social network whose interface is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[165],"tags":[],"class_list":["post-9558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=9558"}],"version-history":[{"count":2,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9558\/revisions"}],"predecessor-version":[{"id":24729,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9558\/revisions\/24729"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7092"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=9558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=9558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=9558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}